Great Elm | 8-K: FY2026 Q2 Revenue: USD 3.011 M

Revenue: As of FY2026 Q2, the actual value is USD 3.011 M.

EPS: As of FY2026 Q2, the actual value is USD -0.5.

EBIT: As of FY2026 Q2, the actual value is USD -4.533 M.

Financial Performance

• Total Revenue: Great Elm Group, Inc. reported total revenue of $3.0 million for the second quarter ended December 31, 2025, a decrease from $3.5 million in the prior-year period .
• Net Loss: The company recorded a net loss of - $16.5 million for the second quarter, compared to a net income of $1.4 million in the prior-year period . This decrease was primarily due to a - $14.4 million unrealized loss and a $2.3 million realized gain from GEG’s investments . In the prior-year period, there was a net unrealized gain of $2.4 million .
• Adjusted EBITDA: Adjusted EBITDA for the second quarter was - $1.6 million, down from $1.0 million in the prior-year period .

Operational Metrics

• Assets Under Management (AUM): As of December 31, 2025, GEG’s fee-paying assets under management (FPAUM) totaled approximately $561 million, an increase of 4% year-over-year . Total assets under management (AUM) were approximately $740 million, a reduction of 2% compared to the prior-year period .
• Share Repurchases: Great Elm Group, Inc. repurchased approximately 1.1 million shares, representing over 3% of shares outstanding, at an average price of $2.47 per share during the second quarter . Since the initiation of the stock repurchase program, the company has repurchased approximately 6.4 million shares for $12.7 million at an average price of $1.99 per share, with approximately $12.3 million remaining capacity under the program as of February 3, 2026 .

Segment and Unique Metrics

• Cash and Cash Equivalents: As of December 31, 2025, GEG had approximately $51.2 million in cash and cash equivalents on its balance sheet .
• Alternative Credit Segment: Great Elm Group, Inc. received management fees of $1.2 million from Great Elm Capital Corp. (GECC) for the second fiscal quarter . GECC paid $1.48 per share in dividends to shareholders for its year ended December 31, 2025 . The Great Elm Credit Income Fund, a private credit strategy, began an orderly wind-down .
• Real Estate Segment: Monomoy CRE, LLC (MCRE) received approximately $1.0 million in investment and property management fees, an increase of over 15% from the prior-year period . Monomoy BTS, Corp. (MBTS) substantially completed its third build-to-suit development property in Florida . Monomoy Construction Services, LLC (MCS) contributed $0.4 million to total revenue for the fiscal second quarter .
• Investments: Great Elm Group, Inc. recorded a net realized and unrealized loss of - $4.5 million from its CoreWeave-related investment during the fiscal second quarter of 2026, which included a realized gain of $2.2 million and an unrealized loss of - $6.7 million . To date, the company has received $5.8 million in distributions from its CoreWeave-related investment, exceeding its original $5.0 million capital investment . Unrealized losses on investments in GECC common stock and related SPVs totaled - $4.0 million and - $3.0 million, respectively, for the quarter .

Outlook / Guidance

Great Elm Group, Inc. is focused on leveraging its balance sheet to find new investments to grow assets under management and fee revenue . The company aims to deliver sustained, long-term value for its shareholders .