What is Beneficient's deferred upfront fees?

Beneficient (BENF) reported deferred upfront fees of $2.24M in Q1 2025.

What does deferred upfront fees mean?

This represents fees collected in advance from clients that are deferred and recognized as revenue over the service period. It reflects the company's ability to secure upfront compensation for its liquidity solutions and represents a future revenue obligation. A growing balance indicates strong demand for services and a stable pipeline of future recognized revenue.

Beneficient BENF Deferred upfront fees

Deferred upfront fees at other companies

SabreSABR

-$6.73M+3.1%

Stitch FixSFIX

$4.93M-5.2%

TPG Inc.TPG

$48.8M+81.7%

Elevance HealthELV

$266M+102%

Yum China HoldingsYUMC

$56M+30.2%

PaylocityPCTY

$5.92M+74.3%

Other financials

Income statement

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Revenue$18.7M+322%

Operating income$3.9M+141%

Net income$19.9M+331%

EPS (diluted)-$0.49+26.5%

Balance sheet

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Cash & equivalents$7.9M+87.3%

Total debt$100.3M-16.6%

Total equity-$128.6M-1,002%

Total assets$337.9M-15.5%

Cash flow

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Operating cash flow-$9.4M+6.3%

CapEx$96.0K-85.5%

Free cash flow-$9.4M+6.7%

Valuation

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Market cap$52.86M+2,018%

Enterprise value$145.33M+40.6%

Profitability

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Operating margin548.5%-323pp

Net margin517.9%-235pp

FCF margin156.8%-40.4pp

Returns & leverage

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Return on equity-1,647.1%-2,080pp

Debt / equity8.4×-23.8×

Where this comes from

Reported directly by Beneficient in its filing.

Tagged under the XBRL concept ben:DeferredUpfrontFees.

The official record: Beneficient’s 10-K, filed September 29, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is Beneficient's deferred upfront fees?: Beneficient (BENF) reported deferred upfront fees of $2.24M in Q1 2025.
What does deferred upfront fees mean?: This represents fees collected in advance from clients that are deferred and recognized as revenue over the service period. It reflects the company's ability to secure upfront compensation for its liquidity solutions and represents a future revenue obligation. A growing balance indicates strong demand for services and a stable pipeline of future recognized revenue.