# Beneficient: overview

BENF · Nasdaq · CIK 1775734 · [Financials](/sectors/financials.md) · fiscal year ends Mar 31

Pages: [Overview](/companies/benf.md) · [Financials](/companies/benf/financials.md) · [Filings](/companies/benf/filings.md) · [Insiders](/companies/benf/insiders.md)

Latest reported revenue: [$12.2m](/filings/0001775734-26-000030.md) for Q1 FY2027, three months to 2026-06-30, from the 10-Q filed Aug 14, 2026 (XBRL us-gaap:Revenues, accession 0001775734-26-000030).

## Last eight quarters

| Line item | Unit | Q2 FY2025 (2024-09-30) | Q3 FY2025 (2024-12-31) | Q4 FY2025 (2025-03-31) | Q1 FY2026 (2025-06-30) | Q2 FY2026 (2025-09-30) | Q3 FY2026 (2025-12-31) | Q4 FY2026 (2026-03-31) | Q1 FY2027 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [8.6](/filings/0001775734-25-000049.md) | [4.4](/filings/0001775734-26-000012.md) | [(31.0) d](/filings/0001775734-26-000018.md) | [(12.6)](/filings/0001775734-26-000030.md) | [(2.8)](/filings/0001775734-25-000049.md) | [18.7](/filings/0001775734-26-000012.md) | [(42.4) d](/filings/0001775734-26-000018.md) | [12.2](/filings/0001775734-26-000030.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(160.2%)](/filings/0001775734-25-000049.md) | [(215.3%)](/filings/0001775734-26-000012.md) | [146.3% d](/filings/0001775734-26-000018.md) | [734.0%](/filings/0001775734-26-000030.md) | [646.5%](/filings/0001775734-25-000049.md) | [21.1%](/filings/0001775734-26-000012.md) | [141.3% d](/filings/0001775734-26-000018.md) | [(3.1%)](/filings/0001775734-26-000030.md) |
| Net margin | % | [113.9%](/filings/0001775734-25-000049.md) | [(195.5%)](/filings/0001775734-26-000012.md) | [2.5% d](/filings/0001775734-26-000018.md) | [515.5%](/filings/0001775734-26-000030.md) | [648.1%](/filings/0001775734-25-000049.md) | [106.7%](/filings/0001775734-26-000012.md) | [91.1% d](/filings/0001775734-26-000018.md) | [(55.8%)](/filings/0001775734-26-000030.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | [(8.9) d](/filings/0001775734-25-000049.md) | [(10.0) d](/filings/0001775734-26-000012.md) | [(8.6) d](/filings/0001775734-26-000018.md) | [(10.9)](/filings/0001775734-26-000030.md) | [(14.5) d](/filings/0001775734-25-000049.md) | [(9.4) d](/filings/0001775734-26-000012.md) | [(4.0) d](/filings/0001775734-26-000018.md) | [(4.1)](/filings/0001775734-26-000030.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:ProfitLoss; Revenue: us-gaap:Revenues; Net income: us-gaap:NetIncomeLoss. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY (2021-12-31) | FY2023 (2023-03-31) | FY2024 (2024-03-31) | FY2025 (2025-03-31) | FY2026 (2026-03-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [55.3](/filings/0001775734-23-000008.md) | [(105)](/filings/0001775734-24-000029.md) | [(98.7)](/filings/0001775734-25-000022.md) | [(7.9)](/filings/0001775734-26-000018.md) | [(39.1)](/filings/0001775734-26-000018.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(128.6%)](/filings/0001775734-23-000008.md) | [241.3%](/filings/0001775734-24-000029.md) | [2683.5%](/filings/0001775734-25-000022.md) | [304.5%](/filings/0001775734-26-000018.md) | [425.6%](/filings/0001775734-26-000018.md) |
| Net margin | % | [(113.9%)](/filings/0001775734-23-000008.md) | [124.9%](/filings/0001775734-24-000029.md) | [2123.3%](/filings/0001775734-24-000029.md) | [(644.1%)](/filings/0001775734-26-000018.md) | [223.5%](/filings/0001775734-26-000018.md) |
| Diluted EPS | $ per share | [(1.84)](/filings/0001775734-23-000008.md) | [(1.94)](/filings/0001775734-23-000008.md) | not reported | not reported | not reported |
| Free cash flow | $m | [(61.2)](/filings/0001775734-23-000008.md) | [(97.2)](/filings/0001775734-24-000029.md) | [(60.0)](/filings/0001775734-25-000022.md) | [(38.8)](/filings/0001775734-26-000018.md) | [(38.8)](/filings/0001775734-26-000018.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/benf/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [Yorkville Advisors Global, LP](/funds/1838613.md) | 2026-06-30 | $1.0m | 280,631 |  | New +280,631 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $569.4k | 154,649 |  | Reduced −3,378 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $564.8k | 153,491 |  | Added +3,491 |
| [VANGUARD FIDUCIARY TRUST CO](/funds/933478.md) | 2026-06-30 | $265.2k | 72,070 |  | Added +559 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $244.2k | 66,345 |  | Added +14,500 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $182.3k | 49,528 |  | Added +4,205 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $166.0k | 45,122 |  | Added +21,084 |
| [NORTHERN TRUST CORP](/funds/73124.md) | 2026-06-30 | $115.6k | 31,411 |  | Unchanged |
| [Ausdal Financial Partners, Inc.](/funds/1667146.md) | 2026-06-30 | $50.8k | 13,817 |  | Added +2,000 |
| [Vanguard Global Advisers, LLC](/funds/1811242.md) | 2026-06-30 | $32.2k | 8,750 |  | Unchanged |

## Recent filings

[All 493 filings](/companies/benf/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-28 | 07:45 ET | [8-K](/filings/0001493152-26-048820.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001493152-26-048820 |
| 2026-10-19 | 06:03 ET | [DEF 14A](/filings/0001493152-26-047483.md) | Proxy statement, period 2026-10-19 | 0001493152-26-047483 |
| 2026-10-14 | 16:05 ET | [8-K](/filings/0001493152-26-047018.md) | 1.01 Entry into a material agreement; 9.01 Financial statements and exhibits | 0001493152-26-047018 |
| 2026-09-23 | 07:35 ET | [8-K](/filings/0001493152-26-043806.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001493152-26-043806 |
| 2026-09-18 | 07:45 ET | [8-K](/filings/0001493152-26-043234.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001493152-26-043234 |
| 2026-09-16 | 06:03 ET | [8-K](/filings/0001493152-26-042821.md) | 3.02 Unregistered sale of equity | 0001493152-26-042821 |
| 2026-08-14 | 16:15 ET | [10-Q](/filings/0001775734-26-000030.md) | Quarterly report, period 2026-06-30 | 0001775734-26-000030 |
| 2026-08-14 | 07:31 ET | [8-K](/filings/0001775734-26-000026.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001775734-26-000026 |
| 2026-08-11 | 16:15 ET | [8-K](/filings/0001493152-26-037138.md) | 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001493152-26-037138 |
| 2026-07-29 | 17:04 ET | [S-1](/filings/0001493152-26-035225.md) | Registration statement | 0001493152-26-035225 |

## Latest annual report

[Form 10-K for the fiscal year ended Mar 31, 2026](/filings/0001775734-26-000018.md), filed Jun 30, 2026.

## Forecast league

Q2 FY2027, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/a02d0d6d-906a-4fd7-bae1-fffff2529148)

## About the filer

- CIK: 1775734
- Tickers: BENF, BENFW
- Exchange: Nasdaq
- SIC code: 6199 Finance Services
- State of incorporation: NV
- Filer category: <br>Emerging growth company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 16:18 ET. No prices; not investment advice.