BrainsWay Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	49.09	41.02	31.79	27.18	29.66	22.06
Revenue Growth (YoY)	27.08%	29.04%	16.96%	-8.36%	34.46%	-4.52%
Cost of Revenue	12.32	10.44	8.31	7.13	6.6	5.06
Gross Profit	36.78	30.58	23.48	20.05	23.06	17
Selling, General & Admin	24.83	22	21.77	25.05	21.66	16.01
Research & Development	9.12	7.19	6.67	7.68	6.39	5.82
Operating Expenses	33.94	29.19	28.44	32.73	28.06	21.83
Operating Income	2.84	1.39	-4.96	-12.68	-5	-4.83
Interest Expense	-1.84	-1.25	-0.85	-1.19	-1.23	-0.83
Interest & Investment Income	5.07	2.48	2.17	1.11	0.23	0.06
Currency Exchange Gain (Loss)	-0.16	-0.16	-0.06	-0.25	-0.36	0.45
Other Non Operating Income (Expenses)	1	1	-0.25	-0.01	-0.05	-
EBT Excluding Unusual Items	6.91	3.46	-3.95	-13.03	-6.42	-5.15
Pretax Income	6.91	3.46	-3.95	-13.03	-6.42	-5.15
Income Tax Expense	0.66	0.54	0.25	0.32	0.04	0.24
Net Income	6.25	2.92	-4.2	-13.35	-6.46	-5.39
Net Income to Common	6.25	2.92	-4.2	-13.35	-6.46	-5.39
Shares Outstanding (Basic)	38	34	33	33	31	22
Shares Outstanding (Diluted)	41	35	33	33	31	22
Shares Change (YoY)	20.96%	4.87%	0.53%	5.86%	38.75%	9.49%
EPS (Basic)	0.17	0.09	-0.13	-0.40	-0.21	-0.24
EPS (Diluted)	0.13	0.06	-0.13	-0.40	-0.21	-0.24
Free Cash Flow	18.34	6.5	-1.1	-9.76	-1.35	-3.91
Free Cash Flow Per Share	0.45	0.19	-0.03	-0.30	-0.04	-0.17
Gross Margin	74.91%	74.56%	73.86%	73.77%	77.75%	77.07%
Operating Margin	5.78%	3.39%	-15.60%	-46.67%	-16.86%	-21.89%
Profit Margin	12.73%	7.12%	-13.20%	-49.12%	-21.79%	-24.41%
Free Cash Flow Margin	37.36%	15.86%	-3.47%	-35.91%	-4.57%	-17.71%
EBITDA	4.25	2.68	-3.89	-11.15	-3.31	-3.21
EBITDA Margin	8.65%	6.53%	-12.23%	-41.02%	-11.17%	-14.56%
D&A For EBITDA	1.41	1.29	1.07	1.53	1.69	1.62
EBIT	2.84	1.39	-4.96	-12.68	-5	-4.83
EBIT Margin	5.78%	3.39%	-15.60%	-46.67%	-16.86%	-21.89%
Effective Tax Rate	9.52%	15.55%	-	-	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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