Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1324

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1324
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.0 million for the years ended March 31, 2025 and March 31, 2024, respectively.

The depreciation expense related to customer leased
devices is included in the cost of revenue in the consolidated statements of operations and comprehensive loss.

Capitalized sales commissions

Sales commissions related to obtaining LungFit®
PH lease agreements are accounted for as initial direct costs and are capitalized and amortized on a straight-line basis over the lease
term. Total capitalized costs for the years ended March 31, 2025 and March 31, 2024 were immaterial.

NOTE 17 –
SUBSEQUENT EVENTS

Subsequent
to March 31, 2025, the Company received commitments from certain lenders under the Loan Agreement to provide additional financing of
at least $2.0 million in aggregate principal. The additional loans are expected to be issued on terms and conditions that are materially
consistent with those of the Loan Agreement.

F-33