Beneficient
For the period ended Mar 31, 2026. Filed Jun 30, 2026.
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FY2026 · Filed Jun 30, 2026
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended March 31, | ||
|---|---|---|
| (Dollars in thousands) | 2026 | 2025 |
| Cash flows used in operating activities: | ||
| Net income (loss) | $(164,730) | $(803) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 746 | 1,695 |
| Net amortization of debt premium and discount (related party of $772 and $296) | 772 | 296 |
| Loss on impairment of goodwill and intangible assets | 3,100 | 3,692 |
| Accrual (release) of loss contingency related to arbitration award | 62,831 | (54,973) |
| Gain (loss) on financial instruments, net (related party of $(9,491) and $552) | (9,774) | 2,242 |
| Investment (income) loss, net | 49,532 | 6,500 |
| Non cash interest expense (related party of $11,827 and $9,715) | 17,151 | 12,214 |
| Non cash interest income | (385) | (494) |
| Non cash share-based compensation | 1,629 | 5,649 |
| Provision for credit losses | 1,048 | 1,000 |
| Provision for deferred taxes | 214 | 80 |
| (Gain) loss on liability resolution | (1,996) | (23,462) |
| Changes in assets and liabilities: | ||
| Changes in other assets | 1,204 | (32,784) |
| Changes in accounts payable and accrued expenses | (59) | 41,445 |
| Net cash used in operating activities | (38,717) | (37,703) |
| Cash flows from investing activities: | ||
| Return of investments in alternative assets held by Customer ExAlt Trusts | 12,062 | 30,368 |
| Proceeds from disposition of alternative assets held by Customer ExAlt Trusts | 51,480 | — |
| Purchase of investments in alternative assets held by Customer ExAlt Trusts | (2,238) | (1,219) |
| Purchase of premises and equipment | (96) | (1,099) |
| Proceeds from sale of public equity securities held by Customer ExAlt Trusts | — | 55 |
| Net cash provided by investing activities | 61,208 | 28,105 |
| Cash flows from financing activities: | ||
| Proceeds from related party debt financings | 850 | 1,675 |
| Payments on related party debt financings | (22,850) | (4,675) |
| Proceeds from issuance of convertible debt | — | 3,575 |
| Payments on convertible debt | — | (4,000) |
| Proceeds received from issuance of Class A common under standby equity purchase agreement | 706 | 7,859 |
| Payment of deferred financing costs for equity | — | (2,140) |
| Proceeds from sale of Class A common shares | — | 673 |
| Net cash provided by (used in) financing activities | (21,294) | 2,967 |
| Net increase (decrease) in cash and cash equivalents | 1,197 | (6,631) |
| Cash and cash equivalents at beginning of period | 1,346 | 7,977 |
| Cash and cash equivalents at end of period | $2,543 | $1,346 |
Refer to Note 21 for supplemental cash flow disclosures, including reconciliation of cash and cash equivalents used in the consolidated statement of cash flows.
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