Beneficient
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
BENF$0.68-4.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Changes in Equity
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT)
For the three months ended September 30, 2024 and 2023:
| Series A preferred stock · Series B preferred stock · Class A common stock · Class B common stock · APIC · Accumulated Deficit · Stock Receivable · Treasury Stock · Accumulated Other Comprehensive Income (Loss) · Noncontrolling interests (Note 10) · Total equity · Redeemable noncontrolling interests | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars and units in thousands) · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount | ||||||||||||||||
| Balance, June 30, 2024 | — | $— | 227 | $— | 4,006 | $4 | 239 | $— | $1,852,187 | $(2,011,547) | $(20,038) | $(3,444) | $255 | $34,293 | $(148,290) | $251,052 |
| Net income (loss) | — | — | — | — | — | — | — | — | — | 12,914 | — | — | — | (7,590) | 5,324 | 4,423 |
| Noncontrolling interest reclass | — | — | — | — | — | — | — | — | — | — | — | — | — | (122) | (122) | — |
| Recognition of share-based compensation cost | — | — | — | — | — | — | — | — | 3,364 | — | — | — | — | — | 3,364 | — |
| Unrealized gain on available-for-sale debt securities | — | — | — | — | — | — | — | — | — | — | — | — | 26 | — | 26 | — |
| Preferred A.0 Unit Accounts guaranteed payment accrual | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | (4,423) |
| Issuance of Class A common stock to settle liabilities | — | — | — | — | 211 | — | — | — | 307 | — | — | — | — | — | 307 | — |
| Issuance of Class A common stock | — | — | — | — | 363 | 1 | — | — | 672 | — | — | — | — | — | 673 | — |
| Termination of prepaid forward purchase agreement | — | — | — | — | — | — | — | — | (20,038) | — | 20,038 | — | — | — | — | — |
| Reclass of BCH Preferred A.0 from temporary to permanent equity | — | — | — | — | — | — | — | — | — | — | — | — | — | 125,526 | 125,526 | (125,526) |
| Balance, September 30, 2024 | — | $— | 227 | $— | 4,580 | $5 | 239 | $— | $1,836,492 | $(1,998,633) | $— | $(3,444) | $281 | $152,107 | $(13,192) | $125,526 |
| Series A preferred stock · Series B preferred stock · Class A common stock · Class B common stock · APIC · Accumulated Deficit · Stock Receivable · Treasury Stock · Accumulated Other Comprehensive Income (Loss) · Noncontrolling interests (Note 10) · Total equity · Redeemable noncontrolling interests | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars and units in thousands) · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount | ||||||||||||||||
| Balance, June 30, 2023 | — | $— | — | $— | 2,376 | $2 | 239 | $— | $1,583,248 | $(1,079,091) | $(20,038) | $(3,444) | $14,190 | $786,080 | $1,280,947 | $251,052 |
| Net income (loss) | — | — | — | — | — | — | — | — | — | (371,735) | — | — | — | (14,196) | (385,931) | 4,167 |
| Recognition of share-based compensation cost | — | — | — | — | — | — | — | — | 8,503 | — | — | — | — | — | 8,503 | — |
| Payment of employee payroll taxes on restricted equity units | — | — | — | — | — | — | — | — | (32) | — | — | — | — | — | (32) | — |
| Issuance of shares in connection with recent financings | — | — | — | — | 36 | — | — | — | 6,603 | — | — | — | — | (3,193) | 3,410 | — |
| Reclass of distributions payable to noncontrolling interest holder | — | — | — | — | — | — | — | — | — | — | — | — | — | (238) | (238) | — |
| Conversion of Preferred Series C to Class A common stock | — | — | — | — | 550 | — | — | — | 205,759 | — | — | — | — | (205,759) | — | — |
| Reclassification of realized gain upon transfer from available-for-sale debt security to equity interest | — | — | — | — | — | — | — | — | — | — | — | — | (13,694) | — | (13,694) | — |
| Settlement of restricted stock units | — | — | — | — | 68 | — | — | — | — | — | — | — | — | — | — | — |
| Issuance of Series B-1 preferred stock in connection with recent financings | — | — | 3,769 | 4 | — | — | — | — | 36,703 | — | — | — | — | 942 | 37,649 | — |
| Adjustment to liability assumed at de-SPAC | — | — | — | — | — | — | — | — | 500 | — | — | — | — | — | 500 | — |
| Issuance of shares to settle liability assumed at de-SPAC | — | — | — | — | 6 | — | — | — | 1,250 | — | — | — | — | — | 1,250 | — |
| Unrealized gain on available-for-sale debt securities | — | — | — | — | — | — | — | — | — | — | — | — | (105) | — | (105) | — |
| Preferred Series A.0 Unit Accounts guaranteed payment accrual | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | (4,167) |
| Balance, September 30, 2023 | — | $— | 3,769 | $4 | 3,036 | $2 | 239 | $— | $1,842,534 | $(1,450,826) | $(20,038) | $(3,444) | $391 | $563,636 | $932,259 | $251,052 |
For the six months ended September 30, 2024 and 2023:
| Series A preferred stock · Series B-1 preferred stock · Class A common stock · Class B common stock · APIC · Accumulated Deficit · Stock Receivable · Treasury Stock · Accumulated Other Comprehensive Income (Loss) · Noncontrolling interests (Note 10) · Total equity · Redeemable noncontrolling interests | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars and units in thousands) · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount | ||||||||||||||||
| Balance, March 31, 2024 | — | $— | 227 | $— | 3,348 | $3 | 239 | $— | $1,848,068 | $(2,059,214) | $(20,038) | $(3,444) | $276 | $42,231 | $(192,118) | $251,052 |
| Net income (loss) | — | — | — | — | — | — | — | — | — | 60,581 | — | — | — | (15,303) | 45,278 | 8,779 |
| Noncontrolling interest reclass | — | — | — | — | — | — | — | — | — | — | — | — | — | (347) | (347) | — |
| Recognition of share-based compensation cost | — | — | — | — | — | — | — | — | 4,358 | — | — | — | — | — | 4,358 | — |
| Issuance of shares in connection with equity purchase agreement | — | — | — | — | 449 | 1 | — | — | 2,554 | — | — | — | — | — | 2,555 | — |
| Unrealized gain on available-for-sale debt securities | — | — | — | — | — | — | — | — | — | — | — | — | 5 | — | 5 | — |
| Preferred A.0 guaranteed payment accrual | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | (8,779) |
| Issuance of common shares to settle liability | — | — | — | — | 340 | — | — | — | 1,221 | — | — | — | — | — | 1,221 | — |
| Issuance of Class A common stock | — | — | — | — | 363 | 1 | — | — | 672 | — | — | — | — | — | 673 | — |
| Rounding adjustment in connection with reverse stock split | — | — | — | — | 80 | — | — | — | — | — | — | — | — | — | — | — |
| Equity issuance costs reclassed to APIC | — | — | — | — | — | — | — | — | (343) | — | — | — | — | — | (343) | — |
| Termination of prepaid forward purchase agreement | — | — | — | — | — | — | — | — | (20,038) | — | 20,038 | — | — | — | — | — |
| Reclass of BCH Preferred A.0 from temporary to permanent equity | — | — | — | — | — | — | — | — | — | — | — | — | — | 125,526 | 125,526 | (125,526) |
| Balance, September 30, 2024 | — | $— | 227 | $— | 4,580 | $5 | 239 | $— | $1,836,492 | $(1,998,633) | $— | $(3,444) | $281 | $152,107 | $(13,192) | $125,526 |
| Series A preferred stock · Series B preferred stock · Class A common stock · Class B common stock · APIC · Accumulated Deficit · Stock Receivable · Treasury Stock · Accumulated Other Comprehensive Income · Noncontrolling interests (Note 10) · Total equity · Redeemable noncontrolling interests | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars and units in thousands) · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount | ||||||||||||||||
| Balance, March 31, 2023 | — | $— | — | $— | 2,252 | $2 | 239 | $— | $1,579,742 | $— | $— | $(3,444) | $9,900 | $142,213 | $1,728,413 | $950,493 |
| Net income (loss) | — | — | — | — | — | — | — | — | (36,432) | (1,450,826) | — | — | — | (58,748) | (1,546,006) | 8,272 |
| Recognition of share-based compensation cost | — | — | — | — | — | — | — | — | 35,504 | — | — | — | — | — | 35,504 | — |
| Payment of employee payroll taxes on restricted equity units | — | — | — | — | — | — | — | — | (116) | — | — | — | — | — | (116) | — |
| Issuance of common and preferred shares upon closing of de-SPAC transaction, net of issuance costs | 2,749 | 3 | — | — | 100 | — | — | — | (4,293) | — | — | — | — | — | (4,290) | — |
| Conversion of Series A preferred to Class A common | (2,749) | (3) | — | — | 9 | — | — | — | 3 | — | — | — | — | — | — | — |
| Issuance of shares in connection with recent financings | — | — | — | — | 43 | — | — | — | 11,756 | — | — | — | — | (3,060) | 8,696 | — |
| Reclass of distributions payable to noncontrolling interest holder | — | — | — | — | — | — | — | — | — | — | — | — | — | (567) | (567) | — |
| Conversion of Class S Ordinary to Class A common | — | — | — | — | 5 | — | — | — | 3,884 | — | — | — | — | (3,884) | — | — |
| Non-cash dividend to related party | — | — | — | — | — | — | — | — | (110) | — | — | — | — | — | (110) | — |
| Share-based awards to related party employees | — | — | — | — | — | — | — | — | 110 | — | — | — | — | — | 110 | — |
| Conversion of Preferred Series C to Class A common stock | — | — | — | — | 550 | — | — | — | 205,759 | — | — | — | — | (205,759) | — | — |
| Unrealized gain on available-for-sale debt securities | — | — | — | — | — | — | — | — | — | — | — | — | 4,185 | — | 4,185 | — |
| Deemed dividend for BCG Preferred B.2 Unit Accounts preferred return | — | — | — | — | — | — | — | — | 6,942 | — | — | — | — | (6,942) | — | — |
| Reclassification of realized gain upon transfer from available-for-sale debt security to equity interest | — | — | — | — | — | — | — | — | — | — | — | — | (13,694) | — | (13,694) | — |
| Settlement of restricted stock units | — | — | — | — | 68 | — | — | — | — | — | — | — | — | — | — | — |
| Issuance of Series B-1 preferred stock in connection with recent financings | — | — | 3,769 | 4 | — | — | — | — | 36,703 | — | — | — | — | 942 | 37,649 | — |
| Redemption of BCG Preferred B.2 Unit Accounts | — | — | — | — | — | — | — | — | (1,413) | — | — | — | — | — | (1,413) | — |
| Preferred Series A.0 Unit Accounts guaranteed payment accrual | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | (8,272) |
| Issuance of shares to settle liability assumed at de-SPAC | — | — | — | — | 9 | — | — | — | 3,995 | — | — | — | — | — | 3,995 | — |
| Adjustment to liability assumed at de-SPAC | — | — | — | — | — | — | — | — | 500 | — | — | — | — | — | 500 | — |
| Stock receivable on prepaid forward purchase | — | — | — | — | — | — | — | — | — | — | (20,038) | — | — | — | (20,038) | — |
| Reclass of BCH Preferred A.1 from temporary to permanent equity | — | — | — | — | — | — | — | — | — | — | — | — | — | 699,441 | 699,441 | (699,441) |
| Balance, September 30, 2023 | — | $— | 3,769 | $4 | 3,036 | $2 | 239 | $— | $1,842,534 | $(1,450,826) | $(20,038) | $(3,444) | $391 | $563,636 | $932,259 | $251,052 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.