Great Elm Group Inc Stock Price, News & Analysis

Great Elm Group, Inc. (NASDAQ: GEG) has launched an underwritten public offering of unsecured notes due 2027, expected to trade under the symbol “GEGGL.” The interest rate and additional terms will be determined through negotiations with underwriters. Proceeds from the offering will be utilized for investments in Monomoy Properties REIT, LLC and for general corporate purposes, including refinancing subsidiary debts. The joint book-running managers for this offering include Oppenheimer & Co. Inc. and B. Riley Securities, among others.

Great Elm Group, Inc. (NASDAQ: GEG) announced the appointment of David Matter as a new Director, following the resignation of Peter Reed from the Board of Directors. Matter brings extensive experience in investment management, having served as Managing Director at BlackRock. Executive Chairman Jason Reese emphasized that Matter's expertise will be vital as GEG focuses on growing its assets under management. Reed will continue to serve as CEO, ensuring leadership continuity.

Great Elm Group (GEG), a diversified holding company, reported fiscal Q3 2022 results showing consolidated revenue of $16.6 million, up from $13.8 million year-over-year. However, net loss from continuing operations widened to $6.1 million from $2.8 million. The company's investment management segment saw revenue increase by 35.7% to $1.0 million, but net loss expanded to $4.0 million. Durable Medical Equipment (DME) revenue rose 19.2% to $15.6 million amidst ongoing supply chain challenges, yet net loss increased to $6.6 million. The company aims to grow through acquisitions, including $10 million for Monomoy REIT management agreements.

Great Elm Group (GEG) announced a strategic acquisition that enhances its investment management segment, acquiring the management agreement for Monomoy Properties REIT for $10 million. The deal, approved by disinterested directors, includes a $15 million initial investment and an intention to invest an additional $15 million over the next year. This acquisition more than doubles GEG's assets under management (AUM) to over $572 million, leveraging GEG's tax attributes for growth. The transaction is seen as transformative, aligning with GEG's strategy to generate attractive long-duration capital returns.

Great Elm Group reported fiscal Q2 2022 results, showing consolidated revenue of $16.7 million, up from $15.3 million year-over-year. However, net loss from continuing operations widened to $4.2 million compared to a loss of $0.9 million in the prior year. The Durable Medical Equipment (DME) segment grew revenue 8.1% to $15.7 million, achieving net income of $0.9 million. Investment Management (IM) revenue increased 34.3% to $1.0 million, but net loss reached $2.6 million.

Great Elm Group, Inc. (NASDAQ: GEG) will release its fiscal 2022 second quarter results on February 11, 2022, before the market opens. The company will also host a conference call and webcast on the same day at 9:00 a.m. ET to discuss these financial results. Interested parties can participate by calling specified numbers and entering Conference ID 2595129. The presentation slides will be available on the company’s website, allowing investors to follow along during the call.

Great Elm Group (GEG) reported its fiscal Q1 2022 results, achieving consolidated revenue of $16.5 million, up from $15.4 million year-over-year. The company posted a net income from continuing operations of $0.1 million, reversing a net loss of $3.8 million a year ago. Adjusted EBITDA increased to $4.3 million from $1.9 million. The Durable Medical Equipment segment saw a revenue rise of 6.5% to $15.6 million, driven by resupply sales and acquisitions. Notably, GEG holds approximately $952 million in net operating loss carryforwards.

Great Elm Group, Inc. (NASDAQ: GEG) will announce its fiscal 2022 first quarter results for the period ending September 30, 2021, on November 12, 2021, before market opening. A conference call and webcast will be held at 9:00 a.m. ET the same day to discuss these financial results. Interested participants can join by calling +1 (844) 559-0750 for domestic calls or +1 (647) 689-5386 for international calls, using Conference ID 6687507. Additional resources will be available on their website.

Great Elm Group, Inc. (NASDAQ: GEG) has announced its Annual Stockholders’ Meeting, scheduled for November 17, 2021. The proxy statement detailing the meeting will be available by the first week of October for stockholders of record as of September 30, 2021. This meeting is part of the company's ongoing efforts to engage with its investors and discuss future business strategies.

Great Elm Group operates in two primary areas: investment management and operating companies.