Beneficient cash flow statement

In fiscal 2026, Beneficient's operations generated −$38.7m of cash; it spent $96,000 on capital projects, leaving free cash flow of −$38.8m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Beneficient: cash flow statement, annual
Fiscal year	2021Dec 2020	2022Dec 2021	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026	LTMJun 2026
Cash from operations	−54	−57	−95	−58	−38	−39	−32
Depreciation and amortisation	1	2	4	4	2	1	1
Stock-based pay	108	23	10	39	6	2	1
Capital spending	3	4	2	2	1	0	0
Free cash flow	−57	−61	−97	−60	−39	−39	−32
Free cash flow after stock pay	−165	−84	−107	−99	−44	−40	−33
Shares issued	—	—	0	1	8	1	1

US$ millions unless shown otherwise. Fiscal quarters.

Beneficient: cash flow statement, quarterly
Quarter	2025 Q2Sept 2024	2025 Q3Dec 2024	2025 Q4Mar 2025	2026 Q1Jun 2025	2026 Q2Sept 2025	2026 Q3Dec 2025	2026 Q4Mar 2026	2027 Q1Jun 2026
Cash from operations	−9	−10	−8	−11	−15	−9	−4	−4
Depreciation and amortisation	0	0	0	0	0	0	0	0
Stock-based pay	3	1	0	0	0	0	0	0
Capital spending	0	0	0	0	0	0	0	0
Free cash flow	−9	−10	−9	−11	−15	−9	−4	−4
Free cash flow after stock pay	−12	−11	−9	−11	−15	−10	−4	−4
Shares issued	0	5	0	0	0	0	0	0

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Beneficient's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Beneficient.