Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1057

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1B
Chunk 1057
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 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 of Lease Liabilities 
    Operating Leases 
  
    Payments remaining for the year ended March 31: 

    2026 
    $532 
  
    2027 
     451 
  
    2028 
     402 
  
    2029 
     330 
  
    2030 
     259 
  
    Thereafter 
     326