Research Coverage on Small and Micro-Cap Companies, Zacks Small Cap Research

Zacks Small Cap Research

Research Coverage on Small and Micro-Cap Companies

Zacks Small Cap Research provides research coverage on small- and micro-cap companies that are “under-followed” or “under-valued” by Wall Street. We produce high quality equity research for the institutional and retail investor on microcap firms we believe are well positioned for future growth. The Zacks SCR analyst team has an average of 20 years of experience in investment research. We conduct significant due diligence in an effort to maintain the highest quality small-cap universe.

Equity Bottom-Up

<ul><li>Key F2Q25 takeaways include: 1) origination volumes seem set to ramp up reflecting rising demand for liquidity in light of ongoing growth in alternative assets under management and Beneficient's comprehensive go-to-market strategy spanning multiple clients, distribution channels, and approaches 2) the recently announced transaction reclassified $126 million of temporary equity to permanent equity, thereby meaningfully strengthening BENF's balance sheet and 3) GWG Wind Down Trust's BENF position down to 348,183 shares, thus enhancing supply/demand trading dynamics for the stock and removing a technical overhang.</li><li> In our minds, the stock's YTD underperformance provides investors with an attractive entry point for BENF as awareness and appreciation of the company's business model, growth prospects, unique positioning, and valuation disconnect increasingly take hold.</li></ul>

Key F2Q25 takeaways include: 1) origination volumes seem set to ramp up reflecting rising demand for liquidity in light of ongoing growth in alternative assets under management and Beneficient's comprehensive go-to-market strategy spanning multiple clients, distribution channels, and approaches 2) the recently announced transaction reclassified $126 million of temporary equity to permanent equity, thereby meaningfully strengthening BENF's balance sheet and 3) GWG Wind Down Trust's BENF position down to 348,183 shares, thus enhancing supply/demand trading dynamics for the stock and removing a technical overhang. In our minds, the stock's YTD underperformance provides investors with an attractive entry point for BENF as awareness and appreciation of the company's business model, growth prospects, unique positioning, and valuation disconnect increasingly take hold.

BENF: F2Q25 Earnings - Improving Financial Performance  Pivoting to Growth

<ul>
<li>Beneficient (Ben) is a FinTech company focused on the high-growth global alternative asset management industry.</li>
<li>The company provides early liquidity to medium-to-high net worth (MHNW) individuals and small-to-midsized institutions (STMIs) by leveraging a proprietary FinTech platform, as well as primary capital solutions to General Partners (GPs).</li>
<li>Ben's balance sheet has been built from loans collateralized by alterative assets diversified across asset classes, sectors, and geographies, with ~830 investments across 250+ funds.</li>
</ul>


Beneficient (Ben) is a FinTech company focused on the high-growth global alternative asset management industry.
The company provides early liquidity to medium-to-high net worth (MHNW) individuals and small-to-midsized institutions (STMIs) by leveraging a proprietary FinTech platform, as well as primary capital solutions to General Partners (GPs).
Ben's balance sheet has been built from loans collateralized by alterative assets diversified across asset classes, sectors, and geographies, with ~830 investments across 250+ funds.


BENF: Initiating Coverage of a Unique FinTech Platform Focused on Alternative Asset LPs/GPs

United States

Beneficient provides financial services. The Company provides liquidity products including loans, liquidity, estate, tax planning, administrative management and reporting, insurance, and risk management services. Beneficient serves customers worldwide.

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Beneficient (BENF US)

BENF: F2Q25 Earnings - Improving Financial Performance Pivoting to Growth

Key F2Q25 takeaways include: 1) origination volumes seem set to ramp up reflecting rising demand for liquidity in light of ongoing growth in...

Zacks Small Cap Research

BENF: Initiating Coverage of a Unique FinTech Platform Focused on Alternative Asset LPs/GPs

Ben's balance sheet has been built from loans collateralized by alterative assets diversified across asset classes, sectors, and geographies, with...

Zacks Small Cap Research

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