Company: BWAY
Filing Date: 2025-09-30
Form Type: 6-K
Source: 0001171843-25-006185
Chunk: 14

Company: Brainsway Ltd.
Filing Date: 2025-09-30
Form: 6-K
Chunk 14
---
 services organization that supports several mental health clinics in                                                                                                                       
 Colorado. Under the terms of the agreement, the Company will invest an initial amount of $2,300 in return for approximately 30% of Axis,                                                                                                        
 in the form of series A preferred stock. The agreement also provides for a potential additional milestone-based investment of up to $1,000, in exchange for an additional approximately 11% equity interest in Axis. In addition, the agreement 
 includes a redemption mechanism relating to the shares.                                                                                                                                                                                         |

| 10 |

Exhibit 99.2

#### OPERATING AND FINANCIAL REVIEW AND PROSPECTS
This Operating and Financial Review and Prospects provides information that we believe to be relevant to an assessment and understanding of our results of operations, financial condition and prospects for the periods described and as of the date of this Operating and Financial Review and Prospects. This discussion should be read in conjunction with our unaudited condensed consolidated interim financial statements and the notes to the financial statements, which are included as Exhibit 99.1 to the Report of Foreign Private Issuer on Form 6-K to which this Operating and Financial Review and Prospects is attached. In addition, this information should also be read in conjunction with the information contained in our Annual Report on Form 20-F for the year ended December 31, 2024, filed with the Securities and Exchange Commission, or SEC, on April 22, 2025, or the 2024 Annual Report, including the consolidated annual financial statements as of, and for the year ended, December 31, 2024, and the accompanying notes included therein, including the information under “Item 5. Operating and Financial Review and Prospects” in the 2024 Annual Report.

Unless the context otherwise requires, all references to “BrainsWay,”
“we,” “us,” “our,” the “Company” and similar designations refer to BrainsWay Ltd., a limited
liability company incorporated under the laws of the State of Israel, and its consolidated subsidiaries. The term “including”
means “including but not limited to”, whether or not explicitly so stated. consolidated subsidiaries, unless the context otherwise
requires.

#### Financial
and Other Information

**The term “NIS” refers to New Israeli Shekels, the lawful currency of the State of Israel, the terms “dollar”, “US$”, “$” or “USD” refer to U.S. dollars, the lawful currency of the United States of America