Company: XAIR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021561
Chunk: 20

Company: Beyond Air, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 the corresponding operating lease obligation on the condensed
consolidated balance sheets as of September 30, 2025 and March 31, 2025 in accordance with ASC 842, Leases. The Company has elected
not to present short-term leases as these leases have a lease term of 12 months or less at lease inception and do not contain purchase
options or renewal terms that the Company is reasonably certain to exercise. All other lease assets and lease liabilities are recognized
based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do
not provide an implicit rate of return, the Company used an incremental borrowing rate based on the information available at adoption
date in determining the present value of lease payments.

    14

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
3 PROPERTY AND EQUIPMENT

Property
and equipment consist of the following:

SCHEDULE
OF PROPERTY AND EQUIPMENT 

    (in thousands) 
    September
    30, 2025  
    March
    31, 2025 

    Clinical and medical equipment 
    $1,108  
    $1,048 
  
    Equipment deployable as part of a service offering 
     13,255  
     13,511 
  
    Computer equipment 
     954  
     927 
  
    Furniture and fixtures 
     500  
     506 
  
    Leasehold improvements 
     533  
     521 
  
    Property and equipment, gross 
     16,350  
     16,513 
  
    Accumulated depreciation 
     (6,958) 
     (5,500)
  
    Property
    and equipment, net 
    $9,392  
    $11,013 

Depreciation
and amortization for the three months ended September 30, 2025 and September 30, 2024 was $0.8 million and $0.8 million, respectively.

Depreciation
and amortization for the six months ended September 30, 2025 and September 30, 2024 was $1.5 million and $1.5 million, respectively.

NOTE
4 STOCKHOLDERS’ EQUITY

On
February 10, 2025,