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Beneficient (BENF) investor relations material

Beneficient Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary29 Sep, 2025

Executive summary

  • Fiscal 2025 marked a transformative year with significant cost reductions, new product launches, and improved financial positioning.

  • Streamlined operations, resolved key legal issues, and completed executive transitions post-year-end.

  • Focused on expanding Preferred Liquidity Provider and Primary Commitment programs and enhancing technology-driven services.

Financial highlights

  • Investments at fair value were $291.4M at March 31, 2025, down from $329.1M a year earlier.

  • Operating expenses for Q4 FY25 declined 91% to $14.3M from $151.9M in Q4 FY24; FY25 operating expenses were $16.2M, down from $2.5B in FY24.

  • Excluding non-cash goodwill impairment and loss contingency, Q4 FY25 operating expenses fell 50% YoY; FY25 operating expenses fell 52% YoY.

  • Net income attributable to common shareholders was $51.2M for FY25, compared to a loss of $2.1B in FY24.

  • Cash and cash equivalents stood at $1.3M, with debt of $117.9M as of March 31, 2025.

Outlook and guidance

  • Management is confident in building on current momentum, targeting market growth and value generation for stakeholders.

  • Plans to expand liquidity and commitment programs and further automate and enhance technology offerings.

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Frequently asked questions

Beneficient is a technology-enabled financial services company that offers liquidity solutions and related fiduciary, custody, and trust administrative services primarily for participants in the alternative asset industry in the United States. The company operates through several segments, including Ben Liquidity, Ben Custody, and Customer ExAlt Trusts. It provides products and services like alternative asset liquidity, fiduciary financing, custody, trust administration, and broker-dealer services, facilitated by its secure online platform, Ben AltAccess. Beneficient serves a variety of clients, including individual and institutional investors, wealth advisors, and general partners. The company is headquartered in Dallas, Texas, and its shares are listed on the NASDAQ.

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