$BENF
Beneficient
CIK:0001775734|SEC Filings
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Cash flows from operating activities: | ||
| Net income (loss) | $ (377) | $ (92,648) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation and amortization | 125 | 242 |
| Net amortization of debt premium and discount (related party of $(32) and $92) | (32) | 92 |
| Gain (loss) on financial instruments, net (related party of $(3,760) and $(1)) | 3,766 | 45 |
| Return on investments in alternative assets held by Customer ExAlt Trusts | 1,219 | 0 |
| Investment income (loss), net | (15,875) | 12,776 |
| Non cash interest expense (related party of $2,738 and $2,697) | 4,602 | 2,764 |
| Non cash interest income | (10) | (139) |
| Non cash share-based compensation | 185 | 461 |
| Accrual of loss contingency related to arbitration award | 0 | 62,831 |
| Changes in assets and liabilities: | ||
| Changes in other assets | 853 | 1,101 |
| Changes in accounts payable and accrued expenses | 1,439 | 1,639 |
| Net cash used in operating activities | (4,105) | (10,836) |
| Cash flows from investing activities: | ||
| Return of investments in alternative assets held by Customer ExAlt Trusts | 1,923 | 3,711 |
| Proceeds from disposition of alternative assets held by Customer ExAlt Trusts | 5,002 | 24,059 |
| Purchase of investments in alternative assets held by Customer ExAlt Trusts | (14) | (1,219) |
| Purchase of premises and equipment | 0 | (96) |
| Net cash provided by investing activities | 6,911 | 26,455 |
| Cash flows from financing activities: | ||
| Proceeds from related party debt financings | 0 | 850 |
| Payments on related party debt financings | 0 | (10,474) |
| Proceeds received from issuance of Class A common shares under equity purchase agreement | 233 | 271 |
| Net cash provided by (used in) financing activities | 233 | (9,353) |
| Net increase (decrease) in cash and cash equivalents | 3,039 | 6,266 |
| Cash and cash equivalents at beginning of period | 2,543 | 1,346 |
| Cash and cash equivalents at end of period | $ 5,582 | $ 7,612 |
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands |
Jun. 30, 2026 |
Mar. 31, 2026 |
||
|---|---|---|---|---|
| ASSETS | ||||
| Cash and cash equivalents | $ 5,582 | $ 2,543 | ||
| Investments held by Customer ExAlt Trusts (related party of nil and nil) | 212,468 | 195,536 | ||
| Derivative asset, related party | 17,891 | 21,652 | ||
| Other assets, net (related party of $515 and $514) | 5,082 | 9,127 | ||
| Goodwill | 9,914 | 9,914 | ||
| Total assets | 250,937 | 238,772 | ||
| LIABILITIES, TEMPORARY EQUITY, AND EQUITY (DEFICIT) | ||||
| Accounts payable and accrued expenses (related party of $18,285 and $17,571) | 61,213 | 63,788 | ||
| Other liabilities (related party of $33,237 and $30,497) | 186,210 | 176,651 | ||
| Warrants liability | 295 | 308 | ||
| Debt due to related parties | 96,784 | 96,785 | ||
| Total liabilities | 344,502 | 337,532 | ||
| Redeemable noncontrolling interests | ||||
| Total temporary equity | 90,526 | 90,526 | ||
| Shareholders’ equity (deficit): | ||||
| Additional paid-in capital | 1,894,784 | 1,884,835 | ||
| Accumulated deficit | (2,102,261) | (2,095,478) | ||
| Treasury stock, at cost (1 share as of June 30, 2026 and March 31, 2026) | (3,444) | (3,444) | ||
| Accumulated other comprehensive income (loss) | 507 | 52 | ||
| Noncontrolling interests | 26,305 | 24,733 | ||
| Total equity (deficit) | [1] | (184,091) | (189,286) | |
| Total liabilities, temporary equity, and equity (deficit) | 250,937 | 238,772 | ||
| Preferred Series A Subclass 0 | ||||
| Redeemable noncontrolling interests | ||||
| Preferred Series A Subclass 0 Redeemable Unit Accounts, nonunitized | 90,526 | 90,526 | ||
| Series A preferred stock | ||||
| Shareholders’ equity (deficit): | ||||
| Preferred stock | 0 | 0 | ||
| Series B preferred stock | ||||
| Shareholders’ equity (deficit): | ||||
| Preferred stock | 3 | 2 | ||
| Class A common stock | ||||
| Shareholders’ equity (deficit): | ||||
| Common stock | 15 | 14 | ||
| Class B | ||||
| Shareholders’ equity (deficit): | ||||
| Common stock | 0 | 0 | ||
| Variable Interest Entity, Primary Beneficiary | ||||
| ASSETS | ||||
| Investments held by Customer ExAlt Trusts (related party of nil and nil) | $ 212,468 | $ 195,536 | ||
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