XAIR

Image source: The Motley Fool. Thursday, Aug. 13, 2026 at 8:00 a.m. ET Chief Executive Officer - Robert Goodman Chief Financial Officer - Daniel Moorhead LifeSci Advisors - Corey Davis Operator: Greetings, and welcome to the Beyond Air Financial Results for the quarter ending June 30, 2026. [Operator Instructions] And now I would like to turn the call over to Corey Davis, LifeSci Advisors. Please go ahead. Corey Davis: Thank you, Operator. Good morning, everyone, and thank you for joining us. Earlier today, we issued a press release announcing the operational highlights and financial results for Beyond Air's quarter ended June 30, 2026. A copy of this press release can be found on our website, beyondair.net, under the News and Events section. Before we begin, I'd like to remind everyone that we will be making comments and various remarks about future expectations, plans, and prospects, which constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Beyond Air cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those indicated. We encourage everyone to review the company's filings with the SEC, including, without limitation, the company's most recent Form 10-K and Form 10-Q, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. Additionally, this conference call is being recorded and will be available for audio rebroadcast on our website, beyondair.net. Furthermore, the content of this call contains time-sensitive information that is accurate only as of the date of the live broadcast, August 13, 2026. Beyond Air undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this call. With that, I'll turn the call over to Robert Goodman, Chief Executive Officer of Beyond Air. Bob, the floor is yours. Robert Goodman: Thanks, Corey, and good morning, everyone. With me today is Dan Moorhead, our Chief Financial Officer. As we just had our last quarterly call a few weeks ago, I'll keep my prepared remarks fairly brief. Over the past few months, we've been focused on positioning Beyond Air for its next phase of growth. We strengthened our balance sheet through an up to $30 million financing, regained compliance with Nasdaq's listing requirements, and continue to expand the commercial foundation supporting LungFit PH. Collectively, these actions have strengthened the company's financial position, increased our commercial reach, and enhanced our ability to execute on what we believe is a significant opportunity ahead of us. As we prepare for the planned commercial launch of our second-generation LungFit PH system, pending FDA approval, our priorities are focused on continuing to expand market access, deepen relationships with hospitals and health systems, grow our commercial pipeline, and execute with financial discipline. We believe these efforts will position Beyond Air to drive broader adoption of the LungFit PH while creating a stronger platform for long-term growth. Turning to the financial results, revenue for the quarter ended June 30, 2026, was $1.8 million, which is effectively flat from the March '26 quarter. While revenue remained relatively consistent, we made meaningful progress advancing the commercial and operational initiatives that we believe will support stronger growth as we move through the remainder of the year and prepare for the planned launch of our second-generation LungFit PH system. We continue to execute against several initiatives designed to expand market access and increase commercial adoption. During the quarter, we entered into a national group purchasing agreement with a leading U.S. GPO, becoming the third major national GPO to partner with Beyond Air. Together with our existing agreements with Premier and Vizient, these relationships provide access to a substantial portion of U.S. hospitals and health systems and represent an important component to our commercial strategy. We also continue to expand our global distribution network through new and existing commercial partnerships, further extending LungFit PH's reach into the international markets. Another growth center for the company will be the expansion of our international distribution. We have a number of partnerships already in place that cover more than 40 countries. As a result of our strengthened financial position following the recent equity raise, we're in a better position to support our partners' efforts to bring LungFit PH to market in many of these areas. We look forward to providing updates on these programs as appropriate. As it relates to the Gen II LungFit system in the U.S., which remains under review at the FDA, we continue to believe this to be the most important near-term catalyst for the company. We submitted our PMA supplement to the FDA in June of 2025, and based off of our interactions with the FDA to date, we continue to believe we are on track for a potential approval in the second half of this calendar year, although the timing and outcome of the review remain subject to the FDA approval process. Accordingly, we continue to prepare for a potential commercial launch. We are maintaining a disciplined and focused approach to capital allocation. We continue to dedicate our resources predominantly to LungFit PH. In our press release issued earlier today, we reaffirmed our previously issued revenue guidance of $8 million for calendar 2026, representing approximately 15% growth over calendar year 2025. I think it is worth noting that we're not including any revenue from the second-generation LungFit for 2026. We also reaffirm our previously issued 2027 revenue guidance of $16 million to $18 million, representing more than 110% growth at the midpoint compared with our 2026 guidance. The guidance for 2027 does include revenue from the potential commercial launch for the second-generation LungFit PH system, subject to FDA approval. Looking forward, Beyond Air is approaching an important inflection point. With continued international expansion and planned commercial launch of our second-generation LungFit systems pending approval, we have established a stronger foundation to accelerate commercial execution and drive meaningful revenue over the coming years. With that, I'll turn the call over to Dan for a review of our financial results. Dan? Daniel Moorhead: Thanks, Bob, and good morning, everyone. I'll walk through our financial results for the quarter ended June 30, 2026. Revenue for the quarters ended June 30, 2026, and 2025, was $1.8 million. Gross margin for the quarter ended June 30, 2026, was 13%, compared with gross margin of 9% for the same period last year. This marks our third consecutive quarter of positive gross profit. Research and development expenses for the quarters ended June 30, 2026, were $2 million, compared to $3.1 million for the same period last year. Selling, general, and administrative expenses for the quarter ended June 30, 2026, were $4.9 million, compared with $4.7 million for the same period last year. Other expense for the quarter ended June 30, 2026, was $1.5, million compared with $500,000 for the same period last year. Net loss attributable to common stockholders of Beyond Air for the quarter ended June 30, 2026, was $7.9 million, or a loss of $11 per basic and diluted share, compared with a net loss of $7.7 million, or $30.67 per share, for the same period last year. As of June 30, 2026, we reported cash, cash equivalents, restricted cash, and marketable securities of $15.2 million. Please note, this cash total does not include our recent financing. As Bob previously mentioned, we recently announced a financing for up to $30 million, which provided $10 million in upfront gross proceeds and the potential for up to an additional $20 million upon the exercise of short- and long-term warrants. This financing provides us with the financial flexibility to execute the planned commercial launch of our second-generation LungFit PH in the U.S., pending FDA approval, as well as the international commercial expansion, subject to applicable regulatory approvals. On our last quarterly call, we announced the change in our fiscal year-end from March 31 to December 31. While we are referring to calendar year goals, you may notice our SEC filing will still be on our March 31 fiscal year-end. We will move to calendar year reporting with the SEC subsequent to our December 31, 2026, filing. With that, we will now open the call for questions. Operator: With that, we will now open the call for questions. [Operator Instructions] Our first question comes from Michael King with Rodman & Renshaw. Please proceed with your question. Jillian Weiss: This is Jillian Weiss on the line for Michael King from Rodman & Renshaw. So you mentioned the financing will support the Gen II LungFit PH launch and commercial rollout. Can you give us a little more detail on what the capital will actually be used for and where you expect to see the biggest investment over the next several quarters? Daniel Moorhead: Sure, I can take that. It really is a lot for operations. So what we have going right now is we have the pilots, which are being built on the Gen II device, in the near term, and then upon FDA clearance, we'd be building a lot more devices and gaining commercial steam for 2027 and beyond. So it's really an operations function, but a lot of it is on the device. And then we are obviously in a cash burn position right now, so it will absorb some of that burn during that period as well. Jillian Weiss: And are things starting to pick up on the contracting side, and do you think hospitals may be more willing to spend remaining budgets heading into year-end? Robert Goodman: Yes, we've noticed a lot of pickup with contracting. Actually, our commercial functions really picked up a lot of that pace with a number of different new opportunities in front of us. Pipelines actually doubled over the last five or six months. So as you know, long sales cycle there, yet a lot of really -- a lot of this has picked up. So, yes. Jillian Weiss: Okay, great. Thanks for taking my questions, and congrats on the quarter. Operator: Thank you. Our next question comes from Yale Jen with Laidlaw & Company. Please proceed with your question. Yale Jen: My first question is, any update in terms of the supplement PMA applications? What I meant is that, any interaction with the FDA and any other related stuff? Then I have a follow-up. Robert Goodman: Yes, let me take that one, Dan. So yes, we've had a lot of activity and a lot of progress with the PMA supplement. So we've begun to submit paperwork to the FDA. They're already reviewing the paperwork, as Dan touched on. We're doing a couple of things with our contract manufacturer, finishing up our engineering build and our pilot builds of all the different products that will be validated by the FDA. So that's all part of this slew of paperwork that goes to them, and it all kind of lands on the performance qualification. It'll be a desk audit that the FDA will eventually be doing with us. So all the different paperwork that's needed to go to them is getting to them on time. We're getting really good communication back and forth. I think I had mentioned on the last call, but this is a really good team over at the FDA. Very communicative, they get back to us within minutes or hours, sometimes days if it would typically take weeks, but they're really quick. And we're really positive on the way the process has been going. Yale Jen: So at this point, would that still be things to be submitted, or basically everything is pretty much done except waiting for their decisions? Robert Goodman: No, it's less of the decision piece and more of setting up. The next phase that we're in, and we're in this now, is that it's the audit phase. As they're reviewing the paperwork, they'll decide when the audits take place. There's a few different audits. We're already ready for a couple of those. And once our final pilot builds are done, which are happening now, we're doing that, then that part of the process will be dropped into their audit queue and their teams will come in and do their audits with us. But yes, we're where we should be and they've received pretty much everything they need to receive. There's always a little back and forth, but not a back and forth that's setting us back. It's more of a, 'Hey, can you furnish us this?' 'oh, yes, that was in document A.' So, yes, everything's where it should be. Yale Jen: Maybe just follow up on that, which is that given we are already in the midst of the third quarter right now, so should we really expect the potential decision likely be in the fourth quarter? Robert Goodman: Yes, you know, I mean, what we're trying not to do is pinpoint an exact date. Only, Yale, the only reason for that, as you know, is it's not like with pharmaceuticals where you have a PDUFA date. Right, it's a medical device, we have to give a range. And yes, to your point, yes, we're now a month into Q3, so likely that would be a Q4 period. We're still in H2, and yes, if you want to try to figure out whether it be in Q3 or Q4, that's up to the FDA and how they're processing everything. So I guess let me step back and just say it's still going to be in H2, but we're only a month and a half away from Q4. Yale Jen: Great. Maybe the last question, which is slightly different from the earlier one, which is that, given that the guidance you have $8 million to $10 million revenues for this year, the calendar '26, so a majority of them will come from the second half, which is starting this quarter. And just curious, what are the confidence at this point to support you feel that the second half will be -- have a greater revenue growth versus the first half? Robert Goodman: Yes, so a couple of pieces on that, and Dan can definitely weigh in as well. But no, not $8 million to $10 million. The guidance was $8 million for this year. And so we're looking, really it's, if we could roll in about $3.7 million in H1, that means around $4.3 million in H2, and we're very confident that we'll be hitting that number. And the reason being is the pipeline that I referred to earlier. We've already started to see wins come in the quarter we're in right now, which will have some impact on the H2 numbers. And then in addition to that, our international is starting to pick up a little bit, which is good. And that's immediate revenue recognition, as you know, because those are all being purchased. And then under our subscription model, where if you grab $1 million of business, it's not spread out over 12 months, and if we close that deal in November, you're really only getting a couple of hundred thousand dollars, you get the whole $1 million, right? So we have a lot of tenders that we have our hands firmly around. We have already won a number of opportunities within this quarter that we know will be seeing that bump up as well. So, yes, we're reaffirming certainly the $8 million and we're also firmly standing behind our 2027 guidance. So, yes, I hope that answers that. Yale Jen: That's very helpful. I appreciate it. And best of luck going forward. And thanks. Operator: We have reached the end of our question-and-answer session. I would now like to turn the floor back over to Robert Goodman for closing comments. Robert Goodman: I just want to thank everybody for joining the call this morning and for all your support. And we look forward to continuing to provide feedback and updates, and look forward to our next call together. Have a great day. Operator: This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation. Before you buy stock in Beyond Air, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Beyond Air wasn’t one of them. The 10 stocks that made the cut are built for long-term growth and could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Beyond Air (XAIR) Q1 2027 Earnings Call Transcript was originally published by The Motley Fool

Reports $1.8 million revenue for quarter ended June 30, 2026; reaffirms revenue guidance of $8 million for CY2026 and $16-$18 million for CY2027 PMA supplement for second-generation LungFit PH system under FDA review; approval expected in 2H CY2026 Recent financing up to $30.1 million to support ongoing international expansion and U.S. commercial launch of second-generation LungFit PH system, pending regulatory approval Conference call today at 8:00 a.m. ET GARDEN CITY, N.Y., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) ("Beyond Air" or the "Company"), a commercial-stage medical device and biopharmaceutical company focused on harnessing the power of nitric oxide (NO) to improve patients' lives, today announced financial results for the quarter ended June 30, 2026, and provided a corporate update. "Over the past several months, we have been focused on strengthening every aspect of the business in advance of our next phase of commercial growth," said Robert Goodman, Chief Executive Officer of Beyond Air. "We strengthened our balance sheet with an up to $30 million financing, and continued to build our commercial infrastructure, customer relationships and sales pipeline. We believe these efforts position us well for the anticipated launch of our second-generation LungFit PH system, pending FDA approval, and support our objective of expanding adoption of LungFit PH over the long term." Recent Financial and Operating Highlights Entered into a national group purchasing agreement with a leading U.S. group purchasing organization (GPO), marking the third major U.S. GPO to engage Beyond Air and expanding the Company’s reach by nearly 2,000 U.S. hospitals and health systems. Regained compliance with Nasdaq’s minimum bid price requirement. Continued to expand the Company's global distribution network for LungFit PH, which now covers more than 45 countries positioning the Company for continued international commercial expansion, subject to applicable regulatory approvals. Pending Regulatory Milestones Awaiting FDA review of the PMA supplement for the second-generation LungFit PH system, submitted in June 2025. International submissions for LungFit PH remain on track with local partners. Financial Results for the Quarter Ended June 30, 2026 Revenues for the quarters ended June 30, 2026 and 2025 were $1.8 million. Gross margins for the quarter ended June 30, 2026 were 13%, compared to 9% for the same period last year. Research and development expenses for the quarter ended June 30, 2026 were $2.0 million, compared with $3.1 million for the same period last year. Selling, general and administrative expenses for the quarter ended June 30, 2026 were $4.9 million, compared with $4.7 million for the same period last year. Other expense for the quarter ended June 30, 2026 was $1.5 million, compared with $0.5 million for the same period last year. Net loss attributable to common stockholders of Beyond Air, Inc. for the quarter ended June 30, 2026 was $7.9 million, or a loss of $11.00 per basic and diluted share, compared with a net loss of $7.7 million, or $30.67 per share, for the same period last year. As of June 30, 2026, the Company reported cash, cash equivalents, restricted cash and marketable securities of $15.2 million. Subsequent to quarter-end, the Company strengthened its balance sheet with an up to $30.1 million financing, consisting of $10.2 million in upfront gross proceeds and up to an additional $20.0 million from the potential exercise of short- and long-term warrants, including $10.0 million tied to FDA approval of the second-generation LungFit PH system. The financing was led by certain institutional healthcare investors, with additional participation from certain of the Company's directors and executive officers. Financial Guidance The Company reaffirms its previously issued revenue guidance of $8 million for calendar year 2026, which does not include any revenue from the second-generation LungFit PH system. The Company also reaffirms its previously issued 2027 revenue guidance of $16-$18 million, representing more than 110% year-over-year growth at the midpoint compared with 2026 guidance and includes anticipated revenue from the second-generation LungFit PH system, pending regulatory approval. The Company believes it is entering an important new phase of commercial execution and a potential inflection point for revenue growth, supported by expanding market access, growing customer adoption, international expansion and a significantly larger addressable market pending the commercial launch of the second-generation LungFit PH. Conference Call & Webcast Thursday, August 13, 2026 @ 8 a.m. ET Domestic: 1-877-407-0784 International: 1-201-689-8560 Conference ID: 13762077 Webcast: A webcast of the live conference call can be accessed by visiting the Events section of the Company’s website (click here) or directly (click here). An online replay will be available on the Company’s website or via the direct link an hour after the call. As previously announced, and formally approved by the Board of Directors, the Company is transitioning its fiscal year end from March 31 to December 31, effective December 31, 2026. As a result, the Company expects to report financial results for the nine-month transition period ending December 31, 2026 on a Form 10-K/T. About Beyond Air®, Inc. Beyond Air is a commercial-stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The Company has received FDA approval and CE Mark for its first system, LungFit PH, for the treatment of term and near-term neonates with hypoxic respiratory failure. For more information, visit www.beyondair.net. About LungFit Beyond Air's LungFit is a cylinder-free, phasic flow generator and delivery system designated as a medical device by the U.S. Food and Drug Administration (FDA). The ventilator-compatible version of the device can generate NO from ambient air on demand for delivery to the lungs at concentrations ranging from 1 ppm to 80 ppm. The LungFit system could potentially replace large, high-pressure NO cylinders, providing significant advantages in the hospital setting, including greatly reducing inventory and storage requirements, improving overall safety by eliminating NO2 purging steps, and offering other operational benefits. LungFit can also deliver NO at concentrations at or above 80 ppm for potentially treating severe acute lung infections in the hospital setting (e.g., COVID-19, bronchiolitis) and chronic, refractory lung infections in the home setting (e.g., NTM). With the elimination of cylinders, Beyond Air intends to offer NO treatment in the home setting. Beyond Air's LungFit PH is approved for commercial use in the United States, European Union, and many other countries around the world. Beyond Air's other LungFit systems are not approved for commercial use and are for investigational use only. Beyond Air is not suggesting NO use over 80 ppm or use at home. Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the Company’s expectations related to commercial growth, market adoption of LungFit PH, expansion of the Company’s global distribution network andexpansion in the U.S. and international markets, the Company’s ability to maintain compliance with Nasdaq’s continued listing requirements, including compliance with the terms of the Discretionary Panel Monitor, , the timing and outcome of FDA review of the PMA supplement for the second-generation LungFit PH system and the anticipated timing of its commercial launch, the use of the proceeds from, and the potention exercise of warrants issued in connection with, the Company’s recent financing, the Company’s transition of its fiscal year end from March 31 to December 31 and the timing and content of its related transition report on Form 10-K/T, revenue guidance for calendar years 2026 and 2027, and the Company’s long-term strategic and financial performance. Forward-looking statements may be identified by words such as "anticipate," "believe," "expect," "intend," "plan," "potential," "will," "would," "could," "may," and similar expressions, or by the use of future tense. Because forward-looking statements relate to future events, they are subject to inherent risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those expressed or implied in such statements. These risks and uncertainties include, but are not limited to, risks related to the Company’s ability to maintain compliance with Nasdaq’s continued listing requirements, including satisfying the terms of the one-year Discretionary Panel Monitor; the Company’s ability to complete its fiscal year-end transition and related regulatory filings in a timely manner; the timing and outcome of FDA review of the PMA supplement for the second-generation LungFit PH system and the Company’s ability to realize the anticipated benefits of its recent financing, including the risk that warrants may not be exercised; dilution to existing stockholders from the issuance of securities in the financing and any warrant exercises; the Company’s ability to successfully execute its commercial strategy, expand its distribution network and GPO relationships and achieve its revenue guidance; and other risks described in the "Risk Factors" section of Beyond Air, Inc.’s most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other subsequent filings with the Securities and Exchange Commission. CONTACTS: Investor Relations contactCorey Davis, Ph.D.LifeSci Advisors, [email protected](212) 915-2577 (1)   Prior period results have been adjusted to reflect the one-for-twenty stock split in July 2026.

This article first appeared on GuruFocus. Revenue: $1.8 million for the quarter ended June 30, 2026, effectively flat compared to the March 2026 quarter and the same period last year. Gross Margin: 13% for the quarter, up from 9% in the year-ago period, marking the third consecutive quarter of positive gross profit. Research and Development Expenses: $2.0 million for the quarter, down from $3.1 million in the same period last year. Selling, General, and Administrative Expenses: $4.9 million for the quarter, compared to $4.7 million in the year-ago period. Other Expense: $1.5 million for the quarter, compared to $500,000 in the same period last year. Net Loss: $7.9 million, or $11.00 per basic and diluted share, compared to a net loss of $7.7 million, or $30.67 per share, in the prior-year quarter. Cash Position: $15.2 million in cash, cash equivalents, restricted cash, and marketable securities as of June 30, 2026, excluding the recent up to $30 million financing. Revenue Guidance: Reaffirmed calendar 2026 revenue guidance of $8 million (approximately 15% growth over 2025) and 2027 revenue guidance of $16 million to $18 million (over 110% growth at the midpoint). Warning! GuruFocus has detected 7 Warning Signs with XAIR. Is XAIR fairly valued? Test your thesis with our free DCF calculator. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Beyond Air Inc (NASDAQ:XAIR) strengthened its balance sheet with an up to $30 million financing, providing $10 million in upfront proceeds and potential for additional $20 million from warrants. The company regained compliance with Nasdaq's listing requirements, reducing regulatory and listing risks. Beyond Air Inc (NASDAQ:XAIR) secured a third national group purchasing agreement with a leading US GPO, expanding market access to a substantial portion of US hospitals alongside Premier and Vizient. The company's global distribution network now covers more than 40 countries, with plans to support international partners' market entry. Gross margin improved to 13% from 9% year-over-year, marking the third consecutive quarter of positive gross profit. The commercial pipeline doubled over the last five to six months, indicating growing demand and potential for future revenue growth. Beyond Air Inc (NASDAQ:XAIR) reaffirmed its 2026 revenue guidance of $8 million and 2027 guidance of $16-18 million, reflecting confidence in growth trajectory. The FDA review process for the Gen II LungFit PH system is progressing well, with positive communication and timely paperwork submissions, keeping approval on track for H2 2026. Revenue for the quarter ended June 30, 2026, was flat at $1.8 million, showing no growth compared to the prior quarter. The company reported a net loss of $7.9 million for the quarter, with losses per share improving only due to a higher share count. Cash position remains tight at $15.2 million as of June 30, 2026, excluding the recent financing, indicating ongoing cash burn. The FDA approval for the Gen II LungFit PH system is still pending, with no exact timeline, and potential approval is likely pushed to Q4 2026, creating uncertainty. The company's 2026 revenue guidance excludes any contribution from the Gen II system, highlighting reliance on existing products for near-term growth. Other expenses increased significantly to $1.5 million from $500,000 year-over-year, impacting overall financial performance. The company is in a cash burn position, and the recent financing will be used to absorb operational burn, limiting flexibility for other investments. International expansion is still in early stages, with revenue recognition from these markets not yet materializing significantly. Q: Can you provide more detail on what the capital from the recent financing will be used for and where you expect to see the biggest investment over the next several quarters?A: Daniel Moorhead (CFO) stated that the capital will primarily be used for operations, specifically for building pilot devices for the Gen II system in the near term. Upon FDA clearance, the company will scale up device production to gain commercial steam for 2027 and beyond. The funds will also help absorb the company's cash burn during this period. Q: Are things starting to pick up on the contracting side, and do you think hospitals may be more willing to spend remaining budgets heading into year-end?A: Robert Goodman (CEO) confirmed a significant pickup in contracting activity. The commercial pipeline has doubled over the last five to six months, with numerous new opportunities emerging. While sales cycles remain long, the increased pace of activity is a positive indicator for future growth. Q: Any update on the supplement PMA applications and interactions with the FDA?A: Robert Goodman (CEO) reported significant progress with the PMA supplement. The company has submitted the necessary paperwork, and the FDA is currently reviewing it. They are in the audit phase, with pilot builds being finalized. Communication with the FDA has been excellent, with quick response times, and the company is confident in the process. Q: At this point, is everything pretty much done except waiting for the FDA's decision?A: Robert Goodman (CEO) clarified that the process is less about a final decision and more about completing the audit phase. The FDA will schedule audits as they review the paperwork. The company is ready for some audits and is finalizing its pilot builds. They have submitted nearly everything required, with only minor back-and-forth clarifications, and are on track. Q: Given we are in the third quarter, should we expect the potential FDA decision likely in the fourth quarter?A: Robert Goodman (CEO) noted that unlike pharmaceuticals, there is no PDUFA date for medical devices. While the company remains on track for a second-half 2026 approval, he acknowledged that with Q3 already underway, a decision is likely to fall in Q4, depending on the FDA's processing timeline. Q: Given the $8 million revenue guidance for calendar 2026, what gives you confidence that the second half will have greater revenue growth than the first half?A: Robert Goodman (CEO) explained that with approximately $3.7 million in H1 revenue, the company needs around $4.3 million in H2 to hit its target. Confidence is driven by a strong pipeline, early wins in the current quarter, and a pickup in international sales, which provide immediate revenue recognition. The subscription model also allows for full revenue recognition upon closing deals, rather than spreading it out. Q: Can you elaborate on the progress of the international distribution expansion and its impact on revenue?A: Robert Goodman (CEO) highlighted that the company has partnerships covering more than 40 countries. With the strengthened financial position from the recent equity raise, they are better equipped to support partners in bringing LungFit PH to market internationally. This expansion is expected to contribute to revenue growth, with international sales providing immediate revenue recognition. Q: What are the key priorities for the company as it prepares for the commercial launch of the second-generation LungFit PH system?A: Robert Goodman (CEO) stated that the priorities are focused on expanding market access, deepening relationships with hospitals and health systems, growing the commercial pipeline, and executing with financial discipline. These efforts are designed to drive broader adoption of LungFit PH and create a stronger platform for long-term growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management attributed the flat quarter-over-quarter revenue of $1.8 million to the long sales cycles inherent in hospital contracting, while emphasizing that the commercial pipeline has doubled over the last five to six months. The company secured a national group purchasing agreement with a third major U.S. GPO, which management views as a critical strategic component for accessing a substantial portion of U.S. hospitals. Strategic focus has shifted toward international distribution, with partnerships covering more than 40 countries now better supported by a strengthened balance sheet following recent financing. Operational efforts are currently concentrated on the PMA supplement for the second-generation LungFit PH system, which management describes as the most important near-term catalyst for the company. The company maintains a disciplined capital allocation strategy, predominantly dedicating resources to the LungFit PH platform while transitioning its fiscal year-end to December 31 to align with calendar-year reporting. Management noted that the subscription-based revenue model allows for full revenue recognition upon closing deals, providing confidence in meeting back-half targets despite the timing of contract wins. Reaffirmed calendar year 2026 revenue guidance of $8 million, which assumes approximately 15% growth over 2025 and explicitly excludes any revenue contribution from the Gen II system. Projected 2027 revenue of $16 million to $18 million, representing over 110% growth at the midpoint, contingent upon the successful commercial launch of the Gen II LungFit PH system. Management expects a potential FDA approval for the Gen II system in the second half of the calendar year, likely falling in the fourth quarter based on current audit and review progress. Future growth is expected to be driven by a combination of U.S. hospital tender wins and immediate revenue recognition from international equipment purchases. The company anticipates utilizing proceeds from the $30 million financing to fund the build-out of Gen II devices and support operations through the current cash burn phase. Strengthened the balance sheet with a financing agreement for up to $30 million, providing $10 million in upfront gross proceeds to support the Gen II launch. Regained compliance with Nasdaq's listing requirements, stabilizing the company's position in the public markets. Reported a third consecutive quarter of positive gross profit, with gross margin improving to 13% from 9% in the prior year period. Transitioned the corporate fiscal year-end from March 31 to December 31, with formal SEC reporting alignment scheduled to occur after the December 2026 filing. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that funds are primarily earmarked for operations and the manufacturing of Gen II pilot devices. A portion of the capital will be used to absorb the current cash burn as the company scales commercial steam for 2027. Management reported high levels of engagement with the FDA, noting that the agency is currently reviewing paperwork and preparing for the audit phase. The process is moving toward a desk audit of performance qualifications once final pilot builds are completed by the contract manufacturer. CEO Robert Goodman expressed high confidence in hitting the $8 million annual target, citing recent contract wins and a doubling of the sales pipeline. The company expects H2 revenue of approximately $4.3 million, supported by international sales and the unique revenue recognition of their subscription model.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Revenue growth of 107% was primarily driven by a 90% customer renewal rate and continued adoption of the current LungFit PH system in U.S. and international markets. Management achieved a $2 million swing to gross profitability, signaling the beginning of operating leverage as the commercial platform scales. The company has significantly narrowed its strategic focus, allocating resources almost exclusively to the LungFit PH system while deprioritizing non-core programs. A national purchasing agreement with a third major GPO has expanded access to approximately 2,000 additional hospitals, facilitating regional evaluations and incumbent displacement. The Gen 2 LungFit system is positioned as a critical catalyst to address the transport market, which management believes will expand the U.S. addressable market four-fold to $400 million. Operating expenses were reduced through restructuring and lower development costs following the June 2025 PMA supplement submission for the Gen 2 device. Calendar year 2026 revenue guidance of $8 million assumes no contribution from the Gen 2 system, which is slated for a late-year launch. Calendar year 2027 revenue guidance of $16 million to $18 million assumes FDA approval and the commercial launch of the Gen 2 system during 2027., representing over 110% year-over-year growth at the midpoint. Management expects the Gen 2 system to account for approximately half or more of U.S. revenue in 2027 as the company targets larger hospital systems. The company is transitioning from a March 31 fiscal year-end to a December 31 calendar year-end. Potential FDA approval for the Gen 2 system is anticipated in the second half of the calendar year, supported by ongoing communicative interactions with the agency. A one-for-20 reverse stock split was approved to regain compliance with Nasdaq's minimum bid price requirement by the July 31, 2026, deadline. Net cash burn was reduced by 56% year-over-year to $19.1 million, reflecting disciplined capital allocation and cost-cutting initiatives. The current LungFit PH label excludes transport use, a limitation that management expects the Gen 2 system to resolve upon potential approval. The company reported $17.3 million in cash and equivalents against $21.6 million in total long-term debt as of March 31, 2026. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed they have completed extensive testing including software, cybersecurity, and altitude testing as requested by the FDA. The company expects a scientific letter shortly and is preparing for facility audits in the coming months. The 2027 revenue jump relies on Gen 2 making up roughly 50% of U.S. sales. Management expects to double U.S. revenue by increasing account volume by 50% to 70%, as the Gen 2 system allows for larger deal sizes in bigger hospital systems. Gen 2 features a four-fold increase in the duration between required maintenance starts, significantly lowering the cost of goods and service burden. The new system adds air and ground transport capabilities while maintaining the 'unlimited' nitric oxide production from room air found in Gen 1.

Image source: The Motley Fool. Friday, June 26, 2026 at 8:00 a.m. ET Chief Executive Officer - Robert Goodman Chief Financial Officer - Dan Moorhead Need a quote from a Motley Fool analyst? Email [email protected] Operator: Morning everyone, and welcome to the Beyond Air financial results call for fiscal year ended March 31st, 2026. I'd like to turn the call over to Garth Russell with LifeSci Advisors. Garth Russell: Thank you, operator. Good morning, everyone, and thank you for joining us. Earlier today, we issued a press release announcing the operational highlights and financial results for Beyond Air's fiscal year ended March 31st, 2026. A copy of this press release can be found on our website, www.beyondair.net. Before we begin, I would like to remind everyone that we will be making forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Beyond Air cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those indicated. We encourage everyone to review the company's filings with the Securities and Exchange Commission. This conference call is accurate only as of the date of the live broadcast, June 26, 2026. With that, I'll now turn the call over to Robert Goodman, Chief Executive Officer of Beyond Air. Robert Goodman: Thanks, Garth, and good morning to everyone. Also here with me today is Dan Moorhead, our Chief Financial Officer. This is my first earnings call as Chief Executive Officer, and I'm excited to lead Beyond Air during what I believe is a pivotal moment for the company. Over the last several months, I've spent a lot of time with our customers, commercial organization, distribution partners, and board, and those discussions have only strengthened my conviction that LungFit PH represents a significant commercial opportunity to establish Beyond Air as a leader in the nitric oxide market. As a leadership team, we've become increasingly focused on aligning our commercial strategy, R&D efforts, and operating expenses across our core business, particularly as we move closer to regulatory approval of our second-generation LungFit system. With our Gen 2 system, if approved, we expect to be more competitive and offer a more attractive solution for a broader range of hospital systems with external transport needs. As a result, we see the potential to immediately expand our total addressable market to over $1 billion globally. Our strategy is very straightforward — we are allocating our resources with discipline toward the opportunities we believe can create the greatest near and long-term value, including adoption of our current commercial LungFit system and preparing for the launch of our Gen 2 system. Fiscal 2026 displayed meaningful progress toward this goal. Revenue increased more than 107% year-over-year to $7.7 million, driven by strong retention among our existing customer base and continued new hospital adoption. Importantly, our customer renewal rate was approximately 90%, which reflects the value LungFit PH is delivering in clinical practice and the confidence our customers have in our technology and operational service support. This high level of customer satisfaction should be directly transposable to the Gen 2 device, and we continue to receive consistent feedback from prospective customers that they're waiting for our next generation platform to help meet all of their comprehensive INO requirements, including their transport needs. As a reminder, the current label for LungFit PH does not include transport use outside of the hospital. If approved, the Gen 2 product is intended to address this limitation through a broader label that would include transport use. We believe this will increase the total U.S. addressable market approximately four-fold to approximately $400 million and expand the worldwide opportunity to more than $1 billion. We've made meaningful progress expanding our commercial reach. We recently announced a national purchasing agreement with one of the top three U.S. group purchasing organizations for inhaled nitric oxide therapy — the third major GPO to engage Beyond Air and another important milestone in expanding access to LungFit PH. Combined with our existing agreements with Premier and Vizient, we now have access to a substantial portion of the U.S. market. Additionally, we continued to broaden our global distribution network throughout the year and now have regulatory clearance in over 45 countries. As it relates to our Gen 2 LungFit PH system, which is under review at the FDA, we believe this to be the most important near-term catalyst for the company. We submitted our PMA supplement to the FDA in June 2025 and continue to work through the review process at the expected pace. Based on our interactions with the FDA and the progress of the review process to date, we continue to believe we are on track for potential approval in the second half of the calendar year, although the timing and outcome remains subject to the FDA's discretion. We continue to prepare for a potential commercial launch by the end of 2026. We continue to hear from prospective customers that the anticipated features of the Gen 2 platform — including a smaller footprint, reduced weight, simplified operation, longer service intervals, and ground and air transport availability — may address needs that are not fully met by currently available alternatives. In terms of other programs outside of our core LungFit PH business, our priority is clear. The Beyond Air team and its resources are focused on the success and growth of the commercial activities around the LungFit PH system, and we will continue to allocate our resources almost exclusively to that system. With fiscal 2026 complete, we are transitioning from a March 31 to December 31 year-end and begin operating on a calendar year-end. As a result, we're providing revenue guidance for the first time for calendar year 2026 of $8 million, equating to approximately 15% growth over calendar year 2025. Our first-time guidance for calendar year 2027 is $16 million to $18 million, which would represent over 110% year-over-year growth at the midpoint and assumes FDA approval and commercial launch of the Gen 2 system during 2027 in accordance with our current planning assumptions. With that, I'll turn the call over to Dan for review of the financial results. Dan Moorhead: Thanks, Bob, and good morning, everyone. I'll walk through our full-year financial results for fiscal year 2026, which ended March 31st, 2026. Revenues for the fiscal year ended March 31st, 2026, increased 107% to $7.7 million, compared with $3.7 million for fiscal year 2025. This growth was driven by increased demand for LungFit PH in both U.S. and international markets. Gross profit for fiscal year 2026 improved $300,000 compared with a loss of $1.7 million in the prior year — a $2 million swing to profitability, which is a meaningful milestone and reflects the operating leverage we are beginning to see as revenue scales. R&D expenses for fiscal year 2026 decreased 39% to $10.2 million, compared with $16.9 million for fiscal year 2025. The reduction was primarily driven by decreased employee expenses as a result of prior restructuring activities and lower development costs associated with our Gen 2 device and PMA supplement, which was submitted to the FDA in June 2025. SG&A expenses for fiscal year 2026 were $19.1 million compared with $26 million for fiscal year 2025, a decrease of 27% or approximately $7 million, primarily driven by lower employee-related costs from prior restructuring initiatives. In total, we reduced our cost structure significantly year-over-year, which, in combination with revenue growth, drove a 35%, or $15.5 million, improvement in operating results. Other expense for fiscal year 2026 was $5.3 million compared with $3.9 million for fiscal year 2025. Net loss attributable to common stockholders for fiscal year 2026 was $33.2 million, or a loss of $4.01 per basic and diluted share, compared with $46.6 million or $13.77 per share for fiscal year 2025. Net cash burn, excluding inflows from financing activities, was $19.1 million, down 56% compared to fiscal year 2025. As of March 31st, 2026, we reported cash equivalents, restricted cash, and marketable securities of $17.3 million. Total long-term debt outstanding was $21.6 million. With that, I'll hand the call back to Bob. Robert Goodman: Thanks, Dan. Before we open the call for questions, I want to briefly address our Nasdaq listing. Earlier this month, we announced that the Nasdaq hearings panel granted our request to continue listing on the Nasdaq stock market, subject to our regaining compliance with Nasdaq's minimum bid price requirement by July 31st, 2026. Following stockholder approval at the special meeting held on June 18th, our board approved a one-for-20 reverse split. As a result, we expect the reverse split positions the company to regain compliance with the bid requirement by the July 31st deadline. With that, we'll now open the call for questions. Operator: Our first question comes from the line of Yale Jen with Laidlaw & Company. Yale Jen: Two questions. First, on the second-gen PMA supplement — can you give any color on what level of questions has been asked and the responses you already have? Robert Goodman: With the second-generation supplement, we're completely on track. We've done all types of testing around our software, ventilator testing, cybersecurity, EMC testing, bootloader testing, altitude testing — all as asked by the FDA as part of this supplement. The supplement was put in a year ago and we're expecting to have our scientific letter with all the I's dotted and T's crossed momentarily. From there, the next step is getting into additional communication with the FDA. Along the way, they've been incredibly communicative, getting back to us really quickly. All this information has been passed back and forth, which is helping us know where we stand in the process. We're looking forward to doing our audits in the upcoming couple of months and taking things from there. Yale Jen: On the $8 million guidance for 2026 — does that include the $1.9 million top line from calendar Q1, and what do you call that period? Dan Moorhead: When we're talking about the $8 million for calendar 2026, that would include the $1.9 million we just reported for January through March, plus the calendar quarters ending June 30, September 30, and December 31. The $8 million is a pure calendar year 2026 number, including the quarter we just reported. The Gen 2 launch isn't supposed to happen till late in the year, so we're not counting any Gen 2 revenue in calendar 2026. We expect to see the majority of that coming in beginning in calendar 2027. Operator: Our next question comes from the line of Michael King with Rodman & Renshaw. Mike King: A couple of things on the 2027 guidance. What proportion do you think Gen 2 might represent? And how critical are the group purchasing agreements to executing against that guidance as opposed to conquering individual accounts? Dan Moorhead: On the 2027 revenue, since Gen 2 wouldn't be sold internationally to begin with, if we look at just the U.S. portion, it ends up being about half or maybe a little more than half of U.S. revenue. We have a lot of business that's pretty sticky with good renewal rates, and contracts carry over year to year. The Gen 2 stuff starting to come in during 2027 makes up around half of U.S. revenue for 2027. Mike King: In terms of account conquest needed to make those numbers? Dan Moorhead: It varies. We're moving from a smaller TAM right now — without the transportability, we're dealing with smaller hospitals. We expect deal size to increase. If we're doubling revenue in the U.S., it's going to be probably 50% to 70% more accounts rather than having to double the number of accounts. Mike King: Does Gen 2 have the same capacity as the current generation despite its smaller footprint? Robert Goodman: Both products provide unlimited nitric oxide from room air and both are the fastest as far as speed to treatment — you can start them up, stop them, start them again, which is very important at the bedside. The major differentiator with the Gen 2 once approved is that it'll be fully designed for transport, with air and ground capability, opening up the larger total addressable market. The other major difference is a change in the predictability of duration between starts for a device going into the field — approximately four times longer before any maintenance is needed. That's a big difference for cost of goods and for customers managing the product. Much easier to use, no storage issues compared to competitors, and the transport capability. Very excited about those pieces. Mike King: On the GPOs and their criticality to the guidance — Robert Goodman: The most recent GPO that we signed on April 1st is up and running, and we're already doing evaluations. Part of our contracting was to make sure we could get in front of flagship hospital systems immediately to start evaluations, get product in the hospitals, and knock out incumbents. This is happening now. There are already accounts coming on board based on that. There are three major GPOs in the U.S. that cover roughly around 7,000 hospitals, and all the different integrated delivery networks underneath them. With the most recent GPO, there's almost 2,000 hospitals. One of the evaluations we're working with is responsible for 200 hospitals. The pilots and evals we're doing are with regions — groups of 10, 17, and 22 hospitals within the IDNs — and it just spider webs out from there. We're approaching the evaluation process at the appropriate pace and it's going great. Operator: At this time, we're showing no further questions. I'd now like to turn the call back over to Robert Goodman for any closing remarks. Robert Goodman: We appreciate everybody coming on the call today, and we look forward to providing future guidance and delivering for our shareholders. Everybody have a nice day. Thank you. Operator: Thank you. This concludes today's conference call. You may disconnect your lines at this time. Thank you for your participation. Before you buy stock in Beyond Air, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Beyond Air wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Beyond Air (XAIR) Q4 2026 Earnings Call Transcript was originally published by The Motley Fool

Revenue increased by 107% year-over-year to $7.7 million in the full fiscal year 2026; increased revenue by 66% YoY in the fiscal fourth quarter 2026 The Company is transitioning its year-end from March 31st to December 31st Announced revenue guidance of $8 million for the year ending December 31, 2026 which represents approximately 15% growth; and $16-$18 million or more than 110% growth for the year ending December 31, 2027 Conference call at 8:00 a.m. ET today, June 26th GARDEN CITY, N.Y., June 26, 2026 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”), a commercial-stage medical device and biopharmaceutical company focused on harnessing the power of nitric oxide (NO) to improve patients' lives, today announced its financial results for the fiscal fourth quarter and year ended March 31, 2026, and provided a corporate update. “Fiscal 2026 was a year of meaningful transition for Beyond Air, marked by significant progress in strengthening the foundation of our LungFit PH commercial program,” said Robert Goodman, Chief Executive Officer of Beyond Air. “Since being appointed CEO, I have focused on sharpening our commercial execution while aligning our R&D efforts and operating resources with the opportunities we believe can create the greatest shareholder value. Our fiscal 2026 performance, including the 107% revenue growth, strong customer retention of over 90% and new hospital customer wins, reflect that focus and positions us for what we believe could be an important inflection point for the business.” “We are encouraged by the market interest in the second-generation LungFit PH system, which is currently under FDA review,” continued Mr. Goodman. “Subject to FDA approval, the system is designed to provide a smaller footprint, reduced weight, simplified operation, longer service intervals and expanded operational flexibility. The PMA supplement seeks expanded FDA labeling that would permit use during patient transport by air and ground. If approved, we believe the addressable market opportunity for the LungFit platform could increase by 4X in the United States to approximately $400 million, and to more than $1 billion worldwide,” concluded Mr. Goodman. Recent Financial and Operating Highlights: Revenue increased 107% to $7.7 million for the fiscal year ended March 31, 2026, compared with $3.7 million for the fiscal year ended March 31, 2025. The growth was driven by increased demand for LungFit PH in both the U.S. and international markets. Revenue increased 66% to $1.9 million for the fiscal quarter ended March 31, 2026, compared with $1.2 million for the same period last year. Awarded a national group purchasing agreement for inhaled nitric oxide therapy with a leading U.S. group purchasing organization (GPO), marking the third major U.S. GPO to engage Beyond Air and significantly expanding the Company’s access to a broad network of healthcare providers. Expanded the global distribution network for LungFit PH throughout fiscal year 2026, which now covers more than 45 countries positioning the Company for continued international commercial expansion, subject to applicable regulatory approvals. Robert Goodman was appointed as Chief Executive Officer in March 2026 and will continue to serve on the Company’s board of directors. Mr. Goodman is a seasoned healthcare executive and board member with a distinguished track record of leadership across the life sciences industry. Dan Moorhead was appointed as Chief Financial Officer in January 2026. Mr. Moorhead has more than 20 years of finance leadership experience across both public and private companies. Bob Carey assumed the role of Chairman of the Board, reflecting the Board's continued focus on strengthening governance and supporting the Company's next phase of commercial and strategic growth. Nasdaq granted the Company’s request to continue listing on The Nasdaq Stock Market, subject to regaining compliance with Nasdaq Stock Market LLC’s Listing Rule 5550(a)(2) (the “Bid Price Rule”) by July 31, 2026. Following stockholder approval at the Company’s June 18 special meeting, the Board approved a 1-for-20 reverse stock split, which is expected to enable the Company to regain compliance ahead of the deadline. Pending Regulatory Milestones Awaiting approval of the PMA supplement for the second-generation LungFit PH, which was submitted to the U.S. FDA in June 2025. International submissions for LungFit PH remain on track with local partners. Fiscal Quarter Ended March 31, 2026 Financial ResultsRevenues for the fiscal quarter ended March 31, 2026 increased 66% to $1.9 million, compared with $1.2 million for the fiscal quarter ended March 31, 2025. Gross profit increased to $94,000 for the quarter ended March 31, 2026, compared with a gross loss of $32,000 for the quarter ended March 31, 2025. The increase in gross profit was primarily attributed to sales growth. Research and development expenses for the fiscal quarter ended March 31, 2026 decreased 30% to $2.3 million, compared with $3.3 million for the fiscal quarter ended March 31, 2025. Selling, general and administrative expenses for the fiscal quarter ended March 31, 2026 increased 28% to $5.0 million, compared with $3.9 million for the fiscal quarter ended March 31, 2025. The increase was primarily attributed to one-time severance and related charges. Other expense for the quarter ended March 31, 2026 was $3.2 million compared with other expense of $0.9 million for the quarter ended March 31, 2025. Net loss attributed to common stockholders of Beyond Air, Inc. for the quarter ended March 31, 2026 was ($10.3) million or a loss of ($0.77) per share, basic and diluted, compared with ($8.0) million or a loss of ($1.79) per share, basic and diluted, for the fiscal quarter ended March 31, 2025. Net cash burn, excluding inflows from financing activities, was $5.4 million for the fiscal quarter ended March 31, 2026. Fiscal Year Ended March 31, 2026 Financial ResultsRevenues for the fiscal year ended March 31, 2026 increased 107% to $7.7 million, compared with $3.7 million for the fiscal year ended March 31, 2025. Gross profit increased to $0.3 million for the fiscal year ended March 31, 2026, compared with a gross loss of $1.7 million for the fiscal year ended March 31, 2025. The increase in gross profit was primarily attributed to sales growth. Research and development expenses for the fiscal year ended March 31, 2026 decreased 39% to $10.2 million compared with $16.9 million for the fiscal year ended March 31, 2025. The reduction was primarily driven by decreased employee expenses as a result of prior restructuring activities and lower development costs associated with our Gen 2 device and PMA supplement, which was submitted to the FDA in June 2025. Selling, general and administrative expenses for the fiscal years ended March 31, 2026 and 2025 were $19.1 million and $26.0 million, respectively. The decrease of 27% or approximately $6.9 million was primarily attributed to a reduction in employee-related costs. Other expense for the fiscal year ended March 31, 2026 increased to $5.3 million, compared with $3.9 million for the fiscal year ended March 31, 2025. The increase in expense of approximately $1.4 million was primarily attributed to the change in fair value of derivative liability, partially offset by a reduction in the prior period loss associated with the extinguishment of debt. Net loss attributed to common stockholders of Beyond Air, Inc. was ($33.2) million, or a loss of ($4.01) per basic and diluted share, for the fiscal year ended March 31, 2026, compared with ($46.6) million, or a loss of ($13.77) per basic and diluted share, for the fiscal year ended March 31, 2025. Net cash burn, excluding inflows from financing activities, was $19.1 million for the fiscal year ended March 31, 2026. As of March 31, 2026, the Company reported cash, cash equivalents, restricted cash and marketable securities of $17.3 million. Total long-term debt outstanding was $21.6 million as of March 31, 2026. The Company has $18.2 million remaining available under its equity line of credit. The Company is transitioning its fiscal year-end from March 31st to December 31st. Financial Guidance for Full Calendar Years 2026 and 2027The Company announced revenue guidance of $8 million for calendar year 2026, representing 15% growth compared with calendar year 2025. For calendar year 2027, the Company announced revenue guidance of $16-$18 million, representing more than 110% year-over-year growth at the midpoint compared with 2026 guidance and including the commercial launch of the second-generation LungFit PH system. With expanding market access, growing customer adoption, international expansion and a significantly larger addressable market pending the commercial launch of the second-generation LungFit PH, the Company believes it is entering an important new phase of commercial execution and a potential inflection point for revenue growth. About Beyond Air®, Inc.Beyond Air is a commercial-stage medical device and biopharmaceutical company dedicated to harnessing the power of endogenous and exogenous nitric oxide (NO) to improve the lives of patients suffering from respiratory illnesses, neurological disorders, and solid tumors. The Company has received FDA approval and CE Mark for its first system, LungFit PH, for the treatment of term and near-term neonates with hypoxic respiratory failure. For more information, visit www.beyondair.net. About LungFit *Beyond Air's LungFit is a cylinder-free, phasic flow generator and delivery system designated as a medical device by the U.S. Food and Drug Administration (FDA). The ventilator-compatible version of the device can generate NO from ambient air on demand for delivery to the lungs at concentrations ranging from 1 ppm to 80 ppm. The LungFit system could potentially replace large, high-pressure NO cylinders, providing significant advantages in the hospital setting, including greatly reducing inventory and storage requirements, improving overall safety by eliminating NO2 purging steps, and offering other operational benefits. LungFit can also deliver NO at concentrations at or above 80 ppm for potentially treating severe acute lung infections in the hospital setting (e.g., COVID-19, bronchiolitis) and chronic, refractory lung infections in the home setting (e.g., NTM). With the elimination of cylinders, Beyond Air intends to offer NO treatment in the home setting. *Beyond Air's LungFit PH is approved for commercial use in the United States, European Union, and many other countries around the world. Beyond Air's other LungFit systems are not approved for commercial use and are for investigational use only. Beyond Air is not suggesting NO use over 80 ppm or use at home. About Nitric OxideNitric Oxide (NO) is a potent molecule, naturally synthesized in the human body, proven to play a critical role in a broad array of biological functions. In the airways, NO targets the vascular smooth muscle cells that surround the small resistance arteries in the lungs. Currently, exogenous inhaled NO is used in adult respiratory distress syndrome, post certain cardiac surgeries and persistent pulmonary hypertension of the newborn to treat hypoxemia. Additionally, NO is believed to play a key role in the innate immune system and in vitro studies suggest that NO possesses anti-microbial activity not only against common bacteria, including both gram-positive and gram-negative, but also against other diverse pathogens. Forward Looking StatementsThis press release contains “forward-looking statements” concerning the potential safety and efficacy of inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate, as well as its therapeutic potential in a number of indications; and the potential impact on patients and anticipated benefits associated with inhaled nitric oxide and the ultra-high concentration nitric oxide product candidate. Forward-looking statements include statements about expectations, beliefs, or intentions regarding product offerings, business, results of operations, strategies or prospects. You can identify such forward-looking statements by the words “appears,” “expects,” “plans,” “anticipates,” “believes” “expects,” “intends,” “looks,” “projects,” “goal,” “assumes,” “targets” and similar expressions and/or the use of future tense or conditional constructions (such as “will,” “may,” “could,” “should” and the like) and by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from any future results expressed or implied by the forward-looking statements. These forward-looking statements are only predictions and reflect views as of the date they are made with respect to future events and financial performance. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including risks related to the ability to raise additional capital; the timing and results of future pre-clinical studies and clinical trials; the potential that regulatory authorities, including the FDA and comparable non-U.S. regulatory authorities, may not grant or may delay approval for our product candidates; the approach to discover and develop novel drugs, which is unproven and may never lead to efficacious or marketable products; the ability to fund and the results of further pre-clinical studies and clinical trials of our product candidates; obtaining, maintaining and protecting intellectual property utilized by products; obtaining regulatory approval for products; competition from others using similar technology and others developing products for similar uses; dependence on collaborators; and other risks, which may, in part, be identified and described in the “Risk Factors” section of Beyond Air’s most recent Annual Report on Form 10-K and other of its filings with the Securities and Exchange Commission, all of which are available on Beyond Air’s website. Beyond Air undertake no obligation to update, and have no policy of updating or revising, these forward-looking statements, except as required by applicable law. CONTACTS:Investor Relations contactsCorey Davis, Ph.D.LifeSci Advisors, [email protected] (212) 915-2577 .

This article first appeared on GuruFocus. Revenue: Increased 107% year-over-year to $7.7 million for fiscal year ended March 31, 2026. Gross Profit: Improved by $300,000, marking a $2 million swing to profitability from a loss of $1.7 million in the prior year. R&D Expenses: Decreased 39% to $10.2 million from $16.9 million in fiscal year 2025. SG&A Expenses: Decreased 27% to $19.1 million from $26 million in fiscal year 2025. Net Loss: $33.2 million, or $4.01 per share, compared to $46.6 million, or $13.77 per share, in fiscal year 2025. Net Cash Burn: $19.1 million, down 56% compared to fiscal year 2025. Cash and Equivalents: $17.3 million as of March 31, 2026. Total Long-term Debt: $21.6 million. Warning! GuruFocus has detected 6 Warning Signs with XAIR. Is XAIR fairly valued? Test your thesis with our free DCF calculator. Release Date: June 26, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Beyond Air Inc (NASDAQ:XAIR) reported a 107% year-over-year revenue increase to $7.7 million, driven by strong demand for LungFit PH. The company achieved a significant milestone by swinging to profitability with a $2 million improvement in gross profit. Customer renewal rate was approximately 90%, indicating high satisfaction and confidence in LungFit PH. Beyond Air Inc (NASDAQ:XAIR) expanded its market access through national purchasing agreements with major US group purchasing organizations. The company has regulatory clearance in over 45 countries, providing a significant opportunity for future international revenue growth. Net loss attributable to common stockholders was $33.2 million, although this was an improvement from the previous year. The company is still awaiting FDA approval for its Gen 2 LungFit PH system, which is a critical near-term catalyst. Beyond Air Inc (NASDAQ:XAIR) faces a Nasdaq listing compliance issue, requiring a reverse stock split to meet minimum bid price requirements. Operating expenses remain high, with SG&A expenses at $19.1 million, despite a decrease from the previous year. The company has a total long-term debt of $21.6 million, which could impact future financial flexibility. Q: Can you provide an update on the second-generation supplement PMA application and any questions from the FDA? A: Robert Goodman, CEO: We are on track with the second-generation supplement. We've completed various tests as requested by the FDA, including software, ventilator, and cybersecurity testing. We expect to finalize our scientific letter soon and continue communication with the FDA. The FDA has been responsive, and we anticipate audits in the coming months. Q: Does the $8 million guidance for 2026 include the $1.9 million reported for the first quarter? A: Daniel Moorhead, CFO: Yes, the $8 million guidance for calendar year 2026 includes the $1.9 million from the first quarter, plus the remaining quarters. This guidance does not include revenue from the Gen 2 launch, which is expected to begin in 2027. Q: What proportion of 2027 revenue do you expect from the second-generation product? A: Daniel Moorhead, CFO: For 2027, we anticipate that about half of the US revenue will come from the Gen 2 product. The Gen 2 will not be sold internationally initially, so this estimate pertains to domestic sales. Q: How important are group purchasing organizations (GPOs) to achieving your revenue guidance? A: Robert Goodman, CEO: GPOs are crucial for our strategy. Our recent GPO agreements allow us to access flagship hospital systems for evaluations, which helps us introduce our products and replace incumbents. This is a significant part of our growth strategy. Q: Does the Gen 2 system have the same capacity as the current LungFit system? A: Robert Goodman, CEO: The Gen 2 system offers several improvements, including transport capabilities and longer service intervals. Both systems provide unlimited nitric oxide from room air and are quick to start and stop, which is vital for patient management. The Gen 2's transport capability significantly expands our addressable market. For the complete transcript of the earnings call, please refer to the full earnings call transcript.