---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-048990"
form_type: "8-K"
ticker: "GEG"
cik: "0001831096"
company_name: "Great Elm Group, Inc."
filed_at: "2023-09-20T23:59:59+00:00"
generated_at: "2026-06-10T12:23:44.503328+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Great Elm Group reports Q4 revenue up 96% YoY to $3.0M; first incentive fees from GECC

## Summary
- Q4 revenue $3.0M (+96% YoY); net loss from continuing ops ($5.3M); adjusted EBITDA $0.4M.
- Full-year revenue $8.7M (+92% YoY); net income from continuing ops $14.5M vs loss ($19.3M) prior year.
- Fee-paying AUM $448.7M (+10% YoY); total AUM $639.8M (+5% YoY). First-ever incentive fees from GECC: $1.0M.
- Balance sheet ~$85M cash and Treasuries; sold DME business for $80M netting ~$26M cash plus Quipt shares.
- Leadership: Jason Reese appointed CEO, Keri Davis CFO, Nichole Milz COO during fiscal 2023.

## SEC filing metadata
- accession: 0000950170-23-048990
- form_type: 8-K
- ticker: GEG
- cik: 0001831096
- company_name: Great Elm Group, Inc.
- filed_at: 2023-09-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1831096/000095017023048990/0000950170-23-048990-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1831096/000095017023048990/geg-20230920.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-048990
- JSON: https://secwatch.observer/filing/0000950170-23-048990.json
- Plain text: https://secwatch.observer/filing/0000950170-23-048990.txt

## Key facts
- Earnings Releases
  Great Elm Group, Inc. reported fiscal fourth quarter ended June 30, 2023 results: revenue $3.0 million, net income ($5.3) million.
  - Period: fiscal fourth quarter ended June 30, 2023
  - Revenue: $3.0 million
  - Net income: ($5.3) million
  - Result: reported results
  source text: Total revenue for the fourth quarter grew 96% to $3.0 million, compared to $1.5 million for the prior-year period
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017023048990/0000950170-23-048990-index.htm
- Earnings Releases
  Great Elm Group, Inc. reported fiscal year ended June 30, 2023 results: revenue $8.7 million, net income $14.5 million.
  - Period: fiscal year ended June 30, 2023
  - Revenue: $8.7 million
  - Net income: $14.5 million
  - Result: reported results
  source text: Total revenue for the fiscal year ended June 30, 2023 grew 92% to $8.7 million, compared to $4.5 million for fiscal 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017023048990/0000950170-23-048990-index.htm
- Governance Changes
  Great Elm Group, Inc.: Adopted amended SOX Code of Business Conduct and Ethics (effective 2023-09-20).
  - Change: code of ethics
  - Effective: 2023-09-20
  source text: On September 20, 2023, the Company adopted an amended SOX Code of Business Conduct and Ethics (the "Code") that was approved by the board of directors of the Company on September 20, 2023, and which applies to all directors, officers and employees of the Company and its subsidiaries and controlled affiliates.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1831096/000095017023048990/0000950170-23-048990-index.htm

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