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XAIR logoBeyond Air, Inc.(XAIR)Earnings, Financials & Key Ratios

XAIR•NASDAQ
$0.57
$5M mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryMedical DevicesSub-IndustryRespiratory and sleep therapy devices
AboutBeyond 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.Show more
  • Revenue$4M+219.7%
  • EBITDA-$41M+32.5%
  • Net Income-$47M+22.6%
  • EPS (Diluted)-13.77+62.1%
  • Gross Margin-44.89%+60.2%
  • EBITDA Margin-1105.7%+78.9%
  • Operating Margin-1202.08%+77.9%
  • Net Margin-1258.43%+75.8%
  • ROE-224.55%-29.0%
  • ROIC-121.44%+35.6%
  • Debt/Equity0.82+24.2%
  • Interest Coverage-14.75+31.8%
Technical→

XAIR Key Insights

Beyond Air, Inc. (XAIR) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 21.7%
  • ✓Trading at only 0.1x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Weak momentum: RS Rating 4 (bottom 4%)
  • ✗Shares diluted 100.0% in last year
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

XAIR Price & Volume

Beyond Air, Inc. (XAIR) stock price & volume — 10-year historical chart

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XAIR Growth Metrics

Beyond Air, Inc. (XAIR) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years21.66%
3 Years-
TTM129.04%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM40.72%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM74.3%

Return on Capital

10 Years-134.37%
5 Years-95.13%
3 Years-111.9%
Last Year-126.43%

XAIR Peer Comparison

Beyond Air, Inc. (XAIR) competitors in Respiratory and sleep therapy devices — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
INVA logoINVAInnoviva, Inc.Direct Competitor1.91B22.526.8218.52%118.91%46.47%0.23
INSM logoINSMInsmed IncorporatedDirect Competitor29.14B137.09-21.3566.73%-264.83%-125.2%0.06
PRAX logoPRAXPraxis Precision Medicines, Inc.Direct Competitor7.61B337.95-25.07-100%-58.74%0.00
NKTR logoNKTRNektar TherapeuticsDirect Competitor1.67B85.09-8.75-43.89%-192.87%-356.81%0.95
AVPT logoAVPTAvePoint, Inc.Direct Competitor2.22B10.2768.4726.93%8.3%7.95%0.02
MNKD logoMNKDMannKind CorporationProduct Competitor1.1B3.5617822.23%-6.63%
PULM logoPULMPulmatrix, Inc.Product Competitor4.97M1.36-0.96-100%-135.49%
AEMD logoAEMDAethlon Medical, Inc.Product Competitor371.48K2.38-0.03-30.21%0.13

Compare XAIR vs Peers

Beyond Air, Inc. (XAIR) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs INVA

Most directly comparable listed peer for XAIR.

Scale Benchmark

vs LIN

Larger-name benchmark to compare XAIR against a more recognizable public peer.

Peer Set

Compare Top 5

vs INVA, INSM, PRAX, NKTR

XAIR Income Statement

Beyond Air, Inc. (XAIR) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Sales/Revenue007.72M1.39M873K001.16M3.71M6.92M
Revenue Growth %----82%-37.2%-100%--219.67%129.04%
Cost of Goods Sold038K0000555K2.47M5.37M6.8M
COGS % of Revenue-------212.77%144.89%-
Gross Profit
0▲ 0%
-38K▲ 0%
7.72M▲ 20426.3%
1.39M▼ 82.0%
873K▼ 37.2%
0▼ 100.0%
-555K▲ 0%
-1.31M▼ 135.5%
-1.66M▼ 27.2%
126K▲ 0%
Gross Margin %--100%100%100%---112.77%-44.89%1.82%
Gross Profit Growth %--20426.32%-82%-37.2%-100%--135.5%-27.24%-
Operating Expenses2.33M11.07M10.78M19.53M23.09M40.71M51.5M61.7M42.87M29.17M
OpEx % of Revenue--139.6%1405.08%2644.56%--5323.47%1157.19%-
Selling, General & Admin1.66M6.63M6.85M8.88M10.47M18.41M34.69M37.34M26.02M17.95M
SG&A % of Revenue--88.72%639.03%1199.08%--3221.48%702.21%-
Research & Development673K4.44M3.93M10.65M12.62M11.8M16.81M24.36M16.86M11.22M
R&D % of Revenue--50.87%766.05%1445.36%--2102.07%454.98%-
Other Operating Expenses00-3.03K01K10.5M0-1K00
Operating Income
-2.33M▲ 0%
-11.07M▼ 374.4%
-3.06M▲ 72.4%
-18.14M▼ 493.2%
-22.21M▼ 22.4%
-40.71M▼ 83.3%
-52.06M▼ 27.9%
-63.01M▼ 21.0%
-44.54M▲ 29.3%
-29.05M▲ 0%
Operating Margin %---39.6%-1305.08%-2544.56%---5436.24%-1202.08%-419.53%
Operating Income Growth %-7866.26%-374.37%72.36%-493.16%-22.45%-83.26%-27.88%-21.03%29.31%-
EBITDA-2.31M-11.03M-2.99M-17.98M-22M-40.12M-50.89M-60.65M-40.97M-25.47M
EBITDA Margin %---38.76%-1293.61%-2520.39%---5233.3%-1105.7%-367.87%
EBITDA Growth %-70137.37%-377.86%72.86%-500.67%-22.36%-82.35%-26.84%-19.19%32.46%45.38%
D&A (Non-Cash Add-back)25K38K64.79K159.4K211K588K1.17M2.35M3.57M3.58M
EBIT-1.71M-16.95M-6.56M-20.07M-22.23M-43.28M-59.37M-61.38M-45.46M-29.23M
Net Interest Income00-1.51K-30.54K-642K-775K-30K-2.91M-3.02M-2.85M
Interest Income0000000000
Interest Expense286K1.06M1.51K30.54K642K775K30K2.91M3.02M2.85M
Other Income/Expense-1.36M-6.98M-3.5M-1.95M-661K-3.35M-7.34M-1.29M-3.94M-2.98M
Pretax Income
-3.69M▲ 0%
-18.04M▼ 388.6%
-6.56M▲ 63.7%
-20.1M▼ 206.4%
-22.88M▼ 13.8%
-44.06M▼ 92.6%
-59.4M▼ 34.8%
-64.3M▼ 8.2%
-48.48M▲ 24.6%
-32.03M▲ 0%
Pretax Margin %---84.91%-1445.71%-2620.27%---5547.45%-1308.47%-462.58%
Income Tax27K0-1.53K-154.3K000000
Effective Tax Rate %-0.73%0%0.02%0.77%0%0%0%0%0%0%
Net Income
-3.72M▲ 0%
-18.04M▼ 385.1%
-6.56M▲ 63.7%
-19.94M▼ 204.1%
-22.88M▼ 14.7%
-43.18M▼ 88.8%
-55.82M▼ 29.3%
-60.24M▼ 7.9%
-46.63M▲ 22.6%
-31M▲ 0%
Net Margin %---84.91%-1434.61%-2620.27%---5197.76%-1258.43%-447.73%
Net Income Growth %-12405.04%-385.05%63.65%-204.07%-14.7%-88.75%-29.27%-7.93%22.6%40.72%
Net Income (Continuing)-3.72M-18.04M-6.56M-19.94M-22.88M-44.06M-59.4M-64.3M-48.48M-32.03M
Discontinued Operations0000000000
Minority Interest000005.5M4.11M2.14M758K175K
EPS (Diluted)
-1.29▲ 0%
-60.20▼ 4584.8%
-15.43▲ 74.4%
-35.57▼ 130.5%
-25.41▲ 28.6%
-33.64▼ 32.4%
-37.24▼ 10.7%
-36.33▲ 2.4%
-13.77▲ 62.1%
-3.60▲ 0%
EPS Growth %-12375.73%-4584.82%74.36%-130.46%28.56%-32.39%-10.7%2.44%62.1%74.3%
EPS (Basic)-1.29-60.20-15.43-35.57-25.41-33.64-37.24-36.33-13.77-
Diluted Shares Outstanding2.9M300.1K424.93K575.31K900.26K1.28M1.5M1.66M3.39M8.62M
Basic Shares Outstanding2.9M300.1K424.93K575.31K900.26K1.28M1.5M1.66M3.39M8.62M
Dividend Payout Ratio----------

XAIR Balance Sheet

Beyond Air, Inc. (XAIR) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Total Current Assets85K9.1M8.69M26.61M37.22M92.94M59.41M43.94M16.02M25.56M
Cash & Short-Term Investments7K9.04M7.88M19.83M34.63M80.24M45.88M34.47M6.92M17.85M
Cash Only7K732.54K1.34M19.83M34.63M80.24M29.16M11.38M4.67M12.83M
Short-Term Investments08.3M6.54M00016.72M23.09M2.25M5.02M
Accounts Receivable78K000425K604K651K548K860K1.26M
Days Sales Outstanding----177.69--172.5884.7253.16
Inventory-260638.94K6.53M1.88M350K1.13M2.13M2.42M1.76M
Days Inventory Outstanding------742.5314.82164.35118.66
Other Current Assets05.69K388.89K-503.31K-930K10.5M7.95M507K434K4.7M
Total Non-Current Assets151K253.18K739.87K819.83K3.3M6.25M9.34M13.03M14.04M11.21M
Property, Plant & Equipment61K253.18K244.87K407.06K2.79M4.21M7.5M11.48M12.72M9.97M
Fixed Asset Turnover--31.54x3.41x0.31x--0.10x0.29x0.61x
Goodwill0000000000
Intangible Assets00495K412.76K375K1.84M1.63M1.43M1.22M1.07M
Long-Term Investments0000000000
Other Non-Current Assets90K000138K207K212K113K103K696K
Total Assets
236K▲ 0%
9.36M▲ 3864.0%
9.43M▲ 0.8%
27.43M▲ 191.0%
40.52M▲ 47.7%
99.2M▲ 144.8%
68.75M▼ 30.7%
56.96M▼ 17.1%
30.06M▼ 47.2%
36.77M▲ 0%
Asset Turnover--0.82x0.05x0.02x--0.02x0.12x0.22x
Asset Growth %3870.39%3864.01%0.78%190.99%47.71%144.78%-30.7%-17.15%-47.22%-120.65%
Total Current Liabilities2.04M2.13M5.4M4.87M3.8M10.71M19.78M11.57M5M4.99M
Accounts Payable528K842.04K1.16M2.26M1.32M1.13M2.02M1.95M1.95M2.2M
Days Payables Outstanding-8.09K----1.33K288.33132.5998.11
Short-Term Debt418K33.12K263.6K335.36K557K927K775K800K609K386K
Deferred Revenue (Current)1.06M02.26M873.19K08.37M16.61M138K01.76M
Other Current Liabilities0154.3K240.62K1.27M0-408K-986K755K223K1.18M
Current Ratio0.04x4.27x1.61x5.46x9.80x8.68x3.00x3.80x3.20x3.20x
Quick Ratio0.04x4.27x1.49x4.12x9.30x8.64x2.95x3.61x2.72x2.72x
Cash Conversion Cycle-------199.07116.4873.71
Total Non-Current Liabilities2.9M5.68M04.47M6.26M10.28M6.94M18.21M10.72M23.5M
Long-Term Debt2.9M004.34M4.47M200K120K14.72M9.2M23.2M
Capital Lease Obligations000131.58K1.79M2.08M2.32M1.9M1.49M5.44M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities05.68M001K8M4.5M1.59M38K1.22M
Total Liabilities4.93M7.81M5.4M9.34M10.06M20.99M26.72M29.77M15.72M28.49M
Total Debt3.31M33.12K263.6K4.88M6.93M3.49M3.59M17.84M11.69M24.82M
Net Debt3.31M-699.42K-1.08M-14.95M-27.7M-76.75M-25.57M6.46M7.02M11.99M
Debt / Equity-0.02x0.07x0.27x0.23x0.04x0.09x0.66x0.82x0.82x
Debt / EBITDA----------0.97x
Net Debt / EBITDA----------0.47x
Interest Coverage-8.16x-10.44x-2030.91x-593.98x-34.60x-52.53x-1735.30x-21.64x-14.75x-10.24x
Total Equity
-4.7M▲ 0%
1.54M▲ 132.9%
4.02M▲ 160.6%
18.09M▲ 349.5%
30.46M▲ 68.4%
78.21M▲ 156.7%
42.03M▼ 46.3%
27.19M▼ 35.3%
14.34M▼ 47.2%
8.29M▲ 0%
Equity Growth %-18572.5%132.87%160.64%349.52%68.37%156.73%-46.26%-35.31%-47.25%-198.67%
Book Value per Share-1.625.159.4731.4533.8460.9428.0416.404.240.96
Total Shareholders' Equity-4.7M1.54M4.02M18.09M30.46M72.7M37.91M25.05M13.58M8.11M
Common Stock1K8408711.61K2K3K3K5K8K1K
Retained Earnings-13.57M-30.57M-37.64M-57.59M-80.46M-123.64M-179.46M-239.7M-286.32M-309.29M
Treasury Stock0-25K-25K-25K-25K-25K-25K-25K-25K-25K
Accumulated OCI0-2.99K00096K53K-15K-60K110K
Minority Interest000005.5M4.11M2.14M758K175K

XAIR Cash Flow Statement

Beyond Air, Inc. (XAIR) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Cash from Operations-692K-7.12M1.34M-15.25M-19.64M-23.13M-33.01M-56.02M-38.22M-38.22M
Operating CF Margin %--17.36%-1097.04%-2249.6%---4833.05%-1031.53%-
Operating CF Growth %-2313%-928.76%118.84%-1237.17%-28.78%-17.8%-42.69%-69.7%31.77%202.75%
Net Income-3.72M-18.04M-6.56M-19.94M-22.88M-43.18M-59.4M-60.24M-48.48M-31M
Depreciation & Amortization25K38K64.79K159.4K211K588K1.17M2.35M3.57M3.52M
Stock-Based Compensation365K4.38M2.4M3.58M4.89M019.56M09.15M5.01M
Deferred Taxes5K5.41M3.5M2.08M37K00000
Other Non-Cash Items1.66M6.97M-197.01K9.85K-703K7.62M271K17.91M3.7M3.1M
Working Capital Changes980K-464K2.13M-1.13M-1.2M11.84M5.39M-16.04M-6.15M244K
Change in Receivables-67K-31K000103K-98K101K-390K-512K
Change in Inventory291K00000-781K-998K-466K1.04M
Change in Payables404K141K322.63K1.09M-967.75K-327K838K-467K399K668K
Cash from Investing14K-1.15M-1.79M4.42M-890K-1.45M-20.59M-12.23M14.9M-646K
Capital Expenditures0-244K-56.48K-43.63K-890K-1.38M-3.88M-5.75M-5.88M-1.98M
CapEx % of Revenue--0.73%3.14%101.95%--495.69%158.79%-
Acquisitions000-4.47M000000
Investments----------
Other Investing14K-301K-1.74M4.47M0-70K1K010K0
Cash from Financing556K9.46M1.07M34.93M30.33M79.45M2.7M43.17M16.65M28.69M
Debt Issued (Net)184K-403K263.6K5.07M221K371K-1.01M14.98M-6.73M13.02M
Equity Issued (Net)01000K01000K1000K1000K1000K1000K1000K3.2M
Dividends Paid0000000000
Share Repurchases0-25K00000000
Other Financing372K1K807.89K-70.62K6.67M35K00365K365K
Net Change in Cash
-122K▲ 0%
1.19M▲ 1078.7%
618.9K▼ 48.2%
24.11M▲ 3795.3%
9.8M▼ 59.3%
54.96M▲ 460.7%
-50.94M▼ 192.7%
-27.68M▲ 45.7%
-6.71M▲ 75.8%
8M▲ 0%
Free Cash Flow
-692K▲ 0%
-7.36M▼ 964.0%
1.28M▲ 117.4%
-15.29M▼ 1290.6%
-20.53M▼ 34.2%
-24.51M▼ 19.4%
-36.89M▼ 50.5%
-61.76M▼ 67.4%
-44.1M▲ 28.6%
-22.13M▲ 0%
FCF Margin %--16.63%-1100.18%-2351.55%---5328.73%-1190.31%-319.63%
FCF Growth %-1839.57%-964.02%117.45%-1290.56%-34.23%-19.41%-50.47%-67.43%28.59%54.18%
FCF per Share-0.24-24.533.02-26.58-22.80-19.10-24.61-37.25-13.03-13.03
FCF Conversion (FCF/Net Income)0.19x0.39x-0.20x0.76x0.86x0.54x0.59x0.93x0.82x0.71x
Interest Paid00000036K01.2M181K
Taxes Paid0000000000

XAIR Key Ratios

Beyond Air, Inc. (XAIR) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)--1168.5%-235.53%-180.33%-94.22%-79.46%-92.84%-174.07%-224.55%-374.14%
Return on Invested Capital (ROIC)---120.95%-447.08%-564.62%-1448.07%-435.86%-188.61%-121.44%-121.44%
Gross Margin--100%100%100%---112.77%-44.89%1.82%
Net Margin---84.91%-1434.61%-2620.27%---5197.76%-1258.43%-447.73%
Debt / Equity-0.02x0.07x0.27x0.23x0.04x0.09x0.66x0.82x0.82x
Interest Coverage-8.16x-10.44x-2030.91x-593.98x-34.60x-52.53x-1735.30x-21.64x-14.75x-10.24x
FCF Conversion0.19x0.39x-0.20x0.76x0.86x0.54x0.59x0.93x0.82x0.71x
Revenue Growth----82%-37.2%-100%--219.67%129.04%

XAIR Frequently Asked Questions

Beyond Air, Inc. (XAIR) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Beyond Air, Inc. (XAIR) reported $6.9M in revenue for fiscal year 2025.

Beyond Air, Inc. (XAIR) grew revenue by 219.7% over the past year. This is strong growth.

Beyond Air, Inc. (XAIR) reported a net loss of $31.0M for fiscal year 2025.

Dividend & Returns

Beyond Air, Inc. (XAIR) has a return on equity (ROE) of -224.6%. Negative ROE indicates the company is unprofitable.

Beyond Air, Inc. (XAIR) had negative free cash flow of $22.1M in fiscal year 2025, likely due to heavy capital investments.

Explore More XAIR

Beyond Air, Inc. (XAIR) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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