Great Elm (US:GEG) Globenewswire·2025-05-07 20:15Core Viewpoint - Great Elm Group, Inc. reported solid financial results for its fiscal third quarter ended March 31, 2025, with significant growth in assets under management and revenue, despite a net loss driven by unrealized investment losses [4][6][9]. Financial Performance - Fee-paying assets under management (FPAUM) grew by 15% to approximately $565 million, while total assets under management (AUM) increased by 12% to approximately $768 million compared to the prior-year period [3][6]. - Total revenue for the third quarter was $3.2 million, reflecting a 15% increase from $2.8 million in the prior-year period, primarily due to higher revenue from real estate project management fees and increased management fees from Great Elm Capital Corp. (GECC) [6][8]. - The net loss from continuing operations for the quarter was ($4.5) million, compared to a net loss of ($2.9) million in the prior-year period, mainly due to unrealized losses on certain investment positions [9][21]. - Adjusted EBITDA for the third quarter was $0.5 million, down from $1.2 million in the prior-year period [9][24]. Strategic Developments - The company launched Monomoy Construction Services in February 2025 through the acquisition of Greenfield CRE, enhancing its real estate platform with specialized construction capabilities [4][10]. - Great Elm continued its share repurchase program, having repurchased approximately 4.8 million shares for $8.7 million at an average cost of $1.84 per share [6][11]. - GECC achieved record total investment income of $12.5 million for the first calendar quarter of 2025, driven by cash flows from its CLO joint venture and new investments [7][13]. Future Outlook - The company remains focused on growing its core businesses and pursuing investment opportunities to maximize long-term shareholder value [4][6]. - GECC launched a $100 million At-the-Market equity program to provide additional capital flexibility [6][13].