A company still losing money with steady sales, with high risk. Insiders are buying.
Going well
Sales up 107% last year
Buying back shares: share count down 72% in 3 years
Watch out for
About 4 months of cash left at its current burn
Losing money, losses are large next to sales
High debt: 2.71x equity
Money moves
An insider bought $62K of shares with their own money in the last 30 days
Institutions cut 1.1% from their holdings in the quarter ending June 2026 (8 bought, 11 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$2.20+5.3% that day
Latest insider buy: A 10% owner bought at $2.21 on Oct 13. The stock is now $2.20, -0.5% since.
Company value
$2M
Share price times all shares
Price vs sales
0.27x
No profit over the last year, so this compares value with sales instead
Cash vs value
261%
A big cushion: cash is a large part of what the company is worth
Debt vs value
1043%
Owes more than the whole company is worth
From XAIR's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$1.8M+0.5% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $7.7M, up 61% from the 12 months before. Over 5 years, sales grew about 55% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of XAIR. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$29M
Profit in 5 years$3M
Price these guesses point to$57.78+2526% vs $2.20 todayAbout +92% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 32% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/6Weak
MissDebt under half of equityNot relying on borrowed money.2.71x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-447.1%
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$19.2M
PassShare count not growingNot diluting owners. Falling means buybacks.-72.3% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.3.3%
Revenue
$7.7M
+107.3% vs prior year
5-year growth
+54.5%/yr
revenue, per year
Total debt
$22.0M
2.71x equity
Current ratio
5.12x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Oct 8
Revenue
$1.8M
+0.5% YoY
EPS
-$11.00
vs -$368.04
Op. margin
-374.0%
+58.8 pts
Gross margin
12.7%
+3.8 pts
Free cash flow
-$5.2M
Share count
+3352.0%
vs a year ago
Insider rating
Last 90 days
65Buying
1 insider bought $62K
Yi-chien Lin grew their stake 16.3%
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
43/ 100
This week
1
Normal week
1.3
vs normal
0.8x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady-1.1%
Institutions cut 1.1% from their holdings. 8 bought, 11 sold. 6 quarters of net selling in a row.
Shares held by institutions1.4M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-23.1%
Cash runwayAt last year's cash burn
4 months
Debt to equityLatest balance sheet: debt compared with what owners have
10.8x · $21.6M debt
Shares outstandingLatest reported
958K
Why high risk
Losing money, losses are large next to sales
About 4 months of cash left at its current burn
High debt: 10.84x equity
3 offering filings in 6 months (may sell new shares)
Exchange listing notice (a delisting warning or a move to another exchange)
Earnings reports
Last 12
Next reportAround Feb 12, 2027 (est.)Estimated from the same quarter last year
Results filedOct 8
Results filedAug 18
Results filedJun 26
Results filedFeb 13
Results filedNov 14, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days