Business
Beneficient is a technology-enabled financial-services company built around liquidity, primary-capital, trustee, custody, and trust-administration services for participants in the alternative-asset industry.
Beneficient fell back to a FY2026 loss while cash burn, negative equity, and going-concern risk remained central.
The read at a glance✓ Audited against SEC data
- Business — Alternative-asset liquidity and custodyNote
- Profitability — Net loss $87.4MWatch
- Cash — Free cash flow negative $38.8MWatch
- Equity — Equity negative $189.3MWatch
- Liquidity — Going-concern substantial doubtWatch
- Insiders — 0 purchases / 0 salesNote
Where the revenue comes from
Fiscal 2026, as Beneficient reports it. History and quarterly detail are in the app.
- Ben Liquidity$33.4M
- Ben Custody$12.7M
Leadership changes
From Beneficient's own filings, the day they're filed.
- Mack Hicks · director · appointmenteff. 2026-03-10
- Brad Heppner · Chief Executive Officer · departureeff. 2025-06-19
- Karen Wendel · director · appointmenteff. 2024-11-21
Latest filings
- 10-Q · Quarterly report2026-08-14
- 8-K · Company announcement2026-08-14
- 8-K · Company announcement2026-08-11
- 8-K · Company announcement2026-07-13
- 8-K · Company announcement2026-07-07
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Beneficient, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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