Brainsway Expands US Insurance Coverage for Accelerated Treatment to Over 70 Million
Translated & summarized from Bizportal by baba
Brainsway has expanded its insurance coverage in the U.S. for its accelerated SWIFT treatment protocol to over 70 million individuals. This marks a significant increase from previous reports and aims to boost the adoption of its non-invasive brain stimulation technology. The company also reported a 35% revenue increase in its second quarter and raised its 2026 financial outlook, alongside presenting positive clinical research findings.
The story in 6 lines · by baba
- Brainsway's SWIFT treatment protocol now has insurance coverage for over 70 million Americans.
- This represents an increase of at least 13 million covered individuals since June.
- The company reported a 35% revenue growth in its second quarter, reaching $17.1 million.
- Brainsway raised its 2026 revenue forecast to $68-70 million.
- Recent studies show potential benefits for depression, suicidal ideation, and Alzheimer's patients.
- The company is also expanding its network of clinics through strategic investments.
Brainsway, a company specializing in non-invasive brain stimulation for mental health disorders, announced a significant expansion of insurance coverage in the United States for its accelerated treatment protocol, SWIFT. The company now reports that over 70 million Americans are covered by policies that support the treatment, a substantial increase from the more than 57 million reported in June. This growth, representing at least 13 million additional individuals covered in approximately four months, is expected to facilitate broader adoption of Brainsway's technology in the U.S. market.
Insurance coverage is a critical component of Brainsway's business model. The company develops and markets Deep TMS systems, which use magnetic fields to treat depression and other disorders without surgery or implants. Increased insurer willingness to fund the treatment enhances patient access and improves the economic viability for clinics offering the therapy. The SWIFT protocol aims to shorten treatment duration by concentrating sessions into a shorter period compared to traditional multi-week treatment series, benefiting both patients with fewer clinic visits and clinics with more efficient scheduling.
However, Brainsway cautioned that 70 million covered individuals do not directly translate to 70 million potential patients, as only a fraction are expected to need the treatment and meet eligibility criteria. The company did not provide an estimate for the financial impact of this coverage expansion or the projected increase in treatments. This expansion follows earlier announcements, including one in January regarding initial coverage for SWIFT by Premera Blue Cross Blue Shield, covering over 2.8 million people, and a June report detailing support from eight major insurers and the U.S. Department of Veterans Affairs.
Brainsway recently reported strong financial results for its second quarter, with revenues rising 35% to $17.1 million. Operating profit increased to $2.4 million, and adjusted EBITDA more than doubled to $3.5 million. The company delivered 125 Deep TMS systems, a 42% increase year-over-year, and its installed base reached approximately 1,949 systems. Backlog of future performance obligations grew 30% to $80.4 million.
Following these positive results, Brainsway raised its 2026 revenue forecast to $68-70 million and projected adjusted EBITDA of $13-14 million for 2026. The company also highlighted recent research findings, including a study showing a significant reduction in suicidal ideation among major depressive disorder patients treated with its technology, and preliminary results in patients with early-stage Alzheimer's and depression. Brainsway is also investing in U.S. treatment providers to expand its clinic network and support wider adoption of its technology.