0001775734-26-000012
SEC filingBeneficient reported Q3 2026 (period ending December 31, 2025) net income attributable to common shareholders of $19.9 million, driven primarily by a $43.8 million gain on financial instruments, net, which offset a $25.4 million net investment loss. Total revenues were $18.7 million, consisting of investment income/loss, gains on financial instruments, interest/dividend income, and trust services revenue. Operating income was $3.9 million with total operating expenses of $14.7 million. The company generated negative operating cash flow of -$34.7 million but positive investing cash flow of $59.2 million from dispositions of alternative assets. The balance sheet shows total assets of $337.9 million, total liabilities of $375.9 million, and an equity deficit of -$128.6 million. Cash and equivalents increased by $6.5 million to $1.3 million. No prior period comparisons are provided in the XBRL data for QoQ analysis.
Beneficient reported Q3 2026 (period ending December 31, 2025) financial results showing net income of $5.9 million and net income attributable to common shareholders of $19.9 million. The company generated total revenues of $18.7 million, primarily from a $43.8 million gain on financial instruments, net, which was partially offset by a $25.4 million net investment loss. Operating income was $3.9 million with total operating expenses of $14.7 million, including $3.0 million in employee compensation, $5.8 million in interest expense, $4.0 million in professional services, and $2.0 million in other expenses. No prior period comparisons are provided in the XBRL data for quarter-over-quarter analysis.
The company's $18.7 million in total revenues consisted of multiple components: investment income (loss), net of -$25.4 million; gain (loss) on financial instruments, net of $43.8 million; interest and dividend income of $10,000; and trust services and administration revenues of $188,000. Other income was $0. The significant gain on financial instruments was the primary driver of positive revenue performance, offsetting the substantial investment loss. No segment breakdown or geographic revenue mix is disclosed in the provided data.
Operating margin was 20.9% based on operating income of $3.9 million and total revenues of $18.7 million. The company reported net income before taxes of $5.9 million and income tax expense of $0. Net income margin was 31.6% relative to total revenues. The cost structure shows operating expenses dominated by interest expense ($5.8 million), professional services ($4.0 million), employee compensation ($3.0 million), and other expenses ($2.0 million). No gross profit or gross margin figures are disclosed in the provided data.
Operating activities used $34.7 million in cash despite $5.9 million net income, with significant non-cash adjustments including $43.8 million gain on financial instruments and $12.6 million non-cash interest expense. Investing activities provided $59.2 million primarily from $50.2 million proceeds from disposition of alternative assets. Financing activities used $18.0 million mainly from $19.1 million payments on related party debt. Cash increased by $6.5 million to $1.3 million. The balance sheet shows total assets of $337.9 million including $205.8 million investments at fair value and $56.2 million derivative asset. Total liabilities were $375.9 million including $241.8 million accounts payable, $100.3 million debt due to related parties, and $33.3 million other liabilities. Equity deficit was -$128.6 million with accumulated deficit of -$2.06 billion.
No management guidance, strategic priorities, or specific risk factors are disclosed in the provided XBRL data or document content. The filing contains only financial statement data without forward-looking statements or outlook commentary.