Great Elm Group Q2 revenue up 50% to $2.8M; net loss of $0.2M; AUM grows to $655M

Great Elm Group, Inc.

2024-Q2 EPS reported $0.08 revenue$6,129,000

Revenue $2.8M (+50% YoY); net loss from continuing ops ($0.2M) vs prior-year net income of $29.7M which included large investment gains.
Adjusted EBITDA $0.6M vs $0.1M prior-year; fee-paying AUM $461M (+5% YoY); total AUM $655M (+6% YoY).
GECC raised $24M equity via SPV supported by $6M GEG investment; GEG seeded new credit fund GECIF with $6M.
Board authorized $10M stock repurchase program; modest share repurchases to date.
Collected $0.7M incentive fees from GECC for third consecutive quarter.

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 0.95

Great Elm Group, Inc. reported fiscal second quarter ended December 31, 2023 results: net income 0.6 million.

Period: fiscal second quarter ended December 31, 2023
Net income: 0.6 million
Result: reported results

Exact text from the filing

GEG reported total revenue of $2.8 million, a 50% increase from $1.9 million in the prior-year three-month period. GEG recorded a net loss from continuing operations of ($0.2) million, compared to net income from continuing operations of $29.7 million in the prior-year three-month period.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Great Elm Group, Inc. reported fiscal second quarter ended December 31, 2023 results: net income 0.6 million.

Period: fiscal second quarter ended December 31, 2023
Net income: 0.6 million
Result: reported results

Exact text from the filing

Total revenue for the second quarter grew 50% to $2.8 million, compared to $1.9 million for the prior-year period.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Great Elm Group, Inc. reported fiscal second quarter ended December 31, 2023 results: net income 0.6 million.

Period: fiscal second quarter ended December 31, 2023
Net income: 0.6 million
Result: reported results

Exact text from the filing

Net loss from continuing operations attributable to GEG was ($0.2) million for the second quarter, compared to net income from continuing operations of $29.7 million in the prior-year period.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Great Elm Group, Inc. reported fiscal second quarter ended December 31, 2023 results: net income 0.6 million.

Period: fiscal second quarter ended December 31, 2023
Net income: 0.6 million
Result: reported results

Exact text from the filing

Adjusted EBITDA for the second quarter was $0.6 million, compared to $0.1 million for the prior-year period.

View on SEC.gov

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Source: SEC EDGAR

accession 0000950170-24-014661

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