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 ...

DALLAS, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company, is excited to announce the latest advancements to its fintech platform, AltAccess®. The new release of AltAccess introduces the MachineAutomated Pricing System ("MAPS"), which incorporates Ben's formula-based pricing model for qualified fiduciary financings and is engineered to optimize dynamic pricing and real-time net asset valuations of alternative assets ...

DALLAS, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ: BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company that provides liquidity, primary capital solutions and related trust and custody services to holders of alternative assets, announced that it will present at the Sidoti Micro-Cap Virtual Conference, which will take place virtually on August 14-15, 2024. The Company will present at 2:30 p.m. EDT on Thursday, August 15, 2024. Investors can register for the conf ...

. . . Beneficient Joins B2i Digital Family of Featured Companies August 06, 2024 2:57 PM EDT | Source: Reportable, Inc. New York, New York--(Newsfile Corp. - August 6, 2024) - Beneficient (NASDAQ: BENF), a technologyenabled platform providing exit option solutions, primary capital solutions, and related trust and custody services to holders of alternative assets, today announced it has joined the B2i Digital family of featured companies. B2i Digital will leverage its targeted marketing expertise to increase ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-41715 Beneficient (Exact name of registrant as specified in its charter) | | | |---------------------------------|-------------------- ...

Beneficient (NASDAQ:BENF) Q4 2024 Earnings Conference Call July 9, 2024 8:30 AM ET Company Participants Dan Callahan - IR Brad Heppner - CEO and Chairman Greg Ezell - CFO Operator Good day and thank you for standing by. Welcome to Beneficient Company's Fourth Quarter Fiscal 2024 Earnings Conference Call and Webcast. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Dan Callahan. Please go ahead. Dan Callahan Good morning and thank you for joining u ...

Launched New Products and Services, Reduced Operating Costs and Improved Financial Position Expanded GP Solutions Program to Capitalize on Adjacent Market Growth Opportunities in Fiscal 2025 DALLAS, July 09, 2024 (GLOBE NEWSWIRE) -- Beneficient (NASDAQ:BENF) ("Ben" or the "Company"), a technology-enabled financial services holding company that provides liquidity, primary capital solutions and related trust and custody services to holders of alternative assets, today reported its financial results for the fi ...

As a result, the Company requires additional time to update its Annual Report on Form 10-K for the fiscal year ended March 31, 2024 (the "Annual Report") and complete its procedures related to the updated information prior to filing the Annual Report. Additionally, the Company's earnings webcast and earnings release for its fourth quarter and Fiscal 2024 previously scheduled for July 2, 2024 at 8:30 a.m. Eastern Daylight Time has been postponed. The Company will make an announcement to provide the date and ...