---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-025136"
form_type: "8-K"
ticker: "GEG"
cik: "0001831096"
company_name: "Great Elm Group, Inc."
filed_at: "2022-11-15T23:59:59+00:00"
generated_at: "2026-06-21T18:51:23.671016+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Great Elm Group Q1 FY2023: revenue $18.6M (+12%), net loss $8.5M; IM revenue up 89%

## Summary
- Consolidated revenue $18.6M (+12% YoY); net loss $8.5M vs income $0.1M; Adjusted EBITDA $2.7M vs $4.3M.
- Investment Management revenue $1.9M (+89% YoY), net loss $6.0M driven by $6.8M unrealized loss on GECC shares.
- DME revenue $16.7M (+7% YoY), net income $6.8M (incl. $7.0M derivative benefit); Adjusted EBITDA $3.4M.
- GECC launched Great Elm Healthcare Finance with Berkadia to provide secured lending to healthcare businesses.
- Board amended bylaws to add exclusive forum provision requiring derivative/Securities Act claims in Delaware courts.

## SEC filing metadata
- accession: 0000950170-22-025136
- form_type: 8-K
- ticker: GEG
- cik: 0001831096
- company_name: Great Elm Group, Inc.
- filed_at: 2022-11-15T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 3.03, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831096/000095017022025136/0000950170-22-025136-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831096/000095017022025136/geg-20221114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-025136
- JSON: https://secwatch.observer/filing/0000950170-22-025136.json
- Plain text: https://secwatch.observer/filing/0000950170-22-025136.txt

## Key facts
- Earnings Releases
  Great Elm Group, Inc. reported fiscal first quarter ended September 30, 2022 results: revenue Consolidated revenue for the first quarter was $18.6 million, net income On a consolidated basis, GEG recognized a net loss of $8.5 million for the first quarter.
  - Period: fiscal first quarter ended September 30, 2022
  - Revenue: Consolidated revenue for the first quarter was $18.6 million
  - Net income: On a consolidated basis, GEG recognized a net loss of $8.5 million for the first quarter
  - Result: reported results
  source text: • Consolidated revenue for the first quarter was $18.6 million, up 12% compared to $16.5 million in the prior-year period. • On a consolidated basis, GEG recognized a net loss of $8.5 million for the first quarter, compared to net income of $0.1 million for the same period in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017022025136/0000950170-22-025136-index.htm
- Governance Changes
  Great Elm Group, Inc.: Added an exclusive forum selection provision to the Amended and Restated Bylaws, designating Delaware courts for certain internal affairs claims and federal district courts for Securities Act claims (effective 2022-11-14).
  - Change: bylaw amendment
  - Effective: 2022-11-14
  source text: Effective November 14, 2022, the Board of Directors of the Company amended and restated the Company’s Bylaws (the “Amended and Restated Bylaws”), effective immediately, to add an exclusive forum selection provision so that, unless the Company consents in writing to the selection of an alternative forum, any (i) derivative action or proceeding brought on behalf of the Company, (ii) action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of the Company to the Company or the Company’s stockholders, (iii) action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law or the Company’s Certificate of Incorporation or the Amended and Restated Bylaws, or (iv) action asserting a claim governed by the internal affairs doctrine, be exclusively brought in the Court of Chancery in the State of Delaware or, if such court does not have subject matter jurisdiction thereof, the federal district court of the State of Dela
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017022025136/0000950170-22-025136-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.