Great Elm Group Stock Earnings Reports

Great Elm Group reported progress in fiscal Q1 2026 focused on scaling its credit and real estate platforms. Fee-paying AUM rose ~9% year-over-year to ~$594M (10% pro forma to ~$601M). Management closed nearly $250M of debt and equity capital during the quarter, including a strategic partnership with Kennedy Lewis (up to $150M committed to Monomoy REIT) and a $9M equity investment from Woodstead, and expanded its stock repurchase program to $25M (5.6M shares bought through Nov. 11). Monomoy Real Estate Ventures continued to ramp: Monomoy BTS sold a build-to-suit for >$7M, Monomoy Construction Services contributed ~$700K of revenue, and the REIT deployed >$13M to acquire seven properties. GECC (the alternative credit arm) raised ~ $28M in equity, doubled revolver capacity to $50M, and refinanced high-cost debt to lower interest expense, but saw NAV and operating results hurt by syndicated loan exposure to First Brands (which filed for bankruptcy and was placed on nonaccrual). Financial results: revenue was $10.8M (boosted by the BTS sale), but the company reported a net loss of $7.9M and adjusted EBITDA loss of $0.5M, primarily due to unrealized losses on GECC common stock and a CoreWeave-related investment. Cash on hand was ~$53.5M and book value per share ~ $2.30. Management emphasizes that fixed costs are largely in place and that future profitability should benefit from operating leverage as AUM and fee income grow.