Great Elm Group reports FY2022 revenue up 12% to $68M; net loss widens to $15M; AUM doubles to $607M

Great Elm Group, Inc.

Revenue $68.0M (+12% YoY); net loss $(15.0)M vs $(8.5)M; Adj EBITDA $9.3M vs $8.6M.
Acquired Monomoy REIT management agreement in May 2022; AUM grew from $294.7M to $607.0M.
DME revenue $63.5M (+10%); DME Adj EBITDA $13.8M (+11%) despite $2.3M less stimulus.
IM revenue $4.5M (+41%) but Adj EBITDA turned negative $(0.4)M; mark-to-market losses on GECC.
Issued $26.9M of 7.25% Notes due 2027; cash $23M; insider ownership ~40%; NOLs $821M.

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