Business
Beyond Air® Reports Fiscal First Quarter 2025 Financial Results and Provides Corporate Update
Revenues increased 45% compared to the previous quarter ended March 31, 2024 Optimized LungFit PH device continues to expand footprint and strengthen customer
About this update from Beyond Air, Inc.
[{"type":"text","content":"Revenues increased 45% compared to the previous quarter ended March 31, 2024 Optimized LungFit PH device continues to expand footprint and strengthen customer base Amir Avniel, Beyond Air Board member and Chief Business Officer, appointed Chief Executive Officer of NeuroNOS, Beyond Air’s wholly owned subsidiary focused on neurological disorders with a lead indication of Autism Spectrum Disorder Reiterates revenue guidance of at least $10 million for FY 2025 GARDEN CITY, N.Y., Aug. 06, 2024 (GLOBE NEWSWIRE) -- Beyond Air, Inc. (NASDAQ: XAIR) (“Beyond Air” or the “Company”), a commercial stage medical device and biopharmaceutical company focused on harnessing the power of nitric oxide (NO) to improve the lives of patients, today announced its financial results for the fiscal first quarter ended June 30, 2024, and provided a corporate update. “Our team continues to enhance the commercial execution for LungFit PH, which includes strengthening our sales pipeline in targeted markets across the U.S. We are confident in the long-term growth of our optimized LungFit PH system and have received positive feedback from new and existing customers as they realize the clinical benefits the system provides by offering on-demand, ambient air-generated NO compared to legacy cylinder NO systems. Through our consistent efforts and customer engagement, we are seeing an increasing number of customer engagements for multi-year contracts in the sales pipeline and existing hospital relationships are expanding across affiliate locations,” said Steve Lisi, Chairman and Chief Executive Officer of Beyond Air. “This continued positive momentum is supported by our capital conservation strategy, which has strengthened our cash runway to focus on LungFit PH’s launch, and our new Chief Commercial Officer, David Webster, who brings a results-driven mentality that is already energizing our commercial operations.” Recent Portfolio Highlights and Upcoming Milestones LungFit® PH Commercial Execution Increased commercial demand for LungFit PH, as evidenced by: A 45% increase in quarterly revenue compared to the previous quarter ending March 31, 2024More than $7 million in aggregate contracted revenue through fiscal year 2027LungFit PH devices have been used in more than 55 hospitalsCustomer base extending across 10 states in the U.S. Pipeline Highlights Cardiac surger...