Beyond Air, Inc. (NASDAQ:XAIR) Q2 2024 Earnings Conference Call November 13, 2023 4:30 PM ET

Company Participants

Edward Barger - Head of Investor Relations

Steve Lisi - Chairman and Chief Executive Officer

Duncan Fatkin - Chief Commercial Officer

Douglas Larson - Chief Financial Officer

Conference Call Participants

Jeremy Jacoby - Truist Securities

Marie Thibault - BTIG

Matt Kaplan - Ladenburg Thalmann

Operator

Good afternoon and welcome everyone to the Beyond Air Financial Results Call for the Fiscal Quarter ended September 30, 2023. At this time, participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

And now, I would like to turn the call over to Edward Barger, Head of Investor Relations at Beyond Air. Please go ahead.

Edward Barger

Thank you, operator. Good afternoon, everyone, and thank you for joining us. Today after market close, we issued a press release announcing the fiscal second quarter 2024 operational highlights and financial results. A copy of this press release can be found on our website, www.beyondair.net under the News & Events section.

Before we begin, I would like to remind everyone that we will be making comments and various remarks about future expectations, plans and prospects, which constitute forward-looking statements for the purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. Beyond Air cautions that these forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those indicated. We encourage everyone to review the company's filings with the SEC, including, without limitation, the company's most recent Form 10-K and Form 10-Q, which identifies specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Additionally, this conference call is being recorded and will be available for audio rebroadcast on our website, www.beyondair.net. Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, November 13, 2023. Beyond Air undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this call.

Joining me today on the call are Steve Lisi, Chairman and Chief Executive Officer; Duncan Fatkin, Chief Commercial Officer; and Douglas Larson, Chief Financial Officer.

And with that, I'll turn the call over to Steve Lisi. Steve?

Steve Lisi

Thanks, Ed, and good afternoon to everyone joining us today. I'll start today's call by highlighting the revenue guidance we announced earlier today in our quarterly press release. For the fiscal year ending March 31, 2025, we anticipate $12 million to $16 million in revenues. The impetus for providing guidance at this time is threefold. First is the great work done by our commercial and supply chain teams to provide hospitals with confidence in LungFit PH and our support for users of the system. Second, the Vizient contract we announced in October, and third, the FDA approval of an update to our software which was granted in September. Our entire fleet of systems will be updated by the end of January with production of new machines ramping up significantly as well to meet anticipated demand.