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Beneficient (NasdaqCM:BENF) Q3 2026 Earnings call February 17, 2026 05:30 PM ET Company ParticipantsDan Callahan - Communications and Investor Relations ConsultantGiles Haycock - Managing DirectorGreg Ezell - CFOJames Silk - Interim CEOConference Call ParticipantsBrendan McCarthy - Equity Research AnalystOperatorHello, and thank you for standing by. Welcome to Beneficient's third quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation ...

Beneficient (NasdaqCM:BENF) Q3 2026 Earnings call February 17, 2026 05:30 PM ET Company ParticipantsDan Callahan - Communications and Investor Relations ConsultantGiles Haycock - Managing DirectorGreg Ezell - CFOJames Silk - Interim CEOConference Call ParticipantsBrendan McCarthy - Equity Research AnalystOperatorHello, and thank you for standing by. Welcome to Beneficient's third quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation ...

Beneficient (NasdaqCM:BENF) Q3 2026 Earnings call February 17, 2026 05:30 PM ET Speaker5Hello, and thank you for standing by. Welcome to Beneficient's third quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you will need to press star one one on your telephone. You would then hear an automated message advising your hand is raised. To withdraw you ...

Financial Performance - The company reported GAAP revenues of $18.67 million for the fiscal third quarter, a significant decrease of 85.7% compared to $123.84 million in the prior year[19]. - The operating loss for the fiscal third quarter was $29.2 million, compared to a loss of $0.8 million in the previous quarter[16]. - Adjusted operating income for the nine months ended December 31, 2025, was $7.4 million, down from $13.9 million in the prior year[17]. - Total revenues for the three months ended December 31, 2025, were $18,670,000, a decrease from $25,393,000 in the previous quarter[41]. - The operating loss for the nine months ended December 31, 2025, was $106,568,000, indicating a substantial decline in performance[43]. - The company reported a net income attributable to Ben's common shareholders of $19.9 million for fiscal 3Q26, compared to a loss of $8.6 million in fiscal 3Q25[31]. - Total revenues for the nine months ended December 31, 2024, were $23,026,000, with adjusted revenues of $23,572,000[45]. Expenses and Liabilities - Operating expenses increased by 5.7% to $14.7 million in the third quarter, compared to $13.9 million in the same period last year[6]. - Employee compensation and benefits for the three months ended December 31, 2025, were $3,010,000, compared to $2,929,000 for the same period in 2024[39]. - Interest expense for the three months ended December 31, 2025, was $5,810,000, up from $3,240,000 in the same period of 2024[39]. - Total liabilities increased to $375,901,000 as of December 31, 2025, compared to $299,274,000 as of March 31, 2025[40]. - Legal and professional fees amounted to $1,288,000 in the same quarter, contributing to the adjusted operating loss[41]. - Legal and professional fees related to lawsuits amounted to $5,825,000 during the reporting period[45]. Asset Management - The company generated $50 million in gross proceeds from asset sales, which were used to reduce debt and improve the balance sheet[4]. - Investments reported a fair value of $205.8 million, down from $291.4 million at the end of the previous fiscal year[6]. - The NAV of alternative assets held in custody decreased to $230.2 million from $338.2 million as of March 31, 2025[16]. - Total investments (at fair value) were $205.8 million at December 31, 2025, supporting Ben Liquidity's loan portfolio[21]. - The loan portfolio was supported by a diversified alternative asset collateral portfolio, with a total gross loan balance of $578 million and a net balance of $187 million after credit losses[10]. Segment Performance - Total segment revenues attributable to Ben's equity holders for fiscal 3Q26 were $55.1 million, a significant increase of 60.8% compared to $49.5 million in fiscal 2Q26[25]. - Ben Liquidity segment revenues for fiscal 3Q26 were $8.2 million, a decrease of 3.6% from $11.3 million in fiscal 3Q25[25]. - Ben Custody segment revenues for fiscal 3Q26 were $2.9 million, down 4.4% from $5.4 million in fiscal 3Q25[25]. - Total adjusted segment revenues attributable to Ben's equity holders for fiscal 3Q26 were $11.0 million, a decrease of 28.3% compared to $49.5 million year-to-date fiscal 2025[28]. - Total segment operating income attributable to Ben's equity holders for fiscal 3Q26 was $8.7 million, compared to a loss of $8.3 million in fiscal 3Q25[25]. Compliance and Governance - The company regained compliance with Nasdaq's listing requirements and resolved litigation related to GWG Holdings[11]. - The company appointed Peter T. Cangany, Jr. as Chairman of the Board effective December 15, 2025[6]. Future Outlook - The company plans to host a webcast and conference call to review its third quarter financial results on February 17, 2026[32]. - The company has plans to continue diversifying its loan portfolio and scaling operations to enhance shareholder value[37]. Impairments and Adjustments - The company reported a loss on impairment of goodwill of $3,692,000 for the nine months ended December 31, 2024[39]. - The company reported a goodwill impairment of $1,340,000 in the three months ended December 31, 2024[43]. - The company reported a goodwill impairment of $3,692,000 during the nine months ended December 31, 2024[45]. - The mark to market adjustment on derivative assets resulted in a loss of $44,063,000 for the three months ended December 31, 2025[41]. - The company experienced a mark-to-market adjustment on interests in the GWG Wind Down Trust amounting to $546,000[45]. - The intersegment provision for credit losses on collateral comprised of interests in the GWG Wind Down Trust was recorded as zero for the three months ended December 31, 2025[41]. - The company reported an intersegment provision for credit losses of $1,345,000 related to interests in the GWG Wind Down Trust[45]. Non-GAAP Measures - Adjusted operating income excludes non-cash asset impairment and share-based compensation expenses[48]. - The company emphasizes that non-GAAP financial measures are intended to provide supplemental insights into its operating performance[46].

Third quarter results show strengthened corporate foundation through cost management and increased operational efficiencyDALLAS, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets, today reported its financial results for the fiscal 2026 third quarter, which ended December 31, 2025. Highlights of the quarter inclu ...

DALLAS, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets, today announced that it will release its Third Quarter Fiscal 2026 financial results and host a webcast to present the results on Tuesday, February 17, 2026. The webcast will take place that day at 5:30 p.m. Eastern Standard Time. To listen to the webcast ...

Core Viewpoint - Beneficient has successfully settled all claims related to GWG Holdings, allowing the company to refocus on its business strategy and shareholder value creation [1][2][3]. Group 1: Settlement Details - The United States District Court for the Northern District of Texas has approved a settlement agreement that resolves all GWG-related claims against Beneficient and its associated parties [1][2]. - The settlement was reached for a sum within applicable insurance policy limits and does not involve any admission of fault or liability by Beneficient or its directors [2]. Group 2: Future Focus - With the settlement approved, the company aims to concentrate on executing its business strategy and enhancing shareholder value [3]. - The company’s interim CEO expressed satisfaction with the court's approval, indicating a renewed focus on business operations [3]. Group 3: Outstanding Claims - Despite the settlement, there are still outstanding GWG-related claims against other parties, including claims against entities associated with Beneficient's former CEO, which may involve indemnification obligations [4]. Group 4: Company Overview - Beneficient is focused on democratizing the global alternative asset investment market, providing solutions for mid-to-high net worth individuals and small to midsized institutions [5]. - The company operates under the Technology-Enabled Fiduciary Financial Institution (TEFFI) Act in Kansas, ensuring regulatory oversight [6].

Core Viewpoint - Beneficient has successfully repaid approximately $27.5 million in loans, fulfilling 100% of the outstanding principal owed to a Texas state bank, which reflects the company's commitment to strengthening its balance sheet and reducing leverage [1][3][4]. Group 1: Loan Repayment Details - The repayment of $27.5 million was completed approximately ten months ahead of the original maturity date [2]. - The company still owes approximately $1.66 million to Hicks Holdings for interest and fees, which it plans to pay over time based on mutually agreed terms [2][3]. Group 2: Financial Strategy and Impact - The early repayment is seen as a significant milestone for Beneficient, emphasizing its disciplined approach to capital management [4]. - The elimination of this debt is expected to enhance the company's financial flexibility and support its strategic priorities [3][4]. Group 3: Company Overview - Beneficient aims to democratize the global alternative asset investment market by providing solutions to underserved investors, including mid-to-high net worth individuals and small-to-midsized institutions [5]. - The company's subsidiary, Beneficient Fiduciary Financial, L.L.C., operates under the regulatory framework of the State of Kansas [6].

Core Insights - Beneficient congratulated 15 Kansas communities for receiving a total of $337,833 in SEED grants aimed at strategic economic expansion and development [1][3] - The SEED program is funded through the Kansas Technology-Enabled Fiduciary Financial Institutions (TEFFI) Act, under which Beneficient's subsidiary received the first TEFFI charter in the state [2][4] - Since its inception in 2021, the SEED program has allocated over $3.5 million to Kansas communities, enhancing quality-of-life projects [3] Funding and Contributions - The 2025 SEED grants, combined with local matching contributions, amount to nearly $1.1 million in total investment for small communities with populations under 5,000 [3][5] - Awardees are required to provide at least a 10% match and complete their projects within 12 months, leveraging over $744,000 in local contributions [5] Company Mission and Operations - Beneficient aims to democratize the global alternative asset investment market by providing solutions for mid-to-high net worth individuals and small-to-midsized institutions [6] - The company plays a significant role in supporting local initiatives such as childcare, community spaces, and food access through its TEFFI Development and Expansion Fund [4][6]