Beyond Air Posts No Revenue, Expands Ventures Amidst Losses

TL;DR

**XAIR is a speculative bet on future medical breakthroughs, currently burning cash with zero revenue.**

AI Summary

Beyond Air, Inc. reported no revenue for the quarter ended June 30, 2025, consistent with the prior year's quarter. The company's net loss for the three months ended June 30, 2025, was not explicitly stated in the provided data, but the context of 'Retained Earnings' decreasing suggests continued losses. Key business changes include the establishment of Beyond Cancer Ltd. on November 4, 2021, and NeuroNOS Ltd. on March 24, 2025, indicating a strategic focus on new therapeutic areas. The company's financial position shows a decrease in 'Retained Earnings' from March 31, 2025, to June 30, 2025, reflecting ongoing operational expenses without corresponding revenue. There were no specific risks or strategic outlook details provided in the excerpt, but the lack of revenue and reliance on capital raises for new ventures like NeuroNOS Ltd. imply significant financial risk. The company continues to operate in the surgical and medical instruments and apparatus sector, with a focus on developing novel therapies.

Why It Matters

Beyond Air's continued lack of revenue and expansion into new ventures like NeuroNOS Ltd. signals a high-risk, high-reward profile for investors, relying heavily on future product commercialization. For employees, this indicates a focus on R&D and potential long-term growth, but also job insecurity if clinical trials fail. Customers and the broader market could benefit from innovative medical solutions if these ventures succeed, potentially disrupting existing treatments in the surgical and medical instruments sector. The company's strategy to establish new entities like Beyond Cancer Ltd. and NeuroNOS Ltd. suggests an aggressive pursuit of market share in specialized therapeutic areas, competing with established pharmaceutical and medical device companies.

Risk Assessment

Risk Level: high — The company reported no revenue for the quarter ended June 30, 2025, and the 'Retained Earnings' balance decreased from March 31, 2025, to June 30, 2025, indicating ongoing operational losses. This lack of revenue combined with the establishment of new ventures like NeuroNOS Ltd. suggests significant capital expenditure without immediate returns, posing a high financial risk.

Analyst Insight

Investors should approach XAIR with extreme caution, recognizing it as a highly speculative investment. Only those with a high-risk tolerance and a long-term horizon should consider a position, understanding that the company's success hinges entirely on the future commercialization of its pipeline products.

Financial Highlights

revenue

$0

revenue Growth

0.0%

Revenue Breakdown

Key Numbers

• $0 — Revenue (for the quarter ended June 30, 2025, indicating no sales)
• 2025-06-30 — Period End Date (the end of the reported fiscal quarter)
• 2025-08-12 — Filing Date (when the 10-Q was filed with the SEC)
• 2021-11-04 — Establishment Date (Beyond Cancer Ltd. was established)
• 2025-03-24 — Establishment Date (NeuroNOS Ltd. was established)

Key Players & Entities

• Beyond Air, Inc. (company) — filer of the 10-Q
• Beyond Cancer Ltd. (company) — entity established on November 4, 2021
• NeuroNOS Ltd. (company) — entity established on March 24, 2025
• SEC (regulator) — recipient of the 10-Q filing
• Bloomberg (company) — publisher of this analysis

FAQ

Risk Factors

• Lack of Revenue and Reliance on Capital [high — financial]: The company reported $0 revenue for the quarter ended June 30, 2025. This lack of revenue generation, coupled with the establishment of new ventures like NeuroNOS Ltd. on March 24, 2025, indicates a significant reliance on external capital for operations and growth, posing a substantial financial risk.
• Development Stage and New Ventures [medium — operational]: Beyond Air is focused on developing novel therapies, with recent strategic initiatives including the establishment of Beyond Cancer Ltd. (November 4, 2021) and NeuroNOS Ltd. (March 24, 2025). The company's operational success is contingent on the successful development and commercialization of these new ventures, which carries inherent development and market adoption risks.

Industry Context

Beyond Air, Inc. operates within the Surgical & Medical Instruments & Apparatus sector. This industry is characterized by innovation in medical technology, stringent regulatory approvals, and competition from established players and emerging biotech firms. Companies in this space often rely on significant R&D investment and capital raises to bring novel therapies and devices to market.

Regulatory Implications

As a company developing medical therapies, Beyond Air is subject to rigorous regulatory oversight from bodies like the FDA. The success of its ventures, such as Beyond Cancer Ltd. and NeuroNOS Ltd., will depend on navigating complex clinical trial processes and obtaining necessary regulatory approvals, which can be lengthy and costly.

What Investors Should Do

1. Monitor cash burn and future capital raises.
2. Track progress of Beyond Cancer Ltd. and NeuroNOS Ltd.
3. Analyze the company's long-term strategy for revenue generation.

Key Dates

• 2025-06-30: Quarter End Date — Marks the end of the reporting period for the 10-Q filing.
• 2025-08-12: 10-Q Filing Date — The date the company officially submitted its quarterly report to the SEC.
• 2025-03-24: Establishment of NeuroNOS Ltd. — Indicates a strategic expansion into new therapeutic areas, requiring significant investment and development.
• 2021-11-04: Establishment of Beyond Cancer Ltd. — Represents an earlier strategic move into a new therapeutic focus area.
• 2024-04-01: Start of Prior Year Quarter — Provides a comparative baseline for revenue and other financial metrics.
• 2025-04-01: Start of Current Quarter — Marks the beginning of the reporting period for the current 10-Q.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance. (This document is the source of the financial information analyzed.)

Retained Earnings

The cumulative amount of net income that a company has retained over time, rather than distributing to shareholders as dividends. (A decrease in retained earnings suggests the company has incurred net losses during the period.)

SIC Code 3841

Standard Industrial Classification code for Surgical & Medical Instruments & Apparatus. (Classifies Beyond Air, Inc. within the medical device industry.)

NeuroNOS Ltd.

A newly established subsidiary of Beyond Air, Inc., indicating a focus on a specific therapeutic area. (Represents a strategic initiative and potential future revenue driver, but also a source of investment and risk.)

Year-Over-Year Comparison

For the quarter ended June 30, 2025, Beyond Air, Inc. reported $0 in revenue, mirroring the performance of the same period in the prior year. The company's strategic focus has expanded with the establishment of NeuroNOS Ltd. on March 24, 2025, indicating ongoing investment in new ventures. The decrease in Retained Earnings suggests continued net losses, a trend likely consistent with the prior year's reporting period, given the lack of revenue.

Key Financial Figures

• $0.0001 — h registered: Common Stock, par value $0.0001 per share XAIR The Nasdaq Stock Mar

Filing Documents

• form10-q.htm (10-Q) — 1225KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• 0001641172-25-023243.txt ( ) — 7466KB
• xair-20250630.xsd (EX-101.SCH) — 46KB
• xair-20250630_cal.xml (EX-101.CAL) — 69KB
• xair-20250630_def.xml (EX-101.DEF) — 248KB
• xair-20250630_lab.xml (EX-101.LAB) — 453KB
• xair-20250630_pre.xml (EX-101.PRE) — 392KB
• form10-q_htm.xml (XML) — 1403KB

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 23

Quantitative and Qualitative Disclosures About Market Risk

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk 33

Controls and Procedures

ITEM 4. Controls and Procedures 33

OTHER INFORMATION

PART II OTHER INFORMATION 34

Legal Proceedings

ITEM 1. Legal Proceedings 34

Risk Factors

ITEM 1A. Risk Factors 34

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 34

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 34

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 34

Other Information

ITEM 5. Other Information 34

Exhibits

ITEM 6. Exhibits 35

SIGNATURES

SIGNATURES 36 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– 22 3 BEYOND AIR, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) June 30, 2025 March 31, 2025 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 4,976 $ 4,665 Marketable securities 1,487 2,252 Restricted cash 163 231 Accounts receivable, net 804 710 Inventory, net 2,433 2,417 Other current assets and prepaid expenses 5,126 5,743 Total current assets 14,989 16,018 Licensed right to use technology 1,171 1,222 Right-of-use lease assets 1,654 1,706 Property and equipment, net 10,188 11,013 Other assets 112 103 TOTAL ASSETS $ 28,114 $ 30,062 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 1,242 $ 1,950 Accrued expenses and other current liabilities 2,737 2,045 Operating lease liability, current portion 414 396 Loans payable, current portion 233 609 Total current liabilities 4,626 5,000 Operating lease liability, net 1,419 1,486 Long-term debt, net 9,621 9,197 Warrant liability 21 38 Other long-term liabilities 2,019 - Total liabilities 17,706 15,721 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, 4,693,284 and 4,128,539 shares issued and outstanding as of June 30, 2025 and March 31, 2025, respectively (1) - - Treasury stock ( 25 ) ( 25 ) Additional paid-i

View Full Filing

View this 10-Q filing on SEC EDGAR