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Beyond Air
(NASDAQ:XAIR)
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Rating:45Neutral
Price Target:
$2.50
▼(-49.70% Downside)
Action:Reiterated
Date:10/08/26
The score is held down primarily by very weak financial performance (low gross margin, large losses, and significant cash burn) and bearish technicals (price below key moving averages with negative MACD). Partially offsetting this are constructive earnings-call signals—reaffirmed guidance, improving gross margin, and commercial progress—plus recent preliminary revenue momentum, though regulatory timing and dilution/listing-risk considerations remain key constraints.
Positive Factors
LungFit PH adoption
The record preliminary quarter indicates that hospital adoption of LungFit PH is translating into measurable commercial growth. Continued use of the installed platform can establish a stronger revenue base, improve operating leverage, and support broader adoption over the next several quarters.
Negative Factors
Severe ongoing losses
Extremely negative net margins show that the current revenue base remains far below the cost structure needed for a sustainable business. Unless revenue scales substantially or expenses decline further, ongoing losses will continue consuming capital and delay any credible path to profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
LungFit PH adoption
The record preliminary quarter indicates that hospital adoption of LungFit PH is translating into measurable commercial growth. Continued use of the installed platform can establish a stronger revenue base, improve operating leverage, and support broader adoption over the next several quarters.
Read all positive factors
Beyond Air (XAIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.85M
Dividend YieldN/A
Average Volume (3M)65.48K
Price to Earnings (P/E)―
Beta (1Y)-0.14
Revenue Growth60.75%
EPS Growth71.34%
CountryUS
Employees54
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-53.60
Shares Outstanding1,665,482
10 Day Avg. Volume17,910
30 Day Avg. Volume65,476
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)18.70
Price to Sales (P/S)14.92
P/FCF Ratio-5.98
Enterprise Value/Market Cap4.07
Enterprise Value/Revenue2.04
Enterprise Value/Gross Profit48.77
Enterprise Value/Ebitda-0.53
Forecast
1Y Price Target
$10.00Price Target Upside101.21% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-1.78
Revenue Forecast (FY)$12.70M
Beyond Air Business Overview & Revenue Model
Company Description
Beyond Air, Inc. functions as a specialized entity involved in both the development of medical devices and biopharmaceutical solutions. A central part of its operations is the LungFit platform, an innovative system that generates and delivers nitr...
How the Company Makes Money
Beyond Air’s business model is centered on commercializing its LungFit nitric oxide delivery platform and any related consumables or service components tied to clinical use. Revenue is expected to be generated primarily through sales (or potential...
Beyond Air Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Positive
The call conveyed a constructive, growth-oriented outlook: management strengthened the balance sheet via a financing, secured important commercial partnerships (including a third national GPO), expanded international distribution, and showed improving unit economics (gross margin up to 13%) while reducing R&D spend. The company reaffirmed 2026 guidance and provided an ambitious multi‑year revenue target for 2027 tied to the potential Gen II LungFit PH launch. Key risks highlighted include flat current revenue, ongoing net losses and cash burn, increased other expense, and regulatory timing uncertainty for Gen II approval. On balance, the positives around financing, commercial traction, margin improvement, and a doubled pipeline outweigh the near-term operational and regulatory risks.Positive Updates
Revenue and Quarterly Stability
Revenue for the quarter ended June 30, 2026 was $1.8M, effectively flat sequentially and year-over-year (0% change vs. prior quarter and prior year), showing stability as commercial initiatives progress.
Negative Updates
Flat Near-Term Revenue Growth
Current quarter revenue was flat at $1.8M (0% growth YoY and sequentially), indicating limited near-term top-line momentum until broader adoption or Gen II launch occurs.
Read all updates
Q1-2027 Updates
Positive
Negative
Revenue and Quarterly Stability
Revenue for the quarter ended June 30, 2026 was $1.8M, effectively flat sequentially and year-over-year (0% change vs. prior quarter and prior year), showing stability as commercial initiatives progress.
Read all positive updates
Company Guidance
Beyond Air reaffirmed calendar 2026 revenue guidance of $8.0 million (about 15% growth over 2025) — expressly excluding any Gen II LungFit PH revenue — and reiterated 2027 guidance of $16–18 million (which includes potential Gen II revenue and implies >110% growth at the midpoint versus 2026); management said Gen II remains under FDA review with a potential H2 2026 approval (likely Q4, timing subject to the FDA) and that pilots and commercial preparations are underway. For context, Q2 revenue was $1.8M (H1 roughly $3.7M, implying about $4.3M in H2 to hit the $8M target), gross margin improved to 13% (vs. 9% year‑ago) marking a third consecutive quarter of positive gross profit, net loss was $7.9M (−$11.00 per share), cash and equivalents were $15.2M as of June 30 (pre‑financing), and the company has up to $30M of financing available ($10M upfront, $20M contingent via warrants) while expanding its commercial footprint (pipeline doubled in 5–6 months, distribution in >40 countries, and a third national GPO added alongside Premier and Vizient).Beyond Air Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
34
Negative
Cash Flow
22
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.69M | 7.68M | 3.71M | 1.16M | 0.00 | 0.00 |
| Gross Profit | 321.00K | 252.00K | -1.66M | -1.31M | -555.00K | 0.00 |
| EBITDA | -29.62M | -30.68M | -41.89M | -59.03M | -58.20M | -42.70M |
| Net Income | -33.49M | -33.25M | -46.63M | -60.24M | -55.82M | -43.18M |
Balance Sheet | ||||||
| Total Assets | 32.89M | 35.38M | 30.06M | 56.96M | 68.75M | 99.20M |
| Cash, Cash Equivalents and Short-Term Investments | 15.22M | 11.64M | 6.92M | 34.47M | 45.88M | 80.24M |
| Total Debt | 23.60M | 23.38M | 11.69M | 17.84M | 3.59M | 3.49M |
| Total Liabilities | 30.05M | 29.18M | 15.72M | 29.77M | 26.72M | 20.99M |
| Stockholders Equity | 2.00M | 6.13M | 13.58M | 25.05M | 37.91M | 72.70M |
Cash Flow | ||||||
| Free Cash Flow | -19.60M | -19.17M | -44.10M | -61.76M | -36.89M | -24.51M |
| Operating Cash Flow | -18.56M | -18.14M | -38.22M | -56.02M | -33.01M | -23.13M |
| Investing Cash Flow | -3.79M | -3.67M | 14.90M | -12.23M | -20.59M | -1.45M |
| Financing Cash Flow | 28.08M | 29.09M | 16.65M | 43.17M | 2.70M | 79.45M |
Beyond Air Technical Analysis
Neutral
4.97
Price Trends
3.10
Negative
5.02
Negative
10.65
Negative
Market Momentum
-0.26
Negative
41.53
Neutral
74.53
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XAIR, the sentiment is Neutral. The current price of 4.97 is above the 20-day moving average (MA) of 2.32, above the 50-day MA of 3.10, and below the 200-day MA of 10.65, indicating a bearish trend. The MACD of -0.26 indicates Negative momentum. The RSI at 41.53 is Neutral, neither overbought nor oversold. The STOCH value of 74.53 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for XAIR.
Beyond Air Risk Analysis
Beyond Air disclosed 74 risk factors in its most recent earnings report. Beyond Air reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beyond Air Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $78.86M | -1.94 | -100.30% | ― | 53.16% | 27.17% | |
53 Neutral | $135.93M | -3.17 | -98.23% | ― | -3.15% | 28.45% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $237.68M | -2.97 | 273.71% | ― | 25.25% | -9.85% | |
45 Neutral | $3.85M | -0.04 | -462.50% | ― | 60.75% | 71.34% | |
44 Neutral | $50.31M | -0.97 | 1719.71% | ― | -6.76% | 42.70% |
* Healthcare Sector Average
XAIR
Beyond Air
2.31
-38.89
-94.39%
LUNG
Pulmonx
3.17
1.17
58.25%
HYPR
Hyperfine
0.74
-0.38
-33.66%
TLSI
TriSalus Life Sciences
3.86
-0.88
-18.57%
COCH
Envoy Medical
6.50
-1.55
-19.25%
Beyond Air Corporate Events
Business Operations and StrategyFinancial Disclosures
Beyond Air Reports Record Preliminary Quarterly Revenue Growth
Positive
Oct 8, 2026
Beyond Air reported preliminary, unaudited revenue of approximately $2.3 million for the quarter ended September 30, 2026, marking its highest quarterly revenue to date and representing 30% sequential growth and 27% year-on-year growth. The gains ...
Executive/Board Changes
Beyond Air Formalizes CEO Agreement, Boosts CFO Compensation
Positive
Sep 24, 2026
On September 23, 2026, Beyond Air, Inc. entered into an employment agreement with Chief Executive Officer Robert Goodman, formalizing his role after his appointment on March 27, 2026. The agreement, which has no fixed term, sets a minimum annual b...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and FinancingRegulatory Filings and Compliance
Beyond Air secures financing and expands LungFit PH access
Positive
Aug 18, 2026
Beyond Air reported financial results for the quarter ended June 30, 2026, posting $1.8 million in revenue and a net loss of $7.9 million, while gross margin improved to 13% and research and development spending declined year on year. The company ...
Delistings and Listing ChangesRegulatory Filings and ComplianceStock Split
Beyond Air Regains Nasdaq Compliance After Reverse Stock Split
Positive
Aug 6, 2026
On April 7, 2026, Beyond Air, Inc. received notice from Nasdaq that it was not in compliance with the exchange’s minimum bid price rule, triggering a review of its listing status. On May 28, 2026, a Nasdaq Hearings Panel allowed the company ...
Business Operations and StrategyPrivate Placements and Financing
Beyond Air Announces At-the-Market Private Placement Financing
Positive
Jul 31, 2026
On July 29, 2026, Beyond Air entered into a securities purchase agreement with institutional healthcare investors and certain directors and executives for a private placement of common stock, pre-funded warrants and Series A and Series B warrants,...
Delistings and Listing ChangesRegulatory Filings and ComplianceShareholder MeetingsStock Split
Beyond Air Implements Reverse Stock Split to Maintain Listing
Negative
Jul 9, 2026
Beyond Air, Inc. held a special meeting of stockholders on June 18, 2026, where investors approved a 1-for-20 reverse stock split of the company’s outstanding common shares. The reverse split was implemented through a certificate of amendmen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.