Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 473

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 8
Chunk 473
---
    Operating lease liability long-term 
     1,486  
     1,898 
  
    Total 
    $1,882  
    $2,316 

Operating lease liabilities and their corresponding
right-of-use assets are recorded based on the present value of lease payments over the expected remaining lease term. Certain adjustments
to the right-of-use asset may be required for items such as prepaid or accrued rent. The interest rate implicit in the Company’s
leases is typically not readily determinable. As a result, the Company utilizes its incremental borrowing rate, which reflects the fixed
rate at which the Company could borrow on a collateralized basis the amount of the lease payments in the same currency, for a similar
term, in a similar economic environment. Operating lease expense is recognized on a straight-line basis over the lease term and is included
in general and administrative and research development expenses.

The Company has other operating lease agreements with
commitments of less than one year or that are not significant, of which the Company recognized $0.2 million in general and administrative
expenses and less than $0.1 million in research and development expenses for the year ended March 31, 2025. For the year ended March 31,
2024, the Company recognized $0.5 million in general and administrative expenses and $0.1 million in research and development expenses
for other operating lease agreements with commitments of less than one year. The Company elected the practical expedient option and as
such these lease payments are expensed as incurred. For the year ended March 31, 2025, the Company recognized $0.4 million of lease expense
in general and administrative costs and $0.2 million in research and development. For the year ended March 31, 2024, the Company recognized
$0.4 million of lease expense in general and administrative costs and $0.2 million in research and development.

 SCHEDULE OF LEASE OTHER INFORMATION

    Other Information For The Year Ended March 31, 2025 

    Cash paid for amounts included in the measurement of lease liabilities: 

    Cash paid 
    $557 
  
    Right-of-use assets obtained in exchange for new operating lease liabilities: 

    Weighted-average remaining lease term — operating leases 
     5.0 
  
    Weighted-average discount rate — operating leases 
     8.3%

 SCHEDULE
OF MATURITY OF LEASE LIABILITIES

    Maturity