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Beyond Air Inc (XAIR)
NASDAQ:XAIR
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Beyond Air
(NASDAQ:XAIR)
45Neutral
Positive Factors
Market Expansion
The company's second generation LungFit PH system is transport ready, allowing use in ground and air vehicles, which addresses a key requirement that has been limiting adoption of the first generation system.
Revenue Growth
Revenue was up 34% quarter-over-quarter and 174% year-over-year.
Technology Advantage
Beyond Air's systems deliver unlimited and on-demand nitric oxide from ambient air via ionization with its patented Plasma Pulse Technology, offering a simpler solution compared to competitor systems that use cumbersome and risky compressed gas cylinders.
Negative Factors
Cash Management
Cash burn is anticipated to continue trending lower, but not to the same extent as F3Q due to planned submission activities.
Commercial Challenges
Beyond Air faced setbacks and challenges in its initial commercial efforts, which limited its ability to achieve substantial revenue due to delays and disruptions during the COVID-19 pandemic and a failed agreement with a partner.
Beyond Air (XAIR) vs. S&P 500 (SPY)
Market Cap
$16.84M
Dividend YieldN/A
Average Volume (3M)2.42M
Price to Earnings (P/E)―
Beta (1Y)1.09
Revenue Growth338.75%
EPS Growth50.14%
CountryUS
Employees107
SectorHealthcare
Sector Strength48
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.15
Shares Outstanding86,369,865
10 Day Avg. Volume1,886,540
30 Day Avg. Volume2,418,432
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)0.98
Price to Sales (P/S)0.00
P/FCF Ratio-0.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$1.00Price Target Upside455.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Beyond Air Business Overview & Revenue Model
Company DescriptionBeyond Air, Inc. operates as a commercial medical device and biopharmaceutical company. The company engages in the development of LungFit platform, a nitric oxide generator and delivery system. It offers LungFit PH for the treatment of persistent pulmonary hypertension of the newborn. The company is also developing LungFit PRO for the treatment of viral lung infections, such as community-acquired viral pneumonia, including COVID-19, as well as bronchiolitis in hospitalized patients; and LungFit GO for the treatment of nontuberculous mycobacteria. The company was formerly known as AIT Therapeutics, Inc. and changed its name to Beyond Air, Inc. in June 2019. Beyond Air, Inc. is based in Garden City, New York.
How the Company Makes MoneyBeyond Air generates revenue through the sale and licensing of its LungFit™ product line, which includes devices designed for both hospital and home use. The company focuses on commercializing its nitric oxide delivery systems across various therapeutic areas, targeting conditions such as bronchiolitis, chronic obstructive pulmonary disease (COPD), and other respiratory ailments. Revenue streams are augmented by strategic partnerships and collaborations with healthcare providers and institutions to expand the accessibility and application of its technology. Additionally, Beyond Air may secure income through research grants and potential milestone payments from development collaborations.
Beyond Air Financial Statement Overview
Summary
Beyond Air faces significant financial challenges with persistent losses across income, balance sheet, and cash flow statements. While leverage remains moderate, operational inefficiencies and cash flow issues pose substantial risks. The company needs strategic improvements in revenue generation and cost management to enhance financial health.Income Statement
Beyond Air has shown minimal revenue growth and persistent negative profit margins. The gross profit margin is negative, indicating cost challenges. Net profit and EBIT margins are significantly negative, reflecting ongoing operational inefficiencies and financial losses. The revenue growth is limited, stemming from a low base, contributing to a low score.32
Negative
Balance Sheet
The balance sheet shows a moderate debt-to-equity ratio, suggesting manageable leverage. However, the equity ratio has decreased, indicating a decline in equity relative to assets. Return on equity is negative due to recurring net losses, highlighting profitability issues. The company's financial position shows stability concerns, impacting the score.45
Neutral
Cash Flow
Cash flow analysis reveals negative free cash flow growth, reflecting high capital expenditure and operational costs. The operating cash flow to net income ratio is concerning, indicating cash flow struggles. Free cash flow to net income is negative, further highlighting cash management challenges, leading to a lower score.38
Negative
| Breakdown | |||||
| TTM | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 3.02M | 1.16M | 0.00 | 0.00 | 873.00K | 1.39M | Gross Profit |
| -2.15M | -1.31M | -555.00K | -588.00K | 873.00K | 1.39M | EBIT |
| -50.00M | -63.01M | -51.50M | -40.71M | -22.21M | -18.14M | EBITDA |
| -48.24M | -59.03M | -58.20M | -42.70M | -22.02M | -19.84M | Net Income Common Stockholders |
| -52.30M | -60.24M | -55.82M | -43.18M | -22.88M | -19.94M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 34.70M | 34.47M | 45.88M | 80.24M | 34.63M | 19.83M | Total Assets |
| 56.96M | 56.96M | 68.75M | 99.20M | 40.52M | 27.43M | Total Debt |
| 17.84M | 17.84M | 3.59M | 3.49M | 6.93M | 4.88M | Net Debt |
| 6.23M | 6.46M | -25.57M | -76.75M | -27.70M | -14.95M | Total Liabilities |
| 29.77M | 29.77M | 26.72M | 20.99M | 10.06M | 9.34M | Stockholders Equity |
| 25.05M | 25.05M | 37.91M | 72.70M | 30.46M | 18.09M |
| Cash Flow | Free Cash Flow | ||||
| -48.30M | -61.76M | -36.89M | -24.58M | -20.53M | -15.29M | Operating Cash Flow |
| -41.99M | -56.01M | -33.01M | -23.13M | -19.64M | -15.25M | Investing Cash Flow |
| 10.66M | -12.23M | -20.59M | -1.45M | -890.00K | 4.42M | Financing Cash Flow |
| 28.04M | 43.17M | 2.70M | 79.45M | 30.33M | 34.93M |
Beyond Air Technical Analysis
Negative
0.18
Price Trends
0.24
Negative
0.31
Negative
0.38
Negative
Market Momentum
-0.02
Negative
36.69
Neutral
42.47
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XAIR, the sentiment is Negative. The current price of 0.18 is below the 20-day moving average (MA) of 0.21, below the 50-day MA of 0.24, and below the 200-day MA of 0.38, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 36.69 is Neutral, neither overbought nor oversold. The STOCH value of 42.47 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for XAIR.
Beyond Air Risk Analysis
Beyond Air disclosed 73 risk factors in its most recent earnings report. Beyond Air reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Beyond Air Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $75.05M | 11.29 | 12.70% | ― | 71.31% | 1277.03% | |
63 Neutral | $78.15M | 10.90 | 4.68% | ― | -0.83% | -38.41% | |
52 Neutral | $5.22B | 3.55 | -44.39% | 2.82% | 15.40% | -0.09% | |
45 Neutral | $16.84M | ― | -271.97% | ― | 338.75% | 50.14% | |
45 Neutral | $169.39M | ― | -14.10% | ― | 5.73% | 72.50% | |
45 Neutral | $364.08M | ― | -27.83% | ― | 13.91% | 15.46% | |
43 Neutral | $148.15M | ― | -60.68% | ― | 19.84% | 5.77% |
* Healthcare Sector Average
Performance Comparison
XAIR
Beyond Air
0.18
-1.02
-85.00%
FONR
Fonar
12.24
-4.03
-24.77%
INGN
Inogen
5.88
-2.96
-33.48%
SRTS
Sensus Healthcare
4.82
-1.32
-21.50%
NNOX
Nano-X Imaging
5.61
-5.01
-47.18%
LUNG
Pulmonx
3.26
-6.06
-65.02%
Beyond Air Earnings Call Summary
Earnings Call Date:Feb 10, 2025
(Q3-2025)
| % Change Since: -59.09%|
Next Earnings Date:Jul 01, 2025
Earnings Call Sentiment Neutral
Beyond Air reported strong sequential revenue growth and international expansion, supported by reduced expenses and strategic partnerships. However, the company continues to face challenges with gross profit loss, net losses, onetime costs, and regulatory uncertainties.Q3-2025 Updates
Positive Updates
Sequential Quarterly Revenue Growth
Beyond Air reported revenue of $1.1 million for the fiscal third quarter of 2025, an increase from $0.4 million a year ago. This growth is attributed to new hospital signings and the onboarding of the LungFit PH system.
Expansion in International Markets
LungFit PH received CE Mark approval, allowing marketing in the European Union and other regions. This triggered a $1 million milestone payment from Getz Healthcare and has led to two new contracts in the Middle East.
Reduced Operating Expenses
Research and development expenses decreased from $6.8 million to $3 million, and SG&A expenses decreased from $9.8 million to $7.7 million, attributed to reductions in salaries and stock-based compensation.
Cash Burn Reduction
Net cash burn in the quarter was $7.6 million, over 30% lower than the prior quarter, due to cost reductions, including office closures and a 30% staff reduction.
Partnerships and Marketing Efforts
The company has partnered with Healthcare Links and TrillaMed to enhance distribution, and improved marketing efforts have boosted sales activities.
Negative Updates
Gross Profit Loss
The company reported a $0.2 million loss in gross profit for the fiscal third quarter of 2025, although this is an improvement from a $0.4 million loss in the same period last year.
Net Loss
Beyond Air reported a net loss of $13 million, or $0.15 per share, for the quarter, compared to a net loss of $16.2 million, or $0.50 per share, in the previous year.
Onetime Costs and Depreciation
Cost of revenue exceeded revenue primarily due to $0.3 million of onetime costs for device upgrades and $0.5 million of noncash headwinds related to depreciation.
Regulatory Uncertainty
There is uncertainty around the FDA approval process for the PMA supplement for the LungFit PH label expansion and next-generation system, due to potential staff changes at the FDA.
Company Guidance
During the Beyond Air financial results call for the fiscal quarter ended December 31, 2024, CEO Steve Lisi highlighted several key metrics indicating the company's strong performance and future potential. The company reported $1.1 million in revenue for the third quarter of fiscal 2025, a significant increase from $0.4 million a year ago, driven by six new hospital starts and two contract renewals. The sequential quarterly revenue growth is expected to continue, supported by the rollout of the upgraded LungFit PH system and international expansion following CE Mark approval. Additionally, Beyond Air anticipates providing fiscal 2026 revenue guidance in their June call, reflecting confidence in their growth trajectory. The company also reported a net cash burn of $7.6 million, a notable reduction from the prior quarter, with cash reserves expected to sustain operations through spring 2026.Beyond Air Corporate Events
Product-Related AnnouncementsExecutive/Board ChangesBusiness Operations and Strategy
Beyond Air Expands Global Reach for LungFit PH
Positive
Mar 14, 2025
On March 14, 2025, Ron Bentsur resigned from the board of directors of Beyond Air, Inc., with no disagreements with the company cited as the reason. On March 11, 2025, Beyond Air announced the expansion of its global distribution channels for the LungFit PH system with new agreements in France, Romania, Turkey, and Morocco, increasing its international reach to 18 countries. This expansion is expected to accelerate the commercial ramp-up of LungFit PH internationally, leveraging established medical device infrastructure and positive feedback from U.S. hospitals.
Delistings and Listing ChangesStock SplitRegulatory Filings and Compliance
Beyond Air Granted Extension to Meet Nasdaq Requirements
Neutral
Feb 5, 2025
Beyond Air, Inc. announced on February 5, 2025, that it received an additional 180-day extension from Nasdaq to meet the minimum bid price requirement of $1 per share, which is crucial for maintaining its listing on the Nasdaq Capital Market. Despite failing to comply within the initial period ending February 4, 2025, the company was granted more time due to its compliance with other listing criteria and plans to address the deficiency, potentially through a reverse stock split. The extension allows the company’s stock to continue trading without immediate impact while efforts are made to regain compliance, with the risk of delisting if compliance is not achieved by August 4, 2025.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.