Q1 2026 Great Elm Group Inc Earnings Call Transcript
Key Points
- Great Elm Group Inc (GEG) raised nearly $250 million of debt and equity capital, enhancing its financial flexibility.
- Fee-paying assets under management grew 9% year over year to approximately $594 million, indicating strong asset growth.
- The partnership with Kennedy Lewis Investment Management is expected to accelerate real estate platform expansion.
- Monomoy Construction Services contributed approximately $700,000 in revenue, showcasing successful integration and growth.
- GECC's private credit strategy returned 15.2% net calendar year-to-date, highlighting strong performance in alternative credit.
- GECC's operating results were negatively impacted by First Brands' bankruptcy, affecting NAV and resulting in non-accrual status.
- The company reported a net loss of $7.9 million for the quarter, primarily due to unrealized losses on investments.
- Adjusted EBITDA for the quarter was a loss of $50,000, compared to a gain of $1.3 million in the prior year period.
- There was a significant unrealized loss in Corey's stock price, contributing to GEG's net loss for the quarter.
- Despite growth initiatives, the company faces challenges in diversifying and reducing position sizes in its BDC strategy.
Greetings and welcome to the Great Elm Group fiscal 2026 First quarter conference call. (Operator Instruction)
It is now my pleasure to introduce your host, Adam Yates, Managing Director.
Good morning everyone.
Thank you for joining us for Great Elm Group's fiscal Year 2026 First quarter earnings conference call. As a reminder, this conference call is being recorded on Thursday, November 13, 2025.
If you would like to be added to our distribution list, you can email greatelm.investor [email protected] or you can sign up for alerts directly on our website www.greatelmgroup.com.
The slide presentation accompanying today's conference call and webcast can be found on our website under events and presentations. A link to the webcast is also available on our website, as well as in the press release that was disseminated to announce the quarterly results.
Today's conference call includes forward
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