Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 98

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 98
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.5 million and $9.2 million for the years ended December 31,
2024, 2023 and 2022, respectively. Our revenue from sales, our other main category of activity, was $22.4 million, $20.4 million and $16.2
million for the years ended December 31, 2024, 2023 and 2022, respectively. Our revenue from sale-related and other services, was $4.1
million, $2.9 million and $1.8 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Our Deep TMS
Platform

Our proprietary Deep TMS technology is intended for
noninvasive treatment of psychiatric, neurological, and addiction disorders. The system includes an H-Coil uniquely designed to transmit
electric current flows at varying rates, creating an electromagnetic field that serves to depolarize cortical neurons and activate neural
networks in certain areas of the brain in accordance with the operating frequency, with the effect of treating the disorder associated
with that area of the brain. Our innovative technology is capable of stimulating deeper and broader regions of the brain than any other
commercially available TMS product.

We have developed a number of H-Coils with differing
configurations, building upon our technology with important changes for each coil. For different regions of the brain which are known
to be associated with specific brain disorders, we offer different H-Coils that are designed to influence the neurological networks of
those regions. For example, we have two H-Coils, targeting different brain regions, that may be used for MDD (including anxious depression),
one H-Coil used for OCD, and one H-Coil used for smoking addiction. Some of our H-Coils are also able to treat more than one indication.
The H-Coils transmit pulses which are generated by a power supply, known as a stimulator. We developed our own proprietary stimulator
that is more advanced than our previously used third-party stimulator and improves our approved Deep TMS systems through its user-friendly
software interface and other features. We expanded our FDA clearances in MDD, OCD, and smoking addiction, which had previously applied
to our older model systems with third-party stimulators, to also include current systems which incorporate our proprietary stimulator.
In addition, we are currently developing and initiated clinical testing of our next generation multichannel device, which includes our
patented “rotational field”