Revenue: As of FY2025 Q3, the actual value is USD 10.64 M, beating the estimate of USD 10.25 M.EPS: As of FY2025 Q3, the actual value is USD -1.79, missing the estimate of USD 0.24.EBIT: As of FY2025 Q3, the actual value is USD 573 K.<h3>Segment Revenue</h3><ul><li>Total Investment Income: For the three months ended September 30, 2025, total investment income was $10,642 thousand, compared to $11,727 thousand for the same period in 2024. For the nine months ended September 30, 2025, total investment income was $37,414 thousand, compared to $30,184 thousand for the same period in 2024.</li></ul><h3>Operational Metrics</h3><ul><li>Net Investment Income: For the three months ended September 30, 2025, net investment income was $2,433 thousand, compared to $4,072 thousand for the same period in 2024. For the nine months ended September 30, 2025, net investment income was $12,913 thousand, compared to $10,323 thousand for the same period in 2024.</li><li>Net Realized Gain (Loss): For the three months ended September 30, 2025, net realized gain was $6,156 thousand, compared to $226 thousand for the same period in 2024. For the nine months ended September 30, 2025, net realized gain was $6,879 thousand, compared to $2,112 thousand for the same period in 2024.</li><li>Net Change in Unrealized Appreciation (Depreciation): For the three months ended September 30, 2025, net change in unrealized depreciation was -$30,601 thousand, compared to -$821 thousand for the same period in 2024. For the nine months ended September 30, 2025, net change in unrealized depreciation was -$29,608 thousand, compared to -$10,742 thousand for the same period in 2024.</li></ul><h3>Cash Flow</h3><ul><li>Net Cash Used for Operating Activities: For the nine months ended September 30, 2025, net cash used for operating activities was -$21,408 thousand.</li><li>Net Cash Provided by Financing Activities: For the nine months ended September 30, 2025, net cash provided by financing activities was $21,408 thousand.</li></ul><h3>Unique Metrics</h3><ul><li>Weighted Average Yield: The weighted average yield on debt securities was 11.52% as of September 30, 2025, compared to 12.37% as of December 31, 2024.</li></ul><h3>Future Outlook and Strategy</h3><ul><li>Core Business Focus: Great Elm Capital Corp. aims to generate both current income and capital appreciation through debt and income-generating equity investments, focusing on secured and senior secured debt instruments of middle-market companies. The company also invests in collateralized loan obligation (CLO) securities and related warehouse facilities.</li><li>Non-Core Business: The company formed a joint venture, CLO Formation JV, LLC, to facilitate the creation of CLOs, primarily investing in subordinated note securities in CLOs and loan accumulation facilities.</li><li>Priority: The company emphasizes maintaining its qualification as a regulated investment company (RIC) and a business development company (BDC) to avoid corporate-level taxes on distributed income.</li></ul>

Great ELM Capital | 10-Q: FY2025 Q3 Revenue Beats Estimate at USD 10.64 M