Great Elm Group, Inc. ( (GEG) ) has released its Q1 earnings. Here is a breakdown of the information Great Elm Group, Inc. presented to its investors.
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Great Elm Group, Inc. is a publicly-traded alternative asset manager specializing in managing a diversified portfolio across credit, real estate, specialty finance, and other alternative strategies. The company recently announced its financial results for the first quarter of fiscal 2025, highlighting significant growth in its assets under management and revenue.
In the first quarter of fiscal 2025, Great Elm Group reported a 21% increase in total revenue, reaching $4.0 million, primarily driven by property sales and increased management fees. The company’s net income from continuing operations rose slightly to $3.0 million, reflecting a reversal of previously recorded unrealized losses. Additionally, the company expanded its stock repurchase program, doubling its authorization to $20 million, and repurchased 2.5 million shares.
The company’s fee-paying assets under management grew by 24% over the previous year, totaling $559 million. Their strategic initiatives included the issuance of new notes by Great Elm Capital Corp., which helped manage upcoming debt maturities effectively. Monomoy Properties REIT monetized $7.1 million of real estate assets, and the Great Elm Credit Income Fund reported strong returns of over 11% since its inception.
Looking forward, Great Elm Group aims to continue expanding its core credit and real estate platforms. The management remains focused on executing strategic priorities, leveraging their strong balance sheet, and maximizing shareholder value through growth initiatives and investment opportunities.
