Great Elm (US:GEG)2025-11-12 21:17Financial Performance - Total revenue for the first quarter was $10.8 million, a significant increase from $4.0 million in the prior-year period, primarily due to a $7.4 million gain from the sale of a property[8] - Revenues for the three months ended September 30, 2025, increased to $10,788,000, compared to $3,992,000 for the same period in 2024, representing a growth of 170%[23] - The net loss for the first quarter was $(7.9) million, compared to net income of $3.0 million in the prior-year period, largely due to unrealized losses on investments[8] - Net loss attributable to Great Elm Group, Inc. stockholders was $7,030,000 for the three months ended September 30, 2025, compared to a net income of $2,639,000 in 2024[23] - Adjusted EBITDA for the first quarter was $(0.5) million, down from $1.3 million in the prior-year period[8] - Adjusted EBITDA for the three months ended September 30, 2025, was $(463,000), a significant decline from $1,330,000 in 2024[24] - Operating loss for the same period was $3,726,000, compared to an operating loss of $1,996,000 in 2024, indicating a deterioration in operational performance[23] Assets and Liabilities - Total assets as of September 30, 2025, were $155,010,000, an increase from $153,937,000 as of June 30, 2025[22] - Total liabilities decreased to $71,867,000 as of September 30, 2025, from $73,271,000 as of June 30, 2025[22] - Cash and cash equivalents increased to $53,470,000 as of September 30, 2025, compared to $30,603,000 as of June 30, 2025, reflecting improved liquidity[22] - Current liabilities decreased to $8,370,000 as of September 30, 2025, from $9,614,000 as of June 30, 2025, indicating better short-term financial health[22] Growth and Investments - Great Elm Group raised nearly $250 million in capital during the quarter, enhancing its growth potential[2] - As of September 30, 2025, fee-paying AUM and total AUM reached approximately $594 million and $785 million, reflecting year-over-year growth of 9% and 6% respectively[8] - Pro forma fee-paying AUM and total AUM totaled approximately $601 million and $792 million, with growth rates of 10% and 7% year-over-year[8] - Great Elm's private credit strategy achieved a strong net return of approximately 15.2% year-to-date through September 30, 2025[8] - Great Elm's strategic partnership with Kennedy Lewis Investment Management includes a $150 million capital commitment to support real estate platform growth[9] Stock and Shareholder Actions - The company authorized an additional $5 million for stock repurchases, increasing the total program to $25 million, with approximately $14.1 million remaining[8] - The weighted average shares outstanding for basic calculations were 28,972,000 for the three months ended September 30, 2025, compared to 29,079,000 in 2024[23] Property Transactions - The second Monomoy build-to-suit property was sold for $7.4 million, generating a gain of $0.5 million[8] - The company reported a net realized and unrealized loss of $2,861,000 for the three months ended September 30, 2025, compared to a gain of $3,778,000 in 2024[23]