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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Revenues        
Investment income, net $ 4,742,000 $ 7,448,000 $ 24,311,000 $ 7,935,000
Loss on financial instruments, net (related party of $(8), $(18,691), $(546) and $(64,217), respectively) (523,000) (18,024,000) (1,885,000) (64,260,000)
Interest and dividend income 10,000 118,000 34,000 348,000
Trust services and administration revenues (related party of $8, $8, $23 and $23, respectively) 188,000 158,000 564,000 173,000
Other income 2,000 65,000 2,000 65,000
Total revenues 4,419,000 (10,235,000) 23,026,000 (55,739,000)
Operating expenses        
Employee compensation and benefits 2,929,000 7,340,000 13,914,000 58,561,000
Interest expense (related party of $3,140, $3,018, $9,330 and $5,843, respectively) 3,240,000 4,671,000 11,848,000 13,569,000
Professional services 5,083,000 4,970,000 17,884,000 22,000,000
Provision for credit losses 0 0 1,000,000 0
Loss on impairment of goodwill 0 883,223,000 3,692,000 2,286,212,000
Release of loss contingency related to arbitration award 0 0 (54,973,000) 0
Other expenses (related party of $723, $2,096, $2,111 and $6,317, respectively) 2,680,000 5,512,000 8,551,000 17,604,000
Total operating expenses 13,932,000 905,716,000 1,916,000 2,397,946,000
Operating income (loss) (9,513,000) (915,951,000) 21,110,000 (2,453,685,000)
(Gain) loss on liability resolution 0 0 (23,462,000) 0
Loss on extinguishment of debt, net 0 8,846,000 0 8,846,000
Operating income (loss) before income taxes (9,513,000) (924,797,000) 44,572,000 (2,462,531,000)
Income tax expense 713,000 75,000 741,000 75,000
Net income (loss) (10,226,000) (924,872,000) 43,831,000 (2,462,606,000)
Plus: Net loss attributable to noncontrolling interests 6,076,000 386,935,000 21,379,000 445,683,000
Less: Noncontrolling interest guaranteed payment (4,489,000) (4,229,000) (13,268,000) (12,501,000)
Net income (loss) attributable to Beneficient common shareholders (8,639,000) (542,166,000) 51,942,000 (2,029,424,000)
Other comprehensive income (loss):        
Unrealized gain on available-for-sale debt securities (120,000) 51,000 (115,000) 4,236,000
Total comprehensive income (loss) (8,759,000) (542,115,000) 51,827,000 (2,025,188,000)
Less: comprehensive (loss) gain attributable to noncontrolling interests (120,000) 51,000 (115,000) 4,236,000
Total comprehensive income (loss) attributable to Beneficient (8,639,000) (542,166,000) 51,942,000 (2,029,424,000)
Related Party        
Revenues        
Loss on financial instruments, net (related party of $(8), $(18,691), $(546) and $(64,217), respectively) 8,000 18,691,000 546,000 64,217,000
Trust services and administration revenues (related party of $8, $8, $23 and $23, respectively) 8,000 8,000 23,000 23,000
Operating expenses        
Interest expense (related party of $3,140, $3,018, $9,330 and $5,843, respectively) 3,140,000 3,018,000 9,330,000 5,843,000
Other expenses (related party of $723, $2,096, $2,111 and $6,317, respectively) 723,000 2,096,000 2,111,000 6,317,000
Class A        
Operating expenses        
Net income (loss) attributable to Beneficient common shareholders $ (8,395,000) $ (504,615,000) $ 48,645,000 $ (1,888,863,000)
Net income (loss) per common share        
Net income (loss) per common share - basic (in dollars per share) $ (1.32) $ (158.36) $ 10.30 $ (668.31)
Net income (loss) per common share - diluted (in dollars per share) $ (1.32) $ (158.36) $ 0.12 $ (668.31)
Class B        
Operating expenses        
Net income (loss) attributable to Beneficient common shareholders $ (244,000) $ (37,551,000) $ 3,297,000 $ (140,561,000)
Net income (loss) per common share        
Net income (loss) per common share - basic (in dollars per share) $ (1.02) $ (156.95) $ 13.78 $ (587.49)
Net income (loss) per common share - diluted (in dollars per share) $ (1.02) $ (156.95) $ 0.12 $ (587.49)
Variable Interest Entity, Primary Beneficiary        
Operating expenses        
Loss on extinguishment of debt, net $ 0 $ (8,846,000) $ 0 $ (8,846,000)
Plus: Net loss attributable to noncontrolling interests 1,232,000 26,240,000 6,281,000 43,698,000
Consolidated Entity, Excluding Consolidated VIE        
Operating expenses        
Plus: Net loss attributable to noncontrolling interests $ 4,844,000 $ 360,695,000 $ 15,098,000 $ 401,985,000