XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Net Loss per Share | 9 Months Ended
--- | ---
Dec. 31, 2023
Earnings Per Share [Abstract] |
Net Loss per Share | Net Loss per Share Basic and diluted net income (loss) attributable to Beneficient per common share for the three and nine months ended December 31, 2023 and 2022, are as follows:
(Dollars in thousands) | Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net loss | $ | (924,872) |  |  | $ | (42,850) |  |  | $ | (2,462,606) |  |  | $ | (203,085) |
Less: Net (income) loss attributable to noncontrolling interests | 386,935 |  | 9,945 |  | 445,683 |  | 118,843
Less: Noncontrolling interest guaranteed payment | (4,229) |  | (3,984) |  | (12,501) |  | (11,778)
Net loss attributable to Beneficient common shareholders | $ | (542,166) |  |  | $ | (36,889) |  |  | $ | (2,029,424) |  |  | $ | (96,020) |
Net loss attributable to Class A common shareholders | (504,615) |  |  | (33,347) |  |  | (1,888,863) |  |  | (86,799) |
Net loss attributable to Class B common shareholders | (37,551) |  |  | (3,542) |  |  | (140,561) |  |  | (9,221) |
Weighted average of common shares outstanding - basic and diluted |  |  |  |  |  |  |
Class A | 254,923,039 |  |  | 180,178,268 |  |  | 226,105,978 |  |  | 180,178,268 |
Class B | 19,140,451 |  |  | 19,140,451 |  |  | 19,140,451 |  |  | 19,140,451 |
Net loss attributable to Beneficient per common share - Basic and Diluted |  |  |  |  |  |  |
Class A | $ | (1.98) |  |  | $ | (0.19) |  |  | $ | (8.35) |  |  | $ | (0.48) |
Class B | $ | (1.96) |  |  | $ | (0.19) |  |  | $ | (7.34) |  |  | $ | (0.48) |
In computing diluted net loss per share, we considered potentially dilutive shares. Anti-dilutive shares not recognized in the diluted net loss per share calculation for the three and nine months ended December 31, 2023 and 2022, were as follows:
| Shares |  | Shares
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Preferred Series B-1 | 225,095 |  |  | — |  |  | 460,215 |  |  | — |
Class S Ordinary | 5,358,597 |  |  | 5,835,934 |  |  | 5,409,349 |  |  | 5,859,610 |
Class S Preferred | 48,403 |  |  | 105,168 |  |  | 48,403 |  |  | 108,494 |
Preferred Series A Subclass 0 | 164,367,001 |  |  | 19,796,120 |  |  | 38,140,683 |  |  | 19,795,957 |
Preferred Series A Subclass 1 | 528,954,636 |  |  | 63,706,518 |  |  | 126,357,936 |  |  | 63,786,330 |
Preferred Series C Subclass 1 | — |  |  | 16,068,912 |  |  | 8,087,485 |  |  | 16,068,912 |
Restricted Stock Units | 1,346,254 |  |  | 8,379,483 |  |  | 8,429,346 |  |  | 8,430,027 |
Warrants | 30,874,686 |  |  | — |  |  | 26,771,105 |  |  | — |
Total anti-dilutive shares | 731,174,672 |  |  | 113,892,135 |  |  | 213,704,522 |  |  | 114,049,330 |
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. Conversion of Series B-1 Preferred Stock On October 3, 2023, 3,768,995 shares of Series B-1 preferred stock converted into 13,805,841 shares of Class A common stock at a price per share of approximately $2.73.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration