XAIR Beyond Air, Inc. - Common Stock
NASDAQ · Health Care · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 13, 2026
$2.82
· of 52w range
· above low
· to high
$2.3852w low
$55.6052w high
Market Cap (MRQ)
$2M
P/E (TTM)
-0.2
EPS (TTM)
$-13.48
Revenue (TTM)
$8M
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52W Range
$2–$56
Analyst Rating
BUY
Price Target
$20
P/E
-0.2
ROE
-561.8%
Net Profit Margin
-435.7%
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XAIR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.82
Market Cap (MRQ)
$2M
P/E (TTM)
-0.2
EPS (TTM)
$-13.48
Revenue (TTM)
$8M
ROE (TTM)
-561.8%
52W Range
$2–$56
XAIR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| July 13, 2026 | 1-for-20 | Reverse |
| July 14, 2025 | 1-for-20 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$8M2019-03-31 → 2026-03-31
EPS$-4.012017-12-31 → 2026-03-31
Free Cash Flow$-19M2019-03-31 → 2026-03-31
Net margin-435.7%2017-12-31 → 2026-03-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | XAIR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -0.25Y avg ≈-24.9 | ≈-24.9 | · | · | |
| P/S (TTM) | 0.35Y avg ≈1861.7 | ≈1861.7 | 2.4 | Undervalued | |
| P/B (MRQ) | 1.05Y avg ≈52.5 | ≈52.5 | 0.3 | Undervalued | |
| Price / FCF (TTM) | -0.15Y avg ≈-62.4 | ≈-62.4 | · | · | |
| Price / Cash Flow (TTM) | -0.15Y avg ≈-67.8 | ≈-67.8 | · | · | |
| Price / Tangible Book | 0.35Y avg ≈55.3 | ≈55.3 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | XAIR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 4.2%5Y avg ≈-51.5% | ≈-51.5% | · | · | |
| Operating Margin (TTM) | -364.8%5Y avg ≈-2338.8% | ≈-2338.8% | -267.5% | Below avg | |
| EBITDA Margin | -378.2%5Y avg ≈-2338.8% | ≈-2338.8% | -267.5% | Below avg | |
| Pretax Margin (TTM) | -447.6%5Y avg ≈-2434.4% | ≈-2434.4% | -245.2% | Weak | |
| Net Profit Margin (TTM) | -435.7%5Y avg ≈-2296.4% | ≈-2296.4% | -118.9% | Weak | |
| ROA (TTM) | -109.8%5Y avg ≈-86.6% | ≈-86.6% | -99.4% | Weak | |
| ROE (TTM) | -561.8%5Y avg ≈-190.5% | ≈-190.5% | -169.3% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | XAIR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 3.35Y avg ≈4.5 | ≈4.5 | 1.4 | Strong liquidity | |
| Quick Ratio (MRQ) | 1.65Y avg ≈3.3 | ≈3.3 | 1.0 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | XAIR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 107.3% | · | · | · | |
| Revenue CAGR 3Y | 9.9% | · | · | · | |
| Revenue CAGR 5Y | 54.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | XAIR | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.25Y avg ≈0.1 | ≈0.1 | 0.2 | In line | |
| Inventory Turnover | 3.95Y avg ≈2.1 | ≈2.1 | 1.1 | Top tier | |
| Receivables Turnover | 8.65Y avg ≈7.7 | ≈7.7 | 6.4 | Top tier | |
| Revenue / Employee | ≈$142.2K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Beat Rate
50.0%
Avg Surprise
-4.5%
Next Report
Nov 09, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| March 31, 2027 | Aug 13, 2026 | $-11.00 | $-11.02 | 0.15% |
| Dec. 31, 2026 | Jun 15, 2026 | $-12.60 | $-11.56 | -9.0% |
| June 30, 2026 | Aug 13, 2026 | $-10.79 | $-11.22 | 3.8% |
| March 31, 2026 | $-12.60 | $-11.56 | -9.0% | |
| Dec. 31, 2025 | $-16.60 | $-16.68 | 0.46% | |
| Sept. 30, 2025 | $-25.00 | $-17.44 | -43.3% | |
| June 30, 2025 | $-30.60 | $-28.56 | -7.1% | |
| March 31, 2025 | $-36.00 | $-49.78 | 27.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8M | $4M | $1M | · | · | $873.0K | $1M | $8M | |
| Cost of Revenue | $7M | $5M | $2M | $555.0K | · | · | · | · | |
| Gross Profit | $252.0K | $-2M | $-1M | $-555.0K | · | · | · | · | |
| R&D Expense | $10M | $17M | $24M | $17M | $12M | $13M | $11M | $4M | |
| SG&A Expense | $19M | $26M | $37M | $35M | $18M | $10M | $9M | $7M | |
| Operating Expenses | $29M | $43M | $62M | $52M | $41M | · | · | · | |
| Operating Income | $-29M | $-45M | $-63M | $-52M | $-41M | $-22M | $-18M | $-3M | |
| Interest Expense | · | · | $3M | $30.0K | $775.0K | $642.0K | $30.5K | $1.5K | |
| Interest Income | $303.0K | $705.0K | · | · | · | · | · | · | |
| Other Non-op | $-14.0K | $9.0K | $-169.0K | $-7M | $-3M | $-661.0K | $-2M | $-3.0K | |
| Pretax Income | $-34M | $-48M | $-64M | $-59M | $-44M | $-23M | $-20M | $-7M | |
| Income Tax | · | · | · | · | · | · | $-154.3K | · | |
| Net Income | $-33M | $-47M | $-60M | $-56M | $-43M | $-23M | $-20M | $-7M | |
| EPS (Basic) | $-4.01 | $-13.77 | $-1.82 | $-1.86 | $-1.68 | $-1.27 | · | $-0.77 | |
| EPS (Diluted) | $-4.01 | $-13.77 | $-1.82 | $-1.86 | · | · | · | $-0.77 | |
| Shares (Basic) | 8,300,916 | 3,385,327 | 33,160,180 | 29,973,639 | 25,668,230 | 18,005,226,000 | · | 8,498,525 | |
| Shares (Diluted) | 8,300,916 | 3,385,327 | 33,160,180 | 29,973,639 | · | · | · | 8,498,525 | |
| EBITDA | $-29M | $-45M | $-63M | $-52M | $-40M | · | $-18M | $-3M |
Balance Sheet
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $7M | $5M | $11M | $29M | $80M | $35M | $20M | $1M | |
| Short-term Investments | $5M | $2M | $23M | $17M | · | · | · | $7M | |
| Receivables | $1M | $710.0K | $319.0K | · | $322.0K | $425.0K | · | · | |
| Inventory | $1M | $2M | $2M | $1M | $350.0K | · | · | · | |
| Prepaid Expense | $5M | $6M | $7M | $4M | $2M | $2M | $1M | $788.4K | |
| Other Current Assets | $190.0K | $203.0K | · | · | · | · | · | · | |
| Current Assets | $25M | $16M | $44M | $59M | $93M | $37M | $27M | $9M | |
| PP&E (Net) | $8M | $11M | $9M | $5M | $2M | $929.0K | $211.3K | $244.9K | |
| PP&E (Gross) | $16M | $17M | $12M | $6M | $3M | $1M | $491.0K | $447.4K | |
| Accum. Depreciation | $8M | $6M | $3M | $1M | $767.0K | $453.0K | $279.7K | $202.5K | |
| Intangibles | $1M | $1M | $1M | $2M | $2M | $346.0K | · | · | |
| Other Non-current Assets | $158.0K | $103.0K | $113.0K | $212.0K | $207.0K | $138.0K | · | · | |
| Total Assets | $35M | $30M | $57M | $69M | $99M | $41M | $27M | $9M | |
| Accounts Payable | $2M | $2M | $2M | $2M | $1M | $1M | $2M | $1M | |
| Accrued Liabilities | · | · | · | $17M | $8M | $2M | $1M | $2M | |
| Current Liabilities | $7M | $5M | $12M | $20M | $11M | $4M | $5M | $5M | |
| Capital Leases | $1M | $1M | $2M | $2M | $2M | $2M | $131.6K | · | |
| Other Non-current Liabilities | · | · | · | $4M | · | · | · | · | |
| Total Liabilities | $29M | $16M | $30M | $27M | $21M | $10M | $9M | $5M | |
| Long-term Debt | · | · | $18M | $200.0K | $200.0K | $4M | · | · | |
| Common Stock | · | · | $5.0K | $3.0K | $3.0K | $2.0K | $1.6K | $871 | |
| Paid-in Capital | $326M | $300M | $265M | $217M | $196M | $111M | $76M | $42M | |
| Retained Earnings | $-320M | $-286M | $-240M | $-179M | $-124M | $-80M | $-58M | $-38M | |
| Treasury Stock | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | |
| AOCI | $134.0K | $-60.0K | $-15.0K | $53.0K | $96.0K | · | · | · | |
| Stockholders' Equity | $6M | $14M | $25M | $38M | $73M | $30M | $18M | $4M | |
| Liabilities + Equity | $35M | $30M | $57M | $69M | $99M | $41M | $27M | $9M | |
| Shares Outstanding | 589,639 | 4,128,539 | 45,900,821 | 30,738,585 | 29,886,173 | 21,828,244 | 16,056,360 | 8,714,815 |
Cash Flow
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $2M | $600.0K | $314.0K | $173.0K | $77.2K | $64.8K | |
| Stock-based Comp | $5M | $9M | $21M | $20M | $8M | $5M | $4M | $2M | |
| Amort. of Intangibles | $204.0K | $205.0K | $205.0K | $205.0K | $38.0K | · | · | · | |
| Other Non-cash | · | · | · | · | $12M | · | $955.4K | $5M | |
| Operating Cash Flow | $-18M | $-38M | $-56M | $-33M | $-23M | $-20M | $-15M | $1M | |
| CapEx | $1M | $6M | $6M | $4M | $1M | $890.0K | $43.6K | $56.5K | |
| Investing Cash Flow | $-4M | $15M | $-12M | $-21M | $-1M | $-890.0K | $4M | $-2M | |
| Stock Issued | $4M | $19M | · | · | $25M | · | · | $799.2K | |
| Net Stock Activity | $4M | $19M | · | · | $25M | · | · | $799.2K | |
| Financing Cash Flow | $29M | $17M | $43M | $3M | $79M | $30M | $35M | $1M | |
| Net Change in Cash | $7M | $-7M | $-25M | $-51M | $55M | $10M | $24M | $618.9K | |
| Free Cash Flow | $-19M | $-44M | $-62M | $-37M | $-25M | · | $-15M | $1M | |
| Levered FCF | · | · | · | · | · | · | $-15M | · |
Profitability
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 3.3% | -44.9% | -112.8% | · | · | · | · | · | |
| Operating Margin | -378.2% | -1202.1% | -5436.2% | · | · | · | -1305.1% | -39.6% | |
| Net Margin | -433.0% | -1258.4% | -5197.8% | · | · | · | -1434.6% | -84.9% | |
| Pretax Margin | -447.1% | -1308.5% | -5547.4% | · | · | · | -1445.7% | · | |
| EBITDA Margin | -378.2% | -1202.1% | -5436.2% | · | · | · | -1293.6% | -38.8% | |
| ROA | -101.6% | -107.2% | -95.8% | -66.5% | -61.8% | · | -108.2% | -69.8% | |
| ROE | -337.4% | -241.4% | -191.4% | -100.9% | -81.3% | · | -132.5% | -202.4% | |
| ROIC | · | · | · | · | · | · | -101.0% | · |
Liquidity & Solvency
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.8 | 3.2 | 3.8 | 3.0 | 8.7 | · | 5.5 | 1.6 | |
| Quick Ratio | 2.0 | 1.5 | 3.0 | 2.3 | 7.5 | · | 4.1 | 1.5 | |
| Interest Coverage | · | · | -21.6 | -1735.3 | -52.5 | · | -594.0 | · |
Efficiency
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.1 | 0.0 | · | · | · | 0.1 | 0.8 | |
| Inventory Turnover | 3.9 | 2.4 | 1.5 | 0.8 | · | · | · | · | |
| Receivables Turnover | 8.6 | 7.2 | 7.3 | · | · | · | · | · |
Per Share
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.52 | $0.16 | $0.55 | $1.23 | $2.43 | · | $1.13 | $0.46 | |
| Revenue / Share | $0.93 | $0.05 | $0.04 | · | · | · | · | $0.91 | |
| Cash Flow / Share | $-2.19 | $-0.56 | $-1.69 | · | · | · | · | $0.16 | |
| Cash / Share | $0.57 | $0.06 | $0.25 | $0.95 | $2.69 | · | $1.24 | $0.15 | |
| EPS (TTM) | $-4.01 | $-0.69 | $-1.82 | $-1.86 | · | · | · | $-0.77 |
Growth Rates
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 107.3% | 219.7% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | · | · | 9.9% | · | · | · | · | · | |
| Revenue CAGR 5Y | 54.5% | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8M | $4M | $1M | $1M | $1M | $873.0K | $1M | $8M | |
| Net Income TTM | $-33M | $-47M | $-60M | $-56M | $-43M | $-23M | $-20M | $-7M | |
| Market Cap | $8M | $451M | $1.60B | $4.15B | $3.99B | · | $2.57B | $837M | |
| P/E | -0.2 | -7.9 | -19.1 | -72.6 | · | · | · | -124.7 | |
| P/S | 1.1 | 121.7 | 1378.2 | 3980.4 | 3827.3 | · | 1848.1 | 108.3 | |
| P/B | 1.3 | 33.2 | 63.8 | 109.4 | 54.9 | · | 142.0 | 207.9 | |
| P / Tangible Book | 1.6 | 36.5 | 67.6 | 114.4 | 56.3 | 79.7 | · | · | |
| P / Cash Flow | -0.4 | -11.8 | -28.5 | -125.7 | -172.5 | · | -168.5 | 623.9 | |
| P / FCF | -0.4 | -10.2 | -25.9 | -112.5 | -162.8 | · | -168.0 | 651.3 | |
| Earnings Yield | -581.2% | -12.6% | -5.2% | -1.4% | · | · | · | -0.80% |
Income Statement
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $798.0K | $683.0K | $470.0K | $391.0K | $239.0K | $59.0K | · | · | · | |
| Cost of Revenue | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $2M | $1M | $983.0K | $748.0K | $432.0K | $303.0K | $308.0K | $68.0K | $179.0K | |
| Gross Profit | $225.0K | $94.0K | $300.0K | $-298.0K | $156.0K | $-32.0K | $-215.0K | $-1M | $-332.0K | $-514.0K | $-356.0K | $-193.0K | $-244.0K | $-308.0K | $-68.0K | $-179.0K | |
| R&D Expense | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $5M | $6M | $6M | $7M | $7M | $5M | $4M | $5M | $4M | |
| SG&A Expense | $5M | $5M | $4M | $5M | $5M | $4M | $8M | $7M | $7M | $6M | $10M | $10M | $11M | $10M | $9M | $8M | |
| Operating Expenses | $7M | $7M | $7M | $7M | $8M | $7M | $11M | $12M | $13M | $12M | $17M | $17M | $16M | $14M | $14M | $12M | |
| Operating Income | $-7M | $-7M | $-7M | $-8M | $-8M | $-7M | $-11M | $-13M | $-14M | $-13M | $-17M | $-18M | $-16M | $-14M | $-14M | $-13M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | $919.0K | $914.0K | $158.0K | $-112.0K | $46.0K | $48.0K | |
| Interest Income | $103.0K | $114.0K | $102.0K | $59.0K | $28.0K | $68.0K | $126.0K | $150.0K | $361.0K | · | · | · | · | · | · | · | |
| Other Non-op | $-2M | $6.0K | $-162.0K | $48.0K | $-461.0K | $-1.0K | $-37.0K | $49.0K | $-2.0K | $-127.0K | $35.0K | · | $-77.0K | $-7M | $-52.0K | $88.0K | |
| Pretax Income | $-8M | $-10M | $-8M | $-8M | $-8M | $-8M | $-13M | $-14M | $-13M | $-15M | $-17M | $-17M | $-15M | · | · | · | |
| Net Income | $-8M | $-10M | $-7M | $-8M | $-8M | $-8M | $-13M | $-13M | $-12M | $-14M | $-16M | $-16M | $-14M | $-20M | $-13M | $-12M | |
| EPS (Basic) | $-11.00 | $-0.38 | $-0.85 | $-1.25 | $-30.67 | $0.18 | $-2.96 | $-5.67 | $-5.32 | $-0.36 | $-0.50 | $-0.51 | $-0.45 | $-0.66 | $-0.43 | $-0.40 | |
| EPS (Diluted) | $-11.00 | $-0.38 | $-0.85 | $-1.25 | $-30.67 | $0.18 | $-2.96 | $-5.67 | $-5.32 | $-0.36 | $-0.50 | $-0.51 | $-0.45 | $-0.66 | $-0.43 | $-0.40 | |
| Shares (Basic) | 721,328 | · | 8,616,860 | 6,356,573 | 250,747 | · | 4,403,726 | 2,355,927 | 2,295,042 | · | 32,462,476 | 31,800,492 | 31,382,986 | · | 29,921,254 | 29,898,825 | |
| Shares (Diluted) | 721,328 | · | 8,616,860 | 6,356,573 | 250,747 | · | 4,403,726 | 2,355,927 | 2,295,042 | · | 32,462,476 | 31,800,492 | 31,382,986 | · | 29,921,254 | 29,898,825 | |
| EBITDA | $-7M | · | $-7M | $-8M | $-8M | · | $-11M | $-13M | $-14M | · | $-17M | $-18M | $-16M | · | $-14M | $-13M |
Balance Sheet
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6M | $7M | $7M | $10M | $5M | $5M | $5M | $28M | $4M | $11M | $8M | $13M | $31M | $29M | $25M | $30M | |
| Short-term Investments | $4M | $5M | $5M | $996.0K | $1M | $2M | $6M | · | $17M | $23M | $23M | $25M | $26M | $17M | $28M | $33M | |
| Receivables | $1M | $1M | $1M | $892.0K | $804.0K | $710.0K | $639.0K | $556.0K | $475.0K | $319.0K | $294.0K | $205.0K | $44.0K | · | $355.0K | $235.0K | |
| Inventory | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | $955.0K | $711.0K | |
| Prepaid Expense | $5M | $5M | $5M | $5M | $5M | $6M | $5M | $6M | $6M | $7M | $6M | $1M | $2M | $4M | $2M | $2M | |
| Other Current Assets | $206.0K | $190.0K | $122.0K | · | · | $203.0K | · | · | · | · | · | · | · | · | · | · | |
| Current Assets | $23M | $25M | $26M | $19M | $15M | $16M | $19M | $38M | $31M | $44M | $39M | $47M | $63M | $59M | $66M | $75M | |
| PP&E (Net) | $8M | $8M | $9M | $9M | $10M | $11M | $12M | $12M | $12M | $9M | $9M | $7M | $5M | $5M | $4M | $3M | |
| PP&E (Gross) | $16M | $16M | $15M | $16M | $16M | $17M | $17M | $16M | $16M | $12M | $11M | $9M | $7M | $6M | $5M | $4M | |
| Accum. Depreciation | $8M | $8M | $7M | $7M | $6M | $6M | $5M | $4M | $4M | $3M | $2M | $2M | $2M | $1M | $1M | $855.0K | |
| Intangibles | · | $1M | · | · | · | $1M | · | · | · | · | $1M | $2M | $2M | · | · | · | |
| Other Non-current Assets | $94.0K | $158.0K | $175.0K | $306.0K | $112.0K | $103.0K | $100.0K | $105.0K | $112.0K | $113.0K | $213.0K | $224.0K | $226.0K | $212.0K | $211.0K | $205.0K | |
| Total Assets | $33M | $35M | $37M | $31M | $28M | $30M | $34M | $53M | $46M | $57M | $52M | $58M | $73M | $69M | $74M | $82M | |
| Accounts Payable | $2M | $2M | $2M | $2M | $1M | $2M | $2M | $1M | $3M | $2M | $3M | $3M | $2M | $2M | $1M | $2M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | $8M | $8M | $9M | · | $10M | $9M | |
| Current Liabilities | $7M | $7M | $5M | $4M | $5M | $5M | $5M | $7M | $12M | $12M | $12M | $12M | $12M | $20M | $12M | $12M | |
| Capital Leases | $977.0K | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Other Non-current Liabilities | · | · | · | $2M | $2M | · | · | · | · | · | · | · | $4M | $4M | · | · | |
| Total Liabilities | $30M | $29M | $28M | $18M | $18M | $16M | $16M | $24M | $29M | $30M | $28M | $29M | $34M | $27M | $19M | $18M | |
| Long-term Debt | · | · | · | · | · | · | $12M | $12M | $18M | · | $18M | $18M | $18M | · | · | · | |
| Common Stock | · | $1.0K | $1.0K | $1.0K | · | $8.0K | $7.0K | $7.0K | $5.0K | $5.0K | $4.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | |
| Paid-in Capital | $329M | $326M | $317M | $315M | $304M | $300M | $296M | $293M | $268M | $265M | $247M | $235M | $229M | $217M | $210M | $205M | |
| Retained Earnings | $-328M | $-320M | $-309M | $-302M | $-294M | $-286M | $-278M | $-265M | $-252M | $-240M | $-226M | $-210M | $-194M | $-179M | $-159M | $-147M | |
| Treasury Stock | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | $25.0K | |
| AOCI | $113.0K | $134.0K | $110.0K | $85.0K | $67.0K | $-60.0K | $-51.0K | $9.0K | $88.0K | $-15.0K | $34.0K | $43.0K | $78.0K | $53.0K | $159.0K | $438.0K | |
| Stockholders' Equity | $2M | $6M | $8M | $13M | $10M | $14M | $18M | $28M | $16M | $25M | $21M | $26M | $35M | $38M | $51M | $59M | |
| Liabilities + Equity | $33M | $35M | $37M | $31M | $28M | $30M | $34M | $53M | $46M | $57M | $52M | $58M | $73M | $69M | $74M | $82M | |
| Shares Outstanding | 743,418 | 11,792,684 | 8,404,354 | 8,009,488 | 4,693,284 | 4,128,539 | 74,328,645 | 72,187,636 | 45,900,821 | 45,900,821 | 35,478,123 | 31,972,434 | 31,711,317 | 30,738,585 | 30,013,907 | 29,911,207 |
Cash Flow
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $800.0K | $700.0K | $800.0K | $800.0K | $800.0K | $700.0K | $800.0K | $800.0K | $700.0K | $691.0K | $400.0K | $400.0K | $309.0K | $179.0K | $200.0K | $100.0K | |
| Stock-based Comp | $1M | $427.0K | $2M | $2M | $2M | $159.0K | $2M | $3M | $3M | $2M | $6M | $6M | $6M | $4M | $6M | $5M | |
| Amort. of Intangibles | $51.0K | $51.0K | $51.0K | $51.0K | $51.0K | $51.0K | $52.0K | $51.0K | $51.0K | $51.0K | $52.0K | $50.0K | $52.0K | $51.0K | $52.0K | $33.0K | |
| Operating Cash Flow | $-5M | $-5M | $-4M | $-4M | $-5M | $-7M | $-8M | $-13M | $-10M | $-11M | $-14M | $-14M | $-17M | $-8M | $-9M | $-9M | |
| CapEx | $208.0K | $547.0K | $34.0K | $246.0K | $198.0K | $1M | $537.0K | $1M | $3M | $2M | $1M | $2M | $795.0K | $2M | $634.0K | $963.0K | |
| Investing Cash Flow | $461.0K | $-447.0K | $-4M | $240.0K | $576.0K | $3M | $-7M | $16M | $3M | $-2M | $853.0K | $-2M | $-10M | $9M | $4M | $-34M | |
| Debt Issued | · | · | · | · | · | · | · | $0 | $100.0K | · | · | · | · | · | · | · | |
| Net Debt Issued | · | · | · | · | · | · | · | · | $100.0K | · | · | · | · | · | · | · | |
| Stock Issued | · | $4M | · | · | · | $0 | $0 | · | · | · | $-6M | $-6M | $6M | · | $0 | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | $6M | · | · | · | |
| Financing Cash Flow | $3M | $5M | $11M | $9M | $4M | $4M | $-9M | $22M | $-264.0K | $16M | $5M | $469.0K | $22M | $3M | $-310.0K | $133.0K | |
| Net Change in Cash | $-1M | $-468.0K | $3M | $5M | $243.0K | $64.0K | $-24M | $24M | $-7M | $3M | $-8M | $-16M | $-5M | $4M | $-4M | $-43M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $23.0K | · | |
| Free Cash Flow | $-5M | · | · | · | $-5M | · | · | · | $-13M | · | · | · | $-18M | · | · | · |
Profitability
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.7% | · | 13.7% | -16.4% | 8.9% | · | -20.1% | -135.8% | -48.6% | · | -91.0% | -80.8% | -413.6% | · | · | · | |
| Operating Margin | -374.0% | · | -300.6% | -421.4% | -432.8% | · | -1021.6% | -1608.1% | -1988.3% | · | -4338.4% | -7336.8% | -26906.8% | · | · | · | |
| Net Margin | -448.8% | · | -334.4% | -436.7% | -437.0% | · | -1215.7% | -1673.9% | -1786.4% | · | -4148.3% | -6786.6% | -23889.8% | · | · | · | |
| Pretax Margin | -461.2% | · | -347.8% | -454.2% | -459.0% | · | -1243.8% | -1758.0% | -1911.4% | · | · | · | · | · | · | · | |
| EBITDA Margin | -374.0% | · | -300.6% | -421.4% | -432.8% | · | -1021.6% | -1608.1% | -1988.3% | · | -4338.4% | -7336.8% | -26906.8% | · | · | · | |
| ROA | -26.0% | · | -20.7% | -18.9% | -20.6% | · | -30.3% | -24.1% | -20.4% | · | -25.8% | -23.2% | -17.1% | · | -14.7% | -17.6% | |
| ROE | -133.1% | · | -57.0% | -38.9% | -59.0% | · | -67.8% | -49.6% | -47.3% | · | -45.2% | -38.4% | -27.8% | · | -18.8% | -24.0% |
Liquidity & Solvency
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.3 | · | 5.1 | 4.2 | 3.2 | · | 3.6 | 5.8 | 2.6 | · | 3.4 | 3.8 | 5.3 | · | 5.7 | 6.5 | |
| Quick Ratio | 1.6 | · | 2.6 | 2.6 | 1.6 | · | 2.1 | 4.4 | 1.9 | · | 2.7 | 3.1 | 4.7 | · | 4.6 | 5.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | -18.5 | -19.2 | -100.5 | · | -304.6 | -262.9 |
Efficiency
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | |
| Inventory Turnover | 0.8 | · | 0.9 | 0.9 | 0.7 | · | 0.7 | 0.9 | 0.5 | · | 0.6 | 0.4 | 0.3 | · | 0.1 | 0.5 | |
| Receivables Turnover | 1.8 | · | 2.5 | 2.5 | 2.8 | · | 2.3 | 2.1 | 2.6 | · | 1.2 | 1.1 | 0.2 | · | · | · |
Per Share
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $2.69 | · | $0.97 | $1.59 | $2.12 | · | $0.24 | $0.39 | $0.35 | · | $0.59 | $0.81 | $1.12 | · | $1.70 | $1.97 | |
| Revenue / Share | $2.45 | · | $0.25 | $0.29 | $0.35 | · | $0.01 | $0.02 | $0.01 | · | $0.01 | $0.01 | $0.00 | · | · | · | |
| Cash Flow / Share | $-6.86 | · | · | · | $-0.90 | · | · | · | $-0.22 | · | · | · | $-0.55 | · | · | · | |
| Cash / Share | $7.41 | · | $0.79 | $1.21 | $1.06 | · | $0.06 | $0.39 | $0.09 | · | $0.22 | $0.41 | $0.99 | · | $0.85 | $1.00 | |
| EPS (TTM) | $-13.48 | · | $-32.59 | $-34.70 | $-39.12 | · | $-14.31 | $-11.85 | $-6.69 | · | $-2.12 | $-2.05 | $-1.94 | · | · | · |
Valuation (TTM)
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $8M | · | $7M | $6M | $5M | · | $3M | $2M | $2M | · | · | · | · | · | $873.0K | $873.0K | |
| Net Income TTM | $-33M | · | $-31M | $-37M | $-42M | · | $-52M | $-55M | $-58M | · | $-67M | $-63M | $-59M | · | $-56M | $-51M | |
| Market Cap | $331.6K | · | $6M | $19M | $16M | · | $534M | $560M | $493M | · | $1.39B | $1.48B | $2.70B | · | $3.90B | $4.45B | |
| P/E | -0.7 | · | -0.4 | -1.3 | -1.8 | · | -10.0 | -13.1 | -32.1 | · | -369.8 | -450.7 | -878.4 | · | · | · | |
| P/S | 0.9 | · | 17.6 | 63.8 | 67.5 | · | 3530.8 | 4783.7 | 5529.7 | · | · | · | · | · | 89251.0 | 101965.4 | |
| P/B | 0.2 | · | 0.8 | 1.5 | 1.6 | · | 30.2 | 19.9 | 30.6 | · | 66.8 | 57.4 | 76.2 | · | 76.5 | 75.7 | |
| P / Tangible Book | 0.2 | · | 0.8 | 1.5 | 1.6 | · | 30.2 | 19.9 | 30.6 | · | 71.9 | 61.0 | 79.8 | · | 76.5 | 75.7 | |
| P / Cash Flow | -0.1 | · | · | · | -3.6 | · | · | · | -48.4 | · | · | · | -157.5 | · | · | · | |
| Earnings Yield | -151.1% | · | -224.4% | -75.1% | -56.9% | · | -10.0% | -7.6% | -3.1% | · | -0.27% | -0.22% | -0.11% | · | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 |
|---|---|---|---|---|---|
| Revenue | $8M | $4M | $1M | · | · |
| Gross Margin % | 3.3% | -44.9% | -112.8% | · | · |
| Operating Margin % | -378.2% | -1202.1% | -5436.2% | · | · |
| Net Income | $-33M | $-47M | $-60M | $-56M | $-43M |
| Diluted EPS | $-4.01 | $-13.77 | $-1.82 | $-1.86 | · |
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 |
|---|---|---|---|---|---|
| Current Ratio | 3.8 | 3.2 | 3.8 | 3.0 | 8.7 |
| Quick Ratio | 2.0 | 1.5 | 3.0 | 2.3 | 7.5 |
| Metric | 2026-03-31 | 2025-03-31 | 2024-03-31 | 2023-03-31 | 2022-03-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $-19M | $-44M | $-62M | $-37M | $-25M |
Institutional owners (13F) 32 filers · $836K total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
32
Value held
$836K
New positions
5
Exited positions
5
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 5 (-1 vs prior Q) | 5 (+2 vs prior Q) | 2 (0 vs prior Q) | 6 (-3 vs prior Q) | -16K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Balyasny Asset Management L.P. | $206,969 | 464,161 | 24.75% | Shares |
| LASRY MARC | $189,305 | 81,950 | 22.64% | Shares |
| Murchinson Ltd. | $122,269 | 274,208 | 14.62% | Shares |
| Daytona Street Capital LLC | $61,454 | 151,550 | 7.35% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $50,049 | 112,242 | 5.99% | Shares |
| VANGUARD GROUP INC | $43,877 | 60,437 | 5.25% | Shares |
| Bleichroeder LP | $38,565 | 86,489 | 4.61% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $27,982 | 62,741 | 3.35% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $21,130 | 47,382 | 2.53% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $13,098 | 29,368 | 1.57% | Shares |
| StoneX Group Inc. | $9,971 | 21,559 | 1.19% | Shares |
| BlackRock, Inc. | $9,825 | 22,033 | 1.18% | Shares |
| XTX Topco Ltd | $7,882 | 17,677 | 0.94% | Shares |
| NORTHERN TRUST CORP | $7,601 | 17,046 | 0.91% | Shares |
| WEALTH EFFECTS LLC | $7,565 | 16,965 | 0.90% | Shares |
| BALDWIN WEALTH PARTNERS LLC/MA | $6,599 | 14,800 | 0.79% | Shares |
| Kaye Capital Management | $4,514 | 26,200 | 0.54% | Shares |
| OSAIC HOLDINGS, INC. | $3,649 | 8,116 | 0.44% | Shares |
| Tower Research Capital LLC (TRC) | $2,043 | 4,582 | 0.24% | Shares |
| PFS Partners, LLC | $892 | 2,000 | 0.11% | Shares |
| IFP Advisors, Inc | $507 | 1,136 | 0.06% | Shares |
| NewEdge Advisors, LLC | $204 | 457 | 0.02% | Shares |
| GROUP ONE TRADING LLC | $60 | 135 | 0.01% | Shares |
| GODSEY & GIBB, INC | $23 | 50 | 0.00% | Shares |
| MORGAN STANLEY | $18 | 40 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $18 | 41 | 0.00% | Shares |
| CWM, LLC | $17 | 25 | 0.00% | Shares |
| JPMORGAN CHASE & CO | $15 | 32 | 0.00% | Shares |
| FMR LLC | $11 | 25 | 0.00% | Shares |
| HRT FINANCIAL LP | $9 | 21,097 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $5 | 10 | 0.00% | Shares |
| UBS Group AG | $4 | 9 | 0.00% | Shares |
Company insiders 17 insiders · 10 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Robert Scott Goodman | Chief Executive Officer | July 29, 2026 P | 34,822 | 1 | 0 | $199,999 |
| Steven A. Lisi | CEO and Chairman of the Board | Nov. 4, 2025 A | 3,327,411 | 0 | 0 | $0 |
| Daniel J Moorhead | Chief Financial Officer | July 29, 2026 P | 4,340 | 1 | 0 | $24,998 |
| Douglas Quinton Larson | Chief Financial Officer | Nov. 4, 2025 A | 27,548 | 0 | 0 | $0 |
| Douglas Beck | Chief Financial Officer | June 16, 2021 P | 22,460 | 0 | 0 | $0 |
| Haim Aviv | Chief Financial Officer | May 15, 2017 A | · | 0 | 0 | $0 |
| Michael A. Gaul | Chief Operating Officer | Nov. 4, 2025 A | 94,150 | 0 | 0 | $0 |
| Amir Avniel | Chief Business Officer | March 20, 2024 A | 0 | 0 | 0 | $0 |
| Jeff Lynn Myers | Chief Medical Officer | Dec. 27, 2023 S | 46,577 | 0 | 0 | $0 |
| David Grossman | Secretary | Feb. 16, 2018 M | 4,008 | 0 | 0 | $0 |
| Yoori Lee | Director | Nov. 4, 2025 A | 12,654 | 0 | 0 | $0 |
| Erick Lucera | Director | Nov. 4, 2025 A | 43,608 | 0 | 0 | $0 |
| William P Forbes | Director | Nov. 4, 2025 A | 14,855 | 0 | 0 | $0 |
| Robert Carey | Director | Nov. 3, 2025 A | 4,076,864 | 0 | 0 | $0 |
| Ron Bentsur | Director | Nov. 22, 2024 A | 144,736 | 0 | 0 | $0 |
| Ari Raved | Director | June 22, 2018 S | 565,885 | 0 | 0 | $0 |
| Yi-Chien Lin | 10% owner | Oct. 1, 2026 P | 145,393 | 3 | 0 | $56,590 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 1 ETF
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| VXF · VANGUARD INDEX FUNDS | 0.00% | 62,741 SH | Aug. 19, 2026 | Daily |
XAIR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 7 analysts
BUY
Median target
$20.00
+609.2%
2 28.6%
Strong Buy
4 57.1%
Buy
1 14.3%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
2 analysts · 2026-09-29Mean target $20.00 +609.2%
← Below all targets
Current price $2.82
Low$10.00
Mean$20.00
High$30.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
Latest News Recent headlines mentioning this company
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Source: SEC 10-Q filed Aug 13, 2026