Beyond Air (XAIR) Q1 2027 earnings summary

Executive summary

• Reported $1.8 million in revenue for the quarter ended June 30, 2026, matching the same period last year.

• Strengthened balance sheet with up to $30.1 million in financing, regained NASDAQ compliance, and completed a 1-for-20 reverse stock split.

• Focused on commercial expansion for LungFit PH, preparing for Gen 2 system launch pending FDA approval, and expanded global reach through new GPO agreements and partnerships covering over 45 countries.

• Additional programs include ultra-high concentration NO for solid tumors and nNOS inhibitors for neurological conditions.

• Recent regulatory milestones include CE mark approval in Europe and expanded distribution agreements.

Financial highlights

• Revenue for the quarter ended June 30, 2026, was $1.8 million, flat compared to the previous quarter and same period last year.

• Gross margin improved to 13% from 9% year-over-year, marking the third consecutive quarter of positive gross profit.

• Research and development expenses decreased to $2.0 million from $3.1 million year-over-year.

• Selling, general, and administrative expenses were $4.9 million, up from $4.7 million year-over-year.

• Net loss attributable to common stockholders was $7.9 million, or $11.00 per share, compared to $7.7 million, or $30.67 per share, year-over-year.

• Cash, equivalents, and marketable securities totaled $15.2 million as of June 30, 2026, excluding recent financing.

Outlook and guidance

• Reaffirmed 2026 revenue guidance of $8 million, representing 15% growth over 2025, excluding Gen 2 LungFit PH revenue.

• Reaffirmed 2027 revenue guidance of $16–$18 million, including potential Gen 2 LungFit PH launch, over 110% growth at midpoint.

• Management expects continued net losses and significant cash outflows for at least the next year, with substantial doubt about the ability to meet obligations without additional funding.

• Confident in achieving H2 revenue targets due to a strengthened pipeline and international wins.