I'm a beard-haver, but I'm not sure exactly. It's not something I've ever paid attention to.
In general, a few drops will cling to the outside. More would soak its way through gradually, likely spreading out a bit as it works down.
But it also depends on how long the beard is, and what products you've used on it.
I think the biggest difference is that it's harder to wipe away--the moisture tends to soak in and your face feels wet for longer.
Hope that helps!