Business
Great Elm Capital Group, Inc. Reports First Quarter 2020 Financial Results
Significant quarter-over-quarter DME revenue growth in major product categoriesNew positive air pressure (“PAP”) patient setups increased by approximately
About this update from Great Elm Group, Inc.
[{"type":"text","content":"Significant quarter-over-quarter DME revenue growth in major product categoriesNew positive air pressure (“PAP”) patient setups increased by approximately 22.0%, year-over-yearInvestment Management reports free cash flow of $0.3 million for the three months ended September 30, 2019, up from $(0.1) million in the prior quarter WALTHAM, Mass., Nov. 12, 2019 (GLOBE NEWSWIRE) -- Great Elm Capital Group, Inc. (NASDAQ: GEC, “Great Elm”) announced its financial results for the quarter ended September 30, 2019. Great Elm will host a conference call and webcast on Tuesday, November 12, 2019 at 5:00 p.m. Eastern Time to discuss its first quarter 2020 financial results. Please see below for details.\n Select highlights from the first quarter 2020 include: Operating Companies:▪ For the three months ended September 30, 2019, $13.2 million of revenue, $0.8 million of net loss and $3.0 million of adjusted EBITDA▪ Invested heavily in people, processes and technology to enhance our scalable infrastructure, capable of supporting multiple acquisitions per year▪ Management team has identified a large number of potential acquisition targets with strong product fit▪ Outlook for continued growth in fiscal year 2020 underpinned by key performance indicators Investment Management:▪ For the three months ended September 30, 2019, $0.9 million of revenue, net loss of $0.05 million and $1.0 million of adjusted EBITDA▪ For the three months ended September 30, 2019, $1.0 million of adjusted EBITDA up 64% vs. $0.6 million during the same period in the prior year▪ For the three months ended September 30, 2019, quarter-over-quarter management fee growth of approximately 2.2%▪ Outlook for continued free cash flow growth in fiscal year 2020 based on an increase in management fee revenue and the termination of the Full Circle consulting agreement “We have made, and will continue to make, significant investments in our DME business in order to develop a scalable platform, capable of supporting organic growth as well as numerous identified acquisition opportunities,” remarked Peter A. Reed, Great Elm’s Chief Executive Officer. “Furthermore, we believe our Investment Management business is poised for continued free cash flow growth.” Alignment of Interest The employees of Great Elm and Great Elm Capital Management, Inc. (“GECM”) collectively own approximately 2.0 mill...