Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 631

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1
Chunk 631
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, 2025 and March 31, 2024.

    (in thousands) 
    For The Year Ended March 31, 2025  
    For The Year Ended March 31, 2024 

    Net cash provided by (used in): 

    Operating activities 
    $(38,218) 
    $(56,014)
  
    Investing activities 
    $14,905  
    $(12,235)
  
    Financing activities 
    $16,646  
    $43,167 
  
    Effect of exchange rate changes on cash and cash equivalents 
    $(45) 
    $(77)
  
    Net decrease in cash, cash equivalents and restricted cash 
    $(6,712) 
    $(25,160)

Operating Activities

For the year ended March 31, 2025,
net cash used by operating activities was $38.2 million, which was primarily due to our net loss of $48.5 million which includes $9.1
million of stock-based compensation, $3.0 million of depreciation and amortization, a non-cash loss of $2.4 million on the extinguishment
of debt, an impairment of fixed assets charge $0.5 million, a $0.4 million increase in accounts receivable, a $0.4 million increase in
inventory, partially offset by a $1.0 million decrease in prepaid accounts, a decrease in accrued liabilities $6.4 million (which included
$4.5 million in payment of the final tranche of a May 2021 settlement with Circassia). For the year ended March 31, 2024, net cash used
by operating activities was $56.0 million, which was primarily due to our net loss of $64.3 million, which includes $21.3 million of stock-based
compensation, $0.4 million received in grant payments, $2.0 million of depreciation and amortization partially offset by a $1.6 million
increase in prepaid accounts, a $0.3 million increase in accounts receivable, a $1.0 million increase in inventory, ($3.5) million in
payment of the second tranche of a May 2021 settlement with Circassia, ($2.9) million for the Hudson settlement and ($7.6) million attributable
to the resolution of the Empery Suit.

Investing Activities

For the year ended March 31, 2025