Page 1

2/25/25 , 2:52 PM ( 1 ) New Messages ! Find a Provider BrainsWay Reports Second Quarter 2021 Financial Results and Operational Highlights News » BrainsWay Reports Second Quarter 2021 Financial Results and Operational Highlights Strong Revenue Growth of 45 % Year - over - Year in Q2 2021 BrainsWay News Gained Meaningful Traction in Reimbursement for Deep TMSTM in both OCD and Depression Conference Call to be held Today at 8:30 AM ET BURLINGTON , MA . and JERUSALEM , Israel , August 11 , 2021 - BrainsWay Ltd. ( NASDAQ & TASE : BWAY ) ( " BrainsWay ” or the “ Company ” ) , a global leader in advanced noninvasive neurostimulation treatments for mental health disorders , today reported second quarter 2021 financial results and provided an operational update . Recent Financial and Operational Highlights ✓ For the three months ended June 30 , 2021 , revenues were $ 7.0 million , a 45 % increase as compared to the same period in 2020 . ✓ As of June 30 , 2021 , BrainsWay's Deep TMSTM installed base was 682 total systems , a 20 % increase from the installed base at the same point in the prior year . ✓ As of June 30 , 2021 , the total number of OCD add - on helmets shipped was 247 , representing OCD treatment capability on 36 % of the Company's installed base . ✓ ✓ Achieved significant progress in reimbursement for Deep TMS in the treatment of OCD and depression ✓ Received key positive coverage policies in OCD from Centene and Health Care Service Corporation ( HCSC ) , a leading Blue Cross Blue Shield licensee , which collectively represent approximately 42 million covered lives ✓ First draft Local Coverage Determination ( LCD ) published applicable to OCD by the Medicare Administrative Contractor ( MAC ) , Palmetto GBA , which represents over 9 million covered lives ✓ Multiple smaller private payors covering the Company's depression treatment have continued the trend of decreasing the number of required prior medication failures from three or four to two Received encouraging early data from completing patients in the Company's controlled market release of Deep TMS for smoking addiction ✓ Initiated the Company's largest patient awareness campaign to date ; early results have yielded an over 300 % increase in patient inquiries for Deep TMS treatment during June and July " We are pleased with our strong performance in the second quarter and the increasingly positive trends impacting our company , " stated Christopher von Jako , Ph.D. , President and Chief Executive Officer of BrainsWay . " Our revenues of $ 7.0 million represented a substantial 45 % increase over the pandemic - impacted second quarter of 2020 , as our business continues to demonstrate significant momentum . ” Hey there , welcome to BrainsWay ! What brings you to the site today ? " Importantly , we are beginning to gain meaningful traction in OCD reimbursement important long - term growth driver in enhancing patient access to Deep TMS . Spec coverage policies from Centene and HCSC , which collectively represent approximately 42 million covered lives . In https://www.brainsway.com/news_events/brainsway-reports-second-quarter-2021-financial-results-and-operational-highlights/ 1/7