Beneficient BENF Business Segments
| Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Business | ||||||
| Ben Custody | $2.94M-45.6% | $3.1M-42.6% | $4.2M-22.2% | $5.4M-2.4% | $5.41M-8.3% | |
| Ben Liquidity | $8.2M-27.4% | $8.5M-29.2% | $8.84M-18.5% | $8.48M-20.4% | $11.3M0.0% | |
| Trust Services And Administrative Revenues, Intersegment Eliminations by Business | ||||||
| Ben Custody | $2.76M-47.2% | $2.9M-44.2% | $4M-23.1% | $5.21M-3.2% | $5.22M-9.0% | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Total Assets by Business | ||||||
| Ben Custody | $29.7M+3.3% | $28.8M-2.0% | $28.71M-3.2% | $26.81M-14.3% | $28.76M-67.1% | |
| Ben Liquidity | $188.54M-28.0% | $224.45M-14.4% | $233.32M-9.6% | $244.93M-6.5% | $261.78M-13.1% | |
| Investment income (loss), net by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Operating Income (Loss) by Business | ||||||
| Ben Custody | $1.99M-43.3% | $2.29M-47.1% | $3.13M+143% | $4.17M+108% | $3.51M+101% | |
| Ben Liquidity | -$29.17M-922% | -$821K-128% | -$6.02M-1,070% | -$12.34M+58.1% | -$2.85M+99.5% | |
| Trust services and administration revenues (related party of $8, $8, $23 and $23, respectively) by Business | ||||||
| Ben Custody | $188K0.0% | $178K-4.8% | $188K-0.5% | $189K-1.6% | $188K+19.0% | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Interest Income by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $8.19M-27.5% | $8.5M-29.1% | $8.84M-18.6% | $8.46M-20.5% | $11.3M+0.2% | |
| Gain (loss) on financial instruments, net (related party of nil, $(8), $(5) and $(546), respectively) by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Goodwill and intangible assets, net by Business | ||||||
| Ben Custody | $7.47M0.0% | $7.47M0.0% | $7.47M-3.8% | $7.47M-31.5% | $7.47M-81.1% | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Interest and dividend income by Business | ||||||
| Ben Custody | $0— | —— | $0— | —— | $0— | |
| Ben Liquidity | $0— | —— | $2K— | —— | $0— | |
| Operating Expenses by Business | ||||||
| Ben Custody | $955K-49.8% | $789K-25.4% | $1.06M-74.2% | $1.23M-97.8% | $1.9M-99.3% | |
| Ben Liquidity | $37.36M+164% | $9.32M+2.7% | $14.85M+30.7% | $20.8M-48.1% | $14.15M-97.7% | |
| Other expenses (related party of $714, $723, $2,142 and $2,111, respectively) by Business | ||||||
| Ben Custody | $180K-4.8% | $181K-3.2% | $199K-7.0% | $214K-17.1% | $189K-37.2% | |
| Ben Liquidity | $221K-38.8% | $209K-48.0% | $239K-47.0% | $357K-12.5% | $361K-22.0% | |
| Other expenses by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Loans to Customer ExAlt Trusts, net by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $187.48M-28.1% | $223.13M-14.4% | $230.67M-9.8% | $244.07M-4.7% | $260.64M-10.4% | |
| Interest expense (related party of $4,016, $3,140, $10,473 and $9,330, respectively) by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $4.05M+27.7% | $3.17M+0.2% | $3.35M+8.6% | $2.99M+6.9% | $3.17M+4.0% | |
| Goodwill by Business | ||||||
| Ben Custody | $7.47M0.0% | $7.47M0.0% | $7.47M-3.8% | $7.47M-31.5% | $7.47M-81.1% | |
| Ben Insurance | $0— | $0— | $0— | $0— | $0-100% | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Ben Markets | $2.45M0.0% | $2.45M0.0% | $2.45M0.0% | $2.45M-9.8% | $2.45M-75.3% | |
| Other assets by Business | ||||||
| Ben Custody | $22.23M+4.4% | $21.33M-2.7% | $21.24M-2.9% | $19.34M-5.2% | $21.29M-55.3% | |
| Ben Liquidity | $1.06M-7.4% | $1.32M-18.1% | $2.65M+14.8% | $859K-85.2% | $1.14M-89.0% | |
| Financial Instruments, Owned, at Fair Value by Business | ||||||
| Ben Custody | $0— | $0— | $0— | $0— | $0— | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0— | |
| Loss on impairment of goodwill by Business | ||||||
| Ben Custody | $0— | $0-100% | $0-100% | —— | —— | |
| Ben Insurance | $0— | $0— | $0— | —— | $0-100% | |
| Ben Liquidity | $0— | $0— | $0— | $0— | $0-100% | |
| Ben Markets | $0— | $0— | $0-100% | —— | —— | |
| Employee compensation and benefits by Business | ||||||
| Ben Custody | $650K+121% | $499K-7.9% | $647K+81.7% | $405K-32.9% | $294K-50.0% | |
| Ben Liquidity | $464K+31.4% | $248K-31.3% | $384K-10.7% | $292K-70.5% | $353K-62.4% | |
| Professional services by Business | ||||||
| Ben Custody | $125K+56.3% | $109K+263% | $209K-47.2% | $145K-65.9% | $80K-53.8% | |
| Ben Liquidity | $258K+274% | $196K-50.4% | $614K+29.5% | $148K-75.6% | $69K-85.9% | |
| Accrual (release) of loss contingency related to arbitration award by Business | ||||||
| Ben Custody | $0— | $0— | $0— | —— | $0— | |
| Ben Liquidity | $0— | $0— | $0— | —— | $0— | |
| Provision for Credit Losses by Business | ||||||
| Ben Custody | $0-100% | $0— | $0— | $467K-98.2% | $1.34M— | |
| Ben Liquidity | $32.37M+217% | $5.5M+15.7% | $10.27M+48.2% | $17.02M-51.8% | $10.2M+26.3% | |
| Percent of Total by Geography | ||||||
| Africa | -0.1%— | —— | 0.1%-0.2pp | -0.1%— | —— | |
| South America | 6.6%— | 2.7%— | 27.9%+5.0pp | 2.5%+2.2pp | —— | |
| Alternative Investment by Geography | ||||||
| Africa | $73K-80.8% | $113K-83.4% | $128K-81.7% | $112K-87.7% | $380K-66.0% | |
| Asia | $30.8M-30.9% | $40.19M-13.3% | $39.64M-8.4% | $41.95M-15.1% | $44.57M-20.7% | |
| Europe | $7.45M-79.2% | $15.21M-57.0% | $16.71M-51.8% | $17.02M-52.6% | $35.73M+2.1% | |
| North America | $70.43M-53.7% | $91.09M-39.6% | $110.45M-26.8% | $135.07M-17.7% | $152.27M-8.7% | |
| South America | $64.48M-5.3% | $64.72M-5.1% | $64.66M-5.3% | $64.97M+49.2% | $68.1M+55.5% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Beneficient break its business down?
- Beneficient (BENF) reports total revenues by business across 2 parts — Ben Custody and Ben Liquidity. Each is extracted from the segment footnotes and tracked over time.
- Where does Beneficient's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Beneficient's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
