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Beyond Air, Inc. (NASDAQ:XAIR) announced that shareholders have approved a proposal authorizing the company’s board of directors to implement a reverse stock split of its common stock at a ratio between 1-for-10 and 1-for-50. The approval was granted during a special meeting held on Friday.
According to a statement based on a recent SEC filing, the board now has the authority, at its discretion and any time prior to the one-year anniversary of the special meeting, to determine the exact timing and ratio of the reverse split, combining every 10 to 50 shares of issued and outstanding common stock into one share. While the company currently has a market capitalization of $15.68 million, InvestingPro data reveals analysts expect profitability this year, with 12 additional key insights available to subscribers.
The proposal received 41,924,612 votes in favor, 6,382,862 votes against, and 169,243 abstentions, with no broker non-votes reported. The company reported that 48,476,717 shares were represented at the meeting, constituting a quorum out of 86,369,869 shares outstanding as of the record date of April 23, 2025.
No other substantive matters were brought to a vote at the meeting, and a proposal to adjourn was deemed unnecessary based on the voting results.
This information is based on a press release statement and details disclosed in the company’s SEC filing.
In other recent news, Beyond Air Inc. reported its fourth-quarter 2025 earnings, delivering a notable earnings per share (EPS) result that exceeded expectations. The company posted an EPS of -$0.09, surpassing the forecasted -$0.15, representing a 40% positive surprise. However, revenue fell short of projections, reaching $1.15 million against an anticipated $1.38 million, indicating a 16.67% negative surprise. Despite the revenue miss, Beyond Air’s strategic growth plans, including international expansion and cost reductions, have been highlighted as key drivers of its financial performance. The company also announced a significant annual revenue increase of 220% to $3.7 million. Looking ahead, Beyond Air projects Q1 2026 revenue of $1.7 million, with a fiscal 2026 target between $12 million and $16 million, supported by international market contributions. In terms of analyst activity, there were no specific upgrades or downgrades mentioned. Beyond Air remains focused on advancing its LungFit PH2 technology, emphasizing its potential to transform the nitric oxide delivery landscape.
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