Beyond Air Reports Financial Results and Provides Corporate Update for the Quarter Ended September 30, 2026
LungFit GO received FDA Breakthrough Device Designation, but further development spending is deferred until the next LungFit PH launch is established.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Beyond Air (NASDAQ: XAIR) reported quarterly revenue of $2.3 million for the period ended September 30, 2026, its highest quarterly revenue. Revenue rose approximately 28% year over year and 31% from the June quarter. Gross profit reached $197,000 versus a $298,000 loss. Net loss attributable to Beyond Air narrowed to $7.818 million, or $3.76 per share, from $7.940 million, or $24.98 per share.
The company reaffirmed calendar-year revenue guidance of $8 million for 2026, excluding its second-generation LungFit PH system, and $16–$18 million for 2027, including anticipated sales pending FDA approval. The system remains under FDA review; audit readiness is expected in mid-December, with inspections and approval still pending. Cash, restricted cash and marketable securities totaled $18.5 million, including $2.7 million held by NeuroNOS. A definitive agreement would transfer its controlling NeuroNOS interest to UNIVO Pharmaceutical Industries.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointQuarterly revenue of $2.3 million rose approximately 28% year over year and 31% sequentially.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2026 revenue guidance reaffirmed at $8 million, excluding second-generation LungFit PH revenue.
- Moderate point. Forward-looking: it has not happened yet and may not happen.2027 revenue guidance reaffirmed at $16–$18 million, including anticipated second-generation sales pending FDA approval.
- Moderate pointQuarterly gross profit of $197,000 reversed a $298,000 gross loss a year earlier.
- Moderate pointQuarterly research and development expense fell to $1.581 million from $2.450 million a year earlier.
- Moderate pointQuarterly operating loss narrowed to $5.975 million from $7.661 million a year earlier.
- Moderate pointDefinitive NeuroNOS sale agreement signed with UNIVO for Beyond Air’s controlling interest.
10 minor points
- Minor pointQuarterly selling, general and administrative expense fell to $4.591 million from $4.913 million a year earlier.
- Minor pointQuarterly attributable net loss narrowed to $7.818 million from $7.940 million; loss per share fell to $3.76 from $24.98.
- Minor pointSix-month revenue increased to $4.092 million from $3.578 million in the corresponding 2025 period.
- Minor pointSix-month gross profit reached $422,000 versus a $142,000 gross loss in the corresponding 2025 period.
- Minor pointSix-month research and development expense fell to $3.540 million from $5.536 million a year earlier.
- Minor pointSix-month selling, general and administrative expense fell to $9.469 million from $9.600 million a year earlier.
- Minor pointSix-month operating loss narrowed to $12.587 million from $15.278 million a year earlier.
- Minor pointSecond-generation LungFit PH launch preparations advanced, subject to FDA approval.
- Minor pointLungFit GO received FDA Breakthrough Device Designation for nontuberculous mycobacterial pulmonary disease.
- Minor pointBeyond Cancer partnership options are being evaluated while Beyond Air prioritizes LungFit PH commercialization.
Negative
- Moderate point. Forward-looking: it has not happened yet and may not happen.Second-generation LungFit PH remains under FDA review; audit readiness is expected in mid-December, with inspections and approval pending.
- Moderate pointQuarterly interest and finance expense increased to $1.504 million from $639,000 a year earlier.
- Moderate pointContract manufacturer inventory obsolescence caused a $567,000 quarterly loss, versus none a year earlier. 14% of market cap
- Minor pointQuarterly debt-extinguishment loss was $252,000, versus none a year earlier.
- Minor pointSix-month attributable net loss widened to $15.753 million from $15.631 million despite lower per-share losses.
4 minor points
- Minor pointSix-month interest and finance expense increased to $2.996 million from $1.187 million a year earlier.
- Minor pointLong-term debt, net, increased to $21.982 million from $21.639 million at March 31, 2026.
- Minor pointRestricted cash totaled $4.8 million at September 30, 2026.
- Minor point. Forward-looking: it has not happened yet and may not happen.LungFit GO development spending is deferred until second-generation LungFit PH commercialization is well established following FDA approval.
News Explained
Higher debt-related interest and a scrapped-materials charge contributed to increased other expense for the quarter.
Beyond Air says it does not plan to allocate resources to further development of LungFit GO until the second-generation LungFit PH’s commercial launch is well established following FDA approval, leaving further GO development deferred.
For the quarter, other expense was
Details
Market Reaction – XAIR
On Nov 11, the day this news came out, the latest delayed price for XAIR is 4.94% below the previous close. Our momentum scanner has recorded 37 alerts for this stock so far that day. The latest delayed price is $2.50. Relative volume is exceptionally heavy at 25.8x the stock’s average daily volume.
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Key Figures
- Quarterly revenue
- $2.3 million
- Quarter ended September 30, 2026; highest quarterly revenue reported
- Year-over-year revenue growth
- Approximately 28%
- Quarter ended September 30, 2026
- Quarter-over-quarter revenue growth
- 31%
- Compared with the quarter ended June 30, 2026
- 2026 revenue guidance
- $8 million
- Calendar year 2026; excludes second-generation LungFit PH revenue
- 2027 revenue guidance
- $16 million to $18 million
- Calendar year 2027; includes anticipated second-generation system revenue, pending FDA approval
- Net loss attributable to common stockholders
- $7.8 million
- Quarter ended September 30, 2026
- Cash, restricted cash and marketable securities
- $18.5 million
- As of September 30, 2026; includes cash held by NeuroNOS and Beyond Cancer
- Audit-readiness target
- Mid-December
- Expected completion before FDA inspections and final approval
Previous Earnings Reports
-
June-quarter revenue was $1.8 million; guidance remained $8 million for 2026 and $16–$18 million for 2027.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
pma supplement regulatory
ntm-pd medical
stock-based compensation financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Record quarterly revenue of
PMA supplement for second-generation LungFit PH system remains under FDA review; transport capability expected to drive greater market penetration, pending approval
Reaffirms revenue guidance of
Conference call today at 4:30 p.m. ET
GARDEN CITY, N.Y., Nov. 11, 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 September 30, 2026, and provided a corporate update.
“Building on the commercial momentum we are generating with our first-generation LungFit PH system, we believe our second-generation system has the potential to substantially expand our market opportunity and accelerate growth, pending FDA approval,” said Robert Goodman, Chief Executive Officer of Beyond Air. “Our US pipeline is now experiencing unprecedented expansion with an acceleration in demand for our first-generation system and high receptivity to our technology and its operational efficiencies, creating a natural demand for our next generation product. We are especially pleased with the pace of new account wins and rate of renewals, which speak to the high level of customer satisfaction with our unique technology – all of which we believe we can leverage into the potential future launch of our second-generation LungFit PH system. 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.”
Mr. Goodman continued, “We remain encouraged by our active and productive discussions with the FDA and the progress we are making toward completing the remaining steps in the review process for the second-generation LungFit PH system. We expect to complete our audit-readiness process in mid-December, and subject to FDA inspections and final approval thereafter.”
Recent Financial and Operating Highlights
- Reported revenue of
$2.3 million for the quarter ended September 30, 2026, the highest quarterly revenue in the Company’s history, representing approximately28% growth over the same period last year and31% growth compared with the quarter ended June 30, 2026. - Executed the Company’s enhanced commercial strategy for first-generation LungFit PH, supporting increased adoption of its cylinder-free nitric oxide technology.
- Advanced preparations for the potential U.S. commercial launch of the second-generation LungFit PH system, subject to FDA approval. If approved, the Company believes the addition of transport capability would enable Beyond Air to serve as a single-source nitric oxide provider for hospitals and health systems.
- Received FDA Breakthrough Device Designation for LungFit GO for the treatment of nontuberculous mycobacterial pulmonary disease (NTM-PD). The Company does not plan to allocate resources to further development of LungFit GO until the commercial launch of second-generation LungFit PH is well established, following FDA approval.
- Announced a definitive agreement under which UNIVO Pharmaceutical Industries Ltd. would acquire the Company’s controlling interest in NeuroNOS Israel Ltd. The transaction is intended to provide NeuroNOS with dedicated resources, funding and strategic focus to advance its development programs.
- Evaluating potential development partnerships and other strategic arrangements to support the continued advancement of Beyond Cancer’s pipeline, while maintaining Beyond Air’s focus and resource allocation on its commercialization of LungFit PH.
Pending Regulatory Milestones
- The PMA supplement for the second-generation LungFit PH system, submitted in June 2025, remains under FDA review.
Financial Results for the Quarter Ended September 30, 2026
Revenue for the quarter ended September 30, 2026 was
Research and development expenses for the three months ended September 30, 2026 were
Selling, general and administrative expenses for the three months ended September 30, 2026 were
Other expense for the three months ended September 30, 2026 was
Net loss attributed to common stockholders of Beyond Air, Inc. for the three months ended September 30, 2026 was
As of September 30, 2026, the Company reported cash, cash equivalents, restricted cash and marketable securities of
Financial Guidance
The Company reaffirms its previously issued revenue guidance of
Conference Call and Webcast
Wednesday, November 11, 2026 at 4:30 p.m. ET
Domestic: 1-877-407-0784
International: 1-201-689-8560
Conference ID: 13763626
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
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.
About Nitric Oxide
Nitric 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 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 revenue guidance for calendar year 2026 and 2027; demand for, and hospital adoption of, the Company's LungFit PH systems, including the Company's pipeline, new account wins and renewals; the FDA's review of the Company's PMA supplement for the second-generation LungFit PH system, including the expected timing of completion of the Company's audit-readiness process and FDA inspections, and the potential approval, intended use, transport capability, commercial launch and commercial benefits of that system; the proposed NeuroNOS transaction, its consideration, closing conditions and anticipated benefits; development plans and resource allocation for LungFit GO; potential partnerships or other strategic arrangements for Beyond Cancer; the Company's liquidity, financing needs and ability to continue as a going concern; the Company's ability to scale its infrastructure; and the Company’s fiscal year-end transition and expected filing of a transition report on Form 10-K/T. 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, the Company's ability to achieve its revenue guidance, which is based on assumptions regarding demand, hospital adoption, pricing, the timing of FDA approval of the second-generation LungFit PH system and other factors that may not be realized; whether the Company completes its audit-readiness process as anticipated; the timing and outcome of FDA inspections and whether the FDA approves the Company's PMA supplement for the second-generation LungFit PH system, including the requested transport labeling, which may not occur in a timely manner or at all; delays in the commercial launch of the second-generation LungFit PH system; the Company's reliance on third-party contract manufacturers; market acceptance of the Company's products and competition in the nitric oxide market; the possibility that the contemplated investment or other conditions to the NeuroNOS transaction are not satisfied, that the transaction does not close or its anticipated benefits are not realized, or that the value of the UNIVO securities is limited; the availability of resources for LungFit GO, the outcome of further clinical development and regulatory review; the Company's ability to secure and complete strategic arrangements for Beyond Cancer; the Company's history of losses and substantial doubt about its ability to continue as a going concern; the Company's ability to obtain the financing necessary to fund its operations and to satisfy its debt obligations as they come due, and the dilution that any equity financing may cause; the Company's ability to maintain the listing of its common stock on The Nasdaq Stock Market; and other risks described in the "Risk Factors" section of Beyond Air, Inc.'s most recent Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for the quarter ended September 30, 2026 and subsequent filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made and, except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contacts
Investor Relations contact
Corey Davis, Ph.D.
LifeSci Advisors, LLC
cdavis@lifesciadvisors.com
(212) 915-2577
| BEYOND AIR, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in thousands) | ||||||||
| September 30, 2026 | March 31, 2026 | |||||||
| (Unaudited) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 5,397 | $ | 6,740 | ||||
| Marketable securities | 5,652 | 4,901 | ||||||
| Restricted cash | 4,832 | 5,622 | ||||||
| Accounts receivable, net | 1,450 | 1,086 | ||||||
| Inventory, net | 1,190 | 1,406 | ||||||
| Other current assets and prepaid expenses | 5,083 | 5,012 | ||||||
| Current assets held for sale | 3,024 | - | ||||||
| Total current assets | 26,628 | 24,767 | ||||||
| Licensed right to use technology | 915 | 1,018 | ||||||
| Right-of-use lease assets | 1,003 | 1,193 | ||||||
| Property and equipment, net | 7,632 | 8,249 | ||||||
| Other assets | 77 | 158 | ||||||
| TOTAL ASSETS | $ | 36,255 | $ | 35,385 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 2,128 | $ | 2,417 | ||||
| Accrued expenses and other current liabilities | 4,094 | 3,372 | ||||||
| Operating lease liability, current portion | 211 | 321 | ||||||
| Loans payable, current portion | 58 | 401 | ||||||
| Current liabilities held for sale | 759 | - | ||||||
| Total current liabilities | 7,250 | 6,511 | ||||||
| Operating lease liability, net | 899 | 1,023 | ||||||
| Long-term debt, net | 21,982 | 21,639 | ||||||
| Warrant liability | - | 2 | ||||||
| Total liabilities | 30,131 | 29,175 | ||||||
| Stockholders’ equity | ||||||||
| Preferred Stock | - | - | ||||||
| Common Stock | - | - | ||||||
| Treasury stock | (25 | ) | (25 | ) | ||||
| Additional paid-in capital | 340,604 | 325,588 | ||||||
| Accumulated deficit | (335,324 | ) | (319,571 | ) | ||||
| Accumulated other comprehensive income | 72 | 134 | ||||||
| Total stockholders’ equity attributable to Beyond Air, Inc. | 5,327 | 6,126 | ||||||
| Non-controlling interest | 797 | 84 | ||||||
| Total stockholders’ equity | 6,124 | 6,210 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 36,255 | $ | 35,385 | ||||
| BEYOND AIR, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share data) (UNAUDITED) | ||||||||||||||||
| For the Three Months Ended | For the Six Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenues | $ | 2,324 | $ | 1,818 | $ | 4,092 | $ | 3,578 | ||||||||
| Cost of revenues | 2,127 | 2,116 | 3,670 | 3,720 | ||||||||||||
| Gross profit (loss) | 197 | (298 | ) | 422 | (142 | ) | ||||||||||
| Operating expenses: | ||||||||||||||||
| Research and development | 1,581 | 2,450 | 3,540 | 5,536 | ||||||||||||
| Selling, general, and administrative | 4,591 | 4,913 | 9,469 | 9,600 | ||||||||||||
| Total operating expenses | 6,172 | 7,363 | 13,009 | 15,136 | ||||||||||||
| Loss from operations | (5,975 | ) | (7,661 | ) | (12,587 | ) | (15,278 | ) | ||||||||
| Other income/(expense): | ||||||||||||||||
| Dividend/investment income | 93 | 59 | 196 | 87 | ||||||||||||
| Interest and finance expense | (1,504 | ) | (639 | ) | (2,996 | ) | (1,187 | ) | ||||||||
| Change in fair value of warrant liability | 1 | (1 | ) | 2 | 16 | |||||||||||
| Foreign exchange gain/(loss) | 29 | (18 | ) | 69 | (59 | ) | ||||||||||
| Loss on extinguishment of debt | (252 | ) | - | (405 | ) | - | ||||||||||
| Loss on disposal of fixed assets | - | (46 | ) | (52 | ) | (57 | ) | |||||||||
| Loss on contract manufacturer’s inventory obsolescence | (567 | ) | - | (567 | ) | - | ||||||||||
| Other income | - | 48 | 11 | 142 | ||||||||||||
| Total other expense | (2,200 | ) | (597 | ) | (3,742 | ) | (1,058 | ) | ||||||||
| Loss before income taxes | (8,175 | ) | (8,258 | ) | (16,329 | ) | (16,336 | ) | ||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net loss | $ | (8,175 | ) | $ | (8,258 | ) | $ | (16,329 | ) | $ | (16,336 | ) | ||||
| Less: net loss attributable to non-controlling interest | (357 | ) | (318 | ) | (576 | ) | (705 | ) | ||||||||
| Net loss attributable to Beyond Air, Inc. | $ | (7,818 | ) | $ | (7,940 | ) | $ | (15,753 | ) | $ | (15,631 | ) | ||||
| Other comprehensive income/(loss), net of tax | ||||||||||||||||
| Foreign currency translation adjustment | (41 | ) | 18 | (62 | ) | 145 | ||||||||||
| Comprehensive loss attributable to Beyond Air, Inc. | $ | (7,859 | ) | $ | (7,922 | ) | $ | (15,815 | ) | $ | (15,486 | ) | ||||
| Net basic and diluted loss per share attributable to Beyond Air, Inc. (1) | $ | (3.76 | ) | $ | (24.98 | ) | $ | (11.22 | ) | $ | (54.95 | ) | ||||
| Weighted average number of shares of common stock outstanding, basic and diluted (1) | 2,078,853 | 317,829 | 1,403,780 | 284,471 | ||||||||||||
| Prior period results have been adjusted to reflect the one-for-twenty reverse stock split in July 2026 |
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Beyond Air’s revenue and earnings for the quarter ended September 30, 2026?
Beyond Air reported $2.3 million in revenue and a net loss attributable to the company of $7.818 million, or $3.76 per share. Revenue increased approximately 28% year over year and 31% from the quarter ended June 30, 2026.
What is Beyond Air’s revenue guidance for 2026 and 2027?
Beyond Air reaffirmed calendar-year revenue guidance of $8 million for 2026 and $16 million to $18 million for 2027. The 2026 outlook excludes second-generation LungFit PH revenue; the 2027 outlook includes anticipated revenue from that system, pending FDA approval.
What expanded use is Beyond Air seeking for second-generation LungFit PH?
Beyond Air is seeking FDA labeling that would permit second-generation LungFit PH use during air and ground patient transport. The application supplement was submitted in June 2025. The company believes transport capability would allow it to serve as a single-source nitric oxide provider for hospitals and health systems.
When is Beyond Air changing its fiscal year-end?
Beyond Air is changing its fiscal year-end from March 31 to December 31, effective December 31, 2026. The board approved the change, and the company expects to report the nine-month transition period ending December 31, 2026 on Form 10-K/T.