Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Beyond Air, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Revenue
7.72
1.39
0.87
1.16
3.71
7.68
Cost of revenue
0.56
2.47
5.37
7.43
Gross profit
-0.56
-1.31
-1.66
0.25
Research and development
4.44
4.64
3.93
10.6
12.6
11.8
16.8
24.4
16.9
10.2
Selling, general and administrative
37.3
26
19.1
General and administrative
6.63
5.31
6.85
8.88
10.5
18.4
34.7
37.3
Operating expenses
40.7
51.5
61.7
42.9
29.3
Operating income
-11.1
9.94
-3.06
-18.1
-22.2
-40.7
-52.1
-63
-44.5
-29
Interest expense
0.01
0
0.03
0.64
0.78
0.03
2.91
3.02
3.52
Interest income
1.74
0.71
Other non-operating income
-6.98
-0.77
-3.5
-1.95
-0.66
-3.35
-7.34
-1.29
-3.94
-5.29
Pre-tax income
18
-6.59
-20.1
-22.9
-44.1
-59.4
-64.3
-48.5
-34.3
Income tax
-0.15
Net income to minority interests
-0.88
-3.59
-4.05
-1.85
-1.09
Net income
-18
-10.7
-6.56
-19.9
-22.9
-43.2
-55.8
-60.2
-46.6
-33.2
EBITDA
-11
9.99
-2.99
-18.1
-22
-40.4
-51.5
-61.2
-41.5
-25.9
EPS, basic
-60.07
-33.53
-15.37
-35.52
-25.34
-33.53
-37.12
-36.32
-13.77
-4.01
EPS, diluted
-60.07
-33.53
-15.37
-35.52
-25.34
-33.53
-37.12
-36.32
-13.77
-4.01
Shares, basic (weighted)
0.3
0.32
0.43
0.58
902
1.29
1.5
1.66
3.39
8.3
Shares, diluted (weighted)
0.3
0.32
0.43
0.58
0.9
1.29
1.5
1.66
3.39
8.3
Balance sheet
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Cash and equivalents
1.2
0.73
1.34
19.8
34.6
80.2
29.2
11.4
4.67
6.74
Short-term investments
0.61
8.3
6.54
16.7
23.1
2.25
4.9
Receivables
0.43
0.32
0.42
0.32
0.71
1.09
Inventory
0.35
1.13
2.13
2.42
1.41
Other current assets
0.05
0.01
0.79
1.15
1.53
2.04
4.37
6.79
0.2
0.19
Total current assets
1.92
9.1
8.69
26.7
37.2
92.9
59.4
43.9
16
24.8
Property, plant and equipment
0.27
0.25
0.24
0.21
0.93
2
5
9.36
11
8.25
Lease right-of-use assets
0.2
1.86
2.22
2.49
2.12
1.71
1.19
Intangible assets
0.35
1.84
1.63
1.43
1.22
1.02
Long-term investments
0
0
Other non-current assets
0.14
0.21
0.21
0.11
0.1
0.16
Total assets
2.19
9.36
9.43
27.4
40.5
99.2
68.7
57
30.1
35.4
Accounts payable
0.67
0.84
1.16
2.26
1.33
1.13
2.02
1.95
1.95
2.42
Accrued liabilities
0.45
1.26
1.57
1.1
1.81
8.37
16.6
Deferred revenue
2.26
0.87
0.78
Total current liabilities
1.4
2.13
5.4
4.87
3.8
10.7
19.8
11.6
5
6.51
Lease liabilities
0.13
1.79
2.08
2.32
1.9
1.49
1.02
Other non-current liabilities
4.5
Total liabilities
10.6
5.68
5.4
9.34
10.1
21
26.7
29.8
15.7
29.2
Total debt
4.47
0.2
0.2
17.5
Paid-in capital
23.3
32.1
41.7
75.7
111
196
217
265
300
326
Retained earnings
-31.6
-30.6
-37.6
-57.6
-80.5
-124
-179
-240
-286
-320
Treasury stock
-0.03
-0.03
-0.03
-0.03
-0.03
-0.03
-0.03
-0.03
-0.03
-0.03
Other comprehensive income
0
-0
0.1
0.05
-0.02
-0.06
0.13
Shareholders' equity
-8.38
1.54
4.02
18.1
30.5
72.7
37.9
25
13.6
6.13
Minority interests
5.51
4.11
2.14
0.76
0.08
Total equity
-8.38
1.54
4.02
18.1
30.5
78.2
42
27.2
14.3
6.21
Total liabilities and equity
2.19
9.36
9.43
27.4
40.5
99.2
68.7
57
30.1
35.4
Shares outstanding
0.31
0.42
0.44
0.8
1.09
1.5
1.54
2.3
4.13
0.59
Cash flow statement
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
FY2026
Net income
-18
-10.7
-6.56
-19.9
-22.9
-44.1
-59.4
-64.3
-48.5
-34.3
Depreciation and amortization
0.04
0.05
0.06
0.08
0.17
0.31
0.6
1.8
3
3.1
Stock-based compensation
4.38
0.57
2.4
3.58
4.9
7.83
19.6
21.3
9.15
5.28
Change in receivables
-0.43
0.1
-0.1
-0.32
-0.39
-0.47
Change in inventory
-0.78
-1
-0.47
1.11
Change in payables
-0.33
0.84
-0.47
0.4
0.27
Cash from operations
-7.12
-8.69
1.34
-15.3
-19.6
-23.1
-33
-56
-38.2
-18.1
Capital expenditures
-0.24
-0.22
-0.06
-0.04
-0.89
-1.38
-3.88
-5.75
-5.88
-1.03
Acquisitions
-0.29
Purchases of investments
-2
-8.3
-12.2
-37.3
-35.7
-30.9
-4.05
Sales and maturities of investments
1.4
10.5
41.8
18.9
122
51.7
1.4
Cash from investing
-1.14
-8.52
-1.79
4.42
-0.89
-1.45
-20.6
-12.2
14.9
-3.67
Stock issued
0
0.8
0.21
0
25.2
0.22
18.9
4.5
Share buybacks
-0.03
Cash from financing
9.46
10.8
1.07
34.9
30.3
79.5
2.7
43.2
16.6
29.1
Net change in cash
1.2
-6.4
0.62
24.1
9.8
55
-50.9
-25.2
-6.71
7.47
Free cash flow
-7.36
-8.91
1.28
-15.3
-20.5
-24.5
-36.9
-61.8
-44.1
-19.2
Interest paid
0.02
0.51
0.34
0.04
1.76
1.2
0.42
Income taxes paid
0.07
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $2.85 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
4.2%
Gross profit / revenue.
Operating margin
-364.8%
Operating income / revenue.
EBITDA margin
-323.1%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-447.6%
Pre-tax income / revenue.
Net margin
-435.7%
Net income / revenue.
FCF margin
-255.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-241.5%
Cash from operations / revenue.
Return on equity (ROE)
-1,677.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-101.8%
Net income / average total assets.
R&D / revenue
118.6%
Research and development expense / revenue.
SG&A / revenue
250.4%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
61.7%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
13.5%
Capital expenditures / revenue.
D&A / revenue
41.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
107.3%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 5y
54.5%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-54.9%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-45.5%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-27.4%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
17.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-19.9%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-2.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
145.2%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
76.8%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
55.9%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
3.31x
Current assets / current liabilities.
Quick ratio
1.59x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.42x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$46.43
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$10.66
Revenue / diluted weighted shares.
FCF per share
-$27.17
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$25.74
Cash from operations / diluted weighted shares.
Book value per share
$2.69
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.36x
Market cap / revenue.
P/B
1.37x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.37x
Market cap / tangible book value, when positive.
FCF yield
-718.1%
Free cash flow / market cap.
Earnings yield
-1,227.0%
Net income / market cap (the inverse of P/E).
What was Beyond Air, Inc.'s revenue in fiscal 2026?
Beyond Air, Inc. reported revenue of $7.7M for fiscal 2026, 107.3% higher than the year before.
Was Beyond Air, Inc. profitable in fiscal 2026?
No. It reported a net loss of $33.2M.
How much free cash flow did Beyond Air, Inc. generate in fiscal 2026?
Cash from operations of $18.1M minus capital expenditures of $1.0M left free cash flow of -$19.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.