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Net Loss per Unit | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2023 | Mar. 31, 2023
Earnings Per Share [Abstract] |  |
Net Loss per Unit |
11. | Net Loss per Share
Basic and diluted net income (loss) attributable to Beneficient. per common share for the three months ended June 30, 2023 and 2022, are as follows:
(Dollars in thousands) |  | Three Months Ended June 30, |
|  | 2023 |  |  | 2022 |
Net loss |  | $ | (1,155,970 | ) |  | $ | (86,348 | )
Less: Net income (loss) attributable to noncontrolling interests |  |  | 44,552 |  |  |  | 36,247 |
Less: Noncontrolling interest guaranteed payment |  |  | (4,105 | ) |  |  | (3,868 | )
Net loss attributable to Beneficient common shareholders |  | $ | (1,115,523 | ) |  | $ | (53,969 | )
Net loss attributable to Class A common shareholders |  |  | (1,013,454 | ) |  |  | (48,786 | )
Net loss attributable to Class B common shareholders |  |  | (102,069 | ) |  |  | (5,183 | )
Weighted average of common shares outstanding - basic and diluted |  |  |  |  |  |  |  |
Class A |  |  | 184,160,036 |  |  |  | 180,178,268 |
Class B |  |  | 19,140,451 |  |  |  | 19,140,451 |
Net loss attributable to Beneficient per common share—Basic and Diluted |  |  |  |  |  |  |  |
Class A |  | $ | (5.50 | ) |  | $ | (0.27 | )
Class B |  | $ | (5.33 | ) |  | $ | (0.27 | )
In computing diluted net loss per unit, we considered potentially dilutive units. Anti-dilutive units not recognized in the diluted net loss per unit calculation for the three months ended June 30, 2023 and 2022, were as follows:
|  | Shares |
|  | Three Months Ended June 30, |
|  | 2023 |  |  | 2022 |
Class S Ordinary |  |  | 5,511,967 |  |  |  | 5,834,296 |
Class S Preferred |  |  | 48,403 |  |  |  | 86,606 |
Preferred Series A Subclass 0 |  |  | 32,060,425 |  |  |  | 19,795,627 |
Preferred Series A Subclass 1 |  |  | 112,360,624 |  |  |  | 63,880,240 |
Preferred Series C Subclass 1 |  |  | 44,040,761 |  |  |  | 16,068,912 |
Restricted Stock Units |  |  | 7,966,488 |  |  |  | 8,419,978 |
Warrants |  |  | 29,696,875 |  |  |  | — |
Total anti-dilutive shares |  |  | 231,685,543 |  |  |  | 114,085,659 |
Conversion of BCH Preferred C-1 Unit Accounts Pursuant to the UPA, on July 10, 2023, the BCH Preferred C-1 Unit Accounts automatically converted into 44,040,761 shares of Class A common stock at approximately $4.66 per share, which represents the volume-weighted average trading price of the Class A common stock for the 20 trading days following the closing of the Business Combination. | 14. Net Loss per Unit Basic and diluted net loss attributable to The Beneficient Company Group L.P. per common unit for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, are as follows:
(Dollars in thousands) |  | Year Ended March 31, |  |  | Three Months Ended March 31, |  |  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
Net loss |  | $ | (252,100 | ) |  | $ | (100,906 | ) |  | $ | (105,133 | ) |  | $ | (50,872 | )
Less: Net income (loss) attributable to noncontrolling interests |  |  | 136,942 |  |  |  | 60,267 |  |  |  | 43,383 |  |  |  | (7,168 | )
Less: Noncontrolling interest guaranteed payment |  |  | (15,822 | ) |  |  | (3,788 | ) |  |  | (1,264 | ) |  |  | — |
Net loss attributable to The Beneficient Company Group, L.P. |  |  | (130,980 | ) |  |  | (44,427 | ) |  |  | (63,014 | ) |  |  | (58,040 | )
Less: Noncash deemed contribution on extinguishment of redeemable noncontrolling interest |  |  | — |  |  |  | — |  |  |  | 14,200 |  |  |  | — |
Less: Noncash deemed dividend on extinguishment of preferred equity interests of noncontrolling interest holders |  |  | — |  |  |  | — |  |  |  | (46,202 | ) |  |  | — |
Net loss attributable to The Beneficient Company Group, L.P. common unitholders |  | $ | (130,980 | ) |  | $ | (44,427 | ) |  | $ | (95,016 | ) |  | $ | (58,040 | )
Weighted average of common units outstanding—basic and diluted |  |  | 67,486,168 |  |  |  | 67,486,168 |  |  |  | 51,534,365 |  |  |  | 45,807,648 |
Net loss attributable to The Beneficient Company Group, L.P. per common unit—Basic and Diluted |  | $ | (1.94 | ) |  | $ | (0.66 | ) |  | $ | (1.84 | ) |  | $ | (1.27 | )
In computing diluted net loss per unit, we considered potentially dilutive units. Anti-dilutive units not recognized in the diluted net loss per unit calculation for the year ended March 31, 2023, the three months ended March 31, 2022, and the years ended December 31, 2021 and 2020, were as follows:
|  | Units |
|  | Year Ended March 31, |  |  | Three Months Ended March 31, |  |  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |
Class S Ordinary |  |  | 5,835,822 |  |  |  | 5,834,296 |  |  |  | 5,811,251 |  |  |  | 5,720,627 |
Class S Preferred |  |  | 93,678 |  |  |  | 88,606 |  |  |  | 72,126 |  |  |  | 15,288 |
Preferred Series A Subclass 0 |  |  | 19,795,997 |  |  |  | 19,706,509 |  |  |  | 1,664,303 |  |  |  | — |
Preferred Series A Subclass 1 |  |  | 78,972,518 |  |  |  | 79,711,972 |  |  |  | 121,956,222 |  |  |  | 127,088,320 |
Preferred Series C |  |  | 16,068,912 |  |  |  | 16,068,912 |  |  |  | 16,340,086 |  |  |  | 4,845,358 |
Restricted Equity Units |  |  | 6,832,280 |  |  |  | 6,250,572 |  |  |  | 6,191,271 |  |  |  | 5,569,576 |
Total anti-dilutive units |  |  | 127,599,207 |  |  |  | 127,660,867 |  |  |  | 152,035,259 |  |  |  | 143,239,169 |
Additionally, anti-dilutive units of BCH Preferred B.2 are not included in the table above, as these securities convert upon an Initial Listing Event and are therefore considered contingently convertible and based upon a condition that has not yet occurred as of the end of the reporting period.

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