Great Elm Group Reports Fiscal 2026 Third Quarter Financial Results
– Unrealized Loss of $9.8 Million on GEG’s Investments in the Quarter, Driven Primarily by GECC Share Price Volatility 1 –
– Fee-Paying AUM and AUM Totaled $528 Million and $744 Million, Respectively, as of March 31, 2026 –
– Total Revenue Increased 7% from the Prior-Year Period –
– Monomoy BTS Begins Development of Fourth Build-to-Suit Property –
– Strong, Liquid Balance Sheet with Over $45 Million of Cash and Equivalents Positions Company to Drive Continued Growth –
–Repurchased Approximately 1.4 Million Shares, Over 4% of Shares Outstanding –
– Board Approved a $15 Million Increase to GEG’s Stock Repurchase Program, Bringing Total Authorization to $40 Million –
Company to Host Conference Call at 8:30 a.m. ET on May 7, 2026
PALM BEACH GARDENS, Fla., May 06, 2026 (GLOBE NEWSWIRE) -- Great Elm Group, Inc. (“we,” “our,” “GEG,” “Great Elm,” or “the Company”), (NASDAQ: GEG), an alternative asset manager, today announced financial results for its fiscal third quarter ended March 31, 2026.
Management Commentary
Jason Reese, Chief Executive Officer of the Company stated, “We navigated a challenging fiscal third quarter against a backdrop of continued volatility and market negativity towards private credit. Results were primarily impacted by unrealized losses tied to movements in GECC’s share price. Nevertheless, we remain focused on prudent capital deployment and building momentum across our alternative asset management platform.
At GECC, we took decisive actions to strengthen the balance sheet and enhance portfolio quality. Our focus remains on rigorous credit underwriting, increasing portfolio diversification, and adding cash-generative, secured credit investments. GECC maintains ample liquidity and is positioned for an improved trajectory and long-term performance.
Within our real estate platform, Monomoy continues to drive growth and value creation. The business delivered strong operational execution during the quarter, supported by robust acquisition activity, an expanding development pipeline, and continued progress on strategic capital initiatives. Monomoy REIT closed five acquisitions during the quarter, surpassing total acquisition activity for all of calendar 2025, and continues to action a strong pipeline of attractive opportunities. We are actively exploring additional capital raising opportunities to grow the business.
We also continue to source unique investments through our proprietary network. Our CoreWeave-related investment continues to perform well, with cumulative distributions exceeding our initial investment and meaningful upside potential remaining at current trading levels.
Finally, we repurchased a significant amount of our common stock for the tenth consecutive quarter, underscoring our conviction in the business and our commitment to building shareholder value. Under our recently expanded stock repurchase program, approximately $25 million of capacity remains available. Looking ahead, we are focused on selectively deploying capital into compelling opportunities, growing assets under management and fee-related earnings, and delivering sustained long-term value for our shareholders.”
Fiscal Third Quarter 2026 and Recent Highlights
GEG Business Highlights
Alternative Credit
Real Estate
Investments
Stock Repurchase Program
In the fiscal third quarter of 2026, GEG’s Board of Directors approved a $15 million increase to the Company’s stock repurchase program, authorizing the repurchase of up to $40 million in aggregate of its outstanding common stock in the open market. As of May 4, 2026, the Company has repurchased approximately 7.8 million shares for $15.6 million, at an average price of $2.00 per share, leaving approximately $24.4 million of capacity remaining under the program for future repurchases.
Fiscal 2026 Third Quarter Conference Call & Webcast Information
About Great Elm Group, Inc.
Great Elm Group, Inc. (NASDAQ: GEG) is a publicly-traded, alternative asset manager focused on growing a scalable and diversified portfolio of long-duration and permanent capital vehicles across credit, real estate, specialty finance, and other alternative strategies. Great Elm Group, Inc. and its subsidiaries currently manage Great Elm Capital Corp., a publicly-traded business development company, and Monomoy Properties REIT, LLC, an industrial outdoor storage (“IOS”) focused real estate investment trust, in addition to other investments. Great Elm Group, Inc.’s website can be found at www.greatelmgroup.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements in this press release that are “forward-looking” statements, including statements regarding expected growth, profitability, acquisition opportunities and outlook involve risks and uncertainties that may individually or collectively impact the matters described herein. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made and represent Great Elm’s assumptions and expectations in light of currently available information. These statements involve risks, variables and uncertainties, and Great Elm’s actual performance results may differ from those projected, and any such differences may be material. For information on certain factors that could cause actual events or results to differ materially from Great Elm’s expectations, please see Great Elm’s filings with the Securities and Exchange Commission (“SEC”), including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Additional information relating to Great Elm’s financial position and results of operations is also contained in Great Elm’s annual and quarterly reports filed with the SEC and available for download at its website www.greatelmgroup.com or at the SEC website www.sec.gov.
Non-GAAP Financial Measures
The SEC has adopted rules to regulate the use in filings with the SEC, and in public disclosures, of financial measures that are not in accordance with US GAAP, such as adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”). Adjusted EBITDA is derived from methodologies other than in accordance with US GAAP. Great Elm believes that Adjusted EBITDA is an important measure for investors to use in evaluating Great Elm’s businesses. In addition, Great Elm’s management reviews Adjusted EBITDA as they evaluate acquisition opportunities.
Adjusted EBITDA has limitations as an analytical tool, and you should not consider it either in isolation from, or as a substitute for, analyzing Great Elm’s results as reported under US GAAP. Non-GAAP financial measures reported by Great Elm may not be comparable to similarly titled amounts reported by other companies.
Included in the financial tables below is a reconciliation of Adjusted EBITDA to the most directly comparable US GAAP financial measure, net income from continuing operations.
Endnotes
1 Includes approximately $0.1 million of net realized and unrealized gain attributable to the Company’s investment in Consolidated Funds for the quarter ended March 31, 2026.
2 Includes estimated future capital expenditures and tenant improvement commitments.
Media & Investor Contact:
Investor Relations
geginvestorrelations@greatelmcap.com
Great Elm Group, Inc.
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