Beneficient reports $916M GAAP operating loss in Q3 FY2024, driven by $883M goodwill impairment

Beneficient

• GAAP operating loss of $915.95M; adjusted operating loss of $11.68M, improved from $21.17M in prior quarter.
• Diluted EPS of ($1.98); adjusted revenue of $8.5M versus negative GAAP revenue of ($10.2M).
• Goodwill impairment of $883.2M; operating expenses excluding impairment reduced 33% YoY.
• GP Preferred Liquidity Provider Program grew to 19 funds with $1.5B committed capital, from 7 funds/$300M.
• Cash and equivalents $11.2M; total debt $128.2M; new $25M term loan secured.