The key catalyst remains FDA approval of the second-generation LungFit PH PMA supplement, which would unlock a 4x larger U.S. addressable market and is embedded in the CY2027 guidance. Monitor for FDA decision and the full Q3 2026 earnings report in November for complete financials and cash runway update.
Price Chart
Executive Summary
Beyond Air preannounced preliminary Q3 2026 revenue of $2.3M, its highest quarterly revenue ever, representing ~30% sequential growth and 27% YoY growth, driven by continued adoption of the first-generation LungFit PH system. The company reaffirmed its CY2026 revenue guidance of $8M and CY2027 guidance of $16-18M, which depends on FDA approval of the second-generation system. The filing is a positive operational update, but the stock remains highly binary on the FDA PMA supplement decision for the second-generation LungFit PH system.
Key Financial Metrics
Key Facts
- Preliminary Q3 2026 revenue of $2.3M, a record quarterly high, up ~30% sequentially from Q2 2026 and 27% YoY from Q3 2025.
- CY2026 revenue guidance reaffirmed at $8M (excludes second-generation system); CY2027 guidance reaffirmed at $16-18M (includes second-generation system, pending FDA approval).
- Second-generation LungFit PH system remains under FDA review (PMA supplement submitted June 2025); approval would expand addressable U.S. market to ~$400M and global to >$1B.
- The company expects to report complete Q3 2026 financial results in November 2026.
Financial Impact
Preliminary Q3 2026 revenue of $2.3M is a record high; sequential growth of ~30% and YoY growth of 27%.
Risk Factors
- FDA may not approve the second-generation LungFit PH system, or approval may be delayed, which would jeopardize CY2027 revenue guidance.
- Preliminary revenue is unaudited and subject to revision upon completion of financial closing procedures.
- The company had only $17.3M in cash as of March 31, 2026, with $21.6M in long-term debt, raising potential financing risk if FDA approval is delayed.
- Nasdaq listing compliance remains a risk; the company executed a 1-for-20 reverse stock split in July 2025 to address bid price requirements.
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-046268 |
| Exhibit: ex99-1.htm | 0001493152-26-046268 |
| Document: 0001493152-26-046268-index-headers.html | 0001493152-26-046268 |
| Document: 0001493152-26-046268-index.html | 0001493152-26-046268 |
| Document: 0001493152-26-046268.txt | 0001493152-26-046268 |
| 8-K Data (Synthetic) | 0001493152-26-046268 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 21, 2026 5d ago | SC 13G/A | $2.34 | awaiting T+60 | — | $2.09 (−10.68%) |
Oct 8, 2026 18d ago | 8-K | $2.31 | awaiting T+60 | — | $2.09 (−9.52%) |
Sep 24, 2026 4w ago | 8-K | $2.85 | awaiting T+60 | — | $2.09 (−26.67%) |
Aug 25, 2026 8w ago | EFFECT | $4.98 | awaiting T+60 | — | $2.09 (+58.03%) |
Jul 31, 2026 12w ago | Insider Cluster | $6.33 | awaiting T+60 | — | $2.09 (−66.98%) |
Jul 31, 2026 12w ago | 8-K | $5.28 $2.14 | ▲ +59.43% | ▲ +61.89% | $2.09 (+60.38%) |
Jul 2, 2026 16w ago | Court Ruling | $0.4390 $0.1415 | ▲ +67.77% | ▲ +69.49% | $2.09 (−376.08%) |
Jun 26, 2026 17w ago | 8-K | $0.4646 $0.1505 | ▼ −67.61% | ▼ −71.22% | $2.09 (+349.85%) |
Jun 22, 2026 18w ago | 8-K | $0.4680 $0.1540 | ▼ −67.09% | ▼ −71.05% | $2.09 (+346.58%) |
Apr 20, 2026 27w ago | Press Release | $10.90 $5.55 | ▼ −49.08% | ▼ −55.28% | $2.09 (−80.83%) |
US Market Status
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