Beyond Air (XAIR) Q3 2026 earnings summary

Executive summary

• Revenue grew 105% year-over-year to $2.2 million in fiscal Q3, with 21% sequential growth, driven by increased demand for LungFit PH in the U.S. and internationally, and over 45 hospitals adopting the system.

• Net loss attributable to common stockholders was $7.3 million ($0.85 per share) for the quarter, a significant improvement from $13.0 million ($2.96 per share) in the prior year.

• Expanded commercial footprint with CE mark approval in Europe, distribution agreements in 40 countries, and first sale to a VA Medical Center.

• Completed $5M financing in January 2026, secured an equity line of credit up to $32M, and pro forma cash and equivalents of $22.3M expected to fund operations into 2027.

• Signed a binding letter of intent for XTL Biopharmaceuticals to acquire 85% of NeuroNOS, with up to $32.5M in potential consideration and 19.99% equity in XTL.

Financial highlights

• Gross profit reached $0.3 million in Q3, reversing a gross loss of $0.2 million a year ago, with gross margin improving to 13.7%.

• Operating expenses dropped 36% year-over-year to $6.9 million, with SG&A down 42% and R&D down 19-20%.

• Net loss for the nine months was $23.0 million ($3.44 per share), improved from $38.6 million ($12.77 per share) in the prior year.

• Net cash burn for the quarter was $4.3 million, down over 40% from the prior year.

• Cash, cash equivalents, and marketable securities totaled $17.8 million at December 31, 2025, plus $4.5 million from a January 2026 private placement.

Outlook and guidance

• Fiscal year 2026 revenue guidance remains at $8-10 million.

• Anticipates FDA clearance for Gen 2 LungFit PH by end of calendar 2026, pending contract manufacturer inspection.

• Cash runway expected into 2027 and potentially to profitability if revenue targets and cost controls are met.