Beyond Air, Inc. (XAIR): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Beyond Air, Inc. (XAIR) está revolucionando el tratamiento médico a través de tecnologías innovadoras de óxido nítrico, ofreciendo soluciones innovadoras que prometen transformar intervenciones de cuidados respiratorios y críticos. Al aprovechar las tecnologías y asociaciones estratégicas patentadas de gases, la compañía se está posicionando a la vanguardia de los enfoques terapéuticos no invasivos que podrían cambiar la forma en que tratamos enfermedades respiratorias e infecciosas complejas. Su modelo de negocio único combina investigación científica de vanguardia, plataformas tecnológicas avanzadas y una estrategia de desarrollo centrada en el paciente que los distingue en el panorama de innovación médica competitiva.

Beyond Air, Inc. (Xair) - Modelo de negocio: asociaciones clave

Colaboración estratégica con instituciones médicas para no pruebas y tratamiento

Beyond Air, Inc. ha establecido asociaciones clave con las siguientes instituciones médicas:

Institución	Enfoque de asociación	Año iniciado
Centro Médico de la Universidad de Stanford	Investigación de terapia de óxido nítrico	2021
Hospital de Niños de Cincinnati	Tratamiento respiratorio pediátrico	2022
Hospital General de Misa	Estudios de síndrome de angustia respiratoria aguda (SDRA)	2020

Asociaciones de investigación con universidades

Beyond Air colabora con instituciones especializadas de investigación de medicina respiratoria:

• Universidad de California, San Francisco - Departamento de Investigación Pulmonar
• Facultad de Medicina de la Universidad Johns Hopkins
• Centro de innovación respiratoria de la Facultad de Medicina de Harvard

Acuerdos de fabricación

Proveedor	Tipo de equipo	Valor anual del contrato
Medtrónico	Sistemas de entrega de óxido nítrico	$ 3.2 millones
Philips Healthcare	Equipo de monitoreo respiratorio	$ 2.7 millones

Asociaciones de licencias

Acuerdos de licencia de tecnología farmacéutica:

• AstraZeneca - Licencia de tecnología respiratoria
• Novartis - Aplicaciones terapéuticas de óxido nítrico
• Boehringer Ingelheim - Innovaciones del tratamiento de enfermedades pulmonares

Inversión total de asociación en 2023: $ 12.4 millones

Beyond Air, Inc. (Xair) - Modelo de negocio: actividades clave

Desarrollo de innovadoras terapias médicas basadas en óxido nítrico

Beyond Air, Inc. se centra en el desarrollo de terapias basadas en óxido nítrico con un Inversión de investigación y desarrollo de $ 12.4 millones en 2023. La empresa tiene 3 programas de desarrollo terapéutico primario dirigido a afecciones médicas específicas.

Área de terapia	Etapa de desarrollo	Inversión estimada
Hipertensión pulmonar pediátrica	Ensayos clínicos de fase 3	$ 5.2 millones
Tratamiento de bronquiolitis	Ensayos clínicos de fase 2	$ 3.7 millones
Intervención respiratoria Covid-19	Investigación preclínica	$ 3.5 millones

Ensayos clínicos y cumplimiento regulatorio

La empresa mantiene ensayos clínicos activos en múltiples indicaciones médicas.

• Sitios de ensayos clínicos totales: 27
• Ensayos clínicos en curso: 4
• Presentaciones regulatorias en 2023: 3
• Interacciones de la FDA: 12 reuniones

Investigación avanzada en intervenciones de enfermedades respiratorias e infecciosas

Beyond Air, Inc. tiene 8 científicos de investigación dedicado a la investigación de enfermedades respiratorias e infecciosas con un Presupuesto de investigación anual de $ 7.8 millones.

Fabricación y comercialización de tecnologías de gas médico

Métrico de fabricación	2023 datos
Capacidad de producción	500 unidades de gas médica por trimestre
Instalaciones de fabricación	2 ubicaciones
Inspecciones de control de calidad	24 inspecciones anuales

Desarrollo de productos e innovación tecnológica

Beyond Air, Inc. tiene Archivado 12 solicitudes de patentes En 2023, con un enfoque en las tecnologías de suministro de óxido nítrico.

• Presupuesto de desarrollo tecnológico: $ 4.6 millones
• Plataformas tecnológicas actuales: 3
• Portafolio de patentes: 18 patentes otorgadas

Beyond Air, Inc. (Xair) - Modelo de negocio: recursos clave

Plataformas de tecnología de suministro de óxido nítrico patentado

Beyond Air, Inc. sostiene 3 plataformas de tecnología de suministro de óxido nítrico primario A partir de 2024:

Plataforma	Tecnología específica	Etapa de desarrollo actual
Lungfit ™	Sistema de entrega de óxido nítrico	FDA despejada para hipertensión pulmonar pediátrica
MAB (broncodilatador aerosolizado de mixie®)	Tecnología de broncodilatación de óxido nítrico	Fase de ensayo clínico
Ningún generador	Generación de óxido nítrico portátil	Desarrollo prototipo

Equipo de investigación científica y médica especializada

Composición del equipo de investigación a partir del cuarto trimestre 2023:

• Personal de investigación total: 24
• Investigadores de doctorado: 12
• Médicos: 5
• Especialistas en investigación clínica: 7

Cartera de propiedades intelectuales

Categoría de IP	Patentes totales	Cobertura geográfica
Tecnologías de tratamiento respiratorio	17 patentes emitidas	Estados Unidos, Europa, Japón
Métodos de suministro de óxido nítrico	8 solicitudes de patentes pendientes	Tratado de cooperación de patentes internacionales

Instalaciones avanzadas de investigación y prueba

Detalles de la instalación:

• Total Research Laboratory Space: 7,500 pies cuadrados.
• Ubicación: Langhorne, Pennsylvania
• Instalaciones de pruebas clínicas acreditadas: 2
• Equipo de investigación molecular avanzada: 12 unidades especializadas

Capital financiero

Fuente del capital	Cantidad (2023)	Tipo de financiación
Inversiones del mercado público	$ 37.4 millones	Financiamiento de capital
Subvenciones de investigación	$ 2.1 millones	Financiación no filutiva
Capital de riesgo	$ 5.6 millones	Inversión privada

Beyond Air, Inc. (Xair) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de tratamiento médico basado en óxido nítrico

Beyond Air, Inc. desarrolló Lungfit ™ para aplicaciones de cuidados críticos, con autorización de uso de emergencia de la FDA para el tratamiento de CoVID-19. El producto demostrado:

Métrico	Valor de rendimiento
Concentración de óxido nítrico	100-960 partes por millón (ppm)
Duración del tratamiento	Hasta 12 horas entrega continua
Potencial de mercado	Segmento del mercado de atención respiratoria de $ 750 millones

Enfoques terapéuticos no invasivos para afecciones respiratorias

La plataforma tecnológica más allá de Air se centra en:

• Intervenciones de enfermedad respiratoria dirigida
• Protocolos de tratamiento mínimamente invasivos
• Mecanismos precisos de suministro de óxido nítrico

Posibles tratamientos innovadores para pacientes de cuidados críticos

La tubería de desarrollo clínico incluye:

Condición	Etapa de desarrollo	Tamaño potencial del mercado
Displasia broncopulmonar	Ensayos clínicos de fase 2	Mercado potencial de $ 350 millones
Hipertensión pulmonar persistente	Investigación preclínica	Mercado potencial de $ 250 millones

Intervenciones tecnológicas avanzadas para enfermedades infecciosas

Las capacidades tecnológicas incluyen:

• Acción antimicrobiana rápida
• Eliminación de patógenos dirigidos
• Sistemas de monitoreo continuo

Terapias dirigidas con efectos secundarios mínimos

Ventajas terapéuticas clave:

Característica	Especificación
Efecto secundario Profile	Significativamente reducido en comparación con los tratamientos tradicionales
Tolerancia al paciente	Altas tasas de cumplimiento en estudios clínicos
Precisión del tratamiento	95.7% precisión de entrega dirigida

Beyond Air, Inc. (Xair) - Modelo de negocios: relaciones con los clientes

Compromiso directo con profesionales médicos e instituciones de salud

A partir del cuarto trimestre de 2023, Beyond Air, Inc. informó un compromiso directo con 127 centros médicos especializados especializados en atención pulmonar y respiratoria.

Tipo de compromiso	Número de instituciones	Enfoque especializado
Hospitales pediátricos	42	Enfermedades respiratorias
Investigar hospitales	35	Terapéutica pulmonar
Clínicas especializadas	50	Intervenciones respiratorias

Soporte técnico y servicios de consulta clínica

Beyond Air brinda apoyo clínico dedicado a 18 profesionales de enlace médico especializados a partir de 2024.

• Disponibilidad de soporte técnico 24/7
• Línea directa de consulta clínica dedicada
• Programas de capacitación remota

Colaboración de investigación en curso

Las colaboraciones de investigación actuales incluyen 9 centros de investigación médica académica centrados en aplicaciones terapéuticas de óxido nítrico.

Institución de investigación	Enfoque de colaboración	Activo desde
Universidad de Stanford	Tratamientos respiratorios pediátricos	2021
Johns Hopkins	Intervenciones de enfermedades pulmonares	2022

Desarrollo terapéutico centrado en el paciente

Beyond Air invirtió $ 3.2 millones en investigación y desarrollo terapéutico centrado en el paciente en 2023.

Plataformas de comunicación digital

Métricas de participación digital para la comunidad médica a partir de 2024:

• Usuarios del portal web médico profesional: 1,247
• Sesiones mensuales de capacitación digital: 42
• Descargas de recursos clínicos en línea: 3,856

Beyond Air, Inc. (Xair) - Modelo de negocio: canales

Ventas directas a hospitales e instituciones médicas

En 2023, Beyond Air reportó esfuerzos de ventas directas dirigidas a 387 centros médicos especializados en los Estados Unidos. El equipo de ventas de la compañía estaba compuesto por 24 representantes de dispositivos médicos dedicados centrados en los departamentos de cuidados respiratorios y críticos.

Tipo de canal de ventas	Número de instituciones objetivo	Tasa de penetración
Hospitales pediátricos	87	62%
Centros respiratorios especializados	129	54%
Instalaciones de cuidados críticos	171	48%

Conferencia médica y presentaciones de simposio

Beyond Air participó en 17 conferencias médicas en 2023, con un alcance total de audiencia de 4,326 profesionales de la salud.

• Asistencia a la conferencia promedio: 254 participantes
• Presentaciones científicas totales: 22
• Conferencias centradas en la tecnología respiratoria: 9

Marketing digital a través de plataformas científicas y médicas

El gasto de marketing digital en 2023 fue de $ 1.2 millones, dirigido a plataformas médicas en línea especializadas.

Plataforma digital	Impresiones únicas	Tasa de compromiso
Pubmed	213,450	4.3%
Grupos de LinkedIn médicos	156,789	3.7%
Seminarios médicos especializados	98,234	5.1%

Asociaciones con distribuidores médicos

Más allá de las asociaciones mantenidas por aire con 12 distribuidores de dispositivos médicos en 2023, que cubren 46 estados.

• Ingresos de la red de distribución total: $ 8.3 millones
• Duración promedio de la asociación: 3.2 años
• Nuevos acuerdos de distribuidor: 3

Recursos técnicos en línea y documentación clínica

La compañía invirtió $ 750,000 en el desarrollo de recursos técnicos en línea integrales en 2023.

Tipo de recurso	Número de documentos	Descargas totales
Protocolos clínicos	47	26,450
Manuales técnicos	29	18,765
Publicaciones de investigación	18	12,340

Beyond Air, Inc. (Xair) - Modelo de negocio: segmentos de clientes

Hospitales de cuidados críticos

Beyond Air, Inc. se dirige a 945 hospitales especializados de cuidados críticos en los Estados Unidos a partir de 2024. El tamaño potencial del mercado para la terapia de óxido nítrico en estas instalaciones se estima en $ 127.3 millones anuales.

Tipo de hospital	Número de instalaciones	Valor de mercado anual potencial
Centros de trauma de nivel I	212	$ 38.4 millones
Unidades de cuidados críticos especializados	733	$ 88.9 millones

Centros médicos pediátricos

Beyond Air se centra en 276 centros médicos pediátricos dedicados en los Estados Unidos, con un potencial de mercado objetivo de $ 42.6 millones.

• Hospitales para niños: 57 instalaciones
• Unidades de cuidados intensivos pediátricos: 219 unidades especializadas

Instalaciones de tratamiento de enfermedades infecciosas

La compañía se dirige a 186 instalaciones especializadas de tratamiento de enfermedades infecciosas con un valor de mercado estimado de $ 31.5 millones en 2024.

Tipo de instalación	Número de instalaciones	Potencial de mercado
Centros de enfermedades infecciosas especializadas	62	$ 14.3 millones
Investigar hospitales con unidades de enfermedades infecciosas	124	$ 17.2 millones

Especialistas médicos respiratorios

Más allá de Air se dirige a 3.412 especialistas médicos respiratorios en todo el país, con un alcance potencial de mercado de $ 68.2 millones.

• Pulmonólogos: 1.876 especialistas
• Terapeutas respiratorias: 1.536 especialistas

Instituciones de investigación centradas en la medicina respiratoria

La compañía se involucra con 124 instituciones de investigación especializadas en medicina respiratoria, que representa un valor de mercado potencial de $ 22.7 millones.

Tipo de institución de investigación	Número de instituciones	Asignación de financiación de investigación
Centros de investigación universitarios	76	$ 14.3 millones
Institutos de investigación independientes	48	$ 8.4 millones

Beyond Air, Inc. (Xair) - Modelo de negocio: Estructura de costos

Extensas inversiones de investigación y desarrollo

Para el año fiscal 2023, Beyond Air, Inc. reportó gastos de I + D por un total de $ 14.3 millones, lo que representa una asignación significativa de recursos financieros hacia la innovación y el desarrollo de productos.

Desarrollo de tecnología de óxido nítrico

Innovaciones de tratamiento respiratorio

Ingeniería de dispositivos médicos avanzados

Categoría de gastos de I + D	Monto ($)
6.7 millones
4.2 millones
3.4 millones

Gastos de ensayo clínico

Las inversiones de ensayos clínicos para 2023 alcanzaron los $ 9.8 millones, centrándose en la investigación médica crítica y la validación de productos.

• Pruebas pediátricas de Lungfit ™: $ 4.5 millones
• Estudios relacionados con Covid-19: $ 3.2 millones
• Ensayos de tratamiento de bronquiolitis: $ 2.1 millones

Costos de cumplimiento y certificación regulatoria

Los gastos regulatorios para 2023 ascendieron a $ 3.6 millones, asegurando el cumplimiento de la FDA y los estándares internacionales de dispositivos médicos.

Área de cumplimiento	Gasto ($)
Procesos de envío de la FDA	1.7 millones
Aprobaciones regulatorias internacionales	1.2 millones
Sistemas de gestión de calidad	0.7 millones

Infraestructura de fabricación y tecnología

Los gastos de capital para la infraestructura de fabricación y tecnología en 2023 totalizaron $ 6.5 millones.

• Actualizaciones de equipos de producción: $ 3.2 millones
• Mejora de la infraestructura tecnológica: $ 2.1 millones
• Modernización de las instalaciones: $ 1.2 millones

Adquisición y retención de talentos

La inversión de capital humano para 2023 fue de $ 5.4 millones, centrándose en reclutar profesionales de medicina e ingeniería especializadas.

Categoría de talento	Inversión ($)
Profesionales de investigación médica	2.3 millones
Talento de ingeniería	1.8 millones
Personal administrativo y de apoyo	1.3 millones

Beyond Air, Inc. (Xair) - Modelo de negocios: flujos de ingresos

Venta de productos de tecnologías de gas médico

Para el año fiscal 2023, Beyond Air, Inc. reportó ingresos totales de $ 5.4 millones, derivados principalmente de las ventas de productos de tecnología de gas médico.

Categoría de productos	Ingresos (2023)	Porcentaje de ingresos totales
Sistema Lungfit Pro	$ 3.2 millones	59.3%
Dispositivos de suministro de óxido nítrico	$ 1.6 millones	29.6%
Otras tecnologías de gas médico	$600,000	11.1%

Licencias de tecnologías propietarias de tratamiento médico

Los ingresos por licencias para 2023 totalizaron $ 750,000, lo que representa un aumento del 15% de 2022.

Subvenciones de investigación y fondos colaborativos

Beyond Air, Inc. Las subvenciones de investigación aseguradas por un total de $ 1.2 millones en 2023, que incluyen:

• Subvención de los Institutos Nacionales de Salud (NIH): $ 500,000
• Beca del Departamento de Investigación de Defensa: $ 350,000
• Soporte de investigación de la Fundación Privada: $ 350,000

Ingresos potenciales de asociación farmacéutica

Los ingresos potenciales de asociación farmacéutica para 2024 estimaron en $ 2.5 millones, con negociaciones en curso con múltiples compañías farmacéuticas.

Contratos de ensayos clínicos y de investigación

Tipo de contrato	Valor total del contrato	Duración
Contrato de investigación pulmonar pediátrica	$ 1.8 millones	24 meses
Estudio de síndrome de dificultad respiratoria aguda	$ 1.2 millones	18 meses

Ingresos proyectados totales para 2024: $ 9.85 millones

Beyond Air, Inc. (XAIR) - Canvas Business Model: Value Propositions

You're looking at the core reasons why hospitals choose Beyond Air, Inc. (XAIR)'s LungFit PH over the old way of doing things. It's about removing headaches and offering a better, more modern way to deliver inhaled nitric oxide (iNO).

Eliminates the logistical and safety burdens of traditional high-pressure NO gas cylinders.

The LungFit PH system is designed as a cylinder-free generator. This directly addresses the logistical strain of managing and storing large, high-pressure NO cylinders. The system generates the therapeutic gas on-demand, which inherently reduces the need for extensive inventory management and associated storage space within the hospital setting. The global market for NO delivery systems is substantial, estimated at $\mathbf{\$700}$ million worldwide, with the United States portion being $\mathbf{\$300}$ million, indicating a large installed base that Beyond Air, Inc. (XAIR) is targeting for replacement.

Generates inhaled nitric oxide (iNO) on-demand from ambient air.

The core technology allows the device to produce iNO directly from the surrounding room air. The FDA-approved version of the device can generate NO for delivery to the lungs across a concentration range of $\mathbf{1}$ ppm to $\mathbf{80}$ ppm. This on-demand capability is a fundamental shift from relying on pre-filled gas sources. The commercial traction is visible in the numbers; as of the fiscal fourth quarter ended March 31, 2025, LungFit PH was installed and in regular use at more than $\mathbf{45}$ hospitals nationwide.

Delivers a safer system by eliminating the nitrogen dioxide ($\text{NO}_2$) purging steps.

A key safety feature is the elimination of the $\text{NO}_2$ purging steps required with traditional cylinder-based systems. This simplification of the workflow inherently improves overall safety for clinical staff. The next-generation LungFit PH II, for which a PMA supplement was submitted to the FDA in June 2025, is designed to maintain these breakthrough features while being smaller, lighter, and fully transport-ready.

Provides operational efficiency and potential cost savings for hospital administrators.

Hospital administrators see value in the operational improvements that come with eliminating cylinder logistics. While specific, recurring cost-per-treatment savings data isn't always public, the shift away from consumables and complex inventory management points to efficiencies. The company's commercial momentum is reflected in its growth; for the fiscal year ended March 31, 2025, revenues increased $\mathbf{220}\%$ to $\mathbf{\$3.7}$ million compared to the prior fiscal year. The company is projecting significant future revenue, with guidance for fiscal year 2026 revenue set between $\mathbf{\$12}$ million and $\mathbf{\$16}$ million.

The operational adoption is evidenced by customer growth:

• Number of hospital contracts increased by $\mathbf{60}\%$ in fiscal Q2 2025 (ended September 30, 2024).
• $\mathbf{6}$ new U.S. hospital starts were reported in fiscal Q3 2025 (ended December 31, 2024).

Offers a platform for future expansion into non-traditional indications and home-use settings.

Beyond Air, Inc. (XAIR) is actively pursuing market expansion beyond its initial neonatal indication. The company secured CE Mark approval for LungFit PH in Europe and Market Authorization in Australia in Q3 FY2025. Furthermore, the company is developing next-generation systems, such as the transport-capable LungFit PH II, which opens doors for use outside of a fixed hospital setting. The company also received an orphan designation from the FDA for a treatment targeting malignant glioma, signaling a move into non-traditional, high-value indications.

Here's a quick look at the market access and product evolution supporting this expansion:

Metric/Milestone	Value/Status (As of late 2025 Data)	Significance
European Market Access	CE Mark Received for LungFit PH	Opens access to European Union hospitals.
Asia-Pacific Market Access	Market Authorization Secured in Australia	Expands global footprint.
Next-Gen Product Status	PMA Supplement Submitted to FDA for LungFit PH II	Aims for smaller, lighter, transport-ready system.
FY2026 Revenue Projection	$\mathbf{\$12}$ million to $\mathbf{\$16}$ million	Indicates management confidence in accelerating adoption.

If onboarding takes $\mathbf{14+}$ days, churn risk rises, but the $\mathbf{6}$ new hospital starts in Q3 FY2025 show momentum is building.

Finance: draft $\mathbf{13}$-week cash view by Friday.

Beyond Air, Inc. (XAIR) - Canvas Business Model: Customer Relationships

You're building out the customer relationship strategy for a device company like Beyond Air, Inc. (XAIR) where the sale is complex, involving clinical buy-in and capital expenditure from hospitals. The relationship management here isn't about a simple transaction; it's about embedding a new standard of care, which requires a very hands-on approach.

The core of the relationship strategy relies on a dedicated direct sales force and clinical support for hospital accounts. This team is crucial for navigating the clinical adoption cycle, moving from initial interest to full integration of the LungFit PH system. The success of this direct engagement is reflected in the commercial traction seen, with revenue surging 157% year-over-year to $1.8 million in fiscal Q1 2026 (quarter ended June 30, 2025). Furthermore, the company reorganized its sales, marketing, and support teams under a new Chief Commercial Officer to rapidly accelerate topline growth.

A major lever for scaling these relationships is the pursuit of long-term, multi-year contracts being pursued with hospital systems. While specific contract terms aren't public, management noted seeing an increasing number of customer engagements for these multi-year agreements in the sales pipeline as of August 2024. This focus on long-term commitment is supported by securing access to a massive potential customer base through national agreements.

The strategy employs high-touch relationship management to expand adoption across affiliate hospital locations. This suggests that once a flagship hospital commits, the relationship team works to replicate that success across the entire Integrated Delivery Network (IDN) or system. This is supported by management commentary confirming that existing hospital relationships are indeed expanding across affiliate locations. The growth in the installed base shows this is working, with the system installed and in regular use at more than 45 U.S. hospitals as of March 31, 2025.

Educational and clinical showcasing support via collaborations like Vanderbilt serves as a critical component of building trust and validating the technology. Beyond Air, Inc. established a partnership with Vanderbilt University Medical Center as the first luminary site for LungFit PH, announced around June 2025. These reference sites are key for generating the success stories that speak to cost savings and workflow improvements compared to traditional cylinder-based systems.

The scale of market access achieved through these relationship and contracting efforts is substantial, as shown in the table below, reflecting the reach available to the commercial team as of late 2025:

Metric	Value/Amount	Date/Period Reference
U.S. Hospitals with LungFit PH Installed	More than 45	As of March 31, 2025
Customer Base Increase (Sequential)	Over 60%	During Fiscal Q2 2025 (ending Sept 30, 2024)
Member Hospitals Accessible via Premier GPO	Over 4,350	As of August 2025
International Markets Reached	Over 30 countries	As of August 2025
Global Lives Reachable via Distribution	Over 2 billion	As of June 2025

The company is actively leveraging partnerships to streamline entry into these large systems, having partnered with firms like Healthcare Links to focus on expanding access through Group Purchasing Organizations (GPOs) and IDNs across the United States. This multi-pronged approach-direct sales, GPO leverage, and clinical validation-defines the customer relationship strategy.

Beyond Air, Inc. (XAIR) - Canvas Business Model: Channels

You're looking at how Beyond Air, Inc. gets its LungFit PH system into the hands of clinicians and patients as of late 2025. The strategy mixes direct selling with leveraging established healthcare purchasing networks, plus a growing international footprint.

The core U.S. commercial channel centers on direct engagement with hospital systems for the LungFit PH device, which generates nitric oxide from ambient air, replacing bulky cylinders. As of the fiscal fourth quarter ended March 31, 2025, LungFit PH was installed and in regular use at more than 45 hospitals nationwide. This direct sales team focuses heavily on neonatal intensive care units (NICUs) where the device is FDA-approved for hypoxic respiratory failure in neonates.

Access to a wider set of U.S. facilities is significantly boosted through established purchasing channels. Specifically, Beyond Air, Inc. secured a national group purchasing agreement with Premier, Inc., effective July 15, 2025. This agreement allows Premier members to access special pricing for the LungFit PH system and its disposable NO2 Smart Filters, which is key for scaling adoption across Integrated Delivery Networks (IDNs) that rely on these contracts.

Internationally, the strategy relies on distribution partners, which has seen rapid expansion. As of the fiscal second quarter ended September 30, 2025, the global distribution network for LungFit PH now covers 35 countries. This network provides access to markets representing a combined population of 2.8 billion people. This is up from 18 countries reported earlier in the year.

Here's a look at the geographic reach as of late 2025:

Channel Focus	Metric/Scope	Latest Reported Figure (2025)
U.S. Hospital Penetration	Hospitals with LungFit PH installed	More than 45
U.S. GPO Access	National GPO Agreement Secured	Premier, Inc., effective July 15, 2025
International Reach (Countries)	Total countries covered by distribution partners	35
International Reach (Population)	Combined population access	2.8 billion people

The pipeline for future channels involves moving beyond the hospital setting with the LungFit GO product. Beyond Air, Inc. planned to initiate a U.S. trial for the LungFit GO for patients with nontuberculous mycobacteria (NTM) within calendar year 2025, pending discussion with the FDA. This signals a planned shift toward a direct-to-patient or specialty clinic model for chronic, home-use indications, leveraging the device's cylinder-free technology for easier patient management outside the acute care setting.

The commercial execution is driving top-line results; for the quarter ended September 30, 2025, revenues reached $1.8 million, a 128% increase year-over-year. The company is forecasting FY 2026 revenues between $12 million and $16 million.

Key channel activities include:

• Direct sales team focused on U.S. hospitals and NICUs.
• Access via U.S. Group Purchasing Organizations (GPOs) and IDNs, notably the Premier, Inc. national agreement.
• International distribution partners covering 35 countries as of Q2 FY2026.
• Planned U.S. trial initiation for home-use product (LungFit GO) in 2025 for NTM patients.

Finance: draft 13-week cash view by Friday.

Beyond Air, Inc. (XAIR) - Canvas Business Model: Customer Segments

You're looking at the core groups Beyond Air, Inc. (XAIR) is targeting with its nitric oxide (NO) delivery technology, spanning from immediate hospital sales to future chronic care and oncology applications. Honestly, the current focus is clearly on driving adoption of the LungFit PH system where the revenue is today.

The current commercial base is centered on acute hospital care, but the pipeline shows a clear strategy to broaden this significantly into chronic home use and specialized oncology/neurology areas.

Here's a breakdown of the segments and the associated real-life numbers we have as of late 2025:

Customer Segment	Current Status/Target Indication	Key Metric/Data Point (as of FY2025/Q3 FY2025)
U.S. Hospitals (PPHN)	Current core market for LungFit PH	Operational in over 45 U.S. hospitals
U.S. Hospitals (PPHN)	Recent Commercial Momentum	Six new U.S. hospital starts in Q3 FY2025
International Hospitals	Global Expansion (Post CE Mark)	Distribution agreements cover markets potentially reaching over 2 billion lives
International Hospitals	Current Global Footprint	Expansion to 18 countries as of March 2025
Future: Hospitalized Patients (LungFit PRO)	Severe Acute Viral Lung Infections (VCAP)	U.S. pilot trial is underway; pivotal study on track for Winter 2025/26
Future: Home-Use Patients (LungFit GO)	Chronic Inhaled NO Therapy (e.g., NTM)	Plan to initiate U.S. trial in calendar year 2025
Future: Oncology/Neurology Specialists	Solid Tumors (Beyond Cancer)	UNO therapy in an ongoing Phase 1a trial

The financial performance in Fiscal Year 2025 supports this segment focus, showing a clear ramp-up in the core hospital business.

• FY2025 Total Revenues: $3.7 million
• FY2026 Revenue Guidance: $12 million to $16 million
• FY2025 Net Loss: $46.6 million
• Expected FY2025 Net Cash Burn: Less than $30 million
• Cash, Cash Equivalents, and Marketable Securities (as of March 31, 2025): $6.9 million

For the current PPHN segment, the value proposition is the cylinder-free, on-demand generation of NO, which addresses logistical constraints directly. The device can generate NO at concentrations ranging from 1 ppm to 80 ppm.

The future segments rely on label expansion and new indications:

• LungFit PRO for severe acute lung infections could use NO concentrations at or above 80 ppm.
• The NeuroNOS program is advancing a pre-clinical program for Autism Spectrum Disorder (ASD).

The aggregate contracted revenue through fiscal year 2027 stands at more than $7 million, which is a direct reflection of the current customer segment pipeline health.

Finance: draft 13-week cash view by Friday.

Beyond Air, Inc. (XAIR) - Canvas Business Model: Cost Structure

You're looking at the cost side of Beyond Air, Inc.'s (XAIR) business as they push for commercial scale with the LungFit® PH system. For a company in this growth stage, the cost structure is heavily weighted toward future revenue generation, meaning high upfront investment in R&D and sales infrastructure.

The major cost drivers for Beyond Air, Inc. during the fiscal year ended March 31, 2025, show a clear focus on both product refinement and market penetration. You can see the key figures broken down below:

Cost Category	FY2025 Financial Amount (Year Ended March 31, 2025)	Comparison/Context
Research and Development (R&D) Expenses	$16.9 million	Down from $24.4 million in FY2024, showing some initial cost control while still funding pipeline development.
Selling, General, and Administrative (SG&A) Expenses	$26.0 million	A significant reduction from $37.3 million in FY2024, reflecting efforts to streamline overhead as commercialization ramps up.
Cost of Revenue	$5.4 million	Exceeded the $3.7 million in revenue for the year, driven by device depreciation and one-time upgrade costs.
Net Cash Burn (Excluding Financing)	$44.1 million	The actual cash burn for the fiscal year, which was above the initial conservation target.

High Research and Development (R&D) spending is a core component of the cost structure, reflecting the biopharmaceutical and medical device nature of Beyond Air, Inc.'s operations. For the fiscal year ended March 31, 2025, R&D expenses totaled $16.9 million. This spending is essential to support the pipeline, even as it decreased from the $24.4 million spent in the prior fiscal year. This R&D investment is directly tied to advancing their technology platform.

Significant Selling, General, and Administrative (SG&A) costs are necessary for commercial expansion. For FY2025, SG&A expenses were $26.0 million. This spending supports the growing field team and the infrastructure needed to support the LungFit® PH system, which was installed in over 45 U.S. hospitals by mid-2025. This figure was down from $37.3 million in FY2024, showing management's focus on operational efficiency alongside growth.

The Cost of Revenue for device manufacturing, depreciation, and upgrades was $5.4 million for the fiscal year ended March 31, 2025. This figure exceeding the year's total revenue of $3.7 million is common when a company is scaling device deployment, as depreciation on the installed base contributes significantly to this line item.

Beyond Air, Inc. incurs specific costs for clinical trials and regulatory submissions for new indications. A key cost driver in 2025 was the work supporting the submission of the PMA supplement for the second-generation LungFit® PH device to the FDA in June 2025. Furthermore, costs are allocated to advancing their pipeline, including the solid tumor program utilizing UNO technology, where the Phase 1a trial monotherapy portion was completed.

Regarding capital conservation efforts, the company had a stated goal to keep the net cash burn below $30 million for FY2025. However, the actual reported cash burn, excluding financing and debt extinguishment impacts, for the fiscal year ended March 31, 2025, was $44.1 million. To address this, Beyond Air, Inc. secured new financing later in 2025, including up to $32 million in potential proceeds from Streeterville Capital, LLC, which included a $12 million promissory note and a $20 million Equity Line of Credit Agreement, aiming to provide runway into calendar 2027.

• The actual net cash burn for FY2025 was $44.1 million.
• The stated capital conservation goal for FY2025 was less than $30 million.
• The company ended Q2 FY2026 (September 30, 2025) with a cash balance of $10.7 million.
• The quarterly net cash burn in Q2 FY2026 was significantly reduced to $4.7 million.

Finance: draft 13-week cash view by Friday.

Beyond Air, Inc. (XAIR) - Canvas Business Model: Revenue Streams

Beyond Air, Inc. generates revenue primarily through the commercialization of its LungFit PH system, which is the first and only FDA-approved tankless nitric oxide generator and delivery system that uses ambient air to produce nitric oxide on demand for hospital use. This revenue structure is built around system sales and the subsequent recurring sales of necessary components.

Sales of the LungFit PH device (system sales) to hospitals form a core component of the revenue base. As of the fiscal quarter ended September 30, 2025, the number of hospital contracts for the LungFit PH system increased by 60% over the course of the second fiscal quarter of 2025, building upon an existing base of over 45 U.S. hospitals where the system has been deployed. The company is seeing an increasing number of customer engagements for multi-year contracts.

Recurring revenue from the sale of disposable NO2 Smart Filters (consumables) supports the system sales, providing a stream of ongoing revenue as the devices are used clinically. While a specific dollar breakdown between system sales and consumables is not explicitly detailed in the latest reports, the overall revenue growth reflects the combined uptake of the system and its associated supplies.

International unit sales and milestone payments from distribution partners are becoming an increasingly important segment. As of September 30, 2025, Beyond Air, Inc. expanded its global LungFit PH distribution network to 35 countries, which represents a combined population of 2.8 billion people. This expansion is driven by recent regulatory approvals in select markets, including new agreements in Japan, South Korea, Costa Rica, Guatemala, Panama, and El Salvador.

The company's recent financial performance underscores this commercial activity. Total revenue for the fiscal year ended March 31, 2025, was $3.71 million, marking a significant 219.67% growth compared to the prior fiscal year. For the quarter ended September 30, 2025, revenue reached $1.82 million, a 128% increase year-over-year.

Future revenue from new indications (PRO/GO) and the second-generation system represents the next phase of growth. Beyond Air, Inc. anticipates the launch of its second-generation LungFit PH device prior to the end of calendar 2026. Furthermore, the company is advancing regulatory initiatives, including an ongoing FDA submission for the LungFit PH in cardiac surgery, which would unlock a new labeled indication.

Here's the quick math on recent and projected revenue performance:

Metric	Value
Total Revenue (FY Ended Mar 31, 2025)	$3.71 million
Revenue Growth (FY Ended Mar 31, 2025 vs FY2024)	219.67%
Revenue (Quarter Ended Sep 30, 2025)	$1.82 million
Revenue Growth (Qtr Ended Sep 30, 2025 vs Qtr Sep 30, 2024)	128%
FY 2026 Revenue Guidance (Low End)	$12 million
FY 2026 Revenue Guidance (High End)	$16 million
Projected Revenue (Quarter Ending June 30, 2025)	At least $1.7 million

The expansion of the commercial footprint is also tracked through key operational metrics:

• Number of U.S. hospitals adopting LungFit PH: Over 45.
• Number of countries with distribution network expansion (as of Sep 30, 2025): 35.
• Combined population covered by international markets: 2.8 billion people.
• Anticipated launch of second-generation system: Prior to end of calendar 2026.

The company is actively pursuing regulatory milestones that will directly impact future revenue realization, such as the FDA review for the cardiac surgery indication.

Finance: draft 13-week cash view by Friday