Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1204

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1204
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 or the level of effort varies from our estimate, we adjust the accrual or amount of
prepaid expense accordingly. Non-refundable advance payments for goods and services that will be used in future research and development
activities are expensed when the activity has been performed or when the goods have been received rather than when the payment is made.

Although we do not expect our
estimates to be materially different from amounts actually incurred, our understanding of the status and timing of services performed
relative to the actual status and timing of services performed may vary and may result in us reporting amounts that are too high or too
low in any particular period. To date, there have been no material differences between our estimates of such expenses and the amounts
actually incurred.

77

Results of Operations and Other Comprehensive Loss

    (in thousands, except number of shares and loss per share) 
    Year Ended March 31, 2025  
    Year Ended  March 31, 2024 

    Revenues 
    $3,705  
    $1,159 

    Cost of revenues 
     (5,368) 
     (2,466)

    Gross loss 
     (1,663) 
     (1,307)

    Operating expenses: 

    Research and development 
     (16,857) 
     (24,363)
  
    Selling, general and administrative 
     (26,017) 
     (37,337)
  
    Total Operating expenses 
     (42,874) 
     (61,700)

    Loss from Operations 
     (44,537) 
     (63,006)

    Estimated contingent loss 
     -  
     (598)
  
    Dividend/investment income 
     705  
     1,739 
  
    Interest and finance expense 
     (3,019) 
     (2,912)
  
    Change in fair value of warrant liability 
     237  
     611 
  
    Change in fair value of derivative liability 
     1,314  
     48 
  
    Loss on extinguishment of debt 
     (2,447) 
     - 
  
    Loss on disposal/impairment of fixed assets 
     (738) 
     - 
  
    Foreign exchange (loss) 
     (3) 
     (6)
  
    Other income