Beneficient
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-6.8M | $-24.4M | $19.9M | $-17.9M | $-65.1M | $5.7M | $-8.6M | $9.7M |
| Depreciation & Amortization | $125.0K | $220.0K | $141.0K | $143.0K | $242.0K | $443.0K | $447.0K | $391.0K |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $185.0K | $339.0K | $367.0K | $462.0K | $461.0K | $487.0K | $804.0K | $3.4M |
| Net Cash from Operating Activities | $-4.1M | $-4.0M | $-9.4M | $-14.5M | $-10.8M | $-8.4M | $-10.0M | $-8.6M |
| Investing Activities | ||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $96.0K | $124.0K | $42.0K | $269.0K |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $6.9M | $2.0M | $16.4M | $16.4M | $26.5M | $10.7M | $6.2M | $4.8M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $233.0K | $-3.3M | $-4.1M | $-4.6M | $-9.4M | $-5.1M | $3.2M | $3.9M |
| Net Change in Cash | $3.0M | $-5.3M | $3.0M | $-2.7M | $6.3M | $-2.9M | $-595.0K | $83.0K |
| Free Cash Flow | $-4.1M | $-4.0M | $-9.4M | $-14.5M | $-10.9M | $-8.6M | $-10.0M | $-8.9M |