Beyond Air(XAIR) - 2025 Q4 - Annual Results

Fourth Quarter and Full Year 2025 Financial Results and Corporate Update Overview and Highlights Beyond Air reported significant revenue growth for fiscal year 2025, driven by commercial expansion of its LungFit® PH system and strategic regulatory advancements, with strong revenue guidance for fiscal year 2026 Fiscal Year 2025 and 2026 Revenue Highlights | Metric | Value | Period | | :--- | :--- | :--- | | Revenue | $3.7 million | Fiscal Year 2025 | | Revenue Growth (YoY) | 220% | FY2025 vs FY2024 | | Expected Revenue | At least $1.7 million | Quarter ending June 30, 2025 | | Revenue Guidance | $12 - $16 million | Fiscal Year 2026 | - Submitted a Premarket Approval (PMA) supplement to the FDA for the second-generation LungFit® PH system, which is considered potentially transformative for the business[1][3] - International distribution partnerships have expanded access to markets representing over 2 billion people, with active shipments to Europe, Australia, and the Middle East[1][3] - Appointed Robert Goodman, a seasoned healthcare executive with a strong commercial background, to the Company's Board of Directors[1][5] Commercial Execution, Recent Highlights and Upcoming Milestones The company is accelerating commercial adoption of LungFit® PH, expanding its market presence, and advancing key regulatory submissions and pipeline programs including Beyond Cancer and NeuroNOS - LungFit® PH is now installed and in regular use at more than 45 hospitals nationwide[3] - Established a partnership with Vanderbilt University Medical Center (VUMC) as the first luminary site for LungFit PH[7] - Secured new distribution partnerships covering over 25 countries, including India, Italy, and several in the Middle East and Eastern Europe[7] - The FDA review for the cardiac surgery PMA supplement is ongoing; currently, no nitric oxide delivery system is approved for this indication[8] Beyond Cancer - Solid Tumor Program The Beyond Cancer program is advancing clinical trials for its ultra-high concentration Nitric Oxide (UNO) therapy, with ongoing Phase 1a monotherapy and planned Phase 1b combination therapy trials - Phase 1a trial (monotherapy) for UNO therapy in solid tumors has completed the 25,000 ppm dose cohort and is now evaluating the 50,000 ppm dose[14] - Phase 1b trial (combination therapy) will assess UNO therapy in combination with an anti-PD-1 treatment for patients with disease progression[14] NeuroNOS – Autism Spectrum Disorder (ASD) Program The NeuroNOS program achieved significant milestones, including FDA Orphan Drug Designation for Phelan-McDermid Syndrome, preclinical data publication, and securing $2 million in equity financing for its autism drug - The U.S. FDA granted Orphan Drug Designation to BA-102 for the treatment of Phelan-McDermid Syndrome (PMS), a syndrome associated with ASD[14] - Completed a $2 million equity financing in NeuroNOS from private investors to accelerate preclinical development of its small-molecule drug for autism[14] - Appointed Nobel Prize laureate, Professor Dan Shechtman, to the NeuroNOS Scientific Advisory Board[14] Financial Results and Guidance Beyond Air reported significant revenue growth for fiscal year 2025, alongside a reduced net loss and operating expenses, ending the year with a solid cash position and providing strong fiscal year 2026 revenue guidance Fiscal Year 2025 Financial Performance (Year Ended March 31, 2025) | Metric | FY 2025 (in millions) | FY 2024 (in millions) | YoY Change | | :--- | :--- | :--- | :--- | | Revenues | $3.7 | $1.2 | +220% | | Research and development | $16.9 | $24.4 | -30.7% | | Selling, general and administrative | $26.0 | $37.3 | -30.3% | | Net loss attributable to common stockholders | ($46.6) | ($60.2) | Improvement | | Net loss per share (basic and diluted) | ($0.69) | ($1.82) | Improvement | - As of March 31, 2025, the company had $6.9 million in cash, cash equivalents, and marketable securities, with $12.2 million in total long-term debt[17] - Cash burn for fiscal year 2025 was $44.1 million, excluding financing impacts[16] Fiscal Year 2026 Financial Guidance | Metric | Guidance | Period | | :--- | :--- | :--- | | Revenue | At least $1.7 million | Quarter ending June 30, 2025 | | Revenue | $12 - $16 million | Fiscal Year ending March 31, 2026 | Financial Statements The consolidated balance sheet as of March 31, 2025, presents the company's financial position, while the statement of operations details the financial performance for the fiscal year 2025 Consolidated Balance Sheet Highlights (as of March 31, 2025) | Account (in thousands) | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Assets | | | | Cash and cash equivalents | $4,665 | $11,378 | | Total current assets | $16,018 | $43,936 | | Total Assets | $30,062 | $56,961 | | Liabilities & Equity | | | | Total current liabilities | $5,000 | $11,567 | | Long-term debt, net | $9,197 | $14,721 | | Total Liabilities | $15,721 | $29,775 | | Total Equity | $14,341 | $27,186 | Consolidated Statement of Operations Highlights (For the Year Ended March 31) | Account (in thousands) | 2025 | 2024 | | :--- | :--- | :--- | | Revenues | $3,705 | $1,159 | | Gross loss | ($1,663) | ($1,307) | | Loss from Operations | ($44,537) | ($63,006) | | Net loss | ($48,479) | ($64,295) | | Net loss attributable to Beyond Air, Inc. | ($46,625) | ($60,242) |