Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 455

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 8
Chunk 455
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 dividends since its inception and does not anticipate paying dividends in the foreseeable future.
The Company accounts for forfeitures as they occur. Starting in 2023, Beyond Air used its own historical volatility as an input for expected
volatility, but due to Beyond Cancer’s lack of marketability, the Company utilizes the implied volatility based on an aggregate
of guideline companies for expected volatility. The Company uses the simplified method to estimate the expected term.

Supplier Concentration

The Company relies on third-party suppliers to provide
materials for its devices and consumables.

In the year ended March 31, 2025, the Company purchased
approximately 85% of its materials from a third-party vendor. In the year ended March 31, 2024, the Company purchased approximately 75%
of its materials from a third-party vendor.

Customer Concentration

For the year ended March 31, 2025, the Company derived 16% and 10% of its revenues from two customers. For the year
ended March 31, 2024, the Company derived 40% and 21% of its revenues from two customers.

Licensed Right to Use
Technology

Licensed right to use technology that is considered
platform technology with alternative future uses is recorded as an intangible asset and is amortized on a straight-line method over its
estimated useful life, determined to be thirteen years.

The expected amortization expense for the next five
years and thereafter is as follows for the year ended March 31 (in thousands):

 SCHEDULE OF FUTURE EXPECTED AMORTIZATION EXPENSE

    2026
     
    $
    205

    2027

    205

    2028

    205

    2029

    205

    2030

    205

    Thereafter

    197

    Total
     
    $
    1,222

Long-Lived Assets

The Company assesses the impairment of long-lived
assets on an ongoing basis and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. Factors
that the Company considers as potential triggers of an impairment review include the following:

    ●
    significant underperformance relative to expected historical or projected future operating results,
  
    ●
    significant changes in the manner of the Company’s use of the acquired assets or the strategy for its overall business,
  
    ●
    significant negative regulatory or economic trends, and
  
    ●
    significant technological changes