Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1207

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1207
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0.4 million on the Loan and Security Agreement, offset by a decrease of $0.6 million of non-product
related litigation and change in fair value of the derivative liability of $1.3 million on the Loan and Security Agreement.

Net Loss Attributable to Non-controlling Interest

Net loss attributed to non-controlling
interest for the year ended March 31, 2025, was $1.9 million for the year ended March 31, 2025, compared to $4.1 million for the year
ended March 31, 2024. Non-controlling interest represents 20% of the net loss of our Beyond Cancer subsidiary and 11.76% of the net loss
of our NeuroNos subsidiary. The year-on-year variance is due to a decrease in the net loss of Beyond Cancer partially offset by the loss
in NeuroNos, which the non-controlling interest was established in the current fiscal year.

Net Loss Attributed to Common Stockholders

Net loss attributed to common
stockholders for the year ended March 31, 2025, was $46.6 million or a loss of $0.69 per share, basic and diluted, as a result of the
foregoing. Our net loss attributed to common stockholders for the year ended March 31, 2024, was $60.3 million or a loss of $1.82 per
share, basic and diluted.

79

Liquidity and Capital Resources

We have generated revenue of $4.9
million from the sale of products to date. We had an operating cash flow decrease of $38.2 million for the year ended March 31, 2025 and
we have experienced an accumulated loss of $286.3 million since inception through March 31, 2025. As of March 31, 2025, we had cash, cash
equivalents and marketable securities of $6.9 million and $0.2 million in restricted cash.

The Company has recently signed agreements with TrillaMed (providing access to Department of Defense and Veterans Affairs hospitals),
Healthcare Links (expanding access to group purchasing organizations and integrated delivery networks) and Business Asia Consultants (accelerating
global expansion) which will drive increased revenues. The Company has implemented a capital conservation strategy, reducing our back
office footprint, reducing staffing levels by over 30% across the company, placing our VCAP study on hold pending future funding and adjusting
our