v3.26.3
SEGMENTS
 6 Months Ended
Sep. 30, 2026
Segment Reporting [Abstract]  
SEGMENTS

NOTE 11 SEGMENTS

 

During the six months ended September 30, 2026, NeuroNOS issued and sold 1,411,155 additional common shares, par value $0.001 to certain investors pursuant to a subscription agreement at a purchase price of $3.00 per share. Transaction costs were approximately $0.2 million. As of September 30, 2026, the Company retained 68.4% of the equity in NeuroNOS, with minority interest holding 31.6% ownership of NeuroNOS.

 

The following table summarizes segment financial performance by business segment for the three months ended September 30, 2026:

 

(in thousands)  Beyond Air   Beyond Cancer   NeuroNOS   Total 
Capital expenditures  $751   $-   $-   $751 
                     
Revenues  $2,324   $-   $-   $2,324 
Cost of revenues   2,127    -    -    2,127 
Research and development   1,262    41    278    1,581 
Selling, general, and administrative   3,509    169    913    4,591 
Loss from operations   (4,574)   (210)   (1,191)   (5,975)
Interest and finance expense   (1,504)   -    -    (1,504)
Other non-operating income/(expense)   (785)   18    71    (696)
Net loss before income taxes  $(6,863)  $(192)  $(1,120)  $(8,175)
Operating activities included in net loss:                    
Depreciation and amortization  $845   $1   $

1

   $847 
Stock-based compensation expense  $349   $65   $12   $426 
                     
Cash used in operations  $(4,145)  $(85)  $(1,338)  $(5,568)
Cash used in investing   (2,190)   81    -    (2,109)
Cash provided by financing   8,936    -    753    9,689 
Impact of exchange rates   28    -    (69)   (41)
Net change for the period  $2,629   $(4)  $(654)  $1,971 

 

The following table summarizes segment financial performance by business segment for the six months ended September 30, 2026:

 

(in thousands)  Beyond Air   Beyond Cancer   NeuroNOS   Total 
Capital expenditures  $957   $-   $2   $959 
                     
Revenues  $4,092   $-   $-   $4,092 
Cost of revenues   3,670    -    -    3,670 
Research and development   3,009    95    436    3,540 
Selling, general, and administrative   7,172    358    1,939    9,469 
Loss from operations   (9,759)   (453)   (2,375)   (12,587)
Interest and finance expense   (2,996)   -    -    (2,996)
Other non-operating income/(expense)   (886)   59    81    (746)
Net loss before income taxes  $(13,641)  $(394)  $(2,294)  $(16,329)
Operating activities included in net loss:                    
Depreciation and amortization  $1,640   $3   $1   $1,644 
Stock-based compensation expense  $681   $131   $650   $1,462 
                     
Cash used in operations  $(8,500)  $(254)  $(1,760)  $(10,514)
Cash provided by (used in) investing   (1,863)   217    (2)   (1,648)
Cash provided by financing   8,766    -    3,981    12,747 
Impact of exchange rates   18    (60)   (20)   (62)
Net change for the period  $(1,579)  $(97)  $2,199   $523 

 

 

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

 

NOTE 11 SEGMENTS (continued)

 

The following table summarizes segment financial performance by business segment for the three months ended September 30, 2025:

 

(in thousands)  Beyond Air   Beyond Cancer   NeuroNOS   Total 
Capital expenditures  $246   $-   $-   $246 
                     
Revenues  $1,818   $-   $-   $1,818 
Cost of revenues   2,116    -    -    2,116 
Research and development   1,696    379    375    2,450 
Selling, general, and administrative   3,734    760    419    4,913 
Loss from operations   (5,728)   (1,139)   (794)   (7,661)
Interest and finance expense   (639)   -    -    (639)
Other non-operating income/(expense)   24    13    5    42 
Net loss before income taxes  $(6,343)  $(1,126)  $(789)  $(8,258)
Operating activities included in net loss:                    
Depreciation and amortization  $810   $10   $-   $820 
Stock-based compensation expense  $1,174   $521   $80   $1,775 
                     
Cash used in operations  $(3,473)  $(273)  $(707)  $(4,453)
Cash used in investing   (246)   486    -    240 
Cash from financing   8,418    -    500    8,918 
Impact of exchange rates   11    3    4    18 
Net change for the period  $4,710   $216   $(203)  $4,723 

 

The following table summarizes segment financial performance by business segment for the six months ended September 30, 2025:

 

(in thousands)   Beyond Air     Beyond Cancer     NeuroNOS     Total  
Capital expenditures   $ 445     $ -     $  -     $ 445  
                                 
Revenues   $ 3,578     $ -     $ -     $ 3,578  
Cost of revenues     3,720       -       -       3,720  
Research and development     3,930       908       698       5,536  
Selling, general, and administrative     7,062       1,712       826       9,600  
Loss from operations     (11,134 )     (2,620 )     (1,524 )     (15,278 )
Interest and finance expense     (1,187 )     -       -       (1,187 )
Other non-operating income/(expense)     134       (12 )     7       129  
Net loss before income taxes   $ (12,187 )   $ (2,632 )   $ (1,517 )   $ (16,336 )
Operating activities included in net loss:                                
Depreciation and amortization   $ 1,605     $ 20     $ -     $ 1,625  
Stock-based compensation expense   $ 2,175     $ 1,033     $ 144     $ 3,352  
                                 
Cash used in operations   $ (7,228 )   $ (712 )   $ (1,039 )   $ (8,979 )
Cash provided by investing     (31 )     847       -       816  
                                 
Cash provided by financing     12,484       -       500       12,984  
Impact of exchange rates     159       34       (48 )     145  
Net change for the period   $ 5,384     $ 169     $ (587 )   $ 4,966  

 

The following table summarizes financial information by business segment at September 30, 2026:

 

(in thousands)  Beyond Air   Beyond Cancer   NeuroNOS   Total 
Cash, cash equivalents and marketable securities  $10,323   $726   $2,656   $13,705 
All other assets   22,471    (289)   368    22,550 
Total assets  $32,794   $437   $3,024   $36,255 
Total liabilities   (29,057)   (315)   (759)   (30,131)
Net assets  $3,737   $122   $2,265   $6,124 
Non-controlling interest  $-   $9   $788   $797 

 

The following table summarizes financial information by business segment at March 31, 2026:

 

(in thousands)  Beyond Air   Beyond Cancer   NeuroNOS   Total 
Cash, cash equivalents and marketable securities  $10,140   $1,043   $458   $11,641 
All other assets   23,901    (219)   62    23,744 
Total assets  $34,041   $824   $520   $35,385 
Total liabilities   (28,224)   (378)   (573)   (29,175)
Net assets  $5,817   $446   $(53)  $6,210 
Non-controlling interest  $-   $64   $20   $84