Beneficient
For the period ended Mar 31, 2025. Filed Sep 29, 2025.
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FY2025 · Filed Sep 29, 2025
BENF$0.70+3.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Changes in Equity (Deficit)
For the years ended March 31, 2025 and 2024:
| 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 13) · Total equity · Redeemable noncontrolling interests | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars and shares 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) | — | — | — | — | — | — | — | — | — | 51,162 | — | — | — | (64,359) | (13,197) | 12,394 |
| Recognition of share-based compensation cost | — | — | — | — | — | — | — | — | 5,649 | — | — | — | — | — | 5,649 | — |
| Noncontrolling interest reclass | — | — | — | — | — | — | — | — | — | — | — | — | — | (892) | (892) | — |
| Issuance of shares in connection with recent financings | — | — | 136 | — | — | — | — | — | 1,362 | — | — | — | — | — | 1,362 | — |
| Unrealized gain (loss) on available-for-sale debt securities | — | — | — | — | — | — | — | — | — | — | — | — | (278) | — | (278) | — |
| Preferred A-0 guaranteed payment accrual | — | — | — | — | — | — | — | — | — | — | — | — | — | (5,430) | (5,430) | (12,394) |
| Settlement of restricted stock units | — | — | — | — | 410 | — | — | — | — | — | — | — | — | — | — | — |
| Issuance of common shares to settle liability | — | — | — | — | 384 | — | — | — | 1,264 | — | — | — | — | — | 1,264 | — |
| Issuance of shares in connection with standby equity purchase agreement | — | — | — | — | 3,922 | 4 | — | — | 7,855 | — | — | — | — | — | 7,859 | — |
| Issuance of Class A common stock | — | — | — | — | 363 | 1 | — | — | 672 | — | — | — | — | — | 673 | — |
| Rounding adjustment in connection with reverse stock split | — | — | — | — | 80 | — | — | — | — | — | — | — | — | — | — | — |
| Stock receivable on prepaid forward purchase | — | — | — | — | (24) | — | — | — | (20,038) | — | 20,038 | — | — | — | — | — |
| Reclass of BCH Preferred A-1 Unit Accounts from temporary to permanent equity | — | — | — | — | — | — | — | — | — | — | — | — | — | 160,526 | 160,526 | (160,526) |
| Equity issuance costs | — | — | — | — | — | — | — | — | (343) | — | — | — | — | — | (343) | — |
| Balance, March 31, 2025 | — | $— | 363 | $— | 8,483 | $8 | 239 | $— | $1,844,489 | $(2,008,052) | $— | $(3,444) | $(2) | $132,076 | $(34,925) | $90,526 |
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (DEFICIT) (continued)
| 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 13) · Total equity · Redeemable noncontrolling interests | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars and shares 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) | (2,059,214) | — | — | — | (579,331) | (2,674,977) | 16,793 |
| Recognition of share-based compensation cost | — | — | — | — | — | — | — | — | 39,103 | — | — | — | — | — | 39,103 | — |
| Payment of employee payroll taxes on restricted stock units | — | — | — | — | — | — | — | — | (116) | — | — | — | — | — | (116) | — |
| Issuance of common and preferred shares upon closing of de-SPAC merger transaction, net of issuance costs | 2,749 | 3 | — | — | 100 | — | — | — | (4,293) | — | — | — | — | — | (4,290) | — |
| Conversion of Series A preferred stock to Class A common stock | (2,749) | (3) | — | — | 9 | — | — | — | 3 | — | — | — | — | — | — | — |
| Issuance of shares in connection with recent financings | — | — | — | — | 92 | — | — | — | 12,877 | — | — | — | — | (3,060) | 9,817 | — |
| Reclass of distributions payable to noncontrolling interest holder | — | — | — | — | — | — | — | — | — | — | — | — | — | (1,170) | (1,170) | — |
| Non-cash dividend to related party | — | — | — | — | — | — | — | — | (110) | — | — | — | — | — | (110) | — |
| Share-based awards to related party employees | — | — | — | — | — | — | — | — | 110 | — | — | — | — | — | 110 | — |
| Conversion of BCH Class S Ordinary to Class A common stock | — | — | — | — | 5 | — | — | — | 3,884 | — | — | — | — | (3,884) | — | — |
| Conversion of Preferred Series C Unit Accounts to Class A common stock | — | — | — | — | 551 | 1 | — | — | 205,758 | — | — | — | — | (205,759) | — | — |
| Unrealized gain on available-for-sale debt securities | — | — | — | — | — | — | — | — | — | — | — | — | 4,070 | — | 4,070 | — |
| Reclassification of realized gain upon transfer from available-for-sale debt security to equity interest | — | — | — | — | — | — | — | — | — | — | — | — | (13,694) | — | (13,694) | — |
| Deemed dividend for BCG Preferred B.2 Unit Accounts preferred return | — | — | — | — | — | — | — | — | 6,942 | — | — | — | — | (6,942) | — | — |
| Preferred A-0 guaranteed payment accrual | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | (16,793) |
| Redemption of BCG Preferred B.2 Unit Accounts | — | — | — | — | — | — | — | — | (1,413) | — | — | — | — | — | (1,413) | — |
| Settlement of restricted stock units | — | — | — | — | 68 | — | — | — | — | — | — | — | — | — | — | — |
| Issuance of common shares to settle liability | — | — | 27 | — | 98 | — | — | — | 5,251 | — | — | — | — | — | 5,251 | — |
| Issuance of Series B-1 preferred stock in connection with recent financings | — | — | 3,969 | 4 | — | — | — | — | 38,653 | — | — | — | — | 992 | 39,649 | — |
| Stock receivable on prepaid forward purchase | — | — | — | — | — | — | — | — | — | — | (20,038) | — | — | — | (20,038) | — |
| Reclass of BCH Preferred A-1 Unit Accounts from temporary to permanent equity | — | — | — | — | — | — | — | — | — | — | — | — | — | 699,441 | 699,441 | (699,441) |
| Distribution to noncontrolling interest | — | — | — | — | — | — | — | — | — | — | — | — | — | (269) | (269) | — |
| Equity issuance costs | — | — | — | — | — | — | — | — | (1,895) | — | — | — | — | — | (1,895) | — |
| Conversion of Series B-1 preferred stock to Class A common stock | — | — | (3,769) | (4) | 173 | — | — | — | 4 | — | — | — | — | — | — | — |
| 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 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.