BrainsWay Ltd. reported its third quarter 2024 financial results on November 12, 2024, showcasing robust growth and improved profitability. The company announced a 26% year-over-year revenue growth for Q3 2024. This performance reflects continued global demand for its Deep TMS system.
The company's Adjusted EBITDA for Q3 2024 reached $1.3 million, an increase from $0.8 million in Q3 2023. Operating profit also saw a significant rise to $0.5 million in Q3 2024, up from $0.1 million in the prior year period. Net income for the quarter was $0.6 million, compared to $0.1 million in Q3 2023.
BrainsWay raised its full-year 2024 revenue guidance to a range of $40 million to $41 million. It also initiated profitability guidance for full-year 2024, expecting operating profit to be 3-4% of revenue and Adjusted EBITDA to be 11-12% of revenue. These financial updates indicate a positive outlook for the company's performance.
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