BrainsWay Ltd. (TLV:BWAY)

BrainsWay Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	52.23	41.02	31.79	27.18	29.66
Revenue Growth (YoY)	27.33%	29.04%	16.96%	-8.36%	34.46%
Cost of Revenue	12.84	10.44	8.31	7.13	6.6
Gross Profit	39.39	30.58	23.48	20.05	23.06
Selling, General & Admin	25.46	22	21.77	25.05	21.66
Research & Development	9.6	7.19	6.67	7.68	6.39
Operating Expenses	35.06	29.19	28.44	32.73	28.06
Operating Income	4.32	1.39	-4.96	-12.68	-5
Interest Expense	-1.56	-1.25	-0.85	-1.19	-1.23
Interest & Investment Income	3.01	2.48	2.17	1.11	0.23
Currency Exchange Gain (Loss)	-0.57	-0.16	-0.06	-0.25	-0.36
Other Non Operating Income (Expenses)	2.52	1	-0.25	-0.01	-0.05
EBT Excluding Unusual Items	7.71	3.46	-3.95	-13.03	-6.42
Pretax Income	7.71	3.46	-3.95	-13.03	-6.42
Income Tax Expense	0.14	0.54	0.25	0.32	0.04
Net Income	7.58	2.92	-4.2	-13.35	-6.46
Net Income to Common	7.58	2.92	-4.2	-13.35	-6.46
Net Income Growth	159.33%	-	-	-	-
Shares Outstanding (Basic)	38	34	33	33	31
Shares Outstanding (Diluted)	40	35	33	33	31
Shares Change (YoY)	13.91%	4.87%	0.53%	5.86%	38.75%
EPS (Basic)	0.20	0.09	-0.13	-0.40	-0.21
EPS (Diluted)	0.18	0.06	-0.13	-0.40	-0.21
EPS Growth	229.13%	-	-	-	-
Free Cash Flow	15.15	6.5	-1.1	-9.76	-1.35
Free Cash Flow Per Share	0.38	0.19	-0.03	-0.30	-0.04
Gross Margin	75.42%	74.56%	73.86%	73.77%	77.75%
Operating Margin	8.28%	3.39%	-15.60%	-46.67%	-16.86%
Profit Margin	14.51%	7.12%	-13.20%	-49.12%	-21.79%
Free Cash Flow Margin	29.00%	15.86%	-3.47%	-35.91%	-4.57%
EBITDA	5.12	2.68	-3.62	-11.15	-3.31
EBITDA Margin	9.80%	6.53%	-11.39%	-41.02%	-11.17%
D&A For EBITDA	0.79	1.29	1.34	1.53	1.69
EBIT	4.32	1.39	-4.96	-12.68	-5
EBIT Margin	8.28%	3.39%	-15.60%	-46.67%	-16.86%
Effective Tax Rate	1.75%	15.55%	-	-	-

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.