BrainsWay Ltd. (NASDAQ:BWAY) Q3 2024 Earnings Conference Call November 12, 2024 8:30 AM ET
Company Participants
Brian Ritchie - IR, LifeSci Advisors
Hadar Levy - CEO
Ido Marom - CFO
Conference Call Participants
Steven Lichtman - Oppenheimer
Jeff Cohen - Ladenburg Thalmann & Company
Operator
Good day, and welcome to the BrainsWay Third Quarter 2024 Earnings Conference Call. [Operator Instructions]. Please note this event is being recorded.
I would now like to turn the conference over to Brian Ritchie of LifeSci Advisors. Please go ahead.
Brian Ritchie
Thank you all, and welcome to BrainsWay's third quarter 2024 earnings conference call.
With us today are BrainsWay's Chief Executive Officer, Hadar Levy; and Chief Financial Officer, Ido Marom.
The format for today's call will be a discussion of recent trends and business updates from Hadar followed by a detailed discussion of the financials. Then we will open up the call for your questions. Earlier today, BrainsWay released financial results for the three and nine months ended September 30, 2024.
A copy of the press release is available on the company's Investor Relations website. Before I turn the call over to Hadar, I would like to remind you that this conference call including both management's prepared remarks and the question-and-answer session may contain projections or other forward-looking statements regarding, among other topics, BrainsWay's anticipated future operating and financial performance, business plans and prospects and expectations for its products and pipeline, which were all subject to risks and uncertainties including shifting market conditions resulting from geopolitical, supply chain and other factors as well as the use of non-GAAP financial information. Additional information regarding these and other risks are available in the company's earnings release and in its other filings with the SEC, including the Risk Factors section contained in BrainsWay Form 20-F.
I would now like to turn the call over to Hadar. Please go ahead, Hadar.
Hadar Levy
Thank you, Brian. Welcome, everyone, and thank you for joining us today.
As reported earlier this morning, we had another outstanding quarter of growth. Most importantly, global market demand for our industry-leading Deep TMS system continues to be strong and led to a year-over-year increase of 26% in revenue to a $10.5 million for the third quarter of 2024.
In addition, we generated positive quarterly net income for the fourth consecutive quarter and positive adjusted EBITDA and cash flow from operations for the fifth consecutive quarter.