Beyond Air(XAIR) - 2025 Q3 - Quarterly Results

Financial Performance - Revenues for the fiscal third quarter ended December 31, 2024, were $1.1 million, a 34% increase compared to $0.8 million for the previous quarter ended September 30, 2024[10] - Total revenues for the three months ended December 31, 2024, were $1,072,000, compared to $391,000 for the same period in 2023, representing a 174% increase[27] - Gross loss for the three months ended December 31, 2024, was $(215,000), an improvement from $(356,000) in the same period of 2023[27] - Net loss attributable to Beyond Air, Inc. for the three months ended December 31, 2024, was $(13,032,000), compared to $(16,220,000) for the same period in 2023, showing a 20% improvement[27] - Comprehensive loss attributable to Beyond Air, Inc. for the three months ended December 31, 2024, was $(13,093,000), compared to $(16,229,000) for the same period in 2023, indicating a 19% improvement[27] Expenses - Research and development expenses decreased to $3.0 million for the quarter ended December 31, 2024, down from $6.8 million for the same period in 2023[12] - Selling, general and administrative expenses were $7.7 million for the quarter ended December 31, 2024, a decrease from $9.8 million in the prior year[13] - Research and development expenses for the three months ended December 31, 2024, were $(3,005,000), down from $(6,838,000) in the same period of 2023, indicating a 56% reduction[27] - Selling, general and administrative expenses for the three months ended December 31, 2024, were $(7,732,000), compared to $(9,768,000) in the same period of 2023, reflecting a 21% decrease[27] Cash and Assets - Cash burn for the fiscal quarter ended December 31, 2024, was $7.6 million, excluding financing impacts[14] - As of December 31, 2024, the company reported cash, cash equivalents, and marketable securities of $10.9 million, with total debt outstanding of $11.8 million[15] - Total current assets decreased to $19,344,000 as of December 31, 2024, from $43,936,000 as of March 31, 2024, a decline of 56%[26] - Cash and cash equivalents decreased to $4,601,000 as of December 31, 2024, from $11,378,000 as of March 31, 2024, a decline of 60%[26] - Total liabilities decreased to $15,763,000 as of December 31, 2024, from $29,775,000 as of March 31, 2024, a reduction of 47%[26] Market and Regulatory Developments - The company received CE Mark for LungFit PH in Europe, allowing access to a significant portion of the global market, and anticipates initial commercial shipments in 2025[4] - Six new hospital starts in the U.S. were recorded in the quarter ended December 31, 2024, indicating growing demand for LungFit PH[5] - A $1 million milestone payment was triggered by the CE Mark certification from Getz Healthcare, with double-digit royalty payments expected based on LungFit PH net sales[8] - The company expects to have regulatory approvals in eight countries under the partnership with Getz Healthcare by the end of the calendar year[5] Future Outlook - Topline data from the Phase 1b trial for the NeuroNOS program is anticipated late in calendar 2025 or early 2026[8] - The weighted average number of shares outstanding for the three months ended December 31, 2024, was 88,074,511, compared to 32,462,476 for the same period in 2023[27]