In the fiscal Q2 2026 period (quarter ended September 30, 2025), Beyond Air reported revenue of $1.818 million, representing a 128% year-over-year increase from $0.8 million in the prior-year period, with sequential growth essentially flat as hospital purchasing cycles and international shipment timing introduced quarterly variability. The company attributes the strength to accelerating hospital adoption of LungFit PH, expanded international distribution, and the ramp of its first commercial international placement. However, gross profit remained negative at -$0.298 million, producing a gross margin of -16.4%, as costs to upgrade the existing device fleet and provisions for excess inventory weighed on profitability. Operating loss was -$7.661 million and net loss -$7.94 million, translating to an EPS of -$1.25 for the quarter. Management emphasized a clear strategic runway: (1) advance Gen II LungFit PH with a planned U.S. commercial launch in late calendar 2026, (2) expand international penetration toward a 60-country footprint in 2026 and beyond, (3) broaden commercial models including a capital purchase option to accelerate US adoption, and (4) strengthen the balance sheet via Streeterville Capital financing (debt of $12 million and a $20 million equity line). The company expects FY2026 revenue to be in the $8â$10 million range, with cash runway into calendar 2027 assuming revenue growth materializes and cost discipline continues. Management also underscored ongoing demand signals from customers renewing multiyear commitments and expanding volumes, along with the first international commercial placement outside the U.S. status achieved this quarter. While profitability remains distant in the near term, the combination of a strengthened liquidity position, a robust commercial pipeline, and the Gen II program provides a tangible pathway toward accelerated revenue growth and potential profitability as adoption scales.