Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 90

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 90
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 months
ended June 30, 2025 and June 30, 2024, respectively. The Company has recorded less than $0.1 million and $0.1 million in deferred revenue
associated with leased devices as of June 30, 2025 and June 30, 2024, respectively.

The
following schedule presents the minimum future lease payments under the LungFit® PH lease arrangements that were in place as of June
30, 2025 (in thousands):

 SCHEDULE
OF MATURITY OF FUTURE LEASE PAYMENTS 

    Future lease payments under the LungFit® PH lease arrangements (in thousands) 
    June 30 

    2026 
    $3,373 
  
    2027 
     3,513 
  
    2028 
     2,338 
  
    2029 
     246 
  
    Total 
    $9,470 

The
LungFit® PH devices are included in Property and Equipment (Note 3) and have a useful life of five years. Depreciation expense related
to leased LungFit® PH devices was $0.6 million and $0.5 million for the three months ended June 30, 2025 and June 30, 2024, respectively.

The
depreciation expense related to customer leased devices is included in the cost of revenue in the unaudited condensed consolidated statements
of operations and comprehensive loss.

Capitalized
sales commissions

Sales
commissions related to obtaining LungFit® PH lease agreements are accounted for as initial direct costs and are capitalized and amortized
on a straight-line basis over the lease term. Total capitalized costs for the three months ended June 30, 2025 and June 30, 2024 were
immaterial.

    21

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
11 SEGMENTS

The
following table summarizes segment financial information by business segment for the three months ended and at June 30, 2025:

 SCHEDULE
OF SEGMENT FINANCIAL INFORMATION BY BUSINESS SEGMENT 

    (in thousands) 
    Beyond
                                                                                                  Air  
    Beyond
                                                                                Cancer  
    NeuroNos   
    Total 
  
    Cash, cash equivalents and marketable securities 
    $3,056