BWAY 6-K

Brainsway Ltd. (BWAY)

6-K 2026-05-13 For: 2026-05-13

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Added on July 04, 2026

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Exhibit		Title

99.1		BrainsWay Reports First Quarter 2026 Financial Results and Operational Highlights

		BRAINSWAY LTD.
		(Registrant)


Date: May 13, 2026		/s/ Hadar Levy
		Hadar Levy
		Chief Executive Officer

BRAINSWAY LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
U.S. dollars in thousands

	March 31,			December 31,
	2026			2025
ASSETS	(Unaudited)			(Audited)
Current Assets
Cash and cash equivalents	$	58,636		$	67,700
Restricted cash		251			251
Trade receivables, net		7,530			4,111
Inventory		7,078			6,523
Other current financial assets		1,138			1,432
Other current assets		3,993			3,807
		78,626			83,824
Non-Current Assets
System components		1,799			1,584
Leased systems, net		4,897			4,860
Other property and equipment		880			788
Right-of-use assets		5,334			5,548
Other long-term assets		2,306			1,931
Other non-current financial assets		23,156			14,656
		38,372			29,367
	$	116,998		$	113,191

LIABILITIES AND EQUITY
Current Liabilities
Trade payables	$	2,928		$	2,428
Deferred revenues		9,912			10,551
Liability in respect of development grants		1,776			1,679
Current maturities of lease liabilities		1,105			1,075
Other accounts payable		7,834			6,762
		23,555			22,495
Non-Current Liabilities
Deferred revenues		7,841			6,762
Liability in respect of development grants		4,204			5,029
Lease liabilities		5,601			5,742
		17,646			17,533

Equity
Share capital		439			430
Share premium		163,855			162,221
Reserve for share-based payment		2,207			3,506
Currency Translation Adjustments		(2,188	)		(2,188	)
Accumulated deficit		(88,516	)		(90,806	)
		75,797			73,163

	$	116,998		$	113,191

BRAINSWAY LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
U.S. dollars in thousands (except per share data)

	For the three months ended March 31,
	2026		2025
	(Unaudited)
Revenues	$	15,531	$	11,536
Cost of revenues		3,856		2,926
Gross profit		11,675		8,610


Research and development expenses, net		2,881		2,332
Selling and marketing expenses		4,930		4,162
General and administrative expenses		1,859		1,540
Total operating expenses		9,670		8,034

Operating Income		2,005		576

Finance income		724		1,274
Finance Expense		319		586
Income before taxes on income		2,410		1,264
Taxes on income		120		157
Net income	$	2,290	$	1,107

Basic net income per share	$	0.06	$	0.03

Diluted net income per share	$	0.06	$	0.02

BRAINSWAY LTD. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
U.S. dollars in thousands

	For the three months ended March 31,
	2026			2025
	(Unaudited)
Cash flows from operating activities:
Total comprehensive profit	$	2,290		$	1,107
Adjustments to reconcile net profit to net cash provided by operating activities:
Adjustments to profit or loss items:
Depreciation and amortization		167			191
Depreciation of leased systems		298			203
Impairment and disposal of inventory and system components		(252	)		208
Finance income, net		(556	)		(688	)
Cost of share based payment		342			325
Income taxes		119			157
Total adjustments to reconcile profit		118			396
Changes in asset and liability items:
Increase in inventory		(100	)		(73	)
Increase in trade receivables		(3,455	)		(2,349	)
Increase in other current assets		(152	)		(78	)
Decrease in other financial assets		420			-
Increase (decrease) in trade payables		526			(740	)
Increase (decrease) in other accounts payable		563			(384	)
Increase in deferred revenues		440			6,312
Total changes in asset and liability		(1,758	)		2,688
Cash paid and received during the period for:
Interest paid		(108	)		(98	)
Interest received		629			913
Income taxes received		-			4
Total cash paid and received during the period		521			819
Net cash provided by operating activities:		1,171			5,010

Cash flows from investing activities:
Purchase of property and equipment and system components, net		(769	)		(1,043	)
Purchase of financial assets measured at fair value		(8,500	)		-
Investment in deposits		-			(923	)
Withdrawal of short-term deposits		3			-
Investment in Commission asset		(61	)		-
Net cash used in investing activities		(9,327	)		(1,966	)

Cash flows from financing activities:
Repayment of liability in respect of research and development grants		(733	)		(638	)
Repayment of lease liability		(168	)		(117	)
Net cash used in financing activities		(901	)		(755	)
Exchange rate differences on cash and cash equivalents		(7	)		(33	)

Increase (decrease) in cash and cash equivalents		(9,064	)		2,256
Cash and cash equivalents at the beginning of the period		67,700			69,345
Cash and cash equivalents at the end of the period	$	58,636		$	71,601

(a) Significant non cash transactions:
Right-of-use asset recognized with corresponding lease liability	$	7		$	27

BRAINSWAY LTD.
A reconciliation of Adjusted EBITDA to net income, the most directly comparable IFRS measure, is set forth below:
U.S. dollars in thousands (except share and per share data)

	For the three months ended March 31,
	2026			2025
	(Unaudited)
Net Income	$	2,290		$	1,107

Finance income, net		(405	)		(688	)
Income taxes		120			157
Depreciation and amortization		167			191
Depreciation of leased systems		298			203
Cost of share based payment		342			325
Adjusted EBITDA	$	2,812		$	1,295