Beyond Air revenue up 66% in Q4 2026

Beyond Air, Inc announced its financial results for the fiscal fourth quarter and year ended March 31, 2026, and provided a corporate update.

“Fiscal 2026 was a year of meaningful transition for Beyond Air, marked by significant progress in strengthening the foundation of our LungFit PH commercial program,” said Robert Goodman, Chief Executive Officer of Beyond Air. “Since being appointed CEO, I have focused on sharpening our commercial execution while aligning our R&D efforts and operating resources with the opportunities we believe can create the greatest shareholder value. Our fiscal 2026 performance, including the 107% revenue growth, strong customer retention of over 90% and new hospital customer wins, reflect that focus and positions us for what we believe could be an important inflection point for the business.”

“We are encouraged by the market interest in the second-generation LungFit PH system, which is currently under FDA review,” continued Mr. Goodman. “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. If approved, we believe the addressable market opportunity for the LungFit platform could increase by 4X in the United States to approximately $400 million, and to more than $1 billion worldwide,” concluded Mr. Goodman.

Fiscal quarter ended March 31, 2026 financial results
Revenues for the fiscal quarter ended March 31, 2026 increased 66% to $1.9 million, compared with $1.2 million for the fiscal quarter ended March 31, 2025. Gross profit increased to $94,000 for the quarter ended March 31, 2026, compared with a gross loss of $32,000 for the quarter ended March 31, 2025. The increase in gross profit was primarily attributed to sales growth.

Research and development expenses for the fiscal quarter ended March 31, 2026 decreased 30% to $2.3 million, compared with $3.3 million for the fiscal quarter ended March 31, 2025.

Selling, general and administrative expenses for the fiscal quarter ended March 31, 2026 increased 28% to $5.0 million, compared with $3.9 million for the fiscal quarter ended March 31, 2025. The increase was primarily attributed to one-time severance and related charges.

Other expense for the quarter ended March 31, 2026 was $3.2 million compared with other expense of $0.9 million for the quarter ended March 31, 2025.

Net loss attributed to common stockholders of Beyond Air, Inc. for the quarter ended March 31, 2026 was ($10.3) million or a loss of ($0.77) per share, basic and diluted, compared with ($8.0) million or a loss of ($1.79) per share, basic and diluted, for the fiscal quarter ended March 31, 2025.

Net cash burn, excluding inflows from financing activities, was $5.4 million for the fiscal quarter ended March 31, 2026.

Fiscal year ended March 31, 2026 financial results
Revenues for the fiscal year ended March 31, 2026 increased 107% to $7.7 million, compared with $3.7 million for the fiscal year ended March 31, 2025. Gross profit increased to $0.3 million for the fiscal year ended March 31, 2026, compared with a gross loss of $1.7 million for the fiscal year ended March 31, 2025. The increase in gross profit was primarily attributed to sales growth.

Research and development expenses for the fiscal year ended March 31, 2026 decreased 39% to $10.2 million compared with $16.9 million for the fiscal year ended March 31, 2025. The reduction was primarily driven by decreased employee expenses as a result of prior restructuring activities and lower development costs associated with our Gen 2 device and PMA supplement, which was submitted to the FDA in June 2025.

Selling, general and administrative expenses for the fiscal years ended March 31, 2026 and 2025 were $19.1 million and $26.0 million, respectively. The decrease of 27% or approximately $6.9 million was primarily attributed to a reduction in employee-related costs.

Other expense for the fiscal year ended March 31, 2026 increased to $5.3 million, compared with $3.9 million for the fiscal year ended March 31, 2025. The increase in expense of approximately $1.4 million was primarily attributed to the change in fair value of derivative liability, partially offset by a reduction in the prior period loss associated with the extinguishment of debt.

Net loss attributed to common stockholders of Beyond Air, Inc. was ($33.2) million, or a loss of ($4.01) per basic and diluted share, for the fiscal year ended March 31, 2026, compared with ($46.6) million, or a loss of ($13.77) per basic and diluted share, for the fiscal year ended March 31, 2025.

Net cash burn, excluding inflows from financing activities, was $19.1 million for the fiscal year ended March 31, 2026.

As of March 31, 2026, the Company reported cash, cash equivalents, restricted cash and marketable securities of $17.3 million.

Total long-term debt outstanding was $21.6 million as of March 31, 2026. The Company has $18.2 million remaining available under its equity line of credit.

The Company is transitioning its fiscal year-end from March 31st to December 31st.

Financial guidance for full calendar years 2026 and 2027
The Company announced revenue guidance of $8 million for calendar year 2026, representing 15% growth compared with calendar year 2025. For calendar year 2027, the Company announced revenue guidance of $16-$18 million, representing more than 110% year-over-year growth at the midpoint compared with 2026 guidance and including the commercial launch of the second-generation LungFit PH system. With expanding market access, growing customer adoption, international expansion and a significantly larger addressable market pending the commercial launch of the second-generation LungFit PH, the Company believes it is entering an important new phase of commercial execution and a potential inflection point for revenue growth.