Beyond Air (XAIR) AI Stock Analysis

• Market Cap: $13.20M
• Dividend Yield: N/A
• Average Volume (3M): 5.98M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.48
• Revenue Growth: 168.20%
• EPS Growth: 63.41%
• Country: US
• Employees: 107
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -1.53
• Shares Outstanding: 5,365,224
• 10 Day Avg. Volume: 310,041
• 30 Day Avg. Volume: 5,983,495
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.73
• Enterprise Value/Revenue: 4.77
• Enterprise Value/Gross Profit: -19.42
• Enterprise Value/Ebitda: -0.61
• 1Y Price Target: $10.50
• Price Target Upside: 326.83% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 40 Underperform
• Price Target: $2.00 ▼(-18.70% Downside)

Beyond Air's overall stock score is primarily impacted by its financial performance and valuation challenges. Despite strong revenue growth, the company faces significant profitability issues and negative cash flows. Technical analysis indicates a bearish trend, further weighing on the score. The valuation is unattractive due to a negative P/E ratio and lack of dividends.

Positive Factors

Revenue Growth

Strong revenue growth indicates successful market adoption of products, enhancing the company's market position and potential for future profitability.

Cost Reduction

Significant cost reduction improves operational efficiency, potentially leading to better margins and financial health over the long term.

International Expansion

Expanding international presence diversifies revenue streams and reduces dependency on domestic markets, supporting long-term growth.

Negative Factors

Profitability Challenges

Ongoing net losses highlight challenges in achieving profitability, which may strain financial resources and impact long-term sustainability.

Cash Flow Issues

Negative cash flows suggest difficulties in sustaining operations without external financing, potentially hindering growth and investment.

Scaling International Sales

Challenges in scaling international sales could delay revenue realization from new markets, affecting growth projections and financial performance.

Beyond Air Business Overview & Revenue Model

Company Description

Beyond 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 Money

Beyond Air generates revenue primarily through the sale of its proprietary nitric oxide delivery systems and related products. The company's key revenue streams include direct sales of its devices to hospitals and healthcare providers, as well as potential licensing agreements for its technologies. Additionally, Beyond Air may benefit from partnerships with pharmaceutical companies for the development of combination therapies. The ongoing commercialization of its products and the expansion into new markets are critical factors contributing to its earnings, alongside potential reimbursement strategies with healthcare payers.

Beyond Air Financial Statement Overview

Summary

Beyond Air is in a growth phase with increasing revenues but faces significant profitability and cash flow challenges. The company exhibits a stable financial structure with low leverage, yet it struggles with negative margins and cash flows. Strategic improvements in cost management and operational efficiency are crucial for enhancing profitability and ensuring sustainable growth.

Income Statement

Beyond Air's income statement reveals significant challenges. The company has experienced a substantial revenue growth rate of 29.07% in the TTM, indicating potential market traction. However, profitability remains a concern with negative gross profit, net profit, and EBIT margins, reflecting ongoing operational inefficiencies and high costs relative to revenue. The consistent negative margins highlight the need for strategic cost management and revenue enhancement.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio of 0.21 in the TTM, suggesting manageable leverage levels. However, the return on equity is significantly negative, indicating that the company is not generating sufficient returns on shareholder investments. The equity ratio stands at 35.31%, showing a moderate reliance on equity financing. Overall, the balance sheet reflects a stable financial structure but with poor profitability metrics.

Cash Flow

Cash flow analysis indicates a challenging environment with negative operating and free cash flows. The free cash flow to net income ratio is slightly above 1, suggesting that cash flow is somewhat aligned with reported losses. However, the negative free cash flow growth rate of -18.43% in the TTM highlights deteriorating cash generation capabilities. The company needs to improve its cash flow management to support its operations and growth.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	4.78M	3.71M	1.16M	0.00	0.00	873.00K
Gross Profit	-1.18M	-1.66M	-1.31M	-555.00K	-588.00K	873.00K
EBITDA	-37.23M	-41.89M	-59.03M	-58.20M	-42.70M	-22.02M
Net Income	-42.12M	-46.63M	-60.24M	-55.82M	-43.18M	-22.88M
Balance Sheet
Total Assets	28.11M	30.06M	56.96M	68.75M	99.20M	40.52M
Cash, Cash Equivalents and Short-Term Investments	6.63M	6.92M	34.47M	45.88M	80.24M	34.63M
Total Debt	11.69M	11.69M	17.84M	3.59M	3.49M	6.93M
Total Liabilities	17.71M	15.72M	29.77M	26.72M	20.99M	10.06M
Stockholders Equity	9.93M	13.58M	25.05M	37.91M	72.70M	30.46M
Cash Flow
Free Cash Flow	-35.97M	-44.10M	-61.76M	-36.89M	-24.58M	-20.53M
Operating Cash Flow	-32.56M	-38.22M	-56.01M	-33.01M	-23.13M	-19.64M
Investing Cash Flow	12.37M	14.90M	-12.23M	-20.59M	-1.45M	-890.00K
Financing Cash Flow	20.98M	16.65M	43.17M	2.70M	79.45M	30.33M

Beyond Air Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 2.46
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XAIR, the sentiment is Neutral. The current price of 2.46 is above the 20-day moving average (MA) of 2.37, below the 50-day MA of 2.60, and below the 200-day MA of 4.87, indicating a neutral trend. The MACD of -0.05 indicates Negative momentum. The RSI at 50.67 is Neutral, neither overbought nor oversold. The STOCH value of 75.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for XAIR.

Beyond Air Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FONR	67 Neutral	96.92M	12.52	4.83%	―	1.43%	-20.12%
INGN	60 Neutral	222.27M	-7.76	-20.64%	―	5.15%	73.29%
SRTS	58 Neutral	50.96M	-58.94	11.91%	―	3.30%	-112.70%
LUNG	46 Neutral	70.90M	-1.22	-82.41%	―	18.24%	4.81%
XAIR	40 Underperform	$13.20M	―	-323.27%	―	168.20%	63.41%
NNOX	40 Underperform	237.19M	-4.12	-28.30%	―	17.36%	9.38%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

Beyond Air Corporate Events

Beyond Air’s NeuroNOS Gains FDA Orphan Drug Status

On September 8, 2025, Beyond Air‘s subsidiary, NeuroNOS, received Orphan Drug Designation from the FDA for its investigational therapy, BA-101, aimed at treating Glioblastoma, a highly aggressive brain cancer. This designation highlights the company’s commitment to addressing rare neurological conditions and marks its entry into oncology, offering potential market exclusivity and incentives for further development.

Beyond Air Implements Reverse Stock Split for Nasdaq Compliance

Beyond Air, Inc. announced a 1-for-20 reverse stock split of its common stock, approved during a special stockholders meeting on June 20, 2025, and effective on July 14, 2025. This move aims to increase the per share bid price above $1.00 to comply with Nasdaq Listing Rule 5550(a)(2). While the reverse stock split will adjust the number of shares held by stockholders, it will not affect the company’s authorized capital stock or the rights of preferred stockholders. The company hopes this action will help regain compliance with Nasdaq requirements, although there is no assurance of achieving the desired effects.

Beyond Air Approves Reverse Stock Split Proposal

On June 20, 2025, Beyond Air, Inc. held a special meeting of stockholders where a reverse stock split proposal was approved. The proposal grants the board of directors the authority to implement a reverse stock split at a ratio between 1-for-10 and 1-for-50 within a year, potentially impacting the company’s stock structure and market perception.

Beyond Air Appoints Robert Goodman to Board

On June 16, 2025, Beyond Air appointed Robert Goodman to its Board of Directors, bringing his extensive experience in healthcare leadership to the company. Additionally, Beyond Air announced the submission of a premarket approval supplement to the FDA for its second-generation LungFit PH device, which could significantly enhance its market potential. The company reported a 220% increase in annual revenue for the fiscal year ending March 31, 2025, driven by the demand for LungFit PH and international expansion. Despite a net loss, Beyond Air’s strategic moves, including new distribution partnerships and regulatory approvals, position it for a pivotal year ahead.