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XAIR

Beyond Air, Inc.

XAIR

Beyond Air, Inc. • NASDAQ
$1.35 ▲ 1.50% (+0.02)
Market Cap $6.84 M
52w High $11.20
52w Low $1.19
Dividend Yield 0%
P/E -0.24
Volume 74.65K
Outstanding Shares 5.07M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $1.818M ▲ $7.363M ▼ $-7.94M ▼ -436.744% ▲ $-1.25 ▲ $-6.799M ▼
Q1-2026 $1.76M ▲ $7.773M ▲ $-7.691M ▲ -436.989% ▲ $-1.53 ▲ $-6.604M ▼
Q4-2025 $1.152M ▲ $7.142M ▼ $-8.034M ▲ -697.396% ▲ $-1.79 ▲ $-6.544M ▲
Q3-2025 $1.072M ▲ $10.737M ▼ $-13.032M ▲ -1.216K% ▲ $-2.96 ▲ $-11.928M ▲
Q2-2025 $798K $11.749M $-13.358M -1.674K% $-5.67 $-12.156M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $10.695M ▲ $30.965M ▲ $17.87M ▲ $12.733M ▲
Q1-2026 $6.463M ▼ $28.114M ▼ $17.706M ▲ $9.927M ▼
Q4-2025 $6.917M ▼ $30.062M ▼ $15.721M ▼ $13.583M ▼
Q3-2025 $10.95M ▼ $34.144M ▼ $15.763M ▼ $17.643M ▼
Q2-2025 $28.447M $53.01M $23.716M $28.127M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-7.94M ▲ $-4.453M ▲ $240K ▼ $8.918M ▲ $4.723M ▲ $-4.699M ▲
Q1-2026 $-8.078M ▼ $-4.526M ▲ $576K ▼ $4.066M ▼ $243K ▲ $-4.724M ▲
Q4-2025 $-8.063M ▲ $-6.957M ▲ $2.581M ▲ $4.5M ▲ $63K ▲ $-8.455M ▼
Q3-2025 $-13.033M ▲ $-7.733M ▲ $-6.937M ▼ $-9.214M ▼ $-23.844M ▼ $-8.27M ▲
Q2-2025 $-14.028M $-13.348M $16.147M $21.624M $24.287M $-14.523M

Revenue by Products

Product Q3-2025Q4-2025Q1-2026Q2-2026
Business Segment
Business Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Beyond Air looks like a classic early‑stage, R&D‑heavy med‑tech company. Over the past several years it has essentially no recorded product revenue in these figures and runs steady operating and net losses. The loss level appears relatively stable rather than exploding, which suggests some cost discipline, but the business is still firmly in “spend now, hope for future commercialization” mode. Profitability is not in sight based on this data alone, and the company’s story is currently about building a platform, not generating earnings.

Balance Sheet

Balance Sheet The balance sheet is very light, with a small asset base and a modest equity cushion. Cash has trended down from earlier years, and while debt remains limited, the company does not have a lot of financial slack. This thin capital structure means Beyond Air is sensitive to funding conditions and will likely remain dependent on external capital until its products can support the business. In short, resources are constrained, and the margin for error appears narrow.

Cash Flow

Cash Flow Cash flow is consistently negative, driven by operating losses, with only modest spending on equipment and facilities. Free cash flow is solidly in the red, meaning the business consumes cash rather than generating it. This is typical for a company developing and launching new medical technology, but it underscores ongoing reliance on financings or partnerships to keep advancing the pipeline and commercial efforts.

Competitive Edge

Competitive Edge On the competitive side, Beyond Air has an unusually clear point of differentiation: its LungFit platform generates nitric oxide directly from room air, avoiding heavy gas cylinders. In a market long dominated by large incumbents using cylinder‑based systems, that is a meaningful practical and economic advantage for hospitals. The moat rests on patents, first‑mover status in generator technology, and potential cost savings. The offsetting risk is scale: big, entrenched competitors already control the market, and Beyond Air still has to prove it can win significant adoption with limited resources.

Innovation and R&D

Innovation and R&D Innovation is the company’s core strength. The LungFit platform opens multiple possible uses, from neonatal care in hospitals to high‑dose treatments for lung infections and even potential home‑care applications. Beyond Air is also exploring ultra‑high nitric oxide for cancer and a separate neurological program, showing broad scientific ambition. However, several clinical programs have been paused to conserve cash, so the pace of R&D and the timing of future data are tightly linked to funding. The pipeline is rich but early and carries substantial technical, regulatory, and execution risk.

Summary

Beyond Air today is a high‑innovation, high‑uncertainty story. Financially, it has no meaningful revenue, ongoing losses, negative cash flow, and a thin balance sheet, all of which point to continued dependence on outside capital. Strategically, it holds a potentially disruptive technology with a clear practical edge over legacy nitric oxide systems and a diversified pipeline of future applications. The company’s future will hinge on two things: turning its first approved product into meaningful commercial traction and successfully restarting and advancing its clinical programs. Outcomes could vary widely, and any assessment needs to weigh the strength of the technology and intellectual property against funding constraints and intense competition from much larger players. This is an interpretation of the provided data, not a recommendation or prediction.

NEWS

November 26, 2025 · 4:30 PM UTC

Beyond Air® Announces Transition of Chief Financial Officer

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November 10, 2025 · 4:05 PM UTC

Beyond Air® Reports Fiscal Second Quarter 2026 Financial Results and Provides Corporate Update

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September 22, 2025 · 8:00 AM UTC

Beyond Air to Participate in the ROTH 4th Annual Healthcare Opportunities Conference

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September 8, 2025 · 3:55 PM UTC

Beyond Air Announces Exercise of Warrants for $3.25 Million of Gross Proceeds

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September 3, 2025 · 8:00 AM UTC

Beyond Air to Participate in the H.C. Wainwright 27th Annual Global Investment Conference

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