Beyond Air Inc (XAIR)
NASDAQ:XAIR
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Beyond Air
(NASDAQ:XAIR)
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Rating:45Neutral
Price Target:
$0.77
▼(-5.19% Downside)
Action:ReiteratedDate:02/15/26
The score is held down primarily by weak financial performance (heavy cash burn, ongoing losses, and a pressured balance sheet with higher debt and lower equity). Technicals also reflect a sustained downtrend with negative momentum. Offsetting these, the earnings call highlighted meaningful operational improvement (rapid revenue growth, gross profit turning positive, reduced cash burn, and funding actions extending runway), but execution and regulatory timing risks remain material.
Positive Factors
Strong revenue acceleration
Sustained double‑digit growth indicates initial product–market fit for LungFit PH and expanding commercial traction. Continued revenue scaling over multiple quarters supports operating leverage, improves unit economics, and increases the probability of reaching durable profitability if growth and cost controls persist.
Negative Factors
Persistent heavy cash burn
Negative operating and free cash flows at this scale relative to revenue create a structural funding need. Persistent burn elevates dilution and refinancing risk, constrains strategic investments, and makes execution dependent on recurring financings or non‑organic capital events over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue acceleration
Sustained double‑digit growth indicates initial product–market fit for LungFit PH and expanding commercial traction. Continued revenue scaling over multiple quarters supports operating leverage, improves unit economics, and increases the probability of reaching durable profitability if growth and cost controls persist.
Read all positive factors
Beyond Air (XAIR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.51M
Dividend YieldN/A
Average Volume (3M)243.71K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth147.74%
EPS Growth73.23%
CountryUS
Employees107
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.85
Shares Outstanding10,529,344
10 Day Avg. Volume233,332
30 Day Avg. Volume243,710
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.36
Price to Sales (P/S)4.98
P/FCF Ratio-0.42
Enterprise Value/Market Cap1.89
Enterprise Value/Revenue2.32
Enterprise Value/Gross Profit127.66
Enterprise Value/Ebitda-0.63
Forecast
1Y Price Target
$3.50Price Target Upside332.10% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-3.88
Revenue Forecast (FY)$8.06M
Beyond Air Business Overview & Revenue Model
Company Description
Beyond Air, Inc. operates as a commercial medical device and biopharmaceutical company. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent ...
How the Company Makes Money
Beyond Air primarily makes money through commercialization of its nitric oxide delivery system platform (including LungFit) by selling or contracting for the use of its NO delivery devices and associated consumables/services used with those device...
Beyond Air Earnings Call Summary
Earnings Call Date:Feb 13, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jun 29, 2026
Earnings Call Sentiment Positive
The call communicated strong operational momentum: double‑digit sequential growth, a 105% year‑over‑year revenue increase, a gross profit turnaround, significant cuts to operating costs (36% YoY) and extended commercial reach (45+ hospitals, VA sale, GPO coverage and 40-country distribution). Management secured additional capital and a pending NeuroNOS transaction that could de‑risk noncore R&D and create upside. Primary risks discussed were continued unprofitability and cash burn despite improvement, low absolute revenue and current gross margins, dependence on a contract manufacturer inspection and FDA timing for Gen II, lengthy sales cycles, and pending/contingent aspects of financing and the NeuroNOS sale. On balance the positive operational and financial momentum and progress toward Gen II and commercialization outweighed the remaining challenges.Positive Updates
Strong Revenue Growth
Revenue increased 105% year-over-year to $2.2 million for the quarter ended December 31, 2025 (from $1.1 million), representing a 21% sequential increase versus the prior quarter.
Negative Updates
Absolute Revenue and Profitability Still Modest
Despite strong growth rates, quarterly revenue remains small at $2.2 million and the company remains unprofitable: net loss of $7.3 million for the quarter and ongoing negative free cash flow (net cash burn $4.3 million this quarter).
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Revenue Growth
Revenue increased 105% year-over-year to $2.2 million for the quarter ended December 31, 2025 (from $1.1 million), representing a 21% sequential increase versus the prior quarter.
Read all positive updates
Company Guidance
The company guided that it expects FDA clearance for the Gen II LungFit PH system by the end of calendar 2026 and is preparing for a post‑clearance launch while continuing to expand Gen I utilization through calendar 2026; current commercial traction includes support of >45 hospitals, >90% customer retention, >50% of customers on multiyear agreements, international coverage in 40 countries and GPO access to nearly 3,000 U.S. hospitals, including an initial VA sale. Financially, management said revenue trends should continue (Q3 revenue was $2.2M, up 105% YoY and 21% sequentially), gross profit improved to $300K (from a prior gross loss), net loss narrowed to $7.3M ($0.85/share) from $13M ($2.96/share), quarterly cash burn fell to $4.3M (>40% reduction YoY), and cash and marketable securities were $17.8M as of 12/31/25 (with a subsequent $4.5M equity raise plus a $5M January financing and an equity line/promissory note facility of up to $32M). Operational and margin targets include extending service intervals from ~1,000 hours (Gen I) to ≥3,000 hours (Gen II) and long‑term gross margin goals moving Gen I toward the 50–60% range and Gen II toward ~70%, and management believes current resources provide a cash runway into calendar 2027 and potentially to profitability if revenue and cost controls track to plan.Beyond Air Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
34
Negative
Cash Flow
16
Very Negative
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.92M | 3.71M | 1.16M | 0.00 | 0.00 | 873.00K |
| Gross Profit | 126.00K | -1.66M | -1.31M | -555.00K | 0.00 | 873.00K |
| EBITDA | -25.65M | -41.89M | -59.03M | -58.20M | -42.70M | -22.02M |
| Net Income | -31.00M | -46.63M | -60.24M | -55.82M | -43.18M | -22.88M |
Balance Sheet | ||||||
| Total Assets | 36.77M | 30.06M | 56.96M | 68.75M | 99.20M | 40.52M |
| Cash, Cash Equivalents and Short-Term Investments | 17.85M | 6.92M | 34.47M | 45.88M | 80.24M | 34.63M |
| Total Debt | 24.82M | 11.69M | 17.84M | 3.59M | 3.49M | 6.93M |
| Total Liabilities | 28.49M | 15.72M | 29.77M | 26.72M | 20.99M | 10.06M |
| Stockholders Equity | 8.11M | 13.58M | 25.05M | 37.91M | 72.70M | 30.46M |
Cash Flow | ||||||
| Free Cash Flow | -22.13M | -44.10M | -61.76M | -36.89M | -24.51M | -20.53M |
| Operating Cash Flow | -20.16M | -38.22M | -56.02M | -33.01M | -23.13M | -19.64M |
| Investing Cash Flow | -646.00K | 14.90M | -12.23M | -20.59M | -1.45M | -890.00K |
| Financing Cash Flow | 28.69M | 16.65M | 43.17M | 2.70M | 79.45M | 30.33M |
Beyond Air Technical Analysis
Negative
0.81
Price Trends
1.12
Negative
1.19
Negative
2.04
Negative
Market Momentum
-0.08
Negative
39.10
Neutral
31.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XAIR, the sentiment is Negative. The current price of 0.81 is below the 20-day moving average (MA) of 0.85, below the 50-day MA of 1.12, and below the 200-day MA of 2.04, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 39.10 is Neutral, neither overbought nor oversold. The STOCH value of 31.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
62 Neutral | $118.53M | -2.59 | -103.93% | ― | -20.10% | 7.87% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $57.68M | -0.59 | 108.32% | ― | -25.18% | -9.71% | |
48 Neutral | $240.32M | -6.74 | 137.18% | ― | 49.52% | 19.34% | |
46 Neutral | $58.71M | -1.67 | -82.79% | ― | 15.59% | 4.13% | |
45 Neutral | $8.51M | -0.21 | -279.58% | ― | 147.74% | 73.23% | |
42 Neutral | $24.38M | -1.78 | -279.06% | ― | ― | ― |
* Healthcare Sector Average
XAIR
Beyond Air
0.81
-4.86
-85.76%
LUNG
Pulmonx
1.39
-5.98
-81.14%
HYPR
Hyperfine
1.21
0.38
45.78%
TLSI
TriSalus Life Sciences
3.92
-1.75
-30.86%
IINN
Inspira Technologies Oxy BHN
0.56
-0.21
-26.88%
COCH
Envoy Medical
0.75
-0.67
-47.00%
Beyond Air Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Beyond Air Reports Strong Q3 Growth and Funding Extension
Positive
Feb 13, 2026
On February 13, 2026, Beyond Air reported fiscal third-quarter 2026 results for the period ended December 31, 2025, with revenue more than doubling year over year to $2.2 million, driven by growing demand for LungFit PH in the U.S. and abroad, inc...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Beyond Air Stockholders Approve Directors and Equity Plan
Positive
Feb 2, 2026
On January 30, 2026, Beyond Air, Inc. held its 2026 Annual Meeting of Stockholders, at which 52.70% of the 8,009,488 outstanding common shares as of the December 3, 2025 record date were represented, constituting a quorum. Shareholders elected six...
Private Placements and Financing
Beyond Air Announces $5 Million Private Placement Financing
Positive
Jan 20, 2026
On January 14, 2026, Beyond Air entered into a securities purchase agreement with an institutional investor for a $5 million private placement priced at-the-market under Nasdaq rules, comprising 524,990 shares of common stock, pre-funded warrants ...
Business Operations and StrategyM&A Transactions
Beyond Air Sells Majority NeuroNOS Stake to XTL
Positive
Jan 15, 2026
On January 13, 2026, XTL Biopharmaceuticals announced a binding agreement to acquire Beyond Air’s 85% stake in NeuroNOS, a nitric oxide–focused biotech developing disease-modifying small-molecule therapeutics for Autism Spectrum Disord...
Business Operations and StrategyExecutive/Board Changes
Beyond Air Appoints Dan Moorhead as New CFO
Positive
Dec 30, 2025
On December 24, 2025, Beyond Air’s board approved the appointment of veteran finance executive Daniel (Dan) Moorhead as Chief Financial Officer, principal financial officer and principal accounting officer, effective January 5, 2026, replaci...
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.