Brainnwave
Brainnwave is a neurotechnology company specializing in AI-driven neurostimulation treatments for mental health disorders.
Profile
Brainnwave develops AI-powered neurostimulation devices for treating mental health conditions.
Brainnwave is a neurotechnology company specializing in AI-driven neurostimulation treatments for mental health disorders. Founded in the early 2020s, the company has positioned itself as a leader in noninvasive neurostimulation, with a focus on Deep Transcranial Magnetic Stimulation (Deep TMS) technology. Brainnwave's financial trajectory shows robust growth, with Q1 2026 revenue increasing 35% year-over-year to $15.5 million and net income more than doubling to $2.3 million.
The company's installed base of Deep TMS systems grew to approximately 1,820 units, reflecting strong demand in both clinical and enterprise settings. Brainnwave has also expanded its payer support, securing insurer coverage for its accelerated SWIFT protocol and gaining traction with nurse practitioner-administered TMS. The company is advancing its clinical pipeline, including studies for alcohol use disorder and a planned FDA filing for PTSD in MDD patients. With a cash balance of $58.9 million as of March 2026, Brainnwave is well-capitalized to execute its growth strategy.
Who buys this
- Mental health clinics and hospitals
- Enterprise healthcare providers
- Insurance companies covering neurostimulation treatments
- Research institutions conducting clinical trials
- Government healthcare programs
Strengths and what to watch
Strengths
- Strong revenue growth (35% YoY in Q1 2026) and profitability (net income doubled to $2.3 million)
- Expanding payer coverage, including first insurer adoption of SWIFT protocol
- Robust clinical pipeline with upcoming FDA filing for PTSD treatment
Watch for
- Dependence on FDA approvals for new treatment indications
- Competition from other neurostimulation technologies
- Potential reimbursement challenges as payer policies evolve
Recent moves
Key Information
- Founded
- 2020
Frequently Asked Questions
What does Brainnwave do?
Brainnwave develops AI-powered neurostimulation devices for mental health treatment, specializing in Deep Transcranial Magnetic Stimulation (Deep TMS). Their noninvasive technology targets conditions like depression, with growing adoption in clinics and hospitals. The company reported $15.5M Q1 2026 revenue, showing 35% year-over-year growth.
How does Brainnwave's Deep TMS technology work?
Brainnwave's Deep TMS uses magnetic pulses to stimulate brain regions linked to mental health disorders noninvasively. Their AI-enhanced system includes the SWIFT protocol for accelerated treatment. Over 1,820 units are installed globally, with nurse practitioner-administered options expanding access.
What mental health conditions does Brainnwave treat?
Brainnwave currently treats depression with Deep TMS and is advancing clinical studies for alcohol use disorder. They plan an FDA filing for PTSD in major depressive disorder patients. Their technology shows promise for multiple neuropsychiatric conditions.
Is Brainnwave's neurostimulation covered by insurance?
Brainnwave has expanded payer support, including the first insurer adoption of its SWIFT protocol. Coverage varies by provider, but their growing reimbursement approvals improve patient access. The company continues working with insurers and government healthcare programs.
How is Brainnwave performing financially?
Brainnwave reported strong Q1 2026 results: $15.5M revenue (35% YoY growth) and $2.3M net income (more than doubled). With $58.9M cash reserves and 1,820 installed units, the company is well-positioned for expansion.
What are the risks of investing in Brainnwave?
Key risks include dependence on FDA approvals for new indications, competition from alternative neurostimulation technologies, and evolving insurance reimbursement policies. However, their strong financials and clinical pipeline mitigate some concerns.
Sources
- investors.brainsway.com — Q1 2026 financial results and operational highlights
- quartr.com — Q1 2026 earnings summary and financial highlights
- www.stocktitan.net — 2025 financial results and 2026 outlook
- markets.businessinsider.com — Q1 2026 financial results announcement