Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1205

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1205
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/(expense) 
     9  
     (169)

    Total other income/(expense) 
     (3,942) 
     (1,288)

    Net loss before income taxes 
     (48,479) 
     (64,295)

    Provision for income taxes 
     -  
     - 

    Net loss 
    $(48,479) 
    $(64,295)

    Less: net loss attributable to non-controlling interest 
     (1,854) 
     (4,053)

    Net loss attributed to Beyond Air, Inc. 
    $(46,625) 
    $(60,242)

    Other comprehensive income: 

    Foreign currency translation (loss) 
     (45) 
     (68)

    Comprehensive loss attributable to Beyond Air, Inc 
     (46,670) 
     (60,310)

    Net basic and diluted loss per share attributable to Beyond Air, Inc. 
    $(0.69) 
    $(1.82)

    Weighted average number of shares of common stock outstanding – basic and diluted 
     67,706,527  
     33,160,180 

78

Comparison of the year ended March 31, 2025
to the year ended March 31, 2024

Revenue and Cost of Revenue

$3.7
million and $1.2 revenue was recognized for the years ended March 31, 2025 and March 31, 2024 respectively. Cost of revenue of
$5.4 million and gross losses of $1.7 million
were recognized for the year ended March 31, 2025 compared to a cost of revenue of $2.5 million and gross losses of $1.3 million for the
year ended March 31, 2024.

The increase in revenue was due
to additional hospital contracts in the United States market. Cost of revenue exceeded revenue primarily driven by costs of supply chain
infrastructure required to grow revenue in future periods and depreciation of additional LungFit® devices purchased in
the year.

Research and Development Expenses

Research and
development expenses for the year ended March 31, 2025 were $16.9 million, as compared
to $24.4 million for the year ended March 31, 2024. The decrease of $7.5 million was
primarily attributed to a decrease in spend