Great Elm Group Inc. (GEG) Financial Statements (2024 and earlier)

Company Profile

Business Address 3801 PGA BOULEVARD
PALM BEACH GARDENS, FL 33410
State of Incorp. DE
Fiscal Year End June 30
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
MRQ
6/30/2023
6/30/2022
6/30/2021
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments39,06860,16523,59524,382
Cash and cash equivalents39,06860,16523,59524,382
Receivables  3,3088,7128,483
Inventory, net of allowances, customer advances and progress billings   8981,066
Inventory   8981,066
Other undisclosed current assets95,21659,66551,23554,603
Total current assets:134,284123,13884,44088,534
Noncurrent Assets
Operating lease, right-of-use asset3224973,7225,241
Property, plant and equipment   538981
Intangible assets, net (including goodwill)11,56312,11571,63459,464
Goodwill   52,46350,536
Intangible assets, net (excluding goodwill)11,56312,11519,1718,928
Other noncurrent assets54143249258
Other undisclosed noncurrent assets   7,5047,391
Total noncurrent assets:11,93912,75583,64773,335
TOTAL ASSETS:146,223135,893168,087161,869
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities  3,9076,0385,521
Accounts payable  1916,0385,521
Accrued liabilities  3,716  
Deferred revenue   1,2184,438
Restructuring reserve  208  
Business combination, contingent consideration, liability962 1,767271
Due to related parties1,409486 
Other undisclosed current liabilities5,9221,85310,18522,775
Total current liabilities:6,8847,37719,69433,005
Noncurrent Liabilities
Long-term debt and lease obligation64,08362,93763,09425,650
Long-term debt, excluding current maturities64,08362,93760,71922,054
Liabilities, other than long-term debt6491,7378,2981,070
Due to related parties9267,390 
Other liabilities6116699081,070
Operating lease, liability381422,3753,596
Other undisclosed noncurrent liabilities   34,74735,596
Total noncurrent liabilities:64,73264,674106,13962,316
Total liabilities:71,61672,051125,83395,321
Temporary equity, carrying amount   2,2252,639
Equity
Equity, attributable to parent67,59663,84233,49654,360
Common stock30302926
Additional paid in capital3,316,7083,315,3783,312,7633,319,767
Accumulated deficit(3,249,142)(3,251,566)(3,279,296)(3,265,433)
Equity, attributable to noncontrolling interest7,011 6,5339,549
Total equity:74,60763,84240,02963,909
TOTAL LIABILITIES AND EQUITY:146,223135,893168,087161,869

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
Revenues11,0538,66367,97460,853
Operating lease, lease income   21,738 
Realized investment gains (losses)(447)4,299 (137)
Cost of revenue (46)(29,614)(26,481)
Gross profit:11,0538,61738,36034,372
Operating expenses(21,666)(19,828)(42,467)(38,109)
Operating loss:(10,613)(11,211)(4,107)(3,737)
Nonoperating income (expense)7,35516,733(10,909)(3,778)
Investment income, nonoperating7,35516,733  
Other nonoperating income (expense)   (5,123)1,842
Interest and debt expense(4,268)(6,074)(190)(1,866)
Loss from continuing operations before equity method investments, income taxes:(7,526)(552)(15,206)(9,381)
Other undisclosed income from continuing operations before income taxes4,53215,2311901,866
Income (loss) from continuing operations before income taxes:(2,994)14,679(15,016)(7,515)
Income tax expense(198)(200)(21)(1,813)
Income (loss) from continuing operations:(3,192)14,479(15,037)(9,328)
Loss before gain (loss) on sale of properties:(15,037)(8,679)
Income from discontinued operations12,21813,201 649
Net income (loss):9,02627,680(15,037)(8,679)
Net income attributable to noncontrolling interest  50144595
Other undisclosed net loss attributable to parent(111)   
Net income (loss) available to common stockholders, basic:8,91527,730(14,893)(8,084)
Interest on convertible debt9951,943  
Net income (loss) available to common stockholders, diluted:9,91029,673(14,893)(8,084)

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
TTM
6/30/2023
6/30/2022
6/30/2021
Net income (loss):9,02627,680(15,037)(8,679)
Comprehensive income (loss):9,02627,680(15,037)(8,679)
Comprehensive income, net of tax, attributable to noncontrolling interest  50144595
Comprehensive income (loss), net of tax, attributable to parent:9,02627,730(14,893)(8,084)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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