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
Q3
12/31/2023
Q2
9/30/2023
Q1
6/30/2023
Q4
3/31/2023
Q3
12/31/2022
Q2
9/30/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments39,06841,07760,16584,11818,97123,265
Cash and cash equivalents39,06841,07760,16584,11818,97123,265
Receivables   3,3082,4212,3188,732
Inventory, net of allowances, customer advances and progress billings      1,017
Inventory      1,017
Disposal group, including discontinued operation     76,629 
Other undisclosed current assets95,21682,77259,66537,73358,25141,715
Total current assets:134,284123,849123,138124,272156,16974,729
Noncurrent Assets
Operating lease, right-of-use asset3224114975826643,815
Property, plant and equipment     46503
Intangible assets, net (including goodwill)11,56311,83912,11512,39112,66871,055
Goodwill      52,463
Intangible assets, net (excluding goodwill)11,56311,83912,11512,39112,66818,592
Other noncurrent assets54143143137143253
Other undisclosed noncurrent assets      7,923
Total noncurrent assets:11,93912,39312,75513,11013,52183,549
TOTAL ASSETS:146,223136,242135,893137,382169,690158,278
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities   3,907307806,340
Accounts payable   191307806,340
Accrued liabilities   3,716   
Deferred revenue      1,250
Restructuring reserve   208   
Disposal group, including discontinued operation     18,047 
Business combination, contingent consideration, liability962944 1,3001,1801,709
Due to related parties1,40985524,2495,734
Other undisclosed current liabilities5,9224,3361,8533,1698979,698
Total current liabilities:6,8845,2807,3775,63144,45324,731
Noncurrent Liabilities
Long-term debt and lease obligation64,08363,03662,93761,91361,81463,155
Long-term debt, excluding current maturities64,08363,03662,93761,91361,81460,813
Liabilities, other than long-term debt6496051,7371,3811,3242,027
Due to related parties9264454521,050
Other liabilities611555669691527977
Operating lease, liability38501422453452,342
Other undisclosed noncurrent liabilities      34,450
Total noncurrent liabilities:64,73263,64164,67463,29463,13899,632
Total liabilities:71,61668,92172,05168,925107,591124,363
Temporary equity, carrying amount     2,9772,887
Equity
Equity, attributable to parent67,59667,32163,84268,45756,14526,039
Common stock303030292929
Additional paid in capital3,316,7083,316,0833,315,3783,314,7373,314,1733,313,597
Accumulated deficit(3,249,142)(3,248,792)(3,251,566)(3,246,309)(3,258,057)(3,287,587)
Equity, attributable to noncontrolling interest7,011   2,9774,989
Total equity:74,60767,32163,84268,45759,12231,028
TOTAL LIABILITIES AND EQUITY:146,223136,242135,893137,382169,690158,278

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

3/31/2024
Q3
12/31/2023
Q2
9/30/2023
Q1
6/30/2023
Q4
3/31/2023
Q3
12/31/2022
Q2
9/30/2022
Q1
Revenues2,8193,3103,0261,8981,87918,579
Operating lease, lease income      5,691
Cost of revenue     (8,425)
Gross profit:2,8193,3103,0261,8981,87910,154
Operating expenses(5,515)(4,760)(6,624)(4,767)(4,667)(11,139)
Operating loss:(2,696)(1,450)(3,598)(2,869)(2,788)(985)
Nonoperating income (expense)2,0721,9861,7771,52011,963(7,358)
Investment income, nonoperating2,0721,9861,7771,52011,963 
Other nonoperating expense      (5,362)
Interest and debt expense(1,061)(1,062)(1,050)(1,095)(1,955)(23)
Income (loss) from continuing operations before equity method investments, income taxes:(1,685)(526)(2,871)(2,444)7,220(8,366)
Other undisclosed income (loss) from continuing operations before income taxes1,4463,284(2,187)1,98922,24223
Income (loss) from continuing operations before income taxes:(239)2,758(5,058)(455)29,462(8,343)
Income tax expense (benefit)   (198) 231(196)
Income (loss) from continuing operations:(239)2,758(5,256)(455)29,693(8,539)
Loss before gain (loss) on sale of properties:(8,539)
Income (loss) from discontinued operations  16(1)12,20335 
Net income (loss):(239)2,774(5,257)11,74829,728(8,539)
Net income (loss) attributable to noncontrolling interest     (198)248
Other undisclosed net loss attributable to parent(111)     
Net income (loss) available to common stockholders, basic:(350)2,774(5,257)11,74829,530(8,291)
Interest on convertible debt  503492 480 
Net income (loss) available to common stockholders, diluted:(350)3,277(4,765)11,74830,010(8,291)

Comprehensive Income ($ in thousands)

3/31/2024
Q3
12/31/2023
Q2
9/30/2023
Q1
6/30/2023
Q4
3/31/2023
Q3
12/31/2022
Q2
9/30/2022
Q1
Net income (loss):(239)2,774(5,257)11,74829,728(8,539)
Comprehensive income (loss):(239)2,774(5,257)11,74829,728(8,539)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest     (198)248
Comprehensive income (loss), net of tax, attributable to parent:(239)2,774(5,257)11,74829,530(8,291)

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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