Beyond Air, Inc. Q1 FY2026 earnings call

• Sales and Revenue: LungFit PH revenue saw a 157% YOY increase. The new sales team and strategy under David Webster are driving growth. Sequential growth of 50% from Q1 to Q2 2025.
• Distribution: Built US and international distribution networks. Added to Premier network, providing access to close to 3,000 hospitals.
• Product Pipeline: LungFit PH II pending regulatory clearance. LungFit GO on track for pre-IDE submission to FDA by year-end.
• Cost Reduction: Total operating expenses reduced by 40% YOY, with SG&A and R&D expenses cut.
• Other Segments: Beyond Cancer assessing path forward; NeuroNOS to meet FDA for human studies by end of 2026.

The main product segment is LungFit PH. For the fiscal quarter ended June 30, 2025, revenue increased 157% to $1.8 million compared with $0.7 million for the same period last year. On a sequential basis, it was a 50% increase over the quarter ended March 31, 2025. Gross profit for the first fiscal quarter of 2026 was approximately $0.2 million, up from a loss of $0.3 million for the same period last year. International revenues were recorded for the first time, with access to over 30 countries and distribution partners covering more than 2 billion lives.

• Reaffirmed revenue guidance for fiscal year 2026 at $12 million to $16 million.
• Confident in hitting the range due to growing sales pipeline, international expansion, and ongoing market adoption of LungFit PH.

• Uncertainties in regulatory approvals for LungFit PH II.
• Timing of international market adoption and sales from distribution partners.
• Dependence on contract renewals and new sales, with no reliance on renegotiated or expanded contracts in the forecast.

Q: Congrats on a nice quarter. How should we think about the various growth drivers coming together this year?

A: Need a bit more momentum over the next 7 months. Premier agreement will have impact but more so in next fiscal year. Confident in hitting the range with open opportunities.

Q: Can you comment on how your engagement efforts are being facilitated by your Premier agreement?

A: Being on Premier removes a big initial barrier, allows free discussions, and pricing is set in the contract, saving time.

Q: Can you give some guidance on the number of hospitals that have installed LungFit PH?

A: It's a pretty big number, dozens of hospitals, and growing.

Q: What's your expectation for PMA filings for cardiac surgery and second gen?

A: Focus is on second-generation machine; not giving timing on FDA approvals, and cardiac indication is less impactful with second-gen.