BWAY - Brainsway +4% on Q3 beat bottom-line up 66%

Brainsway (BWAY) Q3 results:Revenue of $6.01M (+1.3% Y/Y) vs. consensus of $5.5M.Gross margin fell 600 bps to 75% on account of an increased recognition of inventory obsolescence.Net loss: ($0.9M) (+65.4%); loss/share: ($0.04) (+66.7%); CF Ops: ($1.1M).As of September 30, 2020, the company had cash and short-term investments of ~$16.0M, compared with $21.9M at December 31, 2019.As of September 30, 2020, BrainsWay’s Deep TMS installed base was 593 total systems, a 22% increase Y/Y.During the quarter, BWAY received FDA 510(k) clearance for the Deep TMS system for its use as an aid in short-term smoking cessation in adults.Shares are up 4% PM.Previously: Brainsway EPS beats by $0.02, beats on revenue (Nov.18).

For further details see:

Brainsway +4% on Q3 beat, bottom-line up 66%