Dividend Power Score
A single, comprehensive score designed to measure the true strength of a company’s dividend.
This score combines three essential pillars of dividend quality:
Consistency – Measures how reliable the dividend has been over time, focusing on payment history, stability, and the absence of cuts or suspensions.
Payability – Assesses the company’s financial ability to sustain its dividend, taking into account cash flow, earnings coverage, balance sheet strength, and overall financial health.
Growth – Evaluates the long-term growth of both the dividend and the company’s share price, highlighting businesses that consistently increase payouts while creating shareholder value.
Higher scores identify companies that have historically delivered dependable income alongside sustained dividend growth and long-term capital appreciation.
Company Overview
BrainsWay Ltd. is a medical technology company focused on the development and commercialization of noninvasive neurostimulation treatments using proprietary Deep Transcranial Magnetic Stimulation (Deep TMS) technology. The company operates within the medical devices and mental health treatment industries, targeting neurological and psychiatric disorders that have significant unmet clinical needs. BrainsWay’s systems are primarily used in outpatient clinical settings and are regulated medical devices cleared by the U.S. Food and Drug Administration (FDA) for multiple indications.
The company’s core revenue drivers are the sale of Deep TMS systems, recurring sales of disposable treatment components, and service contracts. BrainsWay primarily serves psychiatric clinics, hospitals, and academic medical centers, with a strong focus on treatment-resistant depression, obsessive-compulsive disorder, smoking addiction, and other neuropsychiatric conditions. Founded in 2003 in Israel, BrainsWay originated from research at the Weizmann Institute of Science and has evolved from a research-driven enterprise into a commercially focused company with the United States as its largest market. Its strategic advantage lies in its patented H-Coil technology, which enables deeper and broader brain stimulation compared to traditional TMS systems.
Business Operations
BrainsWay operates as a single-reportable-segment company centered on the development, manufacturing, and commercialization of Deep TMS systems and related products. Revenue is generated through capital equipment sales, consumables used during treatment sessions, extended warranties, and maintenance services. While the company does not formally break out multiple operating segments, its business model emphasizes a growing installed base that drives recurring high-margin consumable revenue.
The company conducts research and development primarily in Israel, while commercial activities are concentrated in the United States through its wholly owned subsidiary BrainsWay Inc. Manufacturing is performed through a combination of internal oversight and third-party contract manufacturers. BrainsWay maintains clinical and academic collaborations but does not rely on material joint ventures for revenue generation. Its operations and disclosures are governed by public reporting obligations, including filings such as SEC Form 20-F.
Strategic Position & Investments
BrainsWay’s strategic direction is focused on expanding clinical indications for Deep TMS, increasing utilization within its installed base, and strengthening its leadership in noninvasive brain stimulation. Growth initiatives include pursuing additional FDA clearances, investing in clinical trials for new neuropsychiatric and neurological indications, and expanding physician education and awareness programs in key markets.
The company has historically favored organic growth over large-scale acquisitions, investing primarily in internal research and development rather than building a diversified acquisition portfolio. Strategic investments center on next-generation coil development, digital treatment optimization, and data-driven clinical outcomes research. Data inconclusive based on available public sources regarding any material acquisitions or equity investments in external portfolio companies.
Geographic Footprint
BrainsWay is headquartered in Israel, where its research, development, and executive management functions are primarily based. The company’s largest commercial presence is in North America, particularly the United States, which represents the majority of its revenue and installed systems.
Beyond the United States and Israel, BrainsWay maintains a growing presence in Europe, Asia-Pacific, and Latin America, primarily through distributors and select direct sales relationships. Its systems are installed in multiple countries worldwide, reflecting an international regulatory and commercialization strategy focused on developed healthcare markets with established mental health infrastructure.
Leadership & Governance
BrainsWay was founded by Dr. Abraham Zangen, whose academic research formed the foundation of the company’s Deep TMS technology. The leadership team emphasizes a clinically driven and evidence-based strategy, prioritizing regulatory approvals, peer-reviewed research, and physician adoption to support long-term growth.
Key executives include:
- Chris Von Jako – President & Chief Executive Officer
- Eyal Neuman – Chief Financial Officer
- Dr. Abraham Zangen – Founder & Director
- Dr. Joseph Zohar – Director & Scientific Advisor
The board and executive leadership collectively promote a strategy centered on disciplined commercialization, regulatory compliance, and sustained investment in innovation to reinforce BrainsWay’s position in the global neurostimulation market.