11 years of revenue, profit, cash flow and balance-sheet history through FY2026,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 54.5% per year over the past 5 years.
Operating margin has expanded, at -378.2% in the latest year.
Financial health
Total debt has grown faster than revenue (57.6% vs 54.5% per year).
Operating income covered interest expense -8.3× in the latest year.
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2026
$8M
-$33M
3.3%
-378.2%
-542.8%
-94.0%
-$19M
—
$7M
2025
$4M
-$47M
-44.9%
-1202.1%
-343.3%
-155.1%
-$44M
—
$5M
2024
$1M
-$60M
-112.8%
-5436.2%
-240.5%
-105.8%
-$62M
$18M
$11M
2023
—
-$56M
—
—
-147.2%
-81.2%
-$37M
$200000
$29M
2022
—
-$43M
—
—
-59.4%
-43.5%
-$25M
$200000
$80M
2021
$873000
-$23M
0.0%
-2544.6%
-75.1%
-56.4%
-$21M
$4M
$35M
2020
$1M
-$20M
0.0%
-1305.1%
-110.2%
-72.7%
-$15M
—
$20M
2019
$8M
-$7M
0.0%
-39.6%
-162.9%
-69.6%
$1M
—
$1M
2018
—
-$11M
—
—
-693.9%
-114.5%
-$9M
—
$732542
2017
—
-$18M
—
—
215.3%
-824.3%
-$7M
—
$1M
2016
—
-$4M
—
—
79.2%
-1576.3%
-$690000
—
$7000
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$2M
-$8M
12.7%
-374.0%
-397.3%
-24.1%
-$5M
—
$6M
Mar '26
$2M
-$10M
4.9%
-376.0%
-167.8%
-29.1%
-$5M
—
$7M
Dec '25
$2M
-$7M
13.7%
-300.6%
-90.4%
-19.9%
-$4M
—
$7M
Sep '25
$2M
-$8M
-16.4%
-421.4%
-62.4%
-25.6%
-$5M
—
$10M
Jun '25
$2M
-$8M
8.9%
-432.8%
-77.5%
-27.4%
-$5M
—
$5M
Mar '25
$1M
-$8M
-2.8%
-622.7%
-59.1%
-26.7%
-$8M
—
$5M
Dec '24
$1M
-$13M
-20.1%
-1021.6%
-73.9%
-38.2%
-$8M
$12M
$5M
Sep '24
$798000
-$13M
-135.8%
-1608.1%
-47.5%
-25.2%
-$15M
$13M
$28M
Jun '24
$683000
-$12M
-48.6%
-1988.3%
-75.6%
-26.2%
-$13M
$18M
$4M
Mar '24
$470000
-$14M
-109.1%
-2688.1%
-54.7%
-24.1%
-$13M
$18M
$11M
Dec '23
$391000
-$16M
-91.0%
-4338.4%
-77.9%
-31.2%
-$15M
$18M
$8M
Sep '23
$239000
-$16M
-80.8%
-7336.8%
-63.0%
-28.0%
-$16M
$18M
$13M
Jun '23
$59000
-$14M
-413.6%
-26906.8%
-39.8%
-19.3%
-$18M
$18M
$31M
Mar '23
—
-$20M
—
—
-53.2%
-29.3%
-$10M
$200000
$29M
Dec '22
—
-$13M
—
—
-25.0%
-17.2%
-$9M
—
$25M
Sep '22
—
-$12M
—
—
-20.4%
-14.6%
-$10M
—
$30M
Jun '22
—
-$11M
—
—
-16.5%
-11.9%
-$7M
$200000
$73M
Mar '22
—
-$20M
—
—
-27.5%
-20.2%
-$8M
$200000
$80M
Dec '21
—
-$8M
—
—
-9.1%
-7.8%
-$7M
$200000
$83M
Sep '21
—
-$9M
—
—
-21.2%
-16.1%
-$6M
$5M
$48M
Valuation over time
How the market has priced XAIR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-sales ratio has fallen from 323.6× (Apr '24) to 0.4× (Sep '26).
Price / sales (P/S)
P/S
Frequently asked questions
Is XAIR growing its revenue and profit?
Over the past 5 years, Beyond Air, Inc.'s revenue has grown 54.5% per year. These are computed facts, not advice.
How much debt does XAIR have?
As of FY2026, Beyond Air, Inc. reported — of total debt against $7M of cash; operating income covered interest expense -8.3×.
What is XAIR's profit margin?
In FY2026, gross margin was 3.3%, operating margin -378.2%, and net margin -433.0%.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.