Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 112

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 112
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     (264)
  
    Effect of exchange rate changes on cash and cash equivalents 
     127  
     111 
  
    Net increase (decrease) in cash, cash equivalents and restricted cash 
    $243  
    $(7,218)

Operating
Activities

For
the three months ended June 30, 2025, the net cash used in operating activities was $4.5 million which was primarily due to our net loss
of $8.1 million, which includes $1.6 million of stock-based compensation, $0.8 million of depreciation and amortization, $0.6 million
in prepayments and other assets, and $0.4 million of paid in kind interest and amortization of debt discount associated with the Loan
Agreement.

For
the three months ended June 30, 2024, the net cash used in operating activities was $10.2 million which was primarily due to the Company’s
net loss before adjustment for non-cash items of $13.1 million and stock compensation costs of $3.4 million.

Investing
Activities

For
the three months ended June 30, 2025, net cash provided by investing activities was $0.6 million. In the three months ended June 30,
2025, the Company redeemed a net $0.8 million of excess cash in high quality, short term, U.S. dollar denominated marketable equities
with high liquidity and invested $0.2 million for the purchase of property and equipment, mainly LungFit PH devices.

For
the three months ended June 30, 2024, net cash provided by investing activities was $3.1 million which was mainly attributable to a net
redemption of investments in marketable securities of $5.8 million and for the purchase of property and equipment of $2.7 million.

Financing
Activities

Net cash provided by
financing activities for the three months ended June 30, 2025 was $4.1 million, mainly from the issuance of common stock in
connection with the At-The-Market Offering Sales Agreement with BTIG, Inc (the “2025 ATM”) of $2.4 million in addition
to $2.0 million of advanced financing to the Company from a related party, a director of the Company who is also an existing lender
under its Loan Agreement. The Company is currently arranging the terms and expects that such financing will be issued on terms and