Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1198

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1C
Chunk 1198
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    Stock-based compensation expense 
    $10,950  
    $10,387  
    $-  
    $21,337 

    Cash used in operations 
    $(46,787) 
    $(9,227) 
    $-  
    $(56,014)
  
    Cash used in investing 
     (6,922) 
     (5,313) 
     -  
     (12,235)
  
    Cash from financing 
     43,167  
     -  
     -  
     43,167 
  
    Impact of exchange rates 
     (23) 
     (54) 
     -  
     (77)
  
    Net change for the year 
    $(10,566) 
    $(14,594) 
    $-  
    $(25,160)

NOTE 15 RELATED PARTY TRANSACTIONS

With the exception of
the related party transactions referred to in Note 4 and Note 10, there were no additional related party transactions in the fiscal years ended
March 31, 2025 and March 31, 2024.

NOTE 16 – LEASE REVENUES

The Company leases the LungFit® PH
device to customers and receives a fixed rental fee over the term of the arrangement. Contract terms (generally one1-to-three
years) vary by customer and may include options to terminate the contract or options to extend the contract. The LungFit® PH lease
agreements are accounted for as operating leases. The non-lease components, including consumables and device-related services are combined
with the predominant lease component under the practical expedient. The fixed rental fee is recognized over the period of the lease agreement
on a straight-line basis.

The Company recognized
$3.7
million and $1.2
million in LungFit® PH lease revenues for the years ended March 31, 2025 and March 31, 2024, respectively, included revenues in
the consolidated statements of operations and comprehensive loss. The Company received approximately $3.2
million and $1.0
million in cash associated with leases which the Company is the lessor for the years ended March 31, 2025 and March 31, 2024,
respectively. The Company has recorded less than $0.1
million of deferred revenue in both of the years ended March 31