Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 110

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 110
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 2025 with the Three Months Ended June 30, 2024

Revenues
and Cost of Revenues

$1.8
million and $0.7 million revenue was recognized for the three months ended June 30, 2025 and June 30, 2024, respectively. Cost of revenue
of $1.6 million and gross profit of $0.2 million were recognized for the three months ended June 30, 2025, compared to a cost of revenue
of $1.0 million and gross losses of $0.3 million for the three months ended June 30, 2024.

Revenues
continue to expand as we continue to sign hospital contracts and begin selling into international markets. The increase in gross
profit is primarily associated with sales growth, partially offset by one-time costs required to upgrade our existing fleet of
devices and provisions for excess inventory.

Research
and Development Expenses

Research
and development expenses for the three months ended June 30, 2025 were $3.1 million as compared to $6.0 million for the three months
ended June 30, 2024. The decrease of $2.9 million was primarily attributed to a decrease in spend in salaries $1.3 million ($0.5 million
in Beyond Air and $0.8 million in Beyond Cancer), stock-based compensation costs $0.3 million ($0.1 million in Beyond Air and $0.2 million
in Beyond Cancer), pre-clinical studies $0.3 million ($0.1 million in NeuroNos and $0.2 million in Beyond Cancer), clinical studies $0.1
million in Beyond Air, professional fees $0.2 million and a reduction in Gen II device development costs of $0.2 million in Beyond Air.

Selling,
General and Administrative Expenses

Selling,
general and administrative expenses for the three months ended June 30, 2025 were $4.7 million as compared to $7.2 million for the three
months ended June 30, 2024. The decrease of $2.5 million was attributed primarily to a decrease in spend in salaries $0.8 million ($0.7
million in Beyond Air and $0.1 million in Beyond Cancer), stock-based compensation costs $1.5 million ($0.8 million in Beyond Air and
$0.7 million in Beyond Cancer), $0.1 million marketing and advertising costs for Beyond Air and $