Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 347

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 16
Chunk 347
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 The amendments
in this update requires public entities to disclose significant segment expenses that are regularly provided to the Company’s Chief
Executive Officer as the Company’s Chief Operating Decision Maker (CODM). This ASU is effective for fiscal years beginning after December 15, 2023
(fiscal 2025 for the Company). We adopted this standard effective April 1, 2024 retrospectively for all periods presented. See
Note 14, “Variable Interest Entities,” for further information regarding our segment reporting.

Recently Issued Accounting Standards Not Yet Adopted

In December 2023, the FASB issued ASU 2023-09, Improvements
to Tax Disclosures (Topic 740), to enhance the disclosures related to income taxes, including the rate reconciliation and information
on income taxes paid. This ASU is effective for fiscal years beginning after December 15, 2024 (fiscal 2026 for the Company), with early
adoption permitted. The Company is assessing the impact of this ASU, and upon adoption, may be required to include certain additional
disclosures in the effective income tax rate reconciliation in the footnotes to the Consolidated Financial Statements.

In November 2024, the FASB issued ASU 2024-03, Income
Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). This standard requires disclosure
of specific information about costs and expenses and becomes effective for fiscal years beginning after December 15, 2026 (fiscal 2028
for the Company), with early adoption permitted. The Company is assessing the impact of this ASU and, upon adoption, may be required to
include certain additional disclosures in the footnotes to the Consolidated Financial Statements.

    F-19

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 3 PROPERTY AND EQUIPMENT

Property and equipment consist of the following:

 SCHEDULE OF PROPERTY AND EQUIPMENT

    (in thousands) 
    March 31,  2025  
    March 31, 2024 

    Clinical and medical equipment 
    $1,048  
    $2,174 
  
    Equipment deployable as part of a service offering 
     13,511  
     8,208 
  
    Computer equipment 
     927  
     860 
  
    Furniture and fixtures 
     506