Beyond Air, Inc. filed its Form 10-Q with the SEC on November 12, 2026, reporting unaudited condensed consolidated financial results for the three and six months ended September 30, 2026, along with balance sheet and equity details reflecting a one-for-twenty reverse stock split completed in July 2026.

Key Highlights

  • Revenue growth: Revenues for the six months ended September 30, 2026 were $4,092 thousand, up from $3,578 thousand in the same period of the prior year, according to the filing.
  • Net loss attributable to Beyond Air, Inc.: $15,753 thousand for the six months ended September 30, 2026, compared with $15,631 thousand in the prior-year period.
  • Gross profit turned positive: The company reported a gross profit of $422 thousand for the six-month period, versus a gross loss of $142 thousand in the comparable prior-year period.
  • Accumulated deficit: As of September 30, 2026, the accumulated deficit stood at $335,324 thousand, up from $319,571 thousand as of March 31, 2026.
  • Shares outstanding: As of November 10, 2026, there were 1,666,104 shares of common stock outstanding, par value $0.0001 per share, reflecting the one-for-twenty reverse stock split effected in July 2026.
  • Capital raised: During the quarter ended September 30, 2026, the company completed a sale of common stock and pre-funded warrants raising $9,109 thousand in additional paid-in capital, as reported in the equity statement.
  • Assets held for sale: Current assets held for sale of $3,024 thousand and current liabilities held for sale of $759 thousand appeared on the September 30, 2026 balance sheet, with no comparable balances as of March 31, 2026.

Beyond Air's Financial Position and Operations: Quarter and Six Months Ended September 30, 2026

According to the filing, Beyond Air, Inc. (NASDAQ:XAIR) reported total revenues of $2,324 thousand for the three months ended September 30, 2026, compared with $1,818 thousand for the same period in 2025. For the six-month period, revenues rose to $4,092 thousand from $3,578 thousand. The company disclosed a gross profit of $197 thousand for the second quarter, a turnaround from a gross loss of $298 thousand in the prior-year quarter. Cost of revenues for the six months was $3,670 thousand, down from $3,720 thousand a year earlier.

Total operating expenses for the six months ended September 30, 2026 were $13,009 thousand, compared with $15,136 thousand in the prior-year period. Research and development expenses declined to $3,540 thousand from $5,536 thousand, while selling, general, and administrative expenses were $9,469 thousand versus $9,600 thousand. The loss from operations for the six-month period was $12,587 thousand, compared with a loss of $15,278 thousand in the same period of 2025. The filing also reported a loss on contract manufacturer's inventory obsolescence of $567 thousand and a loss on extinguishment of debt of $405 thousand for the six months ended September 30, 2026, with no comparable figures in the prior-year period.

As of September 30, 2026, total assets were $36,255 thousand and total liabilities were $30,131 thousand, resulting in total stockholders' equity of $6,124 thousand. Long-term debt, net, was $21,982 thousand. The company disclosed that prior-period share and per-share figures were adjusted to reflect the one-for-twenty reverse stock split completed in July 2026. Net basic and diluted loss per share attributable to Beyond Air, Inc. was $(3.76) for the three months and $(11.22) for the six months ended September 30, 2026.

What Was Disclosed

Beyond Air, Inc. filed its quarterly report covering the period ended September 30, 2026, disclosing revenues, operating losses, balance sheet data, a reverse stock split adjustment, assets and liabilities held for sale, and equity transactions including a stock offering and debt conversions.