Beyond Air(XAIR) - 2026 Q1 - Quarterly Results

Beyond Air Fiscal First Quarter 2026 Financial Results and Corporate Update Financial & Operational Highlights The company reported strong Q1 FY2026 revenue growth, secured a key purchasing agreement, and reaffirmed full-year guidance Q1 FY2026 Key Financial Metrics | Metric | Q1 FY2026 (ended June 30, 2025) | Q1 FY2025 (ended June 30, 2024) | Year-over-Year Change | | :--- | :--- | :--- | :--- | | Revenue | $1.8 million | $0.7 million | +157% | - Awarded a national group purchasing agreement for therapeutic gases by Premier, Inc, providing access to a network of over 4,350 member hospitals and health systems[1][9] - The company reaffirmed its revenue guidance of $12 to $16 million for the full fiscal year 2026[1][17] - Achieved strong sequential revenue growth of approximately 50%, from $1.2 million in the prior quarter to $1.8 million[4] Business Update The company is driving market adoption for LungFit PH while advancing its clinical pipeline for cancer and neurological disorders LungFit® PH Commercial Execution Commercial activities for LungFit PH drove significant revenue growth through domestic and international expansion - U.S. commercial activities for LungFit PH were the primary driver of the 157% revenue growth to $1.8 million for the quarter[9] - International revenue is accelerating through distribution agreements that enable access to over 30 countries[9] - A new agreement with Premier, Inc, effective July 15, allows members to access special pre-negotiated pricing for the LungFit PH system[9] Clinical Development and Regulatory Pipeline The company advanced its pipeline with an FDA submission for LungFit PH and progress in its cancer and NeuroNOS programs - A PMA supplement for the second-generation LungFit PH was submitted to the U.S. FDA in June 2025[9] - The Beyond Cancer program completed Part A of its Phase 1a trial and will proceed to a Phase 1b combination therapy trial[6][9] - The NeuroNOS program's therapy, BA-102, was granted Orphan Drug Designation by the U.S. FDA for treating Phelan-McDermid Syndrome[8] - The NeuroNOS program is expected to progress to a phase 1 first-in-human clinical trial by the end of 2026[10] Fiscal Q1 2026 Financial Results The company reported increased revenue, positive gross profit, reduced operating expenses, and a narrowed net loss for the quarter Q1 FY2026 Financial Summary | Metric | Q1 FY2026 (ended June 30, 2025) | Q1 FY2025 (ended June 30, 2024) | | :--- | :--- | :--- | | Revenues | $1.8 million | $0.7 million | | Gross Profit/(Loss) | $0.2 million | ($0.3) million | | R&D Expenses | $3.1 million | $6.0 million | | SG&A Expenses | $4.7 million | $7.2 million | | Net Loss Attributable to Common Stockholders | ($7.7) million | ($12.2) million | | Loss Per Share (Basic & Diluted) | ($1.53) | ($5.32) | - The decrease in R&D expenses by $2.9 million was primarily due to lower costs for salaries, clinical studies, and device development[12] - SG&A expenses decreased by $2.5 million, mainly attributed to reductions in salaries, marketing, and legal fees[13] Key Balance Sheet and Cash Flow Metrics (as of June 30, 2025) | Balance Sheet Item | As of June 30, 2025 | | :--- | :--- | | Cash, cash equivalents, and marketable securities | $6.5 million | | Total long-term debt outstanding | $11.6 million | | Net cash burn in fiscal Q1 2026 | $4.7 million | Fiscal Year 2026 Guidance The company reaffirmed its full-year revenue guidance for the fiscal year ending March 31, 2026 - The company reaffirmed its revenue guidance of $12 to $16 million for the fiscal year ending March 31, 2026[17] Company and Program Overview The company focuses on nitric oxide therapies, with an approved product for neonates and a pipeline for other indications About Beyond Air and LungFit® LungFit® is a cylinder-free nitric oxide system approved for treating PPHN with potential for broader applications - LungFit® PH is FDA approved and CE Marked for treating term and near-term neonates with hypoxic respiratory failure[19] - The LungFit system generates NO from ambient air on demand, potentially replacing high-pressure NO cylinders and improving safety[21] About Development Programs (Beyond Cancer, NeuroNOS) The company is developing novel nitric oxide-based therapies for solid tumors and neurodevelopmental disorders - Beyond Cancer, Ltd is investigating ultra-high concentrations of NO (UNO) to treat primary tumors and prevent metastatic disease[25] - NeuroNOS is developing therapies based on small molecules to regulate NO levels in the brain, targeting conditions like Autism Spectrum Disorder (ASD)[26] Appendix: Financial Statements This section presents the unaudited consolidated balance sheets and statements of operations for the period Consolidated Balance Sheets The company's balance sheet shows total assets of $28.1 million and total stockholders' equity of $10.4 million Balance Sheet Summary | (in thousands) | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | Total Current Assets | $14,989 | $16,018 | | TOTAL ASSETS | $28,114 | $30,062 | | Total Current Liabilities | $4,626 | $5,000 | | Total Liabilities | $17,706 | $15,721 | | Total Stockholders' Equity | $10,408 | $14,341 | Condensed Consolidated Statements of Operations The company reported a net loss of $7.7 million on $1.8 million in revenue for the three months ended June 30, 2025 Statement of Operations Summary | (in thousands, except per share data) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Revenues | $1,760 | $683 | | Gross profit/(loss) | $156 | $(332) | | Loss from operations | $(7,617) | $(13,580) | | Net loss attributable to Beyond Air, Inc | $(7,691) | $(12,201) | | Net basic and diluted loss per share | $(1.53) | $(5.32) |