Beyond Air Reports $48.5 Million Net Loss and $3.7 Million Revenue for Fiscal Year Ended March 31, 2025

Beyond Air, Inc. (NASDAQ: XAIR), a commercial-stage medical device and biopharmaceutical company, reported a net loss of $48.5 million for the fiscal year ended March 31, 2025, compared to a net loss of $64.3 million for the previous fiscal year. The company's revenue increased significantly to $3.7 million from $1.2 million in the prior year, driven by additional hospital contracts in the United States for its LungFit® PH system. However, the cost of revenue exceeded revenue, resulting in a gross loss of $1.7 million, primarily due to supply chain infrastructure costs and depreciation of LungFit® devices.

Research and development expenses decreased to $16.9 million from $24.4 million, mainly due to reduced spending in salaries, stock-based compensation, pre-clinical studies, clinical studies, professional fees, and travel expenses. Selling, general, and administrative expenses also decreased to $26.0 million from $37.3 million, primarily due to lower salaries, stock-based compensation, professional fees, marketing and advertising costs, and rent costs, partially offset by increased legal fees and royalty payments. Other expenses increased to $3.9 million from $1.3 million, mainly due to a loss on the extinguishment of debt, a decrease in interest and dividend income, a loss in disposal of fixed assets, an impairment of fixed assets, and a change in the fair value of warrant liability, offset by a decrease of non-product related litigation and change in fair value of the derivative liability.

Key operational developments included European CE mark approval of the LungFit PH® system in November 2024, regulatory approvals in Australia, New Zealand, Hong Kong, and Thailand with partner Getz Healthcare, and new distribution agreements covering France, Italy, Turkey, India, Saudi Arabia, and Morocco. The company also reorganized its neurology business into a new private company called NeuroNOS Limited, with Beyond Air retaining 88.2% ownership. As of March 31, 2025, the company had 61 employees globally.

Looking ahead, Beyond Air anticipates significant revenue contributions from new and future partnerships in fiscal year 2026 and beyond. The company is actively pursuing strategies to mitigate going concern risks, including generating positive cash flows from operations and securing additional equity and/or debt financing. However, the company acknowledges that its ability to continue as a going concern is dependent on these efforts and that failure to obtain sufficient financing could have a material adverse effect on its financial condition, results of operations, and business prospects.