Beyond Air Files 10-Q for Period Ending Dec 31, 2024
Ticker: XAIR · Form: 10-Q · Filed: Feb 10, 2025 · CIK: 1641631
| Field | Detail |
|---|---|
| Company | Beyond Air, Inc. (XAIR) |
| Form Type | 10-Q |
| Filed Date | Feb 10, 2025 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001, $11,500,000, $0.3793 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, medical-devices
TL;DR
Beyond Air (XAIR) filed its Q3 10-Q. Financials are in.
AI Summary
Beyond Air, Inc. filed its 10-Q for the period ending December 31, 2024. The company, formerly known as AIT Therapeutics, Inc. and KokiCare, Inc., is incorporated in Delaware and operates in the Surgical & Medical Instruments & Apparatus industry. Their fiscal year ends on March 31st, and their headquarters are located in Garden City, NY.
Why It Matters
This filing provides investors with an update on Beyond Air's financial performance and operational status for the third quarter of their fiscal year, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information which can be complex and subject to interpretation, impacting investment decisions.
Key Players & Entities
- Beyond Air, Inc. (company) — Filer
- AIT Therapeutics, Inc. (company) — Former Company Name
- KokiCare, Inc. (company) — Former Company Name
- 20241231 (date) — Period of Report
- 20250210 (date) — Filing Date
- Garden City, NY (location) — Business Address
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20241231, meaning the filing covers the period up to December 31, 2024.
When was this 10-Q filed with the SEC?
The filing date is 20250210.
What industry does Beyond Air, Inc. operate in?
Beyond Air, Inc. operates in the SURGICAL & MEDICAL INSTRUMENTS & APPARATUS industry, with SIC code 3841.
What were Beyond Air's former company names?
Beyond Air, Inc. was formerly known as AIT Therapeutics, Inc. (name change 20170117) and KokiCare, Inc. (name change 20150507).
Where is Beyond Air, Inc. headquartered?
Beyond Air, Inc.'s business address is located at 900 Stewart Avenue, Suite 301, Garden City, NY 11530.
Filing Stats: 4,736 words · 19 min read · ~16 pages · Grade level 18.6 · Accepted 2025-02-10 17:15:26
Key Financial Figures
- $0.0001 — h registered: Common Stock, par value $0.0001 per share XAIR The Nasdaq Stock Mar
- $11,500,000 — expected terms: (i) principal amount of $11,500,000; (ii) ten-year term; (iii) interest of
- $0.3793 — 's common stock at an exercise price of $0.3793 per share, in an aggregate amount equal
Filing Documents
- form10-q.htm (10-Q) — 1430KB
- ex31-1.htm (EX-31.1) — 10KB
- ex31-2.htm (EX-31.2) — 10KB
- ex32-1.htm (EX-32.1) — 5KB
- ex32-2.htm (EX-32.2) — 5KB
- 0001493152-25-005678.txt ( ) — 8145KB
- xair-20241231.xsd (EX-101.SCH) — 53KB
- xair-20241231_cal.xml (EX-101.CAL) — 74KB
- xair-20241231_def.xml (EX-101.DEF) — 312KB
- xair-20241231_lab.xml (EX-101.LAB) — 506KB
- xair-20241231_pre.xml (EX-101.PRE) — 423KB
- form10-q_htm.xml (XML) — 1412KB
FINANCIAL INFORMATION
PART I FINANCIAL INFORMATION 3
Condensed Consolidated Financial Statements (Unaudited)
ITEM 1. Condensed Consolidated Financial Statements (Unaudited) 3
Management's Discussion and Analysis of Financial Condition and Results of Operations
ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 27
Quantitative and Qualitative Disclosures About Market Risk
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 37
Controls and Procedures
ITEM 4. Controls and Procedures 37
OTHER INFORMATION
PART II OTHER INFORMATION 38
Legal Proceedings
ITEM 1. Legal Proceedings 38
Risk Factors
ITEM 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Defaults Upon Senior Securities
ITEM 3. Defaults Upon Senior Securities 38
Mine Safety Disclosures
ITEM 4. Mine Safety Disclosures 38
Other Information
ITEM 5. Other Information 38
Exhibits
ITEM 6. Exhibits 39
SIGNATURES
SIGNATURES 40 2 PART I FINANCIAL INFORMATION ITEM 1. Financial Statements. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) INDEX Page Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations and Comprehensive Loss 5 Condensed Consolidated Statements of Changes in Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9– 26 3 BEYOND AIR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (amounts in thousands, except share and per share data) December 31, 2024 March 31, 2024 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 4,601 $ 11,378 Marketable securities 6,349 23,090 Restricted cash 232 230 Accounts receivable, net 639 319 Inventory, net 2,379 2,127 Other current assets and prepaid expenses 5,144 6,792 Total current assets 19,344 43,936 Licensed right to use technology 1,274 1,427 Right-of-use lease assets 1,775 2,121 Property and equipment, net 11,652 9,364 Other assets 100 113 TOTAL ASSETS $ 34,144 $ 56,961 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 2,357 $ 1,948 Accrued expenses and other current liabilities 2,631 8,402 Operating lease liability, current portion 381 418 Loans payable, current portion 60 800 Total current liabilities 5,430 11,567 Operating lease liability, net 1,567 1,898 Long-term debt, net - 14,721 Long-term liability, related party 8,710 - Warrant liability 56 275 Derivative liability - 1,314 Total liabilities 15,763 29,775 Stockholders' equity 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, 74,328,645 and 45,900,821 shares issued and outstanding as of December 31, 2024 and March 31, 2024, respe