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Beneficient

For the period ended Sep 30, 2025. Filed Nov 14, 2025.

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About this filing

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, 2025 · Filed Nov 14, 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 Financial Condition

September 30, 2025March 31, 2025
(Dollars and shares in thousands) · (unaudited)
ASSETS
Cash and cash equivalents$4,902$1,346
Investments, at fair value:
Investments held by Customer ExAlt Trusts (related party of nil and $5)243,978291,371
Other assets, net (related party of $470 and $404)54,33949,144
Intangible assets3,1003,100
Goodwill9,9149,914
Total assets$316,233$354,875
LIABILITIES, TEMPORARY EQUITY, AND EQUITY (DEFICIT)
Accounts payable and accrued expenses (related party of $16,143 and $14,733)$234,348$156,770
Other liabilities (related party of $24,874 and $19,360)29,86124,381
Warrants liability365227
Debt due to related parties103,960117,896
Total liabilities368,534299,274
Redeemable noncontrolling interests
Preferred Series A Subclass 0 Redeemable Unit Accounts, nonunitized90,52690,526
Total temporary equity90,52690,526
Shareholders’ equity (deficit):
Preferred stock, par value $0.001 per share, 250,000 shares authorized
Series A preferred stock, 0 and 0 shares issued and outstanding as of September 30, 2025 and March 31, 2025——
Series B preferred stock, 1,543 and 363 shares issued and outstanding as of September 30, 2025 and March 31, 2025, respectively2—
Class A common stock, par value $0.001 per share, 5,000,000 and 5,000,000 shares authorized as of September 30, 2025 and March 31, 2025, respectively, 9,465 and 8,483 shares issued as of September 30, 2025 and March 31, 2025, respectively, and 9,456 and 8,474 shares outstanding as of September 30, 2025 and March 31, 2025, respectively98
Class B convertible common stock, par value $0.001 per share, 250 shares authorized, 239 and 239 shares issued and outstanding as of September 30, 2025 and March 31, 2025, respectively——
Additional paid-in capital1,857,2111,844,489
Accumulated deficit(2,076,757)(2,008,052)
Treasury stock, at cost (9 shares as of September 30, 2025 and March 31, 2025)(3,444)(3,444)
Accumulated other comprehensive income (loss)90(2)
Noncontrolling interests80,062132,076
Total equity (deficit)(142,827)(34,925)
Total liabilities, temporary equity, and equity (deficit)$316,233$354,875
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.