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BENFW

Beneficient

BENFW

Beneficient • NASDAQ
$0.01 ▼ -9.65% (-0.00)
Market Cap $1.64 M
52w High $0.01
52w Low $0.01
Dividend Yield 0%
P/E 0
Volume 8.99K
Outstanding Shares 159.43M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $8.561M ▼ $15.141M ▲ $12.914M ▼ 150.847% ▼ $2.96 ▲ $14.458M ▼
Q1-2025 $10.046M ▲ $-38.142M ▼ $47.667M ▲ 474.487% ▲ $0.17 ▲ $49.04M ▲
Q4-2024 $-43.104M ▼ $145.189M ▼ $-66.217M ▲ 153.621% ▼ $-19.59 ▲ $-190.129M ▲
Q3-2024 $-10.3M ▲ $898.311M ▲ $-542.166M ▼ 5.264K% ▲ $-158.26 ▼ $-919.014M ▼
Q2-2024 $-42.761M $323.605M $-371.735M 869.332% $-115.77 $-375.659M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $4.482M ▲ $368.788M ▲ $256.454M ▼ $-165.299M ▲
Q1-2025 $4.399M ▼ $361.304M ▼ $258.542M ▼ $-182.583M ▲
Q4-2024 $7.913M ▲ $368.501M ▼ $309.567M ▲ $-234.349M ▼
Q3-2024 $4.482M ▲ $368.788M ▲ $256.454M ▼ $-165.299M ▲
Q2-2024 $4.399M $361.304M $258.542M $-182.583M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $12.914M ▼ $-8.612M ▲ $4.772M ▼ $3.923M ▲ $83K ▲ $-8.881M ▲
Q1-2025 $44.31M ▲ $-10.647M ▼ $6.392M ▼ $991K ▲ $-3.264M ▲ $-11.311M ▼
Q4-2024 $-66.217M ▲ $-8.646M ▲ $7.32M ▼ $-1.965M ▼ $-3.291M ▼ $-9.075M ▲
Q3-2024 $-542.166M ▼ $-22.214M ▼ $10.997M ▼ $20.071M ▲ $8.854M ▲ $-22.589M ▼
Q2-2024 $-381.764M $-13.446M $14.514M $-2.532M $-1.464M $-13.878M

Five-Year Company Overview

Income Statement

Income Statement Beneficient looks more like an early‑stage fintech than a mature asset manager. Revenue is very small and inconsistent, while core costs remain much higher than what the business currently brings in. That leads to sizable operating and net losses year after year, and those losses appear to have widened most recently rather than narrowed. Profitability is still clearly a future goal, not a current reality.

Balance Sheet

Balance Sheet The balance sheet is thin and has weakened over time. Total assets have shrunk sharply since the company listed, and equity has moved from positive to meaningfully negative, reflecting accumulated losses. Debt now sits on top of this narrow base of assets, which limits financial flexibility and heightens sensitivity to any setback in cash generation or access to capital. Overall, the company appears financially fragile and reliant on external support while it scales.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, meaning the business is consuming cash rather than generating it. Free cash flow is also negative, and there is effectively no offset from major investment reductions because capital spending is already very low. This pattern suggests the company must keep finding outside funding or new capital arrangements to sustain operations and pursue growth. The path to self‑funded growth is not yet visible in the historical cash flow profile.

Competitive Edge

Competitive Edge Strategically, Beneficient operates in an interesting niche: providing liquidity and services around alternative assets for investors who are often overlooked by traditional secondary markets. Its specialized Kansas fiduciary charter, proprietary data platforms, and focus on acting as a principal rather than just a broker give it some differentiation and potential barriers to entry. At the same time, it is small and financially weak in a space where larger, well‑capitalized asset managers and fintechs are also competing, which could pressure margins and growth if they choose to target the same clients. Execution, partnerships, and brand trust will be critical to turning its theoretical moat into durable market share.

Innovation and R&D

Innovation and R&D The company is clearly innovation‑led, with multiple proprietary platforms and tools aimed at making alternative asset liquidity faster, more transparent, and more data‑driven. Systems like AltAccess, AltQuote, and its automated pricing and risk engines point to a heavy investment in software and analytics rather than brick‑and‑mortar infrastructure. Future plans, such as offering its platform as a white‑label software service and expanding GP‑focused solutions, could diversify revenue toward more recurring, fee‑based streams. The main risk is that realizing this innovation potential will require continued investment and time, while the current financial base is quite thin.

Summary

Beneficient combines an ambitious fintech vision with a currently very weak financial profile. On the positive side, it targets a real pain point in alternative assets, has built a proprietary technology stack, and holds a distinct regulatory charter that together could form a meaningful competitive edge if the model scales. On the negative side, revenue remains tiny, losses are substantial, equity is negative, and the business is burning cash, leaving little margin for strategic missteps. The company’s long‑term outcome will likely hinge on its ability to grow volumes, monetize its platforms through recurring fees, and repair its balance sheet before financial constraints limit its innovation plans.