BrainsWay Ltd. (BWAY): Marketing Mix Analysis [Dec-2025 Updated]

You're digging into BrainsWay Ltd. to see if the recent clinical wins translate into a solid financial story, and defintely, the late-2025 marketing mix tells a compelling tale. We're looking at a core Product now cleared for adolescent MDD, an installed base exceeding 1,600 systems, and a Promotion strategy that's clearly working, evidenced by the $65 million in remaining performance obligations from signed contracts. The real kicker here is the Price structure: with 70% of new deals being multi-year leases, they are successfully converting system sales into predictable revenue, supporting that raised FY 2025 guidance of $51 million - $52 million. So, let's map out the four P's to see how this strategy is positioned for the next phase.

BrainsWay Ltd. (BWAY) - Marketing Mix: Product

The product element for BrainsWay Ltd. (BWAY) centers entirely on its proprietary Deep Transcranial Magnetic Stimulation (Deep TMS™) platform technology, a noninvasive in-office brain stimulation treatment that uses magnetic fields to activate neural networks. This platform is the sole offering, differentiating itself through superior science and an established body of clinical evidence. The core technology is built around patented H-Coils embedded in a patient and operator-friendly helmet, which allows for deeper and broader stimulation compared to First-Generation TMS coils, reducing targeting errors. The company has 16 patented H-Coils and several stimulators in its portfolio.

The product portfolio is defined by the specific H-Coils cleared for distinct indications. As of late 2025, BrainsWay Ltd. is the first and only TMS company to obtain three FDA-cleared indications backed by pivotal clinical studies demonstrating clinically proven efficacy.

• Deep Transcranial Magnetic Stimulation (Deep TMS™) system, the core technology.
• H1 Coil indication: Major Depressive Disorder (MDD), Anxious Depression, and Late-Life Depression.
• H7 Coil indication: Obsessive-Compulsive Disorder (OCD) and Major Depressive Disorder (MDD), and Anxious Depression.
• An indication for smoking addiction is also cleared, reportedly utilizing the H4 Coil designed to target the bilateral insula and PFC.

The product's market reach expanded significantly in November 2025 with the U.S. Food and Drug Administration (FDA) granting a label expansion for the Deep TMS™ system as an adjunct therapy for adolescents aged 15 to 21 years suffering from major depressive disorder (MDD). This expansion covers patients from age 15 to 86 for depression treatment. The 510(k) clearance for the adolescent indication was supported by real-world evidence collected from 1,120 adolescents (ages 15-21) treated across 35 TMS centers in the U.S. between 2012 and 2024.

A major product enhancement arrived in September 2025 with the FDA clearance for a new accelerated MDD treatment protocol, which fundamentally changes the treatment schedule and patient burden. This new protocol is commercially available in the US.

The efficacy of the H1 Coil for MDD, based on clinical data of over 1,000 patients in real practice settings, showed that among patients who completed at least 30 sessions, approximately 4 out of 5 achieved response and approximately 2 out of 3 achieved remission from depression. For the H7 Coil in OCD, greater than 1 in 2 patients who completed 29 sessions in real clinical practice achieved a sustained response.

Operationally, the installed base of the Deep TMS™ systems reflects product deployment. As of September 30, 2025, the total installed base stood at more than 1,600 systems. During the third quarter of 2025, BrainsWay Ltd. shipped a net total of 90 Deep TMS™ systems, representing a 43% increase compared to the same period last year. The business model heavily favors recurring revenue, with approximately 70% of recent customer engagements structured as multi-year lease agreements. This is supported by $65 million in remaining performance obligations from customers under multi-year contracts as of September 30, 2025.

BrainsWay Ltd. (BWAY) - Marketing mix: Place

The Place strategy for BrainsWay Ltd. centers on making its Deep TMS systems available through a combination of direct engagement in core markets and strategic partnerships to accelerate network penetration across the United States.

The physical placement of the Deep TMS systems is tracked through the installed base metric, which reflects the reach of the distribution network. As of the third quarter of 2025, the global installed base reached more than 1,600 Deep TMS systems. This growth was supported by the shipment of 90 Deep TMS systems during Q3 2025, marking a 43% year-over-year increase in shipments.

You're looking at a distribution model that prioritizes control in key geographies while using capital to build out capacity in the crucial US market. Here's the quick math on the system deployment and partnership activity:

• Distribution relies primarily on direct sales channels in the United States and Israel.
• Placement focus is within psychiatric clinics, hospitals, and large enterprise mental health networks.
• The company completed 4 minority stake strategic investments in US mental health providers in 2025.
• Cash on hand as of September 30, 2025, was approximately $71 M, providing capital for these expansion efforts.

The strategic investment component is designed to embed BrainsWay Ltd. technology deeper into the care delivery ecosystem, effectively securing future placement locations and driving awareness. The investment in Heading Health, for instance, commits up to $4 million in total, with an initial tranche of $1.5 million, to expand that network, which operates multiple sites throughout Texas.

This distribution and network expansion activity can be summarized in the following table:

The direct sales presence in the United States and Israel forms the foundation, but the capital deployment into provider networks like Heading Health is the near-term action to ensure the systems are placed where patients seek care. This approach helps secure the recurring revenue stream from the lease model, where approximately 70% of new engagements in Q3 2025 were multi-year leases.

BrainsWay Ltd. (BWAY) - Marketing Mix: Promotion

Promotion for BrainsWay Ltd. (BWAY) centers on establishing clinical superiority and expanding market access through targeted professional outreach and strategic commercial investments. The marketing emphasis is on being the first and only TMS device cleared for the broadest age range (15-86) for depression. This positioning is critical for differentiating the Deep TMS platform in a growing neurostimulation market.

Financial commitment to these promotional efforts is evident in the reported spending. Selling and marketing expenses totaled $4.7 million for the third quarter of 2025. This investment supports the commercial expansion and marketing programs designed to drive system adoption.

The promotional narrative is heavily grounded in clinical validation, particularly following recent regulatory milestones. BrainsWay Ltd. is leveraging clinical data for professional outreach to physicians and treatment centers. A key data point highlighted is the real-world data from adolescent Major Depressive Disorder (MDD) treatment, which showed a 66.1% response rate after 36 treatment sessions. This data supports the recent FDA label expansion for use as an adjunct treatment for adolescents aged 15 to 21 years suffering from depression.

Adoption drivers are being actively managed through commercial strategy. Strategic investments in clinics have led to a 50%+ utilization increase at initial partner sites, acting as a strong adoption driver. This strategy is supported by an increasing installed base and a focus on multi-year contracts, which provides revenue visibility.

The promotion strategy is supported by key operational metrics that reflect commercial success and market penetration:

• Shipped a net total of 90 Deep TMS systems in Q3 2025.
• Total installed base reached more than 1,600 systems as of September 30, 2025.
• Approximately 70% of recent customer engagements are structured as multi-year lease agreements.
• Remaining performance obligations from customers under multi-year contracts stood at $65 million as of Q3 2025.

The following table summarizes key financial and operational data points relevant to the promotional investment and resulting market traction through the third quarter of 2025:

The company's messaging also points to the efficacy demonstrated in other protocols, which informs broader professional outreach. For instance, an accelerated Deep TMS protocol showed a response rate of 87.8% in a randomized controlled trial for MDD, which is comparable to the standard protocol's 87.5% response rate.

The promotional focus on the broadest age range is substantiated by the FDA clearance for adolescents aged 15 to 21, targeting an estimated 5 million adolescents in the U.S. who experienced a major depressive episode within the past year. The company is also advancing neuroscience with its proprietary Deep TMS platform technology, which currently holds three FDA-cleared indications, including major depressive disorder, obsessive-compulsive disorder, and smoking addiction.

BrainsWay Ltd. (BWAY) - Marketing Mix: Price

Full-year 2025 revenue guidance was raised to $51 million - $52 million.

Revenue model is a mix of system sales and multi-year lease agreements with recurring revenue. Approximately 70% of new customer engagements are structured as multi-year lease deals.

Strong gross margin maintained at 75% in Q3 2025, reflecting efficient cost management. Remaining performance obligations (backlog) from signed contracts stand at approximately $65 million as of September 30, 2025.

The pricing structure heavily favors long-term commitment, which secures future revenue streams and supports margin stability.

The shift to leasing agreements directly impacts the timing and predictability of cash realization, though it builds the contract value base.

• Q3 2025 Net Profit: $1.6 million.
• Cash, cash equivalents, and restricted cash (as of September 30, 2025): $70.7 million.
• Deep TMS Systems Shipped in Q3 2025: 90.
• Total Installed Base: More than 1,600 systems.

The company's pricing strategy is intrinsically linked to its recurring revenue model, where the initial system sale or lease sets the foundation for ongoing service and maintenance revenue, which is less visible in the immediate top-line guidance but reflected in the backlog.