Beyond Air, Inc. (XAIR) Balance Sheet
XAIR balance sheet, FY2026
March 31, 2026 · U.S. dollars$35.4M assets = $29.2M liabilities + $6.2M equity
Both columns are drawn to the same scale: what XAIR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XAIR financial health
Descriptive bands, not a rating. Fiscal FY2026.
XAIR balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5,944FY2017 | $35.4MFY2026 | +162.7%/yr | |
| Total liabilities | $31,104FY2017 | $29.2MFY2026 | +113.9%/yr | |
| Shareholders’ equity | −$25,160FY2017 | $6.1MFY2026 | — | |
| Cash & short-term investments | $5,918FY2017 | $11.6MFY2026 | +132.3%/yr | |
| Total debt | $2.9MFY2017 | $23.4MFY2026 | +26.0%/yr | |
| Net cash (debt) | −$2.9MFY2017 | −$11.7MFY2026 | −$8.8M | |
| Working capital | −$25,160FY2017 | $18.3MFY2026 | +$18.3M | |
| Current ratio | 0.19FY2017 | 3.80FY2026 | +3.61 | |
| Debt / equity | 0.02FY2018 | 3.82FY2026 | +3.80 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XAIR assets
XAIR liabilities and equity
XAIR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XAIR balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $11.6M | $6.9M | $34.5M | $45.9M | $80.2M | $34.6M | $19.8M | $7.9M | $9.0M | $5,918 |
| Cash & equivalents | $6.7M | $4.7M | $11.4M | $29.2M | $80.2M | $34.6M | $19.8M | $1.3M | $732,542 | $5,918 |
| Short-term investments | $4.9M | $2.3M | $23.1M | $16.7M | $0 | — | $0 | $6.5M | $8.3M | — |
| Receivables | $1.2M | $860,000 | $548,000 | $651,000 | $604,000 | $425,000 | $124,127 | $47,889 | $109,000 | $78,000 |
| Inventory | $1.4M | $2.4M | $2.1M | $1.1M | $350,000 | $1.9M | $6.5M | $638,942 | −$52,000 | −$26 |
| Other current assets | $10.5M | $5.8M | $6.8M | $11.7M | $11.7M | $287,000 | $131,728 | $118,512 | $7,941 | $0 |
| Total current assets | $24.8M | $16.0M | $43.9M | $59.4M | $92.9M | $37.2M | $26.6M | $8.7M | $9.1M | $5,944 |
| Property, plant & equipment (net) | $9.4M | $12.7M | $11.5M | $7.5M | $4.2M | $2.8M | $407,064 | $244,872 | $253,184 | $61,000 |
| Goodwill & intangible assets | $1.0M | $1.2M | $1.4M | $1.6M | $1.8M | $375,000 | $412,763 | $495,000 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $158,000 | $103,000 | $113,000 | $211,000 | $207,000 | $138,000 | $0 | $0 | $0 | $0 |
| Total assets | $35.4M | $30.1M | $57.0M | $68.7M | $99.2M | $40.5M | $27.4M | $9.4M | $9.4M | $5,944 |
| Liabilities | ||||||||||
| Accounts payable | $2.4M | $1.9M | $1.9M | $2.0M | $1.1M | $1.3M | $2.3M | $1.2M | $842,039 | $634 |
| Short-term debt | $722,000 | $1.0M | $1.2M | $1.2M | $1.2M | $670,000 | $404,700 | $263,604 | $33,124 | $30,000 |
| Deferred revenue | — | — | $138,000 | $16.6M | $8.4M | $1.8M | $873,190 | $2.3M | — | $1.1M |
| Total current liabilities | $6.5M | $5.0M | $11.6M | $19.8M | $10.7M | $3.8M | $4.9M | $5.4M | $2.1M | $31,104 |
| Long-term debt | $21.6M | $9.2M | $14.7M | $4.6M | $8.2M | $4.5M | $4.3M | $0 | $0 | $2.9M |
| Lease obligations | $1.3M | $1.9M | $2.3M | $2.7M | $2.4M | $1.9M | $200,923 | — | — | — |
| Other long-term liabilities | $1.0M | $1.5M | $3.5M | $2.3M | $2.1M | $1.8M | $131,576 | $3.7M | $5.7M | $0 |
| Total liabilities | $29.2M | $15.7M | $29.8M | $26.7M | $21.0M | $10.1M | $9.3M | $5.4M | $7.8M | $31,104 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1,000 | $8,000 | $5,000 | $3,000 | $3,000 | $2,000 | $1,606 | $871 | $840 | $1,032 |
| Retained earnings (deficit) | −$319.6M | −$286.3M | −$239.7M | −$179.5M | −$123.6M | −$80.5M | −$57.6M | −$37.6M | −$30.6M | −$30,260 |
| Treasury stock | — | — | — | −$25,000 | −$25,000 | −$25,000 | −$25,000 | −$25,000 | −$25,000 | — |
| Accumulated other comprehensive income | $134,000 | −$60,000 | −$15,000 | $53,000 | $96,000 | $1,000 | $0 | $0 | −$2,986 | −$16,000 |
| Minority interest | $84,000 | $758,000 | $2.1M | $4.1M | $5.5M | — | — | — | — | — |
| Total shareholders' equity | $6.1M | $13.6M | $25.0M | $42.0M | $78.2M | $30.5M | $18.1M | $4.0M | $1.5M | −$25,160 |
| Key figures | ||||||||||
| Total debt | $23.4M | $11.7M | $17.8M | $5.8M | $9.4M | $6.9M | $4.9M | $263,604 | $33,124 | $2.9M |
| Net cash (debt) | −$11.7M | −$4.8M | $16.6M | $40.1M | $70.8M | $27.7M | $15.0M | $7.6M | $9.0M | −$2.9M |
| Working capital | $18.3M | $11.0M | $32.4M | $39.6M | $82.2M | $33.4M | $21.7M | $3.3M | $7.0M | −$25,160 |
| Tangible book value | $5.1M | $12.4M | $23.6M | $40.4M | $76.4M | $30.1M | $17.7M | $3.5M | $1.5M | −$25,160 |
| Current ratio | 3.80 | 3.20 | 3.80 | 3.00 | 8.68 | 9.80 | 5.46 | 1.61 | 4.27 | 0.19 |
| Quick ratio | 1.97 | 1.56 | 3.03 | 2.35 | 7.55 | 9.23 | 4.10 | 1.47 | 4.29 | 2.70 |
| Debt / equity | 3.82 | 0.86 | 0.71 | 0.14 | 0.12 | 0.23 | 0.27 | 0.07 | 0.02 | — |
| Equity / assets | 17.3% | 45.2% | 44.0% | 61.1% | 78.8% | 75.2% | 65.9% | 42.7% | 16.5% | −423.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $15.2M | $11.6M | $17.8M | $10.7M | $6.5M | $6.9M | $10.9M | $28.4M | $21.4M | $34.5M | $31.3M | $38.6M |
| Cash & equivalents | $10.9M | $6.7M | $12.8M | $9.7M | $5.0M | $4.7M | $4.6M | $28.4M | $4.2M | $11.4M | $8.0M | $13.2M |
| Short-term investments | $4.3M | $4.9M | $5.0M | $996,000 | $1.5M | $2.3M | $6.3M | $0 | $17.2M | $23.1M | $23.3M | $25.5M |
| Receivables | $1.2M | $1.2M | $1.3M | $970,000 | $1.0M | $860,000 | $724,000 | $1.0M | $654,000 | $548,000 | $534,000 | $428,000 |
| Inventory | $1.3M | $1.4M | $1.8M | $2.2M | $2.4M | $2.4M | $2.4M | $2.5M | $2.4M | $2.1M | $1.5M | $1.6M |
| Other current assets | $5.1M | $10.5M | $4.7M | $4.7M | $5.1M | $5.8M | $5.3M | $6.1M | $6.5M | $6.8M | $6.1M | $6.5M |
| Total current assets | $22.8M | $24.8M | $25.6M | $18.6M | $15.0M | $16.0M | $19.3M | $38.0M | $30.9M | $43.9M | $39.4M | $47.1M |
| Property, plant & equipment (net) | $9.0M | $9.4M | $10.0M | $11.0M | $11.8M | $12.7M | $13.4M | $13.5M | $14.1M | $11.5M | $10.8M | $9.1M |
| Goodwill & intangible assets | $966,000 | $1.0M | $1.1M | $1.1M | $1.2M | $1.2M | $1.3M | $1.3M | $1.4M | $1.4M | $1.5M | $1.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $94,000 | $158,000 | $175,000 | $306,000 | $112,000 | $103,000 | $98,000 | $104,000 | $111,000 | $113,000 | $214,000 | $225,000 |
| Total assets | $32.9M | $35.4M | $36.8M | $31.0M | $28.1M | $30.1M | $34.1M | $53.0M | $46.5M | $57.0M | $51.9M | $58.0M |
| Liabilities | ||||||||||||
| Accounts payable | $2.5M | $2.4M | $2.2M | $1.9M | $1.2M | $1.9M | $2.4M | $1.5M | $3.1M | $1.9M | $3.2M | $3.3M |
| Short-term debt | $454,000 | $722,000 | $386,000 | $413,000 | $647,000 | $1.0M | $441,000 | $639,000 | $965,000 | $1.2M | $538,000 | $666,000 |
| Deferred revenue | $742,000 | — | $841,000 | $908,000 | $921,000 | — | — | $17,000 | $5.6M | $138,000 | — | — |
| Total current liabilities | $6.9M | $6.5M | $5.0M | $4.4M | $4.6M | $5.0M | $5.4M | $6.6M | $11.8M | $11.6M | $11.6M | $12.5M |
| Long-term debt | $22.2M | $21.6M | $22.0M | $12.2M | $11.6M | $9.2M | $0 | $10.9M | $14.9M | $14.7M | $14.4M | $14.0M |
| Lease obligations | $1.2M | $1.3M | $1.6M | $1.7M | $1.8M | $1.9M | $1.9M | $2.1M | $2.2M | $2.3M | $2.4M | $2.5M |
| Other long-term liabilities | $978,000 | $1.0M | $1.5M | $1.3M | $1.4M | $1.5M | $10.3M | $6.2M | $2.1M | $3.5M | $2.4M | $2.7M |
| Total liabilities | $30.1M | $29.2M | $28.5M | $17.9M | $17.7M | $15.7M | $15.8M | $23.7M | $28.8M | $29.8M | $28.4M | $29.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $1,000 | $1,000 | $1,000 | — | $8,000 | $7,000 | $7,000 | $5,000 | $5,000 | $4,000 | $3,000 |
| Retained earnings (deficit) | −$327.5M | −$319.6M | −$309.3M | −$302.0M | −$294.0M | −$286.3M | −$278.3M | −$265.3M | −$251.9M | −$239.7M | −$226.0M | −$209.8M |
| Accumulated other comprehensive income | $113,000 | $134,000 | $110,000 | $85,000 | $67,000 | −$60,000 | −$51,000 | $9,000 | $88,000 | −$15,000 | $34,000 | $43,000 |
| Minority interest | $842,000 | $84,000 | $175,000 | $362,000 | $481,000 | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.0M | $6.1M | $8.1M | $12.7M | $9.9M | $13.6M | $17.6M | $28.1M | $16.1M | $25.0M | $20.8M | $25.7M |
| Key figures | ||||||||||||
| Total debt | $23.6M | $23.4M | $24.8M | $13.9M | $13.7M | $11.7M | $2.0M | $13.3M | $17.7M | $17.8M | $16.9M | $16.8M |
| Net cash (debt) | −$8.4M | −$11.7M | −$7.0M | −$3.2M | −$7.2M | −$4.8M | $8.9M | $15.2M | $3.7M | $16.6M | $14.3M | $21.8M |
| Working capital | $15.9M | $18.3M | $20.6M | $14.2M | $10.4M | $11.0M | $13.9M | $31.4M | $19.1M | $32.4M | $27.8M | $34.7M |
| Tangible book value | $1.0M | $5.1M | $7.0M | $11.6M | $8.8M | $12.4M | $16.4M | $26.8M | $14.8M | $23.6M | $19.3M | $24.2M |
| Book value per share | $2.77 | — | $18.83 | $40.06 | $39.59 | $60.38 | $80.13 | — | — | — | — | — |
| Shares outstanding | 721K | — | 431K | 318K | 251K | 225K | 220K | — | — | — | — | — |
| Current ratio | 3.31 | 3.80 | 5.12 | 4.24 | 3.24 | 3.20 | 3.56 | 5.76 | 2.63 | 3.80 | 3.39 | 3.78 |
| Quick ratio | 2.38 | 1.97 | 3.83 | 2.66 | 1.62 | 1.56 | 2.15 | 4.46 | 1.87 | 3.03 | 2.73 | 3.14 |
| Debt / equity | 11.82 | 3.82 | 3.06 | 1.09 | 1.38 | 0.86 | 0.11 | 0.47 | 1.10 | 0.71 | 0.81 | 0.65 |
| Equity / assets | 6.1% | 17.3% | 22.1% | 41.1% | 35.3% | 45.2% | 51.7% | 53.1% | 34.7% | 44.0% | 40.1% | 44.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed June 26, 2026); data from EODHD.
XAIR financial position
At the end of fiscal 2026 (March 31, 2026), Beyond Air had total assets of $35.4 million (up 17.7% from a year earlier), total liabilities of $29.2 million and shareholders' equity of $6.1 million. It held $11.6 million in cash and short-term investments against $23.4 million of debt, net debt of $11.7 million. Its current ratio was 3.80. In the latest quarter (ended June 30, 2026) total assets were $32.9 million and equity $2.0 million.
Related: XAIR income statement, XAIR cash flow statement, XAIR key metrics. See the XAIR stock overview for the latest quote and news.
XAIR balance sheet FAQ
What are Beyond Air's total assets?
Beyond Air reported total assets of $35.4 million at the end of fiscal 2026 (March 31, 2026), compared with $30.1 million a year earlier.
How much debt does Beyond Air have?
Beyond Air had $23.4 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.82.
How much cash does Beyond Air have?
Beyond Air held $11.6 million in cash and short-term investments at the end of fiscal 2026; with $23.4 million of debt that is net debt of $11.7 million.
What is Beyond Air's book value?
Beyond Air's shareholders' equity (book value) was $6.1 million at the end of fiscal 2026.
What is Beyond Air's current ratio?
Beyond Air had current assets of $24.8 million and current liabilities of $6.5 million, a current ratio of 3.80 (it can cover its short-term obligations).
How much goodwill does Beyond Air have?
Beyond Air carried $1.0 million of goodwill and intangible assets, 2.9% of total assets, at the end of fiscal 2026.