earnings
confidence high
sentiment negative
materiality 0.80
Beneficient reports Q2 FY2024 GAAP operating loss of $381.8M; EPS $(1.45)
Beneficient
- Consolidated GAAP operating loss $381.8M vs loss $73.0M a year ago; diluted EPS $(1.45) vs $(0.03).
- Ben Liquidity segment operating loss $272.1M vs income $24.2M, driven by non-cash goodwill impairment and negative credit loss adjustments.
- Adjusted operating loss (non-GAAP) $21.2M vs $33.9M prior year, improving 37.6%.
- Cash and equivalents $2.4M; total debt $150.8M as of Sept 30, 2023.
- Ben Custody segment operating loss $80.8M vs income $6.3M, also due to goodwill impairment.