---
schema_version: "secwatch.filing_event.v1"
accession: "0001775734-25-000040"
form_type: "8-K"
ticker: "BENF"
cik: "0001775734"
company_name: "Beneficient"
filed_at: "2025-10-20T23:59:59+00:00"
generated_at: "2026-05-17T03:16:09.334229+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Beneficient Q1 fiscal 2026 GAAP operating loss of $92.6M; revenue negative $12.6M

## Summary
- GAAP revenue negative $12.6M (prior year $10.0M); GAAP operating loss $92.6M vs income $44.3M YoY.
- EPS (Class A) basic and diluted -$7.19; prior year $12.11 basic, $0.17 diluted.
- Operating expenses $80.0M include $62.8M loss contingency accrual; adjusted expenses $17.2M.
- Three primary capital transactions added $11.7M (fair value); asset sales generated $38.1M gross proceeds.
- Board Chairman and interim CEO converted $52.6M of BCH Preferred Series A-1 into Class A common stock.

## SEC filing metadata
- accession: 0001775734-25-000040
- form_type: 8-K
- ticker: BENF
- cik: 0001775734
- company_name: Beneficient
- filed_at: 2025-10-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1775734/000177573425000040/0001775734-25-000040-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1775734/000177573425000040/ben-20251020.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001775734-25-000040
- JSON: https://secwatch.observer/filing/0001775734-25-000040.json
- Plain text: https://secwatch.observer/filing/0001775734-25-000040.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.