Beyond Air (XAIR) Q4 2026 earnings summary

Executive summary

• Revenue grew 107% year-over-year to $7.7 million for fiscal year 2026, driven by strong customer retention over 90% and new hospital adoption.

• Expanded market access through new and existing GPO agreements, now covering a substantial portion of the U.S. hospital market and nearly 2,000 hospitals.

• Regulatory clearance achieved in over 45 countries, with early-stage international commercialization underway.

• Leadership changes included a new CFO and Chairman of the Board.

Financial highlights

• Revenue for fiscal year 2026 increased to $7.7 million, up from $3.7 million in fiscal 2025.

• Gross profit improved by $2 million, shifting from a $1.7 million loss to a $300,000 profit year-over-year.

• R&D expenses decreased 39% to $10.2 million; SG&A expenses fell 27% to $19.1 million, both due to prior restructuring.

• Net loss attributable to common stockholders was $33.2 million ($4.01 per share), down from $46.6 million ($13.77 per share) in fiscal 2025.

• Net cash burn (excluding financing inflows) was $19.1 million, with $17.3 million in cash and equivalents and $21.6 million in long-term debt at year-end.

Outlook and guidance

• Revenue guidance for calendar year 2026 is $8 million, representing 15% growth over 2025.

• Calendar year 2027 revenue guidance is $16–18 million, assuming FDA approval and Gen 2 commercial launch, with Gen 2 expected to contribute about half of U.S. revenue.

• No Gen 2 revenue is included in 2026 guidance; majority of Gen 2 revenue expected from 2027 onward.

• Anticipates significant market expansion pending FDA approval of the second-generation LungFit PH.