On November 11, 2026 Beyond Air, Inc. (NASDAQ: XAIR) ("Beyond Air" or the "Company"), a commercial-stage medical device and biopharmaceutical company focused on harnessing the power of nitric oxide (NO) to improve patients’ lives, reported financial results for the quarter ended September 30, 2026, and provided a corporate update.

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"Building on the commercial momentum we are generating with our first-generation LungFit PH system, we believe our second-generation system has the potential to substantially expand our market opportunity and accelerate growth, pending FDA approval," said Robert Goodman, Chief Executive Officer of Beyond Air. "Our US pipeline is now experiencing unprecedented expansion with an acceleration in demand for our first-generation system and high receptivity to our technology and its operational efficiencies, creating a natural demand for our next generation product. We are especially pleased with the pace of new account wins and rate of renewals, which speak to the high level of customer satisfaction with our unique technology – all of which we believe we can leverage into the potential future launch of our second-generation LungFit PH system. 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."

Mr. Goodman continued, "We remain encouraged by our active and productive discussions with the FDA and the progress we are making toward completing the remaining steps in the review process for the second-generation LungFit PH system. We expect to complete our audit-readiness process in mid-December, and subject to FDA inspections and final approval thereafter."

Recent Financial and Operating Highlights

Reported revenue of $2.3 million for the quarter ended September 30, 2026, the highest quarterly revenue in the Company’s history, representing approximately 28% growth over the same period last year and 31% growth compared with the quarter ended June 30, 2026.
Executed the Company’s enhanced commercial strategy for first-generation LungFit PH, supporting increased adoption of its cylinder-free nitric oxide technology.
Advanced preparations for the potential U.S. commercial launch of the second-generation LungFit PH system, subject to FDA approval. If approved, the Company believes the addition of transport capability would enable Beyond Air to serve as a single-source nitric oxide provider for hospitals and health systems.
Received FDA Breakthrough Device Designation for LungFit GO for the treatment of nontuberculous mycobacterial pulmonary disease (NTM-PD). The Company does not plan to allocate resources to further development of LungFit GO until the commercial launch of second-generation LungFit PH is well established, following FDA approval.
Announced a definitive agreement under which UNIVO Pharmaceutical Industries Ltd. would acquire the Company’s controlling interest in NeuroNOS Israel Ltd. The transaction is intended to provide NeuroNOS with dedicated resources, funding and strategic focus to advance its development programs.
Evaluating potential development partnerships and other strategic arrangements to support the continued advancement of Beyond Cancer’s pipeline, while maintaining Beyond Air’s focus and resource allocation on its commercialization of LungFit PH.
Pending Regulatory Milestones

The PMA supplement for the second-generation LungFit PH system, submitted in June 2025, remains under FDA review.
Financial Results for the Quarter Ended September 30, 2026

Revenue for the quarter ended September 30, 2026 was $2.3 million, compared with $1.8 million for the same period last year.

Research and development expenses for the three months ended September 30, 2026 were $1.6 million as compared to $2.5 million for the three months ended September 30, 2025. The decrease was primarily attributed to lower costs related to the second-generation LungFit PH as the majority of development is complete.

Selling, general and administrative expenses for the three months ended September 30, 2026 were $4.6 million as compared to $4.9 million for the three months ended September 30, 2025. The decrease was attributed primarily to decreases in stock-based compensation costs, partially offset by increased salaries in our sales organization as we build out our commercial team.

Other expense for the three months ended September 30, 2026 was $2.2 million as compared to other expense of $0.6 million for the three months ended September 30, 2025. The increase in expense was attributed primarily to an increase in the Company’s outstanding debt and related interest expense, in addition to a charge for scrapped materials.

Net loss attributed to common stockholders of Beyond Air, Inc. for the three months ended September 30, 2026 was $7.8 million, or a loss of $3.76 per basic and diluted share, compared with a net loss of $7.9 million, or a loss of $24.98 per basic and diluted share, for the three months ended September 30, 2025.

As of September 30, 2026, the Company reported cash, cash equivalents, restricted cash and marketable securities of $18.5 million, including $2.7 million of cash held by NeuroNos which is included within current assets held for sale on the balance sheet and $0.7 million of cash held by Beyond Cancer. Restricted cash at September 30, 2026 was $4.8 million.

Financial Guidance

The Company reaffirms its previously issued revenue guidance of $8 million for calendar year 2026, which excludes revenue from the second-generation LungFit PH system. The Company also reaffirms its revenue guidance of $16 million to $18 million for calendar year 2027, which includes anticipated revenue from the second-generation system, pending FDA approval.

Conference Call and Webcast

Wednesday, November 11, 2026 at 4:30 p.m. ET

Domestic: 1-877-407-0784

International: 1-201-689-8560

Conference ID: 13763626

Webcast: A webcast of the live conference call can be accessed by visiting the Events section of the Company’s website (click here) or directly (click here). An online replay will be available on the Company’s website or via the direct link an hour after the call.

As previously announced, and formally approved by the Board of Directors, the Company is transitioning its fiscal year end from March 31 to December 31, effective December 31, 2026. As a result, the Company expects to report financial results for the nine-month transition period ending December 31, 2026 on a Form 10-K/T.

(Press release, Beyond Air, NOV 11, 2026, View Source;beyond-air-reports-financial-results-and-provides-corporate-update-for-the-quarter-ended-september-30-2026 [SID1234674613])