Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 136

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part II, Item 8
Chunk 136
---
 to Beyond Air, Inc. 
    $(0.15) 
    $(0.50) 
    $(0.64) 
    $(1.46)

    Weighted average number of shares, outstanding, basic and diluted 
     88,074,511  
     32,472,476  
     60,417,218  
     31,883,799 

 33 

Comparison
of Three and Nine Months Ended December 31, 2024 with the Three and Nine Months Ended December 31, 2023

Revenues
and Cost of Revenues

$1.1
million and $0.4 million revenue was recognized for the three months ended December 31, 2024 and December 31, 2023, respectively. Cost
of revenue of $1.3 million and gross losses of $0.2 million were recognized for the three months ended December 31, 2024, compared to
a cost of revenue of $0.8 million and gross losses of $0.4 million for the three months ended December 31, 2023.

$2.6
million and $0.7 million revenue was recognized for the nine months ended December 31, 2024 and December 31, 2023, respectively. Cost
of revenue of $4.1 million and gross losses of $1.6 million were recognized for the nine months ended December 31, 2024, compared to
a cost of revenue of $1.5 million and gross losses of $0.8 million for the nine months ended December 31, 2023.

Revenues
continue to expand as we continue to sign hospital contracts. Cost of revenue exceeded revenue primarily due to one-time costs required
to upgrade our existing fleet of devices, provisions for excess inventory and depreciation of devices purchased but not yet deployed.

Research
and Development Expenses

Research
and development expenses for the three months ended December 31, 2024 were $3.0 million as compared to $6.8 million for the three months
ended December 31, 2023. The decrease of $3.8 million was primarily attributed to a decrease in spend in salaries $0.8 million ($0.6
million in Beyond Air and of $0.2 million in Beyond Cancer), stock-based compensation $2.2 million  in Beyond Cancer, pre-clinical studies $0.5 million ($0.4 million