Beyond Air, Inc.

Listed Company

XAIRCIK 0001641631NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Mar 31

Period

FY 2025

Revenue

$3.71M

Net Income

$-46.63M

Total Assets

$30.06M

Equity

$13.58M

Shares Out

10.53M

Op. Cash Flow

$-38.20M

Business

Beyond Air, Inc. develops and commercializes nitric oxide (NO) generators and delivery systems (the LungFit® platform) and pursues related biopharmaceutical programs including ultra-high concentration NO (UNO) for solid tumors and selective nNOS inhibitors. Its main products and candidates include the FDA‑approved LungFit® PH for PPHN, LungFit® PRO and GO systems for viral and NTM lung infections, the UNO intratumoral delivery program (Beyond Cancer) and NeuroNOS’s nNOS inhibitor program. The company operates device commercialization, clinical development and affiliate oncology/neurology divisions. It markets LungFit® PH directly in the U.S., holds CE mark and other international approvals, and uses distribution partners and third‑party logistics and contract manufacturers for global sales and supply.

Summary from filing dated 2025-06-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Revenues	4	1	—	—	873,000
Cost of revenues	−5	−2	−555,000	—	—
Gross loss	−2	−1	−555,000	—	—
Research and development	−17	−24	−17	−12	−13
Selling, general and administrative	−26	−37	—	—	—
Total operating expenses	−43	−62	−52	−41	—
Loss from operations	−45	−63	−52	−41	−22
Dividend/investment income	705,000	2	—	—	—
Change in fair value of warrant liability	237,000	611,000	—	—	—
Change in fair value of derivative liability	1	48,000	—	—	—
Estimated contingent loss	—	−598,000	−8	−2	—
Other income/(expense)	9,000	−169,000	—	—	—
Loss on extinguishment of debt	−2	—	—	—	—
Loss on disposal/impairment of fixed assets	−738,000	—	—	—	—
Interest and finance expense	−3	−3	—	—	—
Foreign exchange loss	−3,000	−6,000	−105,000	−144,000	−37,000
Total other income/(expense)	−4	−1	−7	−3	−661,000
Loss before income taxes	−48	−64	−59	−44	−23
Provision for income taxes	—	—	—	—	—
Net loss	−48	−64	−59	−44	−23
Less: net loss attributable to non-controlling interest	−2	−4	−4	−882,000	—
Net loss attributable to Beyond Air, Inc.	−47	−60	−56	−43	−23
Foreign currency translation loss	−45,000	−68,000	−43,000	96,000	—
Comprehensive loss attributable to Beyond Air, Inc.	−47	−60	−56	−43	−23
Net basic loss per share attributable to Beyond Air, Inc.	−0.69	−1.82	−1.86	−1.68	−1.27
Net diluted loss per share attributable to Beyond Air, Inc.	−0.69	−1.82	−1.86	—	—
Weighted average number of shares, outstanding basic	68	33	30	26	18,005
Weighted average number of shares, outstanding diluted	68	33	30	—	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Cash and cash equivalents	5	11	29	80	35
Marketable securities	2	23	17	—	—
Restricted cash	231,000	230,000	8	10	637,000
Accounts receivable	710,000	319,000	—	—	—
Inventory, net	2	2	1	350,000	—
Other current assets and prepaid expenses	6	7	4	2	2
Total current assets	16	44	59	93	37
Licensed right to use technology	1	1	2	—	—
Right-of-use lease assets	2	2	2	2	2
Property and equipment, net	11	9	5	2	929,000
Other assets	103,000	113,000	212,000	207,000	138,000
TOTAL ASSETS	30	57	69	99	41
Accounts payable	2	2	2	1	1
Accrued expenses and other current liabilities	2	8	—	—	—
Operating lease liability, current portion	396,000	418,000	376,000	281,000	113,000
Loans payable, current portion	609,000	800,000	775,000	927,000	557,000
Total current liabilities	5	12	20	11	4
Operating lease liability, net	1	2	2	2	2
Long-term debt, net	9	15	120,000	200,000	4
Warrant liability	38,000	275,000	—	—	—
Derivative liability	—	1	—	—	—
Total liabilities	16	30	27	21	10
Preferred Stock, $0.0001 par value per share: 10,000,000 shares authorized, 0 shares issued and outstanding	—	—	—	—	—
Common Stock, $0.0001 par value per share: 500,000,000 shares authorized, 82,570,726 and 45,900,821 shares issued and outstanding as of March 31, 2025 and 2024, respectively	8,000	5,000	3,000	3,000	2,000
Treasury stock	−25,000	−25,000	−25,000	−25,000	−25,000
Additional paid-in capital	300	265	217	196	111
Accumulated deficit	−286	−240	−179	−124	−80
Accumulated other comprehensive loss	−60,000	−15,000	53,000	96,000	—
Total stockholders equity attributable to Beyond Air, Inc.	14	25	38	73	30
Non-controlling interest	758,000	2	4	6	—
Total equity	14	27	42	78	30
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	30	57	69	99	41

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-03-31	FY 2024 2024-03-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Depreciation	3	2	634,000	—	—
Stock-based compensation	9	21	20	8	5
Amortization of debt discount and accretion of debt issuance costs	1	1	—	528,000	—
Amortization of licensed right to use technology	205,000	205,000	205,000	38,000	—
Amortization of operating lease assets	367,000	372,000	331,000	236,000	38,000
Change in fair value of warrant liability	−237,000	−611,000	—	—	—
Change in fair value of derivative liability	−1	−48,000	—	—	—
Unrealized (gain)/loss on marketable securities	60,000	123,000	−12,000	—	—
Provision for inventory losses	177,000	—	49,000	—	—
Impairment of fixed assets	505,000	—	—	—	—
Loss on disposal of fixed assets	334,000	15,000	—	—	—
Paid in kind interest	696,000	—	—	—	—
Grant receivable	—	420,000	−98,000	—	—
Inventory	−466,000	−998,000	−781,000	—	—
Accounts receivable	−390,000	−319,000	—	—	—
Other current assets and prepaid expenses	1	−2	918,000	−816,000	−518,000
Accounts payable	399,000	−467,000	838,000	−327,000	—
Accrued expenses	−6	−13	5	5	707,000
Operating lease liabilities	−385,000	−381,000	−275,000	—	—
Net cash used in operating activities	−38	−56	−33	−23	−20
Purchase of marketable securities	−31	−129	−36	—	—
Proceeds from sale of marketable securities	52	122	19	—	—
Security deposits made on operating leases	10,000	—	1,000	−69,000	—
Purchase of property and equipment	−6	−6	−4	−1	−890,000
Net cash provided by (used in) investing activities	15	−12	−21	−1	−890,000
Proceeds from issuance of common stock through at the market offerings	2	13	4	36	12
Proceeds from the sale of common stock of NeuroNos	2	—	—	—	—
Proceeds from issuance of common stock and pre-funded warrants through securities purchase agreement II	19	—	—	25	—
Proceeds from issuance of common stock in connection with a purchase agreement	—	15	—	11	12
Proceeds from issuance of common stock through exercise of options	—	217,000	—	251,000	1,000
Proceeds from issuance of common stock through exercise of warrants	365,000	—	—	6	7
Proceeds from long term loan	11	16	—	—	—
Payment of loan	−18	−835,000	−1	−658,000	−404,000
Net cash provided by financing activities	17	43	3	79	30
Effect of exchange rate changes on cash and cash equivalents	−45,000	−77,000	−43,000	96,000	—
Decrease in cash, cash equivalents and restricted cash	−7	−25	−51	55	10
Debt discount	3	5	—	—	—
End of term loan liability	—	−613,000	—	—	—
Warrant liability	—	−885,000	—	—	—
Derivative liability	—	−1	—	—	—
Short term finance liability	693,000	740,000	—	—	—
Fixed assets recorded in accounts payable and accrued expenses	396,000	404,000	—	—	—
Interest paid	1	2	36,000	340,000	508,000
Income taxes paid	—	—	—	—	—

Filings

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