XML 48 R37.htm IDEA: XBRL DOCUMENT
v3.25.3

Net Income (Loss) per Share (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2025
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 six months ended September 30, 2025 and 2024, is as follows:
(Dollars in thousands, except per share amounts) | Three Months Ended September 30, |  | Six Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Net income (loss) | $ | (17,907) |  |  | $ | 9,747 |  |  | $ | (110,555) |  |  | $ | 54,057 |
Plus: Net loss attributable to noncontrolling interests | 18,971 |  | 7,590 |  | 51,167 |  | 15,303
Less: Noncontrolling interest guaranteed payment | (4,693) |  | (4,423) |  | (9,317) |  | (8,779)
Net income (loss) attributable to Beneficient common shareholders | $ | (3,629) |  |  | $ | 12,914 |  |  | $ | (68,705) |  |  | $ | 60,581 |
Net income (loss) attributable to Class A common shareholders | (3,539) |  |  | 12,270 |  |  | (66,950) |  |  | 57,040 |
Net income (loss) attributable to Class B common shareholders | (90) |  |  | 644 |  |  | (1,755) |  |  | 3,541 |
Basic weighted average of common shares outstanding |  |  |  |  |  |  |
Class A | 9,445,117 |  |  | 4,122,438 |  |  | 9,127,728 |  |  | 3,910,871 |
Class B | 239,256 |  |  | 239,256 |  |  | 239,256 |  |  | 239,256 |
Basic net income (loss) attributable to Beneficient per common share |  |  |  |  |  |  |
Class A | $ | (0.37) |  |  | $ | 2.98 |  |  | $ | (7.33) |  |  | $ | 14.58 |
Class B | $ | (0.37) |  |  | $ | 2.69 |  |  | $ | (7.33) |  |  | $ | 14.80 |
Diluted net income attributable to Beneficient per common share for the three and six months ended September 30, 2024, is as follows:
(Dollars in thousands, except per share amounts) |  |  | Three Months Ended September 30, |  | Six Months Ended September 30,
Diluted income per share |  |  | 2024 |  | 2024
Net income attributable to Beneficient common shareholders - Basic |  |  | $ | 12,914 |  |  | $ | 60,581 |
Less: Net loss attributable to noncontrolling interests - Ben |  |  | (3,067) |  |  | (10,254) |
Plus: Noncontrolling interest guaranteed payment |  |  | 4,423 |  |  | 8,779 |
Net income attributable to Beneficient common shareholders - Diluted |  |  | $ | 14,270 |  |  | $ | 59,106 |
Basic weighted average of common shares outstanding (Class A and Class B) |  |  | 4,361,694 |  |  | 4,150,127 |
Dilutive effect of: |  |  |  |  |
Series B Preferred Stock |  |  | 165,036 |  |  | 165,036 |
Class S Ordinary |  |  | 66,982 |  |  | 66,982 |
Class S Preferred |  |  | 605 |  |  | 605 |
Preferred Series A Subclass 0 |  |  | 102,832,018 |  |  | 77,582,588 |
Preferred Series A Subclass 1 |  |  | 330,926,963 |  |  | 249,670,975 |
Restricted Stock Units |  |  | 561,766 |  |  | 296,608 |
Diluted weighted average of common shares outstanding (Class A and Class B) |  |  | 438,915,064 |  |  | 331,932,921 |
Diluted net income attributable to Beneficient per common share (Class A and Class B) |  |  | $ | 0.03 |  |  | $ | 0.18 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | In computing diluted net income (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 six months ended September 30, 2025 and 2024, were as follows:
| Shares |  | Shares
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Series B Preferred Stock | 39,177,896 |  |  | — |  |  | 36,021,227 |  |  | — |
Class S Ordinary | 66,982 |  |  | — |  |  | 66,982 |  |  | — |
Class S Preferred | 605 |  |  | — |  |  | 605 |  |  | — |
Preferred Series A Subclass 0 | 691,202,319 |  |  | — |  |  | 754,616,263 |  |  | — |
Preferred Series A Subclass 1 | 2,224,380,003 |  |  | — |  |  | 2,428,454,418 |  |  | — |
Restricted Stock Units | 1,425,500 |  |  | 121,721 |  |  | 1,423,045 |  |  | 122,098 |
Stock Options | 200,000 |  |  | — |  |  | 200,000 |  |  | — |
Convertible Debt | — |  |  | 396,174 |  |  | — |  |  | 199,169 |
Warrants | 26,025,107 |  |  | 31,270,860 |  |  | 26,025,107 |  |  | 31,073,825 |
Total anti-dilutive shares | 2,982,478,412 |  |  | 31,788,755 |  |  | 3,246,807,647 |  |  | 31,395,092 |

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 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 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration