Beyond Air Inc Financials
Beyond Air Inc (XAIR) reported $7.7M in revenue over the twelve months to Jun 30, 2026, up 60.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Beyond Air’s dominant mechanic is commercial growth outrunning a still-heavy development cost base, with financing bridging the operating cash gap.
From FY2024 to FY2026, revenue rose from$1.2M to$7.7M while operating cash outflow narrowed from$56.0M to$18.1M , showing that early sales are improving cash absorption without reaching self-funding. Gross margin also moved from-112.8% to3.3% , indicating the latest improvement reflects reaching positive product-level economics rather than merely reducing overhead.
In FY2026, research and development spending was
FY2026 financing cash flow of
Financial Health Signals
Scored against emerging companies for FY2026. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Beyond Air Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Beyond Air Inc scores -14.42, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($4.9M) relative to total liabilities ($29.2M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Beyond Air Inc passes 6 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Beyond Air Inc reported a net loss of $33.2M while operations used $18.1M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Beyond Air Inc reported an operating loss of $29.0M against $3.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Beyond Air Inc generated $7.7M in revenue in fiscal year 2026. This represents an increase of 107.3% from the prior year.
Beyond Air Inc's EBITDA was -$25.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.5% from the prior year.
Beyond Air Inc reported -$33.2M in net income in fiscal year 2026. This represents an increase of 28.7% from the prior year.
Cash & Balance Sheet
Beyond Air Inc recorded an outflow of $19.2M in free cash flow in fiscal year 2026, representing a cash shortfall after capex. This represents an increase of 56.5% from the prior year.
Beyond Air Inc held $6.7M in cash as of fiscal year 2026; long-term debt is not reported for that period.
Not reported for fiscal year 2026.
Margins & Returns
Beyond Air Inc's gross margin was 3.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is up 48.2 percentage points from the prior year.
Beyond Air Inc's ROE was -542.8% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 199.5 percentage points from the prior year.
Not shown for fiscal year 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Beyond Air Inc invested $10.2M in research and development in fiscal year 2026. This represents a decrease of 39.2% from the prior year.
Beyond Air Inc invested $1.0M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 82.6% from the prior year.
Not reported for fiscal year 2026.
XAIR Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.8M-7.3% | $1.9M-13.1% | $2.2M+20.7% | $1.8M+3.3% | $1.8M+52.8% | $1.2M+7.5% | $1.1M+34.3% | $798K |
| Cost of Revenue | $1.5M-14.9% | $1.8M-4.3% | $1.9M-10.5% | $2.1M+31.9% | $1.6M+35.6% | $1.2M-8.1% | $1.3M-31.6% | $1.9M |
| Gross Profit | $225K+139.4% | $94K-68.7% | $300K+200.7% | -$298K-291.0% | $156K+587.5% | -$32K+85.1% | -$215K+80.2% | -$1.1M |
| R&D Expenses | $2.0M-13.9% | $2.3M-6.3% | $2.4M-0.9% | $2.5M-20.6% | $3.1M-5.3% | $3.3M+8.4% | $3.0M-34.5% | $4.6M |
| SG&A Expenses | $4.9M-2.2% | $5.0M+11.7% | $4.5M-9.1% | $4.9M+4.8% | $4.7M+20.7% | $3.9M-49.8% | $7.7M+7.9% | $7.2M |
| Operating Income | -$6.6M+7.8% | -$7.2M-8.7% | -$6.6M+13.9% | -$7.7M-0.6% | -$7.6M-6.2% | -$7.2M+34.5% | -$11.0M+14.7% | -$12.8M |
| Interest Expense | $1.5M+20.3% | $1.2M+14.0% | $1.1M+70.3% | $639K+16.6% | $548K-5.4% | $579K+5.5% | $549K-40.8% | $927K |
| Net Income | -$7.9M+22.8% | -$10.3M-40.2% | -$7.3M+7.6% | -$7.9M-3.2% | -$7.7M+4.3% | -$8.0M+38.4% | -$13.0M+2.4% | -$13.4M |
| EPS (Diluted) | -$11.00 | -$0.57 | -$0.85+32.0% | -$1.25 | -$30.67 | -$0.05 | -$2.96 | -$5.67 |
Not reported in any period shown, so not listed: Income Tax.
XAIR Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $32.9M-7.0% | $35.4M-3.8% | $36.8M+18.8% | $31.0M+10.1% | $28.1M-6.5% | $30.1M-12.0% | $34.1M-35.6% | $53.0M |
| Current Assets | $22.8M-7.7% | $24.8M-3.1% | $25.6M+37.5% | $18.6M+24.0% | $15.0M-6.4% | $16.0M-17.2% | $19.3M-49.1% | $38.0M |
| Cash & Equivalents | $5.5M-18.3% | $6.7M+1.5% | $6.6M-31.5% | $9.7M+94.9% | $5.0M+6.7% | $4.7M+1.4% | $4.6M-83.8% | $28.4M |
| Inventory | $1.3M-8.1% | $1.4M-20.2% | $1.8M-21.0% | $2.2M-8.4% | $2.4M+0.7% | $2.4M+1.6% | $2.4M-5.9% | $2.5M |
| Accounts Receivable | $1.1M+5.0% | $1.1M-5.6% | $1.2M+29.0% | $892K+10.9% | $804K+13.2% | $710K+11.1% | $639K+14.9% | $556K |
| Total Liabilities | $30.1M+3.0% | $29.2M+2.4% | $28.5M+59.4% | $17.9M+0.9% | $17.7M+12.6% | $15.7M-0.3% | $15.8M-33.5% | $23.7M |
| Current Liabilities | $6.9M+6.1% | $6.5M+30.5% | $5.0M+13.8% | $4.4M-5.3% | $4.6M-7.5% | $5.0M-7.9% | $5.4M-17.7% | $6.6M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $11.8M-5.3% | $12.5M |
| Total Equity | $2.0M-67.4% | $6.1M-24.5% | $8.1M-36.3% | $12.7M+28.3% | $9.9M-26.9% | $13.6M-23.0% | $17.6M-37.3% | $28.1M |
| Retained Earnings | -$327.5M-2.5% | -$319.6M-3.3% | -$309.3M-2.4% | -$302.0M-2.7% | -$294.0M-2.7% | -$286.3M-2.9% | -$278.3M-4.9% | -$265.3M |
Not reported in any period shown, so not listed: Goodwill.
XAIR Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$4.9M0.0% | -$4.9M-17.2% | -$4.2M+5.3% | -$4.5M+1.6% | -$4.5M+34.9% | -$7.0M+10.0% | -$7.7M+42.1% | -$13.3M |
| Capital Expenditures | $208K-62.0% | $547K+1508.8% | $34K-86.2% | $246K+24.2% | $198K-86.8% | $1.5M+179.0% | $537K-54.3% | $1.2M |
| Free Cash Flow | -$5.2M+6.2% | -$5.5M-29.2% | -$4.3M+9.5% | -$4.7M+0.5% | -$4.7M+44.1% | -$8.5M-2.2% | -$8.3M+43.1% | -$14.5M |
| Investing Cash Flow | $461K+203.1% | -$447K+88.9% | -$4.0M-1784.6% | $240K-58.3% | $576K-77.7% | $2.6M+137.2% | -$6.9M-143.0% | $16.1M |
| Financing Cash Flow | $3.1M-37.6% | $4.9M-56.3% | $11.2M+25.6% | $8.9M+119.3% | $4.1M-9.6% | $4.5M+148.8% | -$9.2M-142.6% | $21.6M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
XAIR Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q1'27 | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.7%+7.8pp | 4.9%-8.7pp | 13.7%+30.1pp | -16.4%-25.3pp | 8.9%+11.6pp | -2.8%+17.3pp | -20.1% | -135.8% |
| Operating Margin | -374.0% | -376.0% | -300.6% | -421.4% | -432.8% | -622.6% | -1021.6% | -1608.1% |
| Net Margin | -448.8% | -539.2% | -334.4% | -436.7% | -437.0% | -697.4% | -1215.7% | -1673.9% |
| Return on Equity | -397.4%-229.5pp | -167.8%-77.4pp | -90.5%-28.1pp | -62.4%+15.1pp | -77.5%-18.3pp | -59.1%+14.7pp | -73.9%-26.4pp | -47.5% |
| Return on Assets | -24.1%+4.9pp | -29.1%-9.1pp | -20.0%+5.7pp | -25.6%+1.7pp | -27.4%-0.6pp | -26.7%+11.4pp | -38.2%-13.0pp | -25.2% |
| Current Ratio | 3.31-0.5x | 3.80-1.3x | 5.12+0.9x | 4.24+1.0x | 3.240.0x | 3.20-0.4x | 3.56-2.2x | 5.76 |
| Debt-to-Equity | 15.05+10.3x | 4.76+1.3x | 3.51+2.1x | 1.40-0.4x | 1.78+0.6x | 1.16+0.5x | 0.67+0.2x | 0.44 |
| FCF Margin | -291.5% | -288.0% | -193.8% | -258.5% | -268.4% | -733.9% | -771.5% | -1819.9% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Gross Margin, Operating Margin, Net Margin, FCF Margin.
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Where Beyond Air Inc Ranks
Frequently Asked Questions
What is Beyond Air Inc's annual revenue?
Beyond Air Inc (XAIR) reported $7.7M in total revenue for fiscal year 2026. This represents a 107.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Beyond Air Inc's revenue growing?
Beyond Air Inc (XAIR) revenue grew by 107.3% year-over-year, from $3.7M to $7.7M in fiscal year 2026.
Is Beyond Air Inc profitable?
No, Beyond Air Inc (XAIR) reported a net income of -$33.2M in fiscal year 2026.
What is Beyond Air Inc's EBITDA?
Beyond Air Inc (XAIR) had EBITDA of -$25.9M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
What is Beyond Air Inc's gross margin?
Beyond Air Inc (XAIR) had a gross margin of 3.3% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Beyond Air Inc's return on equity (ROE)?
Beyond Air Inc (XAIR) has a return on equity of -542.8% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Beyond Air Inc's free cash flow?
Beyond Air Inc (XAIR) recorded an outflow of $19.2M in free cash flow during fiscal year 2026. This represents a 56.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Beyond Air Inc's operating cash flow?
Beyond Air Inc (XAIR) recorded an outflow of $18.1M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
What are Beyond Air Inc's total assets?
Beyond Air Inc (XAIR) had $35.4M in total assets as of fiscal year 2026, including both current and long-term assets.
What are Beyond Air Inc's capital expenditures?
Beyond Air Inc (XAIR) invested $1.0M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Beyond Air Inc spend on research and development?
Beyond Air Inc (XAIR) invested $10.2M in research and development during fiscal year 2026.
What is Beyond Air Inc's current ratio?
Beyond Air Inc (XAIR) had a current ratio of 3.80 as of fiscal year 2026, which is generally considered healthy.
What is Beyond Air Inc's debt-to-equity ratio?
Beyond Air Inc (XAIR) had a debt-to-equity ratio of 4.76 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Beyond Air Inc's return on assets (ROA)?
Beyond Air Inc (XAIR) had a return on assets of -94.0% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
How does Beyond Air Inc's liquidity compare with its operating cash outflow?
At the end of fiscal year 2026, Beyond Air Inc (XAIR) held $11.6M in cash, cash equivalents and investments, and reported an operating cash outflow of $18.1M over that year. Dividing the one by the other, the reported balance equals about 8 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Beyond Air Inc's Altman Z-Score?
Beyond Air Inc (XAIR) has an Altman Z-Score of -14.42, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Beyond Air Inc's Piotroski F-Score?
Beyond Air Inc (XAIR) has a Piotroski F-Score of 6 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Beyond Air Inc's earnings high quality?
Beyond Air Inc (XAIR) reported a net loss of $33.2M while operations used $18.1M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Beyond Air Inc cover its interest payments?
Beyond Air Inc (XAIR) reported an operating loss of $29.0M against $3.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Beyond Air Inc?
Beyond Air Inc (XAIR) scores 63 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.