Welcome to our dedicated page for Brainsway Ltd. SEC filings (Ticker: BWAY), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The BrainsWay Ltd. (BWAY) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as a foreign private issuer listed on NASDAQ and the Tel Aviv Stock Exchange. BrainsWay files reports with the U.S. Securities and Exchange Commission primarily on Form 20-F and Form 6-K, which together give investors insight into its Deep TMS™ business, financial condition, and material developments.
BrainsWay’s Form 20-F annual report contains audited financial statements, risk factors, a description of its Deep TMS platform and indications, and details on its operations in the United States and Israel. Interim and event-driven updates are furnished on Form 6-K, which the company often uses to submit press releases and investor materials covering topics such as FDA clearances, payer coverage expansions, clinical trial launches, NIH grants, strategic investments, shareholder meeting results, and quarterly financial results.
While BrainsWay’s filings are not structured as 10-K or 10-Q reports because it is a foreign issuer, investors can use the available 20-F and 6-K documents to answer many of the same questions: how the company describes its Deep TMS technology, what indications are cleared, how it reports revenue from leasing and selling systems, and what risks it highlights in relation to mental health and addiction treatment markets. Filings may also reference registration statements on Form F-3 and Form S-8, which relate to capital-raising and equity compensation arrangements.
On Stock Titan, BrainsWay filings are updated in near real time from EDGAR, and each document can be reviewed alongside AI-generated summaries that explain key points in accessible language. Users can quickly scan 6-K exhibits for new clinical, regulatory, or financial information, and then drill into the full text when deeper analysis is needed. This structure helps investors follow BWAY’s evolving regulatory and financial narrative without manually parsing every filing line by line.
BrainsWay Ltd. files its annual report describing a shift to profitability, detailed risk factors and capital needs. The company reports net income of $2.9 million for 2024 and $7.5 million for 2025, but still has an accumulated deficit of $90.8 million as of December 31, 2025.
BrainsWay depends on its Deep TMS systems for depression, OCD and smoking addiction, and highlights risks around physician adoption, competition from other TMS and drug therapies, and reimbursement hurdles. The report also notes supply-chain and geopolitical risks tied to its Israeli manufacturing base and reliance on select large clinic networks.
As of December 31, 2025, BrainsWay had 39,165,806 ordinary shares outstanding and remains reliant on external financing, including a November 2024 private placement, to support growth, clinical trials and further regulatory expansion for Deep TMS.
BrainsWay Ltd. furnished an update highlighting growing U.S. payer support for nurse practitioner‑administered Transcranial Magnetic Stimulation (TMS) therapy, including its Deep TMS™ platform. Optum Behavioral Health revised its TMS policy in late 2025 to let psychiatric mental health nurse practitioners order, supervise, and administer TMS in full‑practice states, covering approximately 34.8 million lives.
BrainsWay notes that other commercial insurers, several Medicare Administrative Contractors, the U.S. Department of Veterans Affairs, and TRICARE West have adopted similar approaches. The company believes broader acceptance of nurse practitioner‑delivered Deep TMS can ease psychiatrist shortages and improve access to non‑drug mental health treatments.
Brainsway Ltd. disclosure: MEITAV Investment House Ltd. reports shared voting and dispositive power over 2,099,637 American Depositary Shares (ADS) representing 5.24% of ordinary shares based on 40,033,028 ordinary shares outstanding as of March 31, 2026.
The filing states the reported ADS are held across subsidiaries and client accounts: 408,408 ordinary shares (1.02%) by Meitav Tachlit Mutual Funds Ltd. and 1,691,229 ordinary shares (4.22%) by Meitav Provident Funds & Pension Ltd. Voting and investment decisions are described as made by each subsidiary under independent management.
BrainsWay Ltd. reports it has completed an additional $6 million milestone-based convertible loan investment in Neurolief Ltd. This second tranche was triggered by U.S. FDA Premarket Approval for Neurolief’s Proliv™Rx system, an at-home neurostimulation therapy for treatment-resistant major depressive disorder.
Including this tranche, BrainsWay has invested $11 million in Neurolief under their August 2025 strategic investment agreement. The arrangement also provides for a potential third tranche of up to a $5 million equity investment tied to Neurolief achieving a defined revenue target, and gives BrainsWay a call option to acquire all outstanding equity interests in Neurolief based on specified valuation formulas.
BrainsWay Ltd. reported that it completed a $1 million milestone-based investment in Axis Management Company, Inc., which services several mental health clinics in Colorado. This investment was triggered after Axis achieved a predefined revenue performance milestone under an August 2025 strategic equity financing agreement between the two companies.
BrainsWay previously made a $2.3 million equity investment in Axis and now holds a minority position in Axis through a preferred, annually compounding security, with a redemption mechanism relating to the shares. The move supports BrainsWay’s strategy of partnering with leading U.S. mental health providers to expand access to advanced neurostimulation treatments.
Brainsway Ltd. director Abraham Zangen filed an initial ownership report showing substantial direct holdings in the company. He holds 905,963 Ordinary Shares, which includes 899,713 shares plus unvested RSUs for 6,250 shares that vest quarterly until March 5, 2028. He also holds stock options over 25,000 Ordinary Shares with an exercise price of NIS 11.17 per share, expiring on March 5, 2034, with the remaining 12,500 options vesting in equal quarterly installments until March 5, 2028. The Ordinary Shares may also be held as American Depositary Shares, each currently representing one Ordinary Share.
Brainsway Ltd. director Mitrany Rayten Michal Ety filed an initial statement of beneficial ownership. The filing shows 12,500 Ordinary Shares held directly, including 6,250 shares and 6,250 RSUs that vest quarterly until March 5, 2028. It also reports stock options over 27,500 shares granted on January 13, 2020 expiring in 2028 with a NIS 15.26 exercise price, and options over 25,000 shares granted on March 5, 2024 expiring in 2034 with a NIS 11.17 exercise price, with 12,500 of those options vesting quarterly until March 5, 2028. The Ordinary Shares may be represented by American Depositary Shares on a one-for-one basis.
Brainsway Ltd. director David Zacut filed an initial ownership report detailing his equity position in the company. He directly holds 1,382,865 Ordinary Shares as of the filing, including 1,370,365 shares held jointly with his spouse, 6,250 additional shares, and unvested RSUs for 6,250 shares that vest quarterly until March 5, 2028.
He also indirectly holds 363,545 Ordinary Shares through Meromei Elran David 2003 Ltd. and 45,058 Ordinary Shares through Meromei Elran Ltd., both wholly owned entities where he serves as sole director. In addition, he holds stock options over 25,000 Ordinary Shares, granted on March 5, 2024, with an exercise price of NIS 11.17 per share and an expiration date of March 5, 2034. The remaining options for 12,500 shares vest in equal quarterly installments until March 5, 2028. Each Ordinary Share may be represented by one American Depositary Share.
Brainsway Ltd. chief financial officer Ido Marom filed an initial ownership report showing his equity stake in the company. He directly holds 51,250 Ordinary Shares, a figure that includes unvested restricted stock units that will vest in scheduled quarterly installments through dates extending to March 2030.
Marom also holds stock options over 46,875 Ordinary Shares granted in August 2023 and 17,500 Ordinary Shares granted in March 2024, both vesting in equal quarterly installments through 2027 and 2028, with exercise prices of NIS 4.28 and NIS 11.17 per share, respectively. This filing records existing holdings rather than new market purchases or sales.
Brainsway Ltd. director Karen Sarid filed an initial ownership report showing equity in both shares and options. She holds 12,500 Ordinary Shares, a figure that includes 6,250 shares and 6,250 restricted stock units that vest quarterly until March 5, 2028. She also holds stock options over 25,000 Ordinary Shares, with the remaining 12,500 options vesting in equal quarterly installments through the same date and carrying an exercise price of NIS 11.17 per share. The Ordinary Shares may be represented by American Depositary Shares, each currently equal to one Ordinary Share.