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Net Income (Loss) per Share (Tables)

9 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

Basic net income (loss) attributable to Beneficient per common share for the three and nine months ended December 31, 2024 and 2023, is as follows:

(Dollars in thousands, except per share amounts)			Three Months Ended December 31,												Nine Months Ended December 31,
			2024						2023						2024						2023
Net income (loss)			$	(10,226)					$	(924,872)					$	43,831					$	(2,462,606)
Plus: Net loss attributable to noncontrolling interests			6,076						386,935						21,379						445,683
Less: Noncontrolling interest guaranteed payment			(4,489)						(4,229)						(13,268)						(12,501)
Net income (loss) attributable to Beneficient common shareholders			$	(8,639)					$	(542,166)					$	51,942					$	(2,029,424)
Net income (loss) attributable to Class A common shareholders			(8,395)						(504,615)						48,645						(1,888,863)
Net income (loss) attributable to Class B common shareholders			(244)						(37,551)						3,297						(140,561)
Basic weighted average of common shares outstanding
Class A			6,336,248						3,186,538						4,722,270						2,826,325
Class B			239,256						239,256						239,256						239,256
Basic net income (loss) attributable to Beneficient per common share
Class A			$	(1.32)					$	(158.36)					$	10.30					$	(668.31)
Class B			$	(1.02)					$	(156.95)					$	13.78					$	(587.49)

Diluted net income attributable to Beneficient per common share for the nine months ended December 31, 2024, is as follows:

(Dollars in thousands, except per share amounts)
Diluted income per share									Nine Months Ended December 31, 2024
Net income attributable to Beneficient common shareholders - Basic									$	51,942
Less: Net loss attributable to noncontrolling interests - Ben									(15,098)
Plus: Noncontrolling interest guaranteed payment									13,268
Net income attributable to Beneficient common shareholders - Diluted									$	50,112
Basic weighted average of common shares outstanding (Class A and Class B)									4,961,526
Dilutive effect of:
Series B Preferred Stock									165,036
Class S Ordinary									66,982
Class S Preferred									605
Preferred Series A Subclass 0									100,007,501
Preferred Series A Subclass 1									321,837,296
Restricted Stock Units									480,456
Diluted weighted average of common shares outstanding (Class A and Class B)									427,519,402
Diluted net income attributable to Beneficient per common share (Class A and Class B)									$	0.12

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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, 2024 and 2023, were as follows:

			Shares												Shares
			Three Months Ended December 31,												Nine Months Ended December 31,
			2024						2023						2024						2023
Series B Preferred Stock			165,036						2,814						—						5,753
Class S Ordinary			66,982						66,982						—						67,617
Class S Preferred			605						605						—						605
Preferred Series A Subclass 0			234,525,450						164,367,001						—						38,140,683
Preferred Series A Subclass 1			754,733,754						528,954,636						—						126,357,936
Preferred Series C Subclass 1			—						—						—						101,094
Restricted Stock Units			1,076,888						16,828						198,013						105,367
Stock Options			144,565						—						48,364						—
Convertible Debt			1,008,443						—						469,908						—
Warrants			25,708,168						30,874,686						25,169,633						26,771,105
Total anti-dilutive shares			1,017,429,891						724,283,552						25,885,918						191,550,160

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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