Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1834

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 7
Chunk 1834
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 relating to our product candidates.

Comparison between Fiscal Years Ended March 31,
2025 and March 31, 2024

Cash Flows

Below is a summary of the statements
of cash flows for the years ended March 31, 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