Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 170

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 2
Chunk 170
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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 in Beyond Air and $0.1 million in Beyond Cancer), clinical
studies $0.9 million ($0.6 million in Beyond Air and $0.3 million in Beyond Cancer), professional fees $0.1 million in Beyond Air offset
by an increase in Gen II device development costs of $0.7 million in Beyond Air.

Research
and development expenses for the nine months ended December 31, 2024 were $13.6 million as compared to $18.7 million for the nine months
ended December 31, 2023. The decrease of $5.1 million was primarily attributed to a decrease in spend in salaries $0.5 million ($1.0
million in Beyond Air offset by an increase of $0.5 million restructuring costs in Beyond Cancer), stock-based compensation $3.7 million
($0.8 million in Beyond Air and $2.9 million in Beyond Cancer), pre-clinical studies $1.0 million ($0.9 million in Beyond Air and $0.1
million in Beyond Cancer), clinical studies $1.5 million ($1.1 million in Beyond Air and $0.4 million in Beyond Cancer), professional
fees $0.4 million ($0.2 million in Beyond Air and $0.2 million in Beyond Cancer), travel expenses $0.1 million in Beyond Air offset by
an increase in Gen II device development costs of $2.2 million in Beyond Air.

Selling,
General and Administrative Expenses

Selling,
general and administrative expenses for the three months ended December 31, 2024 and December 31, 2023 were $