DALLAS, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), whose subsidiary Beneficient Fiduciary Financial, L.L.C., is a Technology-Enabled Fiduciary Financial Institution (TEFFI) today provided an update to the State of Kansas Joint Committee on Fiduciary Financial Institutions Oversight about its business operations, the digital innovation occurring in the alternative asset industry and related economic development activity for the benefit of Kansas communities under t ...

Table of Contents Table of Contents Table of Contents Table of Contents CONSOLIDATED Six Months Ended September 30, 2024 and 2023 and derivative liability. Loss on financial instruments, net for the six months ended September 30, 2023 was primarily driven by a $41.8 million decrease in the value of our interests in the GWG Wind Down Trust. Such decrease is net of a $13.7 million gain recognized upon reclassification of unrealized net gains related to the Company's previously classified available-for-sale de ...

Reports Second Quarter of Positive GAAP Net Income Maintains Cost Efficient Operating Profile DALLAS, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled financial services holding company that provides liquidity and related trust and custody services to holders of alternative assets, today reported its financial results for the fiscal 2025 second quarter, which ended September 30, 2024. Commenting on the fiscal 2025 second quarter results, Beneficient ...

DALLAS, Nov. 11, 2024 (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 through its proprietary online platform, AltAccess, announced that it will release its Second Quarter Fiscal 2025 financial results on Thursday, November 14, 2024. Beneficient will host a webcast to present the results on Friday, November 15, 2024 at 8:00 ...

DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company announces that its subsidiary Beneficient Company Holdings, L.P. consummated a previously announced transaction pursuant to which approximately $126 million of its preferred equity was redesignated as non-redeemable. As a result of the transaction, which was approved by the Company's founders holding the majority of the preferred equity, Beneficient expects a ...

DALLAS, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company, today announced the appointment of Patrick J. Donegan as an independent member of the Company's Board of Directors as of September 30, 2024. In addition to being an independent director, he was appointed to serve on the Audit, Products and Related Party Transactions, Credit and Enterprise Risk committees of the Board. Mr. Donegan brings almost thirty years o ...

Financial Data and Key Metrics Changes - The company reported investments with a fair value of $331.4 million, up from $329.1 million at the end of the previous fiscal year [21] - Revenues for Q1 2025 were $10.0 million, compared to a negative $2.7 million in Q1 2024, largely due to a release of a recognized loss contingency accrual of $55.0 million [21][22] - Operating expenses decreased by 70% to $17.3 million in Q1 2025 from $56.9 million in Q1 2024 [21] Business Line Data and Key Metrics Changes - **Ben Liquidity**: Recognized $10.8 million in base interest revenue, up 1.9% from the prior quarter, with an operating loss of $0.5 million compared to an operating loss of $29.4 million in the previous quarter [22] - **Ben Custody**: NAV of alternative assets was $380.7 million, slightly down from $381.2 million, with revenues of $5.4 million, down from $5.6 million in the prior quarter [23] Market Data and Key Metrics Changes - The unmet demand for liquidity in the U.S. alternative asset market is estimated at over $61 billion annually, projected to grow to more than $100 billion within the next five years [14] - The market for general partners seeking liquidity for restructurings exceeds $100 billion annually, indicating a significant opportunity for the company [14] Company Strategy and Development Direction - The company aims to address the $400 billion market demand for liquidity restructuring solutions and primary capital commitments through its fintech platform, Ben AltAccess, and the newly launched Machine Automated Pricing System (MAPS) [10][15] - The company is focused on scaling its capital in line with the demand for liquidity and primary capital products, enhancing its balance sheet over time [17] Management's Comments on Operating Environment and Future Outlook - Management highlighted a positive legal update, including the vacating of a $55.3 million arbitration award, which is expected to improve the company's financial position [18] - The SEC has terminated its investigation into the company, which is seen as a positive development for future operations [19] Other Important Information - The company has been listed on NASDAQ for a year, increasing market visibility and confidence among target audiences [11] - The custody business returned to profitability in the quarter ending June 30 [12] Q&A Session Summary - The call concluded without a formal Q&A session, as the operator indicated that participants could disconnect after the financial update [25]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.001 per share BENF Nasdaq Stock Market LLC Warrants, each whole warrant exercisable for one share of Class A common stock, par value $0.001 per share, and one share of Series A convertible preferred stock, par value $0.001 per share BENFW Nasdaq Stock Market LLC FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) O ...

Financial Performance - Beneficient reported revenues of $10.0 million for Q1 fiscal 2025, a significant improvement from $(2.7) million in the same quarter of fiscal 2024[1]. - Total revenues for the three months ended June 30, 2024, were $10,046 thousand, compared to a loss of $2,743 thousand in the same period of 2023, indicating a significant recovery[25]. - Net income attributable to Beneficient common shareholders for the same period was $47,667 thousand, a substantial improvement from a net loss of $1,115,523 thousand in the prior year[25]. - Operating income before income taxes was $44,338 thousand, a notable increase from a loss of $1,155,970 thousand in the previous year[25]. - Total segment revenues attributable to Ben's equity holders for Fiscal Q1 2025 were $16,235,000, a decrease of 0.2% compared to $16,273,000 in the prior quarter[14]. - Total adjusted segment revenues attributable to Ben's equity holders were $16,242,000, down 0.4% from $16,306,000 in the previous quarter[18]. - Net income attributable to Ben's common shareholders was $47,667,000, compared to a loss of $66,217,000 in the prior quarter[20]. - Total segment operating income attributable to Ben's equity holders was $44,864,000, a significant improvement from a loss of $195,051,000 in the prior quarter, reflecting a change of 98.3%[15]. Assets and Liabilities - Total assets as of June 30, 2024, were $361,304 thousand, a decrease from $368,501 thousand as of March 31, 2024[26]. - Total liabilities decreased to $258,542 thousand from $309,567 thousand in the previous quarter, reflecting improved financial health[26]. - As of June 30, 2024, Beneficient had cash and cash equivalents of $4.4 million and total debt of $120.6 million[9]. - Cash and cash equivalents decreased to $4,399 thousand from $7,913 thousand in the previous quarter, indicating a need for liquidity management[26]. Operating Expenses - The company achieved its first profitable quarter as a public company, with operating expenses of $(34.3) million, influenced by a $55.0 million release of a loss contingency accrual[1]. - The company reported a goodwill impairment of $3,394 thousand during the quarter, compared to $1,096,305 thousand in the same period last year[25]. - Operating expenses, excluding goodwill impairment and arbitration award adjustments, were $17,287 million for the three months ended June 30, 2024[31]. - The release of loss contingency related to arbitration awards contributed $54,973 million to operating expenses[31]. Investment and Portfolio - Investments at fair value increased to $331.4 million as of June 30, 2024, up from $329.1 million at the end of the previous fiscal year[12]. - The loan portfolio was supported by a diversified alternative asset collateral portfolio, with a total gross loan balance of $566 million and a net loan balance of $256 million after an allowance for credit losses of $311 million[4]. - NAV of alternative assets held in custody was $380.7 million, slightly down from $381.2 million as of March 31, 2024[7]. - The GP Preferred Liquidity Provider Program expanded to 20 funds with $1.5 billion in committed capital, compared to 7 funds with $300 million in committed capital at the end of 2022[1]. Revenue Segments - Ben Liquidity recognized $10.8 million of interest income for Q1 fiscal 2025, a 1.9% increase from the previous quarter[5]. - Ben Liquidity segment revenue increased by 1.9% to $10,849,000 from $10,644,000 in the previous quarter[14]. - Ben Custody segment revenue decreased by 3.4% to $5,382,000 compared to $5,573,000 in the prior quarter[14]. - Adjusted segment operating income for Ben Liquidity improved to a loss of $509,000 from a loss of $29,408,000 in the previous quarter, marking a 98.3% improvement[18]. - Corporate & Other segment reported an operating income of $44,091,000, a significant recovery from a loss of $115,637,000 in the previous quarter[20]. Legal and Regulatory Matters - The company announced a court ruling vacating a previously disclosed arbitration award of approximately $55.3 million against it[8]. - The company is actively involved in addressing legal and professional fees related to GWG Holdings bankruptcy, which may affect future financial results[30]. - Future outlook includes a focus on managing credit losses related to receivables from related parties and ongoing legal matters[32]. Innovation and Services - The company is focused on innovating the alternative asset investment market and expanding its Preferred Liquidity Provider Program[24]. - Beneficient's AltQuote™ tool provides customers with potential exit options within minutes, enhancing service efficiency[23].

Maintained Cost-Efficient Operating Profile New Machine-Automated Pricing System Enhances Portfolio Growth Capabilities in Support of Multibillion Dollar Liquidity and Primary Capital Product Launch DALLAS, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company that provides liquidity and related trust and custody services to holders of alternative assets, today reported its financial results for the fiscal 2025 first qu ...