Beyond Air, Inc.
XAIR Healthcare Medical Devices
Beyond Air, Inc.’s revenue for fiscal 2026 (year ended March 2026) was $7.7 million, up 107.3% from fiscal 2025. In the quarter to June 2026, revenue was flat, EPS grew 64.1%, free cash flow fell 9.10% and total debt rose 127.3%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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Beyond Air, Inc. (XAIR) Piotroski F-score
Beyond Air, Inc.'s Piotroski F-score for fiscal 2026 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 4 in fiscal 2021.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2026 | 5 | 1.00 |
| FY2021 | 4 | — |
How fiscal 2026’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (101.61%) | (107.16%) | Fail | 0 |
| Positive operating cash flow | (18.14m) | (38.22m) | Fail | 0 |
| Rising return on assets | (101.61%) | (107.16%) | Pass | 1 |
| Cash flow above net income | 15.11m | 8.41m | Pass | 1 |
| Falling long-term leverage | 0.66 | 0.21 | Fail | 0 |
| Rising current ratio | 3.80 | 3.20 | Pass | 1 |
| No new shares issued | 415,100 | 169,300 | Fail | 0 |
| Rising gross margin | 3.28% | (44.89%) | Pass | 1 |
| Rising asset turnover | 0.23 | 0.09 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| XAIR Beyond Air, Inc. | 5 |
| NXL Nexalin Technology, Inc. compare | 5 |
| IVF INVO Fertility, Inc compare | 4 |
| BIOLQ Biolase, Inc. compare | 3 |
| VJET Flyte Aviation, Inc. compare | 3 |
| AFIB Acutus Medical, Inc. compare | 3 |
| NUWE Nuwellis, Inc. compare | 3 |
| NUVOQ Holdco Nuvo Group D.G Ltd. compare | — |
| ADGM Adagio Medical Holdings, Inc. compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover