Great Elm (US:GEG)2025-05-08 13:32Financial Data and Key Metrics Changes - Total revenue for the fiscal third quarter of 2025 was $3.2 million, reflecting a 15% year-over-year growth [6][17] - Fee-paying assets under management (AUM) increased by 15% year-over-year, reaching approximately $565 million [7][17] - The company reported a net loss of $4.5 million for the quarter, compared to a net loss of $2.9 million in the prior year period [17] Business Line Data and Key Metrics Changes - The company launched Monomoy Construction Services through the acquisition of Greenfield CRE, enhancing its real estate capabilities [6][11] - Base management fees from Great Elm Capital Corp (GECC) grew over 40% year-over-year to $1.3 million [9] - Great Elm Credit Income Fund delivered returns on invested capital of approximately 13.9% net of fees since inception [10] Market Data and Key Metrics Changes - GECC raised approximately $147 million through equity and debt issuances in calendar year 2024, contributing to the growth in fee-paying AUM [7] - GECC generated record total investment income of $12.5 million, marking the highest cash income quarter in the company's history [8] Company Strategy and Development Direction - The company is focused on expanding its core credit and real estate platforms as part of its long-term growth strategy [6] - The acquisition of Greenfield CRE is expected to create revenue and operational synergies, enhancing the overall real estate value proposition [11][15] - The company aims to evaluate strategic opportunities to expand its businesses and add differentiated product offerings with attractive risk-adjusted return profiles [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the recovery of unrealized losses related to investments as market conditions stabilize [13][18] - The company remains committed to executing development projects to drive profitability and deliver value for both tenants and shareholders [10][15] Other Important Information - The company has approximately $32 million in cash available to facilitate continued growth across its asset management platforms [7][18] - Share repurchase program executed with approximately 4.8 million shares repurchased for $8.7 million at an average cost of $1.84 per share, representing a 15% discount to the quarter-end book value per share of $2.14 [12][13] Q&A Session Summary - There were no questions during the Q&A session, and the call concluded with closing comments from the CEO [19][20]