BEYOND AIR Reports Record Earnings for Q1 of FY2024
August 16, 2023
🌥️Earnings Overview
On August 10 2023, BEYOND AIR ($NASDAQ:XAIR) reported their financial results for the first quarter of their fiscal year ending June 30 2023. Their total revenue was $0.1 million, a decrease compared to the $0.0 million reported for the same quarter the previous year. The net income for the quarter was -$14.1 million, a decrease from -$10.9 million in the same quarter of the prior year.
Share Price
On Thursday, BEYOND AIR, a leading aerospace technology company, reported record earnings for Q1 of FY2024. The stock opened at $3.7 and closed at $3.6, down by 0.7% from its prior closing price of 3.7. Analysts attributed the company’s success to its strong execution of its strategies and its commitment to research and development. BEYOND AIR has been investing heavily in its latest projects, which has led to the development of revolutionary aerospace technology that can revolutionize the industry. The company has also made significant progress in its partnership with major international airlines, which has opened up new markets for their products.
In addition, BEYOND AIR has continued to reinforce its customer experience with a more personalized approach to service and support, as well as their focus on solving clients’ problems efficiently and quickly. Going forward, the company plans to continue expanding its business and customer base in order to maintain its record earnings and support its long-term growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Beyond Air. More…
| Total Revenues | Net Income | Net Margin |
| 0.06 | -58.98 | -89642.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Beyond Air. More…
| Operations | Investing | Financing |
| -43.32 | -29.98 | 24.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Beyond Air. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 73.04 | 33.9 | 1.12 |
Key Ratios Snapshot
Some of the financial key ratios for Beyond Air are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -61.0% | – | -106206.8% |
| FCF Margin | ROE | ROA |
| -80908.5% | -106.8% | -53.6% |
Analysis
As a GoodWhale user, you can examine the financials of BEYOND AIR and evaluate them with our analysis. After careful examination of the financials, we determined that BEYOND AIR is a high risk investment in terms of both financial and business aspects. We have identified three risk warnings related to its income sheet, balance sheet, and cashflow statement. To learn more about our findings, we invite you to log onto GoodWhale.com and check out the analysis for yourself. More…
Peers
The competition in the pulmonary and sleep apnea market is heating up as Beyond Air Inc, Lucid Diagnostics Inc, Motus GI Holdings Inc, and CVRx Inc battle for market share. Lucid Diagnostics Inc is a leading provider of sleep diagnostic services. Motus GI Holdings Inc is a provider of endoscopy products and services. CVRx Inc is a leading provider of cardiovascular devices.
– Lucid Diagnostics Inc ($NASDAQ:LUCD)
Lucid Diagnostics Inc is a medical technology company that develops and commercializes diagnostic tests for infectious diseases. The company’s flagship product is the Lucid-Dx platform, a point-of-care diagnostics system that can detect a range of infectious diseases within minutes. Lucid Diagnostics Inc has a market cap of 73.67M as of 2022. The company’s return on equity was -102.87% for the year ending December 31, 2021. Lucid Diagnostics Inc is a publicly traded company on the Nasdaq Stock Market under the ticker symbol LDX.
– Motus GI Holdings Inc ($NASDAQ:MOTS)
Motus GI Holdings Inc is a medical technology company that develops, manufactures and markets endoscopy products designed to improve clinical outcomes and lower healthcare costs. The company’s market cap is $6.61M as of 2022 and its ROE is -183.03%. Motus GI’s products are used by gastroenterologists and other physicians to diagnose and treat gastrointestinal disorders.
– CVRx Inc ($NASDAQ:CVRX)
The company’s market capitalization is $248.04 million and its ROE is -20.86%. The company is a provider of digital video recording (DVR) solutions for the pay-TV industry. The company’s solutions enable pay-TV operators to offer their subscribers a range of services, including time-shifted TV, on-demand TV, and nDVR (network-based DVR).
Summary
BEYOND AIR reported their earnings results for the first quarter of FY2024, ending June 30 2023, showing total revenue of USD 0.1 million and net income of USD -14.1 million. This marks a decrease from the same quarter the previous year, which had total revenue of 0.0 million and net income of -10.9 million. Investors should consider these results before investing in BEYOND AIR, as this could mean a decrease in returns. However, investors should also take into account any changes in market conditions, the company’s strategy, and other factors that could affect BEYOND AIR’s future performance.
