BrainsWay Expands U.S. Insurance Coverage for Deep TMS in OCD to More Than 118 Million Lives

BrainsWay Ltd. (NASDAQ: BWAY), a developer of noninvasive brain stimulation treatments for mental health disorders, announced on October 26, 2026 that more U.S. medical policies now cover its Deep TMS treatment for obsessive-compulsive disorder (OCD). With this expansion, more than 118 million Americans have insurance policies that provide access to Deep TMS for OCD.

Coverage for OCD Treatment

Deep Transcranial Magnetic Stimulation, or Deep TMS, is a noninvasive brain stimulation treatment built on BrainsWay’s proprietary H-coil technology. The FDA has cleared Deep TMS as an adjunct treatment for adults with OCD, alongside cleared indications for major depressive disorder and smoking addiction.

According to BrainsWay, it was the first company to receive FDA clearance for a noninvasive brain stimulation treatment for OCD. The company also says it remains the only TMS company to publish data from a randomized, placebo-controlled multicenter study of its device in OCD.

“Reaching more than 118 million covered lives represents meaningful progress in expanding access to Deep TMS for patients living with this challenging condition,” said Hadar Levy, Chief Executive Officer of BrainsWay. Levy added that the company plans to keep working with insurers, providers and other stakeholders to expand coverage and reduce barriers to treatment.

Coverage Gains for the SWIFT Protocol

The OCD update follows an October 13 announcement on SWIFT, the company’s accelerated Deep TMS protocol for major depressive disorder. At that time, BrainsWay reported that more than 70 million covered lives in the U.S. had access to policies covering SWIFT.

SWIFT is a shorter treatment course than standard Deep TMS for depression. In addition, BrainsWay presented the first prospective 12-month durability data for the protocol earlier this year, showing sustained clinical improvement through one year after treatment.

Second Quarter Results and Guidance

In its second quarter 2026 report, BrainsWay posted record revenue of $17.1 million, up 35% from $12.6 million a year earlier. Adjusted EBITDA rose to $3.5 million from $1.5 million, and net income reached $2.7 million.

The company also shipped a record 125 Deep TMS systems during the quarter, bringing its installed base to approximately 1,949. Meanwhile, remaining performance obligations grew 30% to $80.4 million, and cash, cash equivalents and restricted cash totaled $62.4 million as of June 30.

Alongside those results, BrainsWay raised its full-year 2026 guidance to revenue of $68 million to $70 million and Adjusted EBITDA of $13 million to $14 million. Levy linked the company’s momentum to expanding reimbursement coverage and increasing use across its installed base.

Strategic Investment Summary

• OCD Coverage: BrainsWay Ltd. (NASDAQ: BWAY) reported on October 26, 2026 that more than 118 million Americans now have insurance coverage for Deep TMS in OCD.
• Clinical Position: BrainsWay was the first company to receive FDA clearance for a noninvasive brain stimulation treatment for OCD.
• SWIFT Coverage: Policies covering the SWIFT accelerated protocol for depression reached more than 70 million covered lives as of October 13.
• Revenue Growth: Second quarter 2026 revenue rose 35% to a record $17.1 million, while Adjusted EBITDA more than doubled to $3.5 million.
• Installed Base: A record 125 system shipments in the quarter brought the installed base to approximately 1,949 Deep TMS systems.
• Guidance: BrainsWay expects full-year 2026 revenue of $68 million to $70 million and Adjusted EBITDA of $13 million to $14 million.

Find out more about the latest corporate developments and financial reports at the BrainsWay investor portal.