Every 10-Q that Beneficient (BENF) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BENF and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BENF filings page.
Beneficient filed results for the quarter ended June 30, 2026, showing a small net loss attributable to common shareholders of $6.8 million (basic and diluted loss per share $0.47), a substantial improvement from a $65.1 million loss a year earlier. Total revenues turned positive to $12.2 million, driven mainly by investment income on alternative assets held in consolidated Customer ExAlt Trusts.
Total assets were $250.9 million, including $212.5 million of investments and $5.6 million of cash, against total liabilities of $344.5 million, redeemable noncontrolling interests of $90.5 million, and a shareholders’ equity deficit of $184.1 million. Related-party debt totaled $96.8 million, excluding $33.2 million of accrued interest. Management discloses substantial doubt about the company’s ability to continue as a going concern due to limited liquidity, sizeable related-party borrowings, and an arbitration award of about $69.7 million including interest.
The company notes prior and ongoing Nasdaq listing pressures that led to an 80-for-1 reverse stock split in 2024 and a further 8-for-1 reverse split in 2025, with all historical share data retroactively adjusted. To improve liquidity, Beneficient relies on a reduced but extended $100 million Amended & Restated Standby Equity Purchase Agreement with Yorkville, under which up to 32,467,532 Class A shares are registered for potential sale, which the company states will dilute existing holders. The filing also highlights events of default alleged under a major related-party loan, a confirmed arbitration award, extensive use of variable interest entities, and a long list of business, legal, control, and market risks.
Beneficient (BENF) reports mixed quarterly results alongside serious liquidity pressures and going‑concern risk. For the quarter ended December 31, 2025, revenue rose to $18.7 million and net income attributable to common shareholders reached $19.9 million, helped by a $43.8 million gain on financial instruments despite a $25.4 million investment loss.
Over the first nine months of the fiscal year, the company posted a $104.6 million net loss and a $48.8 million loss attributable to common shareholders. Cash and cash equivalents were $7.9 million against total liabilities of $375.9 million and a shareholders’ equity deficit of $128.6 million. Management discloses substantial doubt about the ability to continue as a going concern due to recurring losses, significant related‑party debt, covenant and payment defaults, and a $62.8 million confirmed arbitration award.
To maintain Nasdaq listing, Beneficient executed 1‑for‑80 and 1‑for‑8 reverse stock splits in 2024 and 2025, leaving 14.1 million Class A shares issued as of December 31, 2025 and 14.2 million Class A shares outstanding by February 11, 2026. The company highlights potential access to up to approximately $240.7 million of additional equity through an existing standby equity purchase agreement, though any usage depends on market conditions.
Beneficient (BENF) filed its quarterly report for the period ended September 30, 2025, showing continued losses and balance sheet pressure. Total assets were $316,233 thousand versus $354,875 thousand at March 31, 2025, while total liabilities rose to $368,534 thousand, leaving a total equity deficit of $142,827 thousand.
For the quarter, the company reported negative total revenues of $2,763 thousand, driven by investment income (loss), net of $(3,162) thousand, and an operating loss of $17,864 thousand. Net loss attributable to common shareholders was $(3,629) thousand for the quarter and $(68,705) thousand for the six months.
The filing highlights substantial risks, including Nasdaq listing compliance issues, events of default under the HCLP Loan Agreement, extensive related‑party indebtedness, ongoing litigation and regulatory matters, and a going concern warning tied to recurring losses, negative operating cash flows and an adverse arbitration award. As of November 10, 2025, there were 110,758,536 Class A and 239,256 Class B common shares outstanding on a post‑reverse‑split basis.
Beneficient (BENF) reported a steep quarterly loss and heightened financial risk. For the quarter ended June 30, 2025, net loss attributable to common shareholders was $65,076,000, driven by negative investment results and a large accrual tied to an arbitration award.
Total revenues were a loss of $12,623,000, while operating expenses rose to $80,025,000 after recording an accrual of $62,831,000 related to an equity arbitration award. Cash and cash equivalents increased to $7,612,000, aided by investment monetizations, but the balance sheet shows a total equity (deficit) of $(120,397,000) and related party debt of $108,393,000.
Management states that existing debt maturities, default notices under the HCLP Loan Agreement, cross‑default provisions, and the confirmed arbitration award—accruing interest at 10.5%—raise substantial doubt about the company’s ability to continue as a going concern. As of June 30, 2025, approximately $240,700,000 remained available under the SEPA, which the company may use alongside further asset monetizations and potential refinancings.