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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

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- References

No definition available.

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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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