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Beyond Air (XAIR) Financials

Beyond Air logo
$7.49 -0.85 (-10.19%)
Closing price 07/13/2026 04:00 PM Eastern
Extended Trading
$7.39 -0.10 (-1.34%)
As of 04:41 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Beyond Air

Annual Income Statements for Beyond Air

This table shows Beyond Air's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 12/31/2016 12/31/2017 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.67 -23 -6.56 -20 -23 -43 -56 -60 -47 -33
Consolidated Net Income / (Loss)		 -3.72 -18 -6.56 -20 -23 -44 -59 -64 -48 -34
Net Income / (Loss) Continuing Operations		 3.67 -23 -6.59 -20 -23 -44 -59 -64 -48 -34
Total Pre-Tax Income 		3.69 -16 -6.59 -20 -23 -44 -59 -64 -48 -34
Total Operating Income		 2.33 -11 -3.06 -18 -22 -41 -52 -63 -45 -29
Total Gross Profit		 0.00 0.00 7.72 1.39 0.87 0.00 -0.56 -1.31 -1.66 0.25
Total Revenue		 0.00 0.00 7.72 1.39 0.87 0.00 0.00 1.16 3.71 7.68
Operating Revenue		 - 0.00 7.72 1.39 0.87 0.00 0.00 1.16 3.71 7.68
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.56 2.47 5.37 7.43
Operating Cost of Revenue		 - - - - - 0.00 0.56 2.47 5.37 7.43
Total Operating Expenses		 -2.33 11 11 20 23 41 52 62 43 29
Selling, General & Admin Expense		 -1.04 6.63 6.85 8.88 10 18 35 37 26 19
Research & Development Expense		 -0.67 4.44 3.93 11 13 12 17 24 17 10
Total Other Income / (Expense), net		 1.36 -4.88 -3.50 -1.95 -0.66 -3.35 -7.34 -1.29 -3.94 -5.29
Interest Expense		 -1.36 0.01 0.00 0.03 0.64 0.78 0.03 2.91 5.47 3.68
Interest & Investment Income		 - 0.00 0.09 0.12 0.02 0.00 0.66 1.74 0.71 0.30
Other Income / (Expense), net		 - -4.86 -3.59 -2.04 -0.04 -2.58 -7.97 -0.11 0.82 -1.91
Income Tax Expense		 0.03 0.00 0.00 -0.15 0.00 0.00 0.00 0.00 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest		 - - - - 0.00 -0.88 -3.59 -4.05 -1.85 -1.09
Basic Earnings per Share		 ($2.69) ($3.01) ($0.77) ($1.78) ($1.27) ($1.68) ($1.86) ($1.82) ($13.77) ($4.01)
Weighted Average Basic Shares Outstanding		 1.45M 6.00M 8.50M 11.51M 18.01M 25.67M 29.97M 33.16M 3.39M 8.30M
Diluted Earnings per Share		 ($2.69) ($3.01) ($0.77) ($1.78) - - ($1.86) ($1.82) ($13.77) ($4.01)
Weighted Average Diluted Shares Outstanding		 1.45M 6.00M 8.50M 11.51M 18.01M 29.89M 29.97M 33.16M 3.39M 8.30M
Weighted Average Basic & Diluted Shares Outstanding		 1.45M 6.00M 8.50M 11.51M 18.01M 29.89M 31.68M 45.90M 92.79M 14.41M

Quarterly Income Statements for Beyond Air

This table shows Beyond Air's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -16 -16 -16 -12 -13 -13 -8.03 -7.69 -7.94 -7.34 -10
Consolidated Net Income / (Loss)		 -17 -17 -17 -13 -14 -13 -8.06 -8.08 -8.26 -7.63 -10
Net Income / (Loss) Continuing Operations		 -17 -17 -17 -13 -14 -13 -8.06 -8.08 -8.26 -7.63 -10
Total Pre-Tax Income 		-17 -17 -17 -13 -14 -13 -8.06 -8.08 -8.26 -7.63 -10
Total Operating Income		 -18 -17 -15 -14 -13 -11 -7.17 -7.62 -7.66 -6.60 -7.17
Total Gross Profit		 -0.19 -0.36 -0.43 -0.33 -1.08 -0.22 -0.03 0.16 -0.30 0.30 0.09
Total Revenue		 0.24 0.39 -0.15 0.68 0.80 1.07 1.15 1.76 1.82 2.19 1.91
Operating Revenue		 0.24 0.39 -0.15 0.68 0.80 1.07 1.15 1.76 1.82 2.19 1.91
Total Cost of Revenue		 0.43 0.75 0.27 1.02 1.88 1.29 1.18 1.60 2.12 1.89 1.81
Operating Cost of Revenue		 0.43 0.75 0.27 1.02 1.88 1.29 1.18 1.60 2.12 1.89 1.81
Total Operating Expenses		 17 17 15 13 12 11 7.08 7.78 7.41 6.90 7.21
Selling, General & Admin Expense		 10 9.77 10 7.24 7.16 7.73 3.88 4.69 4.91 4.47 4.99
Research & Development Expense		 7.13 6.84 4.39 6.01 4.59 3.01 3.26 3.09 2.45 2.43 2.28
Total Other Income / (Expense), net		 0.11 -0.30 -1.63 0.53 -1.20 -2.32 -0.95 -0.45 -0.55 -1.03 -3.26
Interest Expense		 0.91 0.92 0.12 0.96 1.55 2.46 0.49 0.55 0.64 1.09 1.41
Interest & Investment Income		 0.64 0.39 - 0.36 0.15 0.13 0.07 0.03 0.06 0.10 0.11
Other Income / (Expense), net		 0.38 0.24 -2.89 1.13 0.20 0.01 -0.53 0.07 0.03 -0.05 -1.96
Net Income / (Loss) Attributable to Noncontrolling Interest		 -1.21 -1.04 -0.96 -0.85 -0.67 -0.30 -0.03 -0.39 -0.32 -0.29 -0.09
Basic Earnings per Share		 ($0.51) ($0.50) ($0.54) ($5.32) ($5.67) ($2.96) ($2.37) ($1.53) ($1.25) ($0.85) ($1.24)
Weighted Average Basic Shares Outstanding		 31.80M 32.46M 33.16M 2.30M 2.36M 4.40M 3.39M 5.01M 6.36M 8.62M 8.30M
Diluted Earnings per Share		 ($0.51) ($0.50) ($0.54) ($5.32) ($5.67) ($2.96) ($2.37) ($1.53) ($1.25) ($0.85) ($1.24)
Weighted Average Diluted Shares Outstanding		 31.80M 32.46M 33.16M 2.30M 2.36M 4.40M 3.39M 5.01M 6.36M 8.62M 8.30M
Basic & Diluted Earnings per Share		 - - - - - - ($2.37) - - - ($1.24)
Weighted Average Basic & Diluted Shares Outstanding		 31.97M 36.04M 45.90M 46.52M 72.19M 88.28M 92.79M 5.23M 8.01M 10.53M 14.41M

Annual Cash Flow Statements for Beyond Air

This table details how cash moves in and out of Beyond Air's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 12/31/2016 12/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -0.12 1.20 -6.40 0.62 20 9.80 55 -51 -25 -6.71 7.47
Net Cash From Operating Activities		 -0.69 -7.12 -8.69 1.34 -15 -20 -23 -33 -56 -38 -18
Net Cash From Continuing Operating Activities		 -0.69 -7.15 -8.74 1.34 -19 -20 -23 -33 -56 -38 -18
Net Income / (Loss) Continuing Operations		 -3.72 -18 -11 -6.56 -20 -23 -44 -59 -64 -48 -34
Consolidated Net Income / (Loss)		 -3.72 -18 -11 -6.56 -20 -23 -44 -59 -64 -48 -34
Depreciation Expense		 0.03 0.04 - 0.06 0.16 0.21 0.31 0.63 1.78 3.00 3.05
Amortization Expense		 1.05 1.05 0.00 0.00 0.01 0.13 0.80 0.54 1.73 1.60 1.15
Non-Cash Adjustments To Reconcile Net Income		 0.97 10 1.37 5.70 1.47 4.97 7.83 20 22 12 9.64
Changes in Operating Assets and Liabilities, net		 0.98 -0.46 0.61 2.13 -1.13 -2.08 12 5.49 -17 -6.15 2.35
Net Cash From Investing Activities		 0.01 -1.14 -8.52 -1.79 4.42 -0.89 -1.45 -21 -12 15 -3.67
Net Cash From Continuing Investing Activities		 0.01 -1.14 -8.52 -1.79 4.42 -0.89 -1.45 -21 -12 15 -3.67
Purchase of Property, Plant & Equipment		 - -0.24 -0.22 -0.06 -0.04 -0.89 -1.38 -3.88 -5.75 -5.88 -1.03
Purchase of Investments		 0.00 -2.00 -8.30 -12 -37 - 0.00 -36 -129 -31 -4.05
Sale and/or Maturity of Investments		 0.00 1.40 0.00 10 42 - 0.00 19 122 52 1.40
Other Investing Activities, net		 - - - - - 0.00 -0.07 0.00 0.00 0.01 0.00
Net Cash From Financing Activities		 0.56 9.46 11 1.07 35 30 79 2.70 43 17 29
Net Cash From Continuing Financing Activities		 0.56 9.46 11 1.07 35 30 79 2.70 43 17 29
Repayment of Debt		 -0.43 -0.46 0.00 -0.03 -0.37 -0.40 -0.66 -1.01 -0.84 -18 -1.20
Issuance of Debt		 0.99 0.06 11 0.29 5.38 0.63 1.03 0.00 16 11 14
Issuance of Common Equity		 0.00 9.89 0.00 0.80 30 12 62 3.71 13 21 13
Other Financing Activities, net		 0.00 0.00 0.00 0.01 - 6.67 6.25 0.00 0.22 2.37 3.57
Effect of Exchange Rate Changes		 - - - - - 0.00 0.10 -0.04 -0.08 -0.05 0.19
Cash Interest Paid		 - - - 0.00 0.02 0.51 0.34 0.04 1.76 1.20 0.42
Cash Income Taxes Paid		 - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for Beyond Air

This table details how cash moves in and out of Beyond Air's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -16 -7.69 3.41 -7.22 24 -24 0.06 0.24 4.72 2.97 -0.47
Net Cash From Operating Activities		 -14 -14 -11 -10 -13 -7.73 -6.96 -4.53 -4.45 -4.22 -4.95
Net Cash From Continuing Operating Activities		 -14 -14 -11 -10 -13 -7.73 -6.96 -4.53 -4.45 -4.22 -4.95
Net Income / (Loss) Continuing Operations		 -17 -17 -15 -13 -14 -13 -8.06 -8.08 -8.26 -7.63 -10
Consolidated Net Income / (Loss)		 -17 -17 -15 -13 -14 -13 -8.06 -8.08 -8.26 -7.63 -10
Depreciation Expense		 0.37 0.50 0.59 0.69 0.78 0.74 0.79 0.75 0.77 0.75 0.78
Amortization Expense		 0.49 0.52 0.52 0.55 0.53 0.23 0.28 0.23 0.23 0.36 0.34
Non-Cash Adjustments To Reconcile Net Income		 6.31 6.17 2.38 3.47 4.21 3.03 1.11 1.94 2.40 2.03 3.27
Changes in Operating Assets and Liabilities, net		 -4.07 -3.76 0.34 -1.83 -4.84 1.60 -1.07 0.63 0.41 0.28 1.03
Net Cash From Investing Activities		 -1.77 0.85 -1.67 3.11 16 -6.94 2.58 0.58 0.24 -4.04 -0.45
Net Cash From Continuing Investing Activities		 -1.77 0.85 -1.67 3.11 16 -6.94 2.58 0.58 0.24 -4.04 -0.45
Purchase of Property, Plant & Equipment		 -1.68 -1.34 -1.93 -2.67 -1.18 -0.54 -1.50 -0.20 -0.25 -0.03 -0.55
Purchase of Investments		 -45 -19 -54 -15 -3.91 -12 - -0.00 - -4.01 -0.04
Sale and/or Maturity of Investments		 45 21 55 20 21 6.00 4.08 0.78 0.49 - 0.14
Net Cash From Financing Activities		 0.47 5.24 16 -0.26 22 -9.21 4.50 4.07 8.92 11 4.90
Net Cash From Continuing Financing Activities		 0.47 5.24 16 -0.26 22 -9.21 4.50 4.07 8.92 11 4.90
Repayment of Debt		 -0.22 -0.24 -0.10 -0.26 -5.46 -13 0.63 -0.38 -0.23 -1.00 0.40
Issuance of Common Equity		 0.90 5.47 1.40 0.00 20 -19 20 2.44 5.78 0.70 3.80
Other Financing Activities, net		 -0.22 - - - - - 2.37 - - -0.50 0.70
Effect of Exchange Rate Changes		 -0.06 0.04 -0.10 0.11 -0.13 0.04 -0.06 0.13 0.02 0.03 0.02
Cash Interest Paid		 0.08 0.83 0.56 0.56 0.55 0.00 0.09 0.10 0.10 0.11 0.12

Annual Balance Sheets for Beyond Air

This table presents Beyond Air's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 12/31/2016 12/31/2017 3/31/2018 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
Total Assets		 0.24 2.19 9.36 9.43 27 41 99 69 57 30 35
Total Current Assets		 0.09 1.92 9.10 8.69 27 37 93 59 44 16 25
Cash & Equivalents		 0.01 1.20 0.73 1.34 20 35 80 29 11 4.67 6.74
Restricted Cash		 0.00 0.01 0.01 0.02 5.64 0.64 9.99 7.61 0.23 0.23 5.62
Short-Term Investments		 0.00 0.61 8.30 6.54 - - 0.00 17 23 2.25 4.90
Accounts Receivable		 0.08 0.11 - - 0.00 0.43 0.32 0.00 0.32 0.71 1.09
Inventories, net		 - - - - - - 0.35 1.13 2.13 2.42 1.41
Prepaid Expenses		 - - 0.06 0.79 1.15 1.53 2.04 4.37 6.79 5.74 5.01
Plant, Property, & Equipment, net		 0.06 0.27 0.25 0.24 0.21 0.93 2.00 5.00 9.36 11 8.25
Total Noncurrent Assets		 0.09 0.00 0.00 0.50 0.61 2.37 4.26 4.34 3.66 3.03 2.37
Intangible Assets		 - - - - - - - 1.63 1.43 1.22 1.02
Other Noncurrent Operating Assets		 0.09 0.00 0.00 0.50 0.61 2.37 4.26 2.71 2.23 1.81 1.35
Total Liabilities & Shareholders' Equity		 0.24 2.19 9.36 9.43 27 41 99 69 57 30 35
Total Liabilities		 4.93 11 7.81 5.40 9.34 10 21 27 30 16 29
Total Current Liabilities		 2.04 1.40 2.13 5.40 4.87 3.80 11 20 12 5.00 6.51
Short-Term Debt		 0.42 0.03 0.03 0.26 0.34 0.56 0.93 0.78 0.80 0.61 0.40
Accounts Payable		 1.62 1.36 0.84 1.31 2.50 1.33 1.13 2.02 1.95 1.95 2.42
Accrued Expenses		 - - 1.26 1.57 1.10 1.81 8.37 17 8.40 2.05 3.37
Other Current Liabilities		 - - - 0.00 0.07 0.11 0.28 0.38 0.42 0.40 0.32
Total Noncurrent Liabilities		 2.90 9.17 5.68 0.00 4.47 6.26 10 6.94 18 11 23
Long-Term Debt		 2.90 0.00 - 0.00 4.34 4.47 8.20 0.12 15 9.20 22
Other Noncurrent Operating Liabilities		 0.00 9.17 5.68 0.00 0.13 1.79 2.08 6.82 3.21 1.49 1.02
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 - - - - 0.00 0.00
Total Equity & Noncontrolling Interests		 -4.70 -8.38 1.54 4.02 18 30 78 42 27 14 6.21
Total Preferred & Common Equity		 -4.70 -8.38 1.54 4.02 18 30 73 38 25 14 6.13
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -4.70 -8.38 1.54 4.02 18 30 73 38 25 14 6.13
Common Stock		 8.88 23 32 42 76 111 196 217 265 300 326
Retained Earnings		 -14 -32 -31 -38 -58 -80 -124 -179 -240 -286 -320
Treasury Stock		 0.00 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03
Accumulated Other Comprehensive Income / (Loss)		 0.00 0.00 -0.00 - - 0.00 0.10 0.05 -0.02 -0.06 0.13
Noncontrolling Interest		 - - - - - 0.00 5.51 4.11 2.14 0.76 0.08

Quarterly Balance Sheets for Beyond Air

This table presents Beyond Air's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 6/30/2025 9/30/2025 12/31/2025
Total Assets		 58 52 47 53 34 28 31 37
Total Current Assets		 47 39 31 38 19 15 19 26
Cash & Equivalents		 13 7.97 4.16 28 4.60 4.98 9.70 6.64
Restricted Cash		 5.23 0.23 0.23 0.23 0.23 0.16 0.16 6.19
Short-Term Investments		 25 23 17 0.00 6.35 1.49 1.00 5.02
Accounts Receivable		 0.21 0.29 0.48 0.56 0.64 0.80 0.89 1.15
Inventories, net		 1.57 1.53 2.39 2.53 2.38 2.43 2.23 1.76
Prepaid Expenses		 1.48 6.12 6.41 6.28 5.14 5.13 4.61 4.80
Plant, Property, & Equipment, net		 6.82 8.55 12 12 12 10 9.39 8.50
Total Noncurrent Assets		 4.05 3.92 3.51 3.33 3.15 2.94 2.99 2.71
Intangible Assets		 1.53 1.48 1.38 1.33 1.27 1.17 1.12 1.07
Other Noncurrent Operating Assets		 2.52 2.44 2.13 2.00 1.88 1.77 1.87 1.64
Total Liabilities & Shareholders' Equity		 58 52 47 53 34 28 31 37
Total Liabilities		 29 28 29 24 16 18 18 28
Total Current Liabilities		 12 12 12 6.60 5.43 4.63 4.38 4.99
Short-Term Debt		 0.28 0.13 0.54 0.26 0.06 0.23 0.00 0.00
Accounts Payable		 3.29 3.22 3.11 1.49 2.36 1.24 1.92 2.20
Accrued Expenses		 8.50 7.88 7.67 4.47 2.63 2.74 2.06 2.40
Other Current Liabilities		 0.39 0.41 0.43 0.38 0.38 0.41 0.41 0.39
Total Noncurrent Liabilities		 17 17 17 17 10 13 13 23
Long-Term Debt		 14 14 15 15 8.71 9.62 10 22
Other Noncurrent Operating Liabilities		 2.67 2.42 2.10 1.69 1.57 3.44 3.38 1.52
Total Equity & Noncontrolling Interests		 29 23 18 29 18 10 13 8.29
Total Preferred & Common Equity		 26 21 16 28 18 9.93 13 8.11
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 26 21 16 28 18 9.93 13 8.11
Common Stock		 235 247 268 293 296 304 315 317
Retained Earnings		 -210 -226 -252 -265 -278 -294 -302 -309
Treasury Stock		 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03 -0.03
Accumulated Other Comprehensive Income / (Loss)		 0.04 0.03 0.09 0.01 -0.05 0.07 0.09 0.11
Noncontrolling Interest		 3.09 2.66 1.57 1.17 0.74 0.48 0.36 0.18

Annual Metrics And Ratios for Beyond Air

This table displays calculated financial ratios and metrics derived from Beyond Air's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 12/31/2016 12/31/2017 12/31/2017 3/31/2019 3/31/2020 3/31/2021 3/31/2022 3/31/2023 3/31/2024 3/31/2025 3/31/2026
DEI Shares Outstanding		 0.00 6,097,254.00 0.00 8,598,657.00 14,384,014.00 20,486,527.00 29,831,400.00 30,091,307.00 - 88,278,647.00 10,529,344.00
DEI Adjusted Shares Outstanding		 0.00 304,863.00 0.00 429,933.00 719,201.00 1,024,326.00 1,491,570.00 1,504,565.00 - 4,413,932.00 10,529,344.00
DEI Earnings Per Adjusted Shares Outstanding		 0.00 -75.18 0.00 -15.25 -28.46 -22.33 -28.95 -37.10 - -10.56 -3.16
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% -82.00% -37.20% -100.00% 0.00% 0.00% 219.67% 107.26%
EBITDA Growth		 0.00% -535.65% 0.00% -159.45% -204.20% -9.47% -92.51% -39.56% -1.29% 34.38% 31.60%
EBIT Growth		 0.00% -782.84% 0.00% -160.03% -203.78% -10.25% -94.55% -38.67% -5.15% 30.74% 29.19%
NOPAT Growth		 0.00% -434.52% 0.00% -119.35% -493.16% -22.45% -83.26% -27.88% -21.03% 29.31% 34.79%
Net Income Growth		 0.00% -385.06% 0.00% 0.00% -204.07% -14.70% -92.61% -34.82% -8.24% 24.60% 29.18%
EPS Growth		 0.00% -11.90% 0.00% 0.00% -131.17% 0.00% 0.00% 0.00% 2.15% 24.60% 70.88%
Operating Cash Flow Growth		 0.00% -928.66% -22.11% 115.43% -1,237.17% -28.78% -17.80% -42.69% -69.69% 31.77% 52.53%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% -127.06% -35.71% -37.38% -13.34% -118.86% 36.57% 64.23%
Invested Capital Growth		 0.00% -629.81% 0.00% 51.63% 25.28% 108.38% -1,379.65% -265.42% 178.38% 105.69% -35.50%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -85.07% 64.46% -100.00% 0.00% -11.73% 22.56% 10.90%
EBITDA Q/Q Growth		 0.00% -351.41% 0.00% 0.00% -36.37% 1.90% -55.71% -2.61% 7.54% 13.68% -5.45%
EBIT Q/Q Growth		 0.00% -243.71% 0.00% 0.00% -36.15% 1.66% -54.12% -2.80% 6.09% 12.48% -4.86%
NOPAT Q/Q Growth		 0.00% -138.78% 0.00% 0.00% -93.57% 0.99% -60.83% 11.01% -1.51% 10.92% 0.01%
Net Income Q/Q Growth		 0.00% -4.39% 0.00% 0.00% -35.17% 0.16% -53.90% -0.83% 6.67% 11.81% -7.20%
EPS Q/Q Growth		 0.00% -116.55% 0.00% 0.00% -19.46% 0.00% 0.00% 0.00% 6.19% 11.81% -11.39%
Operating Cash Flow Q/Q Growth		 0.00% -27.34% 0.00% 114.07% -361.95% -3.75% -11.21% -1.66% -4.25% 8.97% 9.98%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -1.72% -49.40% 27.40% -18.79% 10.35% 14.57%
Invested Capital Q/Q Growth		 0.00% 4.10% 0.00% 0.00% 22.03% 122.50% -66.59% -244.80% 27.67% 6.30% -11.48%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 100.00% 100.00% 100.00% 0.00% 0.00% -112.77% -44.89% 3.28%
EBITDA Margin		 0.00% 0.00% 0.00% -85.17% -1,439.66% -2,509.39% 0.00% 0.00% -5,143.92% -1,055.84% -348.44%
Operating Margin		 0.00% 0.00% 0.00% -39.60% -1,305.08% -2,544.56% 0.00% 0.00% -5,436.24% -1,202.08% -378.23%
EBIT Margin		 0.00% 0.00% 0.00% -86.01% -1,451.83% -2,548.80% 0.00% 0.00% -5,446.07% -1,179.97% -403.14%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% -84.91% -1,434.61% -2,620.27% 0.00% 0.00% -5,547.45% -1,308.48% -447.12%
Tax Burden Percent		 -100.73% 113.16% -100.00% 99.54% 99.23% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 158.29% 100.09% 163.04% 99.17% 99.58% 102.80% 101.78% 98.96% 101.86% 110.89% 110.91%
Effective Tax Rate		 0.73% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -246.26% -145.09%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -32.73% -519.75%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 12.77% -189.05%
Return on Equity (ROE)		 158.19% 275.97% 528.00% -235.53% -180.33% -94.22% -81.09% -98.81% -185.79% -233.48% -334.13%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% -8,174.36% 0.00% 0.00% -760.05% -315.40% -101.93%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% -70.74% -109.50% -65.48% 0.00% 0.00% -100.42% -100.47% -94.60%
Return on Assets (ROA)		 0.00% 0.00% 0.00% -69.83% -108.20% -67.32% 0.00% 0.00% -102.29% -111.42% -104.92%
Return on Common Equity (ROCE)		 158.19% 275.97% 528.00% -235.53% -180.33% -94.22% -76.98% -90.90% -169.01% -217.20% -320.44%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% -1,168.50% 0.00% 0.00% 0.00% 0.00% 0.00% -256.69% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 2.32 -7.75 11 -2.14 -13 -16 -28 -36 -44 -31 -20
NOPAT Margin		 0.00% 0.00% 0.00% -27.72% -913.55% -1,781.19% 0.00% 0.00% -3,805.37% -841.45% -264.76%
Net Nonoperating Expense Percent (NNEP)		 182.58% 1,349.54% -323.11% -53.08% -50.96% -28.71% -27.96% -34.35% -56.48% -213.53% 374.67%
Return On Investment Capital (ROIC_SIMPLE)		 -167.22% 92.83% - -49.92% -55.78% -43.81% -32.63% -84.90% - -129.11% -71.97%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 212.77% 144.89% 96.72%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 88.72% 639.03% 1,199.08% 0.00% 0.00% 3,221.48% 702.21% 248.14%
R&D to Revenue		 0.00% 0.00% 0.00% 50.87% 766.05% 1,445.36% 0.00% 0.00% 2,102.07% 454.98% 133.36%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 139.60% 1,405.08% 2,644.44% 0.00% 0.00% 5,323.55% 1,157.19% 381.51%
Earnings before Interest and Taxes (EBIT)		 2.33 -16 11 -6.64 -20 -22 -43 -60 -63 -44 -31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3.41 -15 11 -6.58 -20 -22 -42 -59 -60 -39 -27
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 7.69 6.36 3.70 2.74 5.36 2.50 1.77 1.19
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 7.69 6.36 3.70 2.74 5.60 2.65 1.95 1.42
Price to Revenue (P/Rev)		 0.00 0.00 0.00 4.01 82.78 129.07 0.00 0.00 54.11 6.49 0.95
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 364.77 0.00 0.00 5.51 1.61 1.10
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 3.02 67.82 94.43 0.00 0.00 39.40 7.41 1.58
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 17.39 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.71 0.00 0.02 0.07 0.26 0.17 0.12 0.02 0.57 0.68 3.55
Long-Term Debt to Equity		 -0.62 0.00 0.00 0.00 0.24 0.15 0.10 0.00 0.54 0.64 3.48
Financial Leverage		 -0.70 -0.12 -5.83 -2.99 -1.29 -1.05 -1.02 -1.11 -1.03 -0.39 0.36
Leverage Ratio		 -0.05 -0.19 -1.69 3.37 1.67 1.40 1.29 1.40 1.82 2.10 3.18
Compound Leverage Factor		 -0.08 -0.19 -2.75 3.34 1.66 1.44 1.31 1.38 1.85 2.32 3.53
Debt to Total Capital		 -239.21% -0.40% 2.10% 6.15% 20.53% 14.17% 10.45% 2.09% 36.34% 40.61% 78.02%
Short-Term Debt to Total Capital		 -30.18% -0.40% 2.10% 6.15% 1.47% 1.57% 1.06% 1.81% 1.87% 2.52% 1.42%
Long-Term Debt to Total Capital		 -209.03% 0.00% 0.00% 0.00% 19.06% 12.60% 9.39% 0.28% 34.47% 38.09% 76.60%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6.30% 9.58% 5.01% 3.14% 0.30%
Common Equity to Total Capital		 339.21% 100.40% 97.90% 93.85% 79.47% 85.83% 83.25% 88.33% 58.65% 56.25% 21.69%
Debt to EBITDA		 0.97 0.00 0.00 -0.04 -0.23 -0.23 -0.22 -0.02 -0.26 -0.25 -0.82
Net Debt to EBITDA		 0.97 0.12 -0.81 1.16 1.04 1.38 1.92 0.89 0.32 -0.07 -0.18
Long-Term Debt to EBITDA		 0.85 0.00 0.00 0.00 -0.22 -0.20 -0.19 0.00 -0.25 -0.24 -0.81
Debt to NOPAT		 1.43 0.00 0.00 -0.12 -0.37 -0.32 -0.32 -0.02 -0.35 -0.31 -1.08
Net Debt to NOPAT		 1.43 0.23 -0.81 3.57 1.64 1.94 2.85 1.44 0.43 -0.09 -0.24
Long-Term Debt to NOPAT		 1.25 0.00 0.00 0.00 -0.34 -0.29 -0.29 0.00 -0.33 -0.30 -1.06
Altman Z-Score		 0.00 0.00 0.00 -3.24 3.03 3.14 3.51 -1.28 -7.58 -16.65 -14.55
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.07% 8.00% 9.03% 6.97% 4.10%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 0.04 1.38 4.27 1.61 5.48 9.80 8.68 3.00 3.80 3.20 3.80
Quick Ratio		 0.04 1.37 4.24 1.46 4.07 9.23 7.52 2.32 3.01 1.53 1.95
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 1.02 0.00 -5.99 -14 -18 -25 -29 -63 -40 -14
Operating Cash Flow to CapEx		 0.00% -2,911.85% -3,958.40% 2,374.59% -34,952.33% -2,206.63% -1,676.38% -851.41% -975.00% -649.63% -1,770.15%
Free Cash Flow to Firm to Interest Expense		 0.00 68.54 0.00 -3,980.72 -445.68 -28.78 -32.75 -958.84 -21.62 -7.31 -3.88
Operating Cash Flow to Interest Expense		 0.00 -478.45 0.00 890.47 -499.30 -30.59 -29.85 -1,100.30 -19.24 -6.99 -4.93
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -494.88 0.00 852.97 -500.73 -31.98 -31.63 -1,229.53 -21.21 -8.07 -5.21
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.82 0.08 0.03 0.00 0.00 0.02 0.09 0.23
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.20 8.55
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.75 1.51 2.36 3.89
Fixed Asset Turnover		 0.00 0.00 0.00 31.02 6.09 1.53 0.00 0.00 0.16 0.36 0.80
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35 1.24 2.75 3.40
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 50.69 42.68
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 486.34 240.97 154.49 93.94
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,034.17 293.36 132.52 107.31
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -52.40 72.65 29.32
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1.39 -10 -7.47 -3.61 -2.70 0.23 -2.89 -11 8.28 17 11
Invested Capital Turnover		 0.00 0.00 0.00 -1.39 -0.44 -0.71 0.00 0.00 -1.01 0.29 0.55
Increase / (Decrease) in Invested Capital		 0.00 -8.77 0.00 3.85 0.91 2.92 -3.12 -7.68 19 8.75 -6.05
Enterprise Value (EV)		 0.00 0.00 0.00 23 94 82 124 155 46 27 12
Market Capitalization		 0.00 0.00 0.00 31 115 113 199 203 63 24 7.27
Book Value per Share		 ($3.24) ($1.37) $0.26 $0.47 $1.26 $1.49 $2.44 $1.26 $0.70 $0.15 $0.58
Tangible Book Value per Share		 ($3.24) ($1.37) $0.26 $0.47 $1.26 $1.49 $2.44 $1.21 $0.66 $0.14 $0.49
Total Capital		 -1.39 -8.35 1.58 4.29 23 35 87 43 43 24 28
Total Debt		 3.31 0.03 0.03 0.26 4.67 5.03 9.13 0.90 16 9.81 22
Total Long-Term Debt		 2.90 0.00 0.00 0.00 4.34 4.47 8.20 0.12 15 9.20 22
Net Debt		 3.31 -1.78 -9.01 -7.64 -21 -30 -81 -53 -19 2.66 4.78
Capital Expenditures (CapEx)		 -0.01 0.24 0.22 0.06 0.04 0.89 1.38 3.88 5.75 5.88 1.03
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.54 -1.25 -2.04 -4.35 -3.32 -1.29 -7.07 -13 -1.53 4.48 1.39
Debt-free Net Working Capital (DFNWC)		 -1.54 0.56 7.00 3.55 22 34 83 40 33 12 19
Net Working Capital (NWC)		 -1.95 0.53 6.97 3.29 22 33 82 40 32 11 18
Net Nonoperating Expense (NNE)		 6.04 10 29 4.42 7.24 7.33 16 23 20 17 14
Net Nonoperating Obligations (NNO)		 3.31 -1.78 -9.01 -7.64 -21 -30 -81 -53 -19 2.70 4.78
Total Depreciation and Amortization (D&A)		 1.08 1.08 0.00 0.06 0.17 0.34 1.12 1.17 3.50 4.60 4.20
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% -56.33% -238.79% -147.54% 0.00% 0.00% -131.92% 120.89% 18.15%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 45.94% 1,593.09% 3,892.33% 0.00% 0.00% 2,861.86% 313.82% 242.96%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 42.53% 1,568.97% 3,828.52% 0.00% 0.00% 2,792.84% 297.38% 237.74%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($13.20) ($60.20) ($3.01) ($15.40) ($35.60) ($25.40) ($33.60) ($37.20) ($1.82) ($13.80) ($4.01)
Adjusted Weighted Average Basic Shares Outstanding		 308.15K 419.85K 6.00M 424.93K 842.08K 1.10M 1.28M 1.50M 33.16M 3.39M 8.30M
Adjusted Diluted Earnings per Share		 ($13.20) ($60.20) ($3.01) ($15.40) ($35.60) ($25.40) $0.00 $0.00 ($1.82) ($13.80) ($4.01)
Adjusted Weighted Average Diluted Shares Outstanding		 308.15K 419.85K 6.00M 424.93K 842.08K 1.10M 1.49M 1.58M 33.16M 3.39M 8.30M
Adjusted Basic & Diluted Earnings per Share		 ($13.20) ($60.20) $0.00 $0.00 ($35.60) ($25.40) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 5.16K 300.10K 0.00 529.03K 575.31K 900.26K 1.49M 1.58M 45.90M 4.64M 14.41M
Normalized Net Operating Profit after Tax (NOPAT)		 2.32 -7.75 7.75 -2.14 -13 -16 -28 -36 -44 -31 -20
Normalized NOPAT Margin		 0.00% 0.00% 0.00% -27.72% -913.55% -1,781.19% 0.00% 0.00% -3,805.37% -841.45% -264.76%
Pre Tax Income Margin		 0.00% 0.00% 0.00% -85.30% -1,445.71% -2,620.27% 0.00% 0.00% -5,547.45% -1,308.48% -447.12%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 -1,070.76 0.00 -4,411.48 -660.77 -34.66 -55.86 -2,000.90 -21.68 -8.00 -8.41
NOPAT to Interest Expense		 0.00 -520.72 0.00 -1,421.63 -415.79 -24.22 -36.77 -1,214.71 -15.15 -5.70 -5.52
EBIT Less CapEx to Interest Expense		 0.00 -1,087.19 0.00 -4,448.98 -662.20 -36.05 -57.64 -2,130.13 -23.65 -9.07 -8.69
NOPAT Less CapEx to Interest Expense		 0.00 -537.15 0.00 -1,459.13 -417.21 -25.61 -38.55 -1,343.94 -17.12 -6.78 -5.80
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.14% 0.00% 0.00% 0.00% 50.64% 25.28% 0.00% 22.69% 0.00% 0.00%

Quarterly Metrics And Ratios for Beyond Air

This table displays calculated financial ratios and metrics derived from Beyond Air's official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 31,711,317.00 31,972,434.00 - 45,900,821.00 46,520,515.00 - 88,278,647.00 92,794,777.00 5,226,213.00 - 10,529,344.00
DEI Adjusted Shares Outstanding		 1,585,566.00 1,598,622.00 - 2,295,041.00 2,326,026.00 - 4,413,932.00 4,639,739.00 5,226,213.00 - 10,529,344.00
DEI Earnings Per Adjusted Shares Outstanding		 -10.23 -10.15 - -5.32 -5.74 - -1.82 -1.66 -1.52 - -0.98
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 1,057.63% 233.89% 174.17% 145.11% 157.69% 127.82% 104.66% 65.54%
EBITDA Growth		 -30.17% -17.22% 22.53% 24.23% 30.54% 30.35% 48.32% 41.43% 41.34% 44.40% -20.88%
EBIT Growth		 -34.53% -21.62% 18.67% 18.65% 26.37% 34.60% 44.75% 39.39% 39.57% 39.26% -18.64%
NOPAT Growth		 -38.94% -21.08% -6.72% 14.46% 26.81% 35.44% 43.23% 43.91% 40.30% 39.77% 0.03%
Net Income Growth		 -36.17% -25.08% 21.73% 13.28% 19.49% 22.74% 44.61% 38.12% 41.14% 42.77% -28.60%
EPS Growth		 -27.50% -16.28% 18.18% 13.28% 19.49% 70.00% 44.61% 38.12% 77.95% 71.28% 47.68%
Operating Cash Flow Growth		 -55.32% -62.36% -27.07% 40.65% 6.78% 0.00% 35.13% 55.54% 66.64% 45.44% 28.91%
Free Cash Flow Firm Growth		 -90.89% -152.74% -1,284.98% -272.64% -68.41% 19.70% 50.26% 72.98% 94.60% 94.16% 107.47%
Invested Capital Growth		 81.44% 311.68% 178.38% 282.50% 2,357.89% 147.03% 105.69% 17.96% -24.29% -22.54% -35.50%
Revenue Q/Q Growth		 305.08% 63.60% -139.39% 45.32% 16.84% 0.00% 7.46% 52.78% 3.30% 20.68% -13.08%
EBITDA Q/Q Growth		 -10.08% 3.59% -9.09% 12.58% -0.91% 0.00% 33.47% 0.94% -1.07% 16.53% -44.64%
EBIT Q/Q Growth		 -12.07% 2.48% -9.05% 10.64% -1.43% 0.00% 29.62% 1.97% -1.13% 12.95% -37.48%
NOPAT Q/Q Growth		 -10.46% 3.26% 12.00% -7.50% 5.50% 0.00% 34.51% -6.20% -0.58% 13.90% -8.70%
Net Income Q/Q Growth		 -15.75% 0.96% 4.07% 10.31% -7.46% 0.00% 39.53% -0.20% -2.23% 7.60% -35.88%
EPS Q/Q Growth		 -13.33% 1.96% -8.00% 10.31% -7.46% 0.00% 39.53% -0.20% 18.30% 32.00% -45.88%
Operating Cash Flow Q/Q Growth		 16.52% 3.51% 22.38% 5.08% -31.12% 0.00% 10.03% 34.94% 1.61% 5.25% -17.23%
Free Cash Flow Firm Q/Q Growth		 -109.80% -38.75% -36.75% 0.96% 5.18% 0.00% 19.94% 46.20% 81.06% 28.46% 202.47%
Invested Capital Q/Q Growth		 88.62% 998.62% 27.67% 39.78% 40.80% 0.00% 6.30% -19.84% -9.62% 0.58% -11.48%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 -80.75% -91.05% 0.00% -48.61% -135.84% -20.06% -2.78% 8.86% -16.39% 13.67% 4.93%
EBITDA Margin		 -6,815.48% -4,016.62% 0.00% -1,641.58% -1,417.79% -1,020.43% -575.43% -373.13% -365.07% -252.51% -420.19%
Operating Margin		 -7,336.82% -4,338.36% 0.00% -1,988.29% -1,608.15% -1,021.64% -622.57% -432.78% -421.40% -300.64% -375.98%
EBIT Margin		 -7,176.99% -4,278.01% 0.00% -1,822.99% -1,582.58% -1,020.43% -668.32% -428.81% -419.80% -302.83% -478.97%
Profit (Net Income) Margin		 -7,291.21% -4,413.81% 0.00% -1,911.42% -1,758.02% -1,243.75% -699.83% -458.98% -454.24% -347.77% -543.68%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 101.59% 103.17% 92.92% 104.85% 111.09% 121.89% 104.71% 107.04% 108.20% 114.84% 113.51%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -1,222.55% 0.00% -948.25% -338.43% 0.00% -127.54% -114.82% -119.49% -102.47% -144.22%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% -1,208.28% 0.00% -934.50% -314.71% 0.00% -90.00% 76.42% -77.36% -442.13% -287.34%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 1,155.87% 0.00% 848.45% 230.36% 0.00% 35.13% -7.81% 25.08% -29.41% -104.51%
Return on Equity (ROE)		 -145.82% -66.68% -185.79% -99.80% -108.08% 0.00% -92.41% -122.63% -94.41% -131.88% -248.74%
Cash Return on Invested Capital (CROIC)		 0.00% -841.64% -760.05% -521.85% -344.93% 0.00% -315.40% -230.48% -135.61% -117.57% -101.93%
Operating Return on Assets (OROA)		 -30.54% -46.83% 0.00% -54.38% -66.77% 0.00% -56.91% -54.96% -58.01% -59.13% -112.40%
Return on Assets (ROA)		 -31.03% -48.32% 0.00% -57.02% -74.18% 0.00% -59.59% -58.83% -62.77% -67.91% -127.58%
Return on Common Equity (ROCE)		 -133.32% -60.64% -169.01% -90.57% -100.17% 0.00% -85.97% -113.68% -91.01% -127.36% -238.55%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -12 -10 -9.51 -8.98 -7.67 -5.02 -5.33 -5.36 -4.62 -5.02
NOPAT Margin		 -5,135.77% -3,036.85% 0.00% -1,391.80% -1,125.70% -715.15% -435.80% -302.95% -294.98% -210.45% -263.19%
Net Nonoperating Expense Percent (NNEP)		 -10.61% -14.26% -17.08% -13.75% -23.72% -58.61% -37.53% -191.23% -42.13% 339.66% 143.12%
Return On Investment Capital (ROIC_SIMPLE)		 -28.45% -31.26% - -28.65% -20.00% -28.24% -20.79% -26.31% -23.14% -15.26% -17.77%
Cost of Revenue to Revenue		 180.75% 191.30% 0.00% 148.76% 235.84% 120.06% 102.69% 91.14% 116.39% 86.33% 95.07%
SG&A Expenses to Revenue		 4,272.38% 2,498.21% 0.00% 1,059.88% 897.62% 721.27% 337.07% 266.31% 270.24% 203.60% 261.56%
R&D to Revenue		 2,983.26% 1,748.85% 0.00% 879.80% 574.56% 280.32% 282.81% 175.34% 134.76% 110.71% 119.35%
Operating Expenses to Revenue		 7,255.65% 4,247.06% 0.00% 1,939.68% 1,472.18% 1,007.37% 614.50% 442.27% 407.54% 314.31% 377.92%
Earnings before Interest and Taxes (EBIT)		 -17 -17 -18 -12 -13 -11 -7.70 -7.55 -7.63 -6.64 -9.13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -16 -16 -17 -11 -11 -11 -6.63 -6.57 -6.64 -5.54 -8.01
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.85 3.01 2.50 1.53 0.64 1.47 1.77 1.61 0.95 0.72 1.19
Price to Tangible Book Value (P/TBV)		 3.02 3.24 2.65 1.67 0.67 1.58 1.95 1.83 1.04 0.83 1.42
Price to Revenue (P/Rev)		 245.82 90.95 54.11 13.83 7.71 0.00 6.49 3.34 2.08 0.84 0.95
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 7.45 5.51 1.74 0.38 1.51 1.61 1.44 0.94 0.81 1.10
Enterprise Value to Revenue (EV/Rev)		 156.99 70.16 39.40 11.28 2.63 0.00 7.41 4.12 2.01 1.46 1.58
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.50 0.62 0.57 0.87 0.53 0.48 0.68 0.95 0.77 2.65 3.55
Long-Term Debt to Equity		 0.49 0.61 0.54 0.84 0.52 0.47 0.64 0.92 0.77 2.65 3.48
Financial Leverage		 -1.05 -0.96 -1.03 -0.91 -0.73 -0.46 -0.39 -0.10 -0.32 0.07 0.36
Leverage Ratio		 1.51 1.60 1.82 2.10 1.91 2.06 2.10 2.65 1.98 2.66 3.18
Compound Leverage Factor		 1.54 1.65 1.69 2.21 2.12 2.51 2.19 2.84 2.14 3.05 3.61
Debt to Total Capital		 33.18% 38.20% 36.34% 46.66% 34.78% 32.30% 40.61% 48.63% 43.51% 72.62% 78.02%
Short-Term Debt to Total Capital		 0.64% 0.34% 1.87% 1.62% 0.57% 0.22% 2.52% 1.15% 0.00% 0.00% 1.42%
Long-Term Debt to Total Capital		 32.55% 37.86% 34.47% 45.04% 34.21% 32.08% 38.09% 47.48% 43.51% 72.62% 76.60%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 7.15% 7.00% 5.01% 4.73% 2.60% 2.72% 3.14% 2.37% 1.56% 0.58% 0.30%
Common Equity to Total Capital		 59.67% 54.80% 58.65% 48.61% 62.62% 64.98% 56.25% 48.99% 54.93% 26.80% 21.69%
Debt to EBITDA		 -0.22 -0.21 -0.26 -0.28 -0.31 0.00 -0.25 -0.29 -0.34 -0.87 -0.82
Net Debt to EBITDA		 0.45 0.25 0.32 0.11 0.26 0.00 -0.07 -0.09 0.03 -0.16 -0.18
Long-Term Debt to EBITDA		 -0.21 -0.21 -0.25 -0.27 -0.30 0.00 -0.24 -0.28 -0.34 -0.87 -0.81
Debt to NOPAT		 -0.33 -0.32 -0.35 -0.36 -0.40 0.00 -0.31 -0.36 -0.43 -1.08 -1.08
Net Debt to NOPAT		 0.69 0.38 0.43 0.14 0.33 0.00 -0.09 -0.12 0.03 -0.20 -0.24
Long-Term Debt to NOPAT		 -0.33 -0.32 -0.33 -0.35 -0.39 0.00 -0.30 -0.36 -0.43 -1.08 -1.06
Altman Z-Score		 -3.81 -5.18 -4.96 -7.42 -6.58 0.00 -12.70 -14.37 -13.32 -11.39 -12.51
Noncontrolling Interest Sharing Ratio		 8.58% 9.06% 9.03% 9.25% 7.32% 0.00% 6.97% 7.29% 3.61% 3.42% 4.10%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.78 3.39 3.80 2.63 5.76 3.56 3.20 3.24 4.24 5.12 3.80
Quick Ratio		 3.12 2.71 3.01 1.86 4.40 2.13 1.53 1.57 2.64 2.57 1.95
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -15 -21 -29 -27 -26 -17 -14 -7.41 -1.40 -1.00 1.03
Operating Cash Flow to CapEx		 -851.31% -1,033.43% -555.41% -380.85% -1,136.00% 0.00% -464.42% -2,285.86% -1,810.16% -12,408.82% -904.20%
Free Cash Flow to Firm to Interest Expense		 -16.90 -23.32 -254.79 -28.45 -16.77 -7.00 -28.00 -13.52 -2.20 -0.92 0.73
Operating Cash Flow to Interest Expense		 -15.67 -15.03 -93.26 -10.56 -8.61 0.00 -14.14 -8.26 -6.97 -3.88 -3.52
Operating Cash Flow Less CapEx to Interest Expense		 -17.51 -16.49 -110.05 -13.33 -9.36 0.00 -17.19 -8.62 -7.35 -3.91 -3.91
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.01 0.02 0.03 0.04 0.00 0.09 0.13 0.14 0.20 0.23
Accounts Receivable Turnover		 1.35 2.12 0.00 6.87 6.16 0.00 7.20 7.48 8.01 7.74 8.55
Inventory Turnover		 0.97 1.44 1.51 1.70 2.26 0.00 2.36 2.47 2.60 3.28 3.89
Fixed Asset Turnover		 0.06 0.11 0.16 0.20 0.25 0.00 0.36 0.43 0.55 0.69 0.80
Accounts Payable Turnover		 0.42 0.77 1.24 1.31 1.94 0.00 2.75 2.73 3.64 2.98 3.40
Days Sales Outstanding (DSO)		 269.46 171.90 0.00 53.12 59.30 0.00 50.69 48.81 45.55 47.18 42.68
Days Inventory Outstanding (DIO)		 375.35 253.52 240.97 214.13 161.68 0.00 154.49 147.81 140.22 111.16 93.94
Days Payable Outstanding (DPO)		 870.28 471.89 293.36 278.54 188.53 0.00 132.52 133.47 100.39 122.41 107.31
Cash Conversion Cycle (CCC)		 -225.47 -46.46 -52.40 -11.29 32.45 0.00 72.65 63.15 85.38 35.93 29.32
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.72 6.49 8.28 12 16 16 17 14 12 12 11
Invested Capital Turnover		 -0.13 0.40 -1.01 0.68 0.30 0.00 0.29 0.38 0.41 0.49 0.55
Increase / (Decrease) in Invested Capital		 3.17 9.55 19 18 17 9.54 8.75 2.08 -3.96 -3.61 -6.05
Enterprise Value (EV)		 47 48 46 20 6.16 24 27 20 12 10 12
Market Capitalization		 73 63 63 25 18 26 24 16 12 5.81 7.27
Book Value per Share		 $0.81 $0.65 $0.70 $0.35 $0.60 $0.24 $0.15 $0.11 $2.44 $1.01 $0.58
Tangible Book Value per Share		 $0.76 $0.60 $0.66 $0.32 $0.58 $0.23 $0.14 $0.09 $2.22 $0.88 $0.49
Total Capital		 43 38 43 33 45 27 24 20 23 30 28
Total Debt		 14 15 16 15 16 8.77 9.81 9.85 10 22 22
Total Long-Term Debt		 14 14 15 15 15 8.71 9.20 9.62 10 22 22
Net Debt		 -30 -17 -19 -6.12 -13 -2.41 2.66 3.23 -0.77 4.13 4.78
Capital Expenditures (CapEx)		 1.68 1.34 1.93 2.67 1.18 0.00 1.50 0.20 0.25 0.03 0.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.92 -3.57 -1.53 -1.95 3.02 2.79 4.48 3.97 3.35 2.73 1.39
Debt-free Net Working Capital (DFNWC)		 35 28 33 20 32 14 12 11 14 21 19
Net Working Capital (NWC)		 35 28 32 19 31 14 11 10 14 21 18
Net Nonoperating Expense (NNE)		 5.15 5.38 6.11 3.55 5.05 5.67 3.04 2.75 2.90 3.01 5.35
Net Nonoperating Obligations (NNO)		 -30 -17 -19 -6.12 -13 -2.35 2.70 3.25 -0.75 4.13 4.78
Total Depreciation and Amortization (D&A)		 0.86 1.02 1.11 1.24 1.32 0.00 1.07 0.98 1.00 1.10 1.12
Debt-free, Cash-free Net Working Capital to Revenue		 -2,992.62% -517.56% -131.92% -109.14% 128.86% 0.00% 120.89% 83.02% 57.65% 39.38% 18.15%
Debt-free Net Working Capital to Revenue		 11,729.87% 4,053.41% 2,861.86% 1,102.47% 1,353.33% 0.00% 313.82% 221.58% 244.79% 297.15% 242.96%
Net Working Capital to Revenue		 11,637.58% 4,034.54% 2,792.84% 1,072.41% 1,342.31% 0.00% 297.38% 216.71% 244.79% 297.15% 237.74%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($10.20) ($10.00) ($0.54) ($5.40) ($5.60) ($0.15) ($47.40) ($1.53) ($1.25) ($0.85) ($1.24)
Adjusted Weighted Average Basic Shares Outstanding		 1.59M 1.62M 33.16M 2.30M 2.36M 88.07M 169.27K 5.01M 6.36M 8.62M 8.30M
Adjusted Diluted Earnings per Share		 ($10.20) ($10.00) ($0.54) ($5.40) ($5.60) ($0.15) ($47.40) ($1.53) ($1.25) ($0.85) ($1.24)
Adjusted Weighted Average Diluted Shares Outstanding		 1.59M 1.62M 33.16M 2.30M 2.36M 88.07M 169.27K 5.01M 6.36M 8.62M 8.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($47.40) $0.00 $0.00 $0.00 ($1.24)
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.60M 1.80M 45.90M 2.33M 3.61M 88.28M 4.64M 5.23M 8.01M 10.53M 14.41M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -12 -10 -9.51 -8.98 -7.62 -5.02 -5.32 -5.33 -4.62 -5.02
Normalized NOPAT Margin		 -5,135.77% -3,036.85% 0.00% -1,391.80% -1,125.70% -711.10% -435.80% -302.51% -293.21% -210.45% -263.19%
Pre Tax Income Margin		 -7,291.21% -4,413.81% 0.00% -1,911.42% -1,758.02% -1,243.75% -699.83% -458.98% -454.24% -347.77% -543.68%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -18.77 -18.20 -154.94 -12.92 -8.14 -4.45 -15.65 -13.77 -11.94 -6.11 -6.50
NOPAT to Interest Expense		 -13.43 -12.92 -90.87 -9.86 -5.79 -3.12 -10.20 -9.73 -8.39 -4.24 -3.57
EBIT Less CapEx to Interest Expense		 -20.61 -19.66 -171.73 -15.69 -8.90 0.00 -18.69 -14.13 -12.33 -6.14 -6.89
NOPAT Less CapEx to Interest Expense		 -15.27 -14.38 -107.66 -12.63 -6.55 0.00 -13.25 -10.09 -8.78 -4.28 -3.96
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 22.69% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Beyond Air’s latest results show a company that is still deeply unprofitable, but with some encouraging signs on liquidity and revenue growth. Over the last several quarters, revenue has generally improved from very low levels, while cash on hand has been supported by equity raises and debt activity. At the same time, operating losses remain large, interest expense is material, and shareholder dilution has been significant.

  • Revenue has improved year over year, with Q4 2026 revenue of $1.9 million versus $1.2 million in Q4 2025 and $0.4 million in Q3 2024.
  • Gross profit turned positive in recent quarters, including $94,000 in Q4 2026 and $300,000 in Q3 2026, a notable improvement from earlier periods with negative gross profit.
  • The company ended Q3 2026 with $6.6 million in cash and equivalents, plus $5.0 million in short-term investments, giving it a more flexible near-term liquidity position than in some prior periods.
  • Operating cash burn improved in several quarters versus earlier comparisons, with Q4 2026 operating cash outflow of $(4.9) million versus $(7.7) million in Q3 2025 and $(14.3) million in Q2 2024.
  • The balance sheet showed a meaningful equity base, with total equity and noncontrolling interests of $8.3 million at Q3 2026.
  • Operating expenses remain very high relative to revenue, so the business is still far from break-even even with better top-line results.
  • The company has relied heavily on financing activity, including common equity issuance and debt draws in several quarters, to fund operations and investing needs.
  • Non-cash charges such as depreciation and amortization continue to be a meaningful part of the cash flow bridge, which is common for a development-stage company but does not change the underlying loss profile.
  • Beyond Air reported a Q4 2026 net loss of $(10.4) million, or $(1.24) per share, indicating the company remains far from profitability.
  • Interest expense is substantial, including $1.4 million in Q4 2026 and $1.1 million in Q3 2026, which adds pressure to already weak earnings.
  • Long-term debt stood at $22.0 million in Q3 2026, up sharply from $10.1 million in Q2 2026, increasing leverage risk.
  • Share dilution has been significant over the last year, with weighted average basic shares rising from roughly 5.0 million in Q1 2026 to 8.3 million in Q4 2026.
  • Operating losses remain large: Q4 2026 operating loss was $(7.2) million, showing that revenue gains are still not enough to cover the cost structure.

Bottom line: Beyond Air appears to be making progress on revenue and liquidity, but the financial profile is still highly speculative. Investors should focus on whether revenue can scale faster than expenses, and whether future funding needs will require additional dilution or debt.

07/14/26 02:22 AM ETAI Generated. May Contain Errors.

Beyond Air Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Beyond Air's fiscal year ends in March. Their fiscal year 2026 ended on March 31, 2026.

Beyond Air's net income appears to be on an upward trend, with a most recent value of -$34.33 million in 2026, rising from -$3.72 million in 2016. The previous period was -$48.48 million in 2025. Find out what analysts predict for Beyond Air in the coming months.

Beyond Air's total operating income in 2026 was -$29.04 million, based on the following breakdown:
  • Total Gross Profit: $252 thousand
  • Total Operating Expenses: $29.30 million

Over the last 9 years, Beyond Air's total revenue changed from $0.00 in 2016 to $7.68 million in 2026, a change of 767,900,000.0%.

Beyond Air's total liabilities were at $29.18 million at the end of 2026, a 85.6% increase from 2025, and a 491.3% increase since 2016.

In the past 10 years, Beyond Air's cash and equivalents has ranged from $7 thousand in 2016 to $80.24 million in 2022, and is currently $6.74 million as of their latest financial filing in 2026.

Over the last 10 years, Beyond Air's book value per share changed from -3.24 in 2016 to 0.58 in 2026, a change of -117.9%.



Financial statements for NASDAQ:XAIR last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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