Great Elm Group reports Q2 net income $29.7M, sells DME for $80M, Forest for ~$45M

Great Elm Group, Inc.

2023-Q2 EPS reported $0.55 revenue$3,739,000

Revenue $1.9M (+84% YoY); net income $29.7M vs loss $4.2M; Adj. EBITDA ($1.2M) unchanged.
Sold DME business for $80M; net cash ~$26M plus 346,028 Quipt shares.
Sold 61% then 19% of Forest for aggregate ~$45M cash.
Pro forma cash ~$90M to deploy across alternative asset management platform.
Retained ~$154M NOL carryforwards, ~$131M expiring June 30, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.98

Great Elm Group, Inc. reported fiscal second quarter ended December 31, 2022 results: revenue $1.9 million, net income $29.7 million.

Period: fiscal second quarter ended December 31, 2022
Revenue: $1.9 million
Net income: $29.7 million
Result: reported results

Exact text from the filing

31, 2022, representing approximately 2% sequential growth from September 30, 2022 and up approximately 7% year-to-date. • GEG total revenue grew for the second quarter by 84% to $1.9 million, compared to $1.0 million for the same period in the prior year, primarily attributable to the acquisition of the management agreement for Monomoy Properties REIT, LLC and its

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Great Elm Group, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-23-002636

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