Great Elm (GEG) - 2025 Q2 - Quarterly Results

Financial Performance - Great Elm Group reported total revenue of $3.5 million for the fiscal second quarter 2025, a 24% increase from $2.8 million in the prior-year period[8] - Net income from continuing operations was $1.4 million, compared to a net loss of $0.2 million in the prior-year period[8] - Revenues for Q2 2024 reached $3,507,000, a 24.4% increase from $2,819,000 in Q2 2023[21] - Net income from continuing operations for Q2 2024 was $1,354,000 compared to a loss of $239,000 in Q2 2023[21] - For the six months ended December 31, 2024, revenues totaled $7,499,000, a 22.3% increase from $6,129,000 in the same period of 2023[21] - Operating loss for the six months ended December 31, 2024 was $3,973,000, slightly improved from a loss of $4,146,000 in the same period of 2023[21] - Basic net income attributable to shareholders per share for Q2 2024 was $0.04, compared to a loss of $0.01 in Q2 2023[21] Asset Management - Fee-paying assets under management (FPAUM) grew by 17% to approximately $538 million, while total assets under management (AUM) increased by 14% to approximately $751 million[5] - Great Elm Credit Income Fund achieved net inception-to-date returns of approximately 13.9% as of December 31, 2024[4] Equity and Shareholder Actions - Great Elm Capital Corp. raised $13.2 million of equity at net asset value (NAV) through the issuance of approximately 1.1 million shares[10] - Great Elm has repurchased approximately 4.1 million shares for $7.4 million at an average price of $1.83 per share[5] - Great Elm Capital Corp. increased its quarterly base distribution by 5.7% to $0.37 per share for the first quarter of 2025[10] Operational Metrics - Adjusted EBITDA for the second quarter was $1.0 million, up from $0.6 million in the prior-year period[8] - Adjusted EBITDA for Q2 2024 was $1,024,000, up from $644,000 in Q2 2023[22] - Total operating costs and expenses for Q2 2024 were $5,026,000, slightly down from $5,515,000 in Q2 2023[21] - Non-cash compensation for Q2 2024 was $755,000, down from $839,000 in Q2 2023[22] Cash and Growth Initiatives - Cash on the balance sheet as of December 31, 2024, was approximately $44 million to support growth initiatives[5]