Great Elm Group, Inc. · NASDAQ:GEG
Great Elm — Q3 2025 Earnings Presentation
17 slides from Great Elm's earnings presentation, May 8, 2025
Slide 1: Fiscal Third Quarter Ended March 31, 2025
May 8, 2025 Fiscal Third Quarter Ended March 31, 2025 NASDAQ: GEG
Slide 2: GEG Highlights
GEG Highlights • In February 2025, the Company launched Monomoy Construction Services, LLC (“MCS”), an integrated, full-service construction business through the acquisition of Greenfield CRE, LLC (“Greenfield”) and Monomoy BTS Construction Management, LLC • In May 2025, Great Elm Capital Corp. (“GE
Slide 3: About GEG
About GEG Great Elm Group, Inc. (GEG) is a publicly-traded, alternative asset manager focused on: • Growing a scalable and diversified portfolio of long-duration and permanent capital vehicles • Investing in credit, real estate, specialty finance and other alternative strategies Alternative Credit •
Slide 4: Our Goals
Our Goals Improve • Recent debt and equity capital raises at GECC are already driving growth of recurring fee revenue Profitability streams with high contribution margins • GECC delivered another quarter of solid performance, with base management fee growth of over 40% YoY and continued capital depl
Slide 5: GEG Managed Vehicles
GEG Managed Vehicles ALTERNATIVE CREDIT REAL ESTATE GECC Private Funds Monomoy REIT Monomoy BTS • Public BDC with • Great Elm Credit Income • Private Industrial REIT with • Build-to-Suit entity ~$350 million AUM Fund focuses on direct $400+ million AUM develops properties to • ~12% of common stock l
Slide 6: Summary Financial Position
Summary Financial Position1 GEG March 31, 2025, condensed balance sheet, excluding Consolidated Funds $ Million 3/31/2025 Cash $ 31.5 Current Liabilities $ 7.1 Investments 54.3 Long-Term Debt 26.3 Other Current and Long-Term Assets 42.9 Convertible Notes 35.9 Other Liabilities 2.2 Total Liabilities
Slide 7: GECC & Monomoy Highlights
GECC & Monomoy Highlights • GECC generated record TII of $12.5 million in the quarter ended • In February 2025, Great Elm acquired the assets of Greenfield, a March 31, 2025, with NII that exceeded its quarterly distribution leading construction management company and longstanding partner of MCRE •
Slide 8: GEG Launches Monomoy Construction Services (MCS)
GEG Launches Monomoy Construction Services (MCS) • In February 2025, Great Elm acquired Greenfield CRE, LLC Monomoy (“Greenfield”), a leading construction management company and Construction Monomoy CRE longstanding partner of Monomoy CRE, LLC (“MCRE”), our real Services estate investment manager Bu
Slide 9: Fiscal 2025 Third Quarter Highlights
Fiscal 2025 Third Quarter Highlights May 8, 2025 9
Slide 10: Fiscal 3Q25 Financial Highlights
Fiscal 3Q25 Financial Highlights Revenue Net Income Adjusted EBITDA1 • Fiscal 3Q25 revenue grew 15% • Net loss from continuing • Fiscal 3Q25 Adjusted EBITDA to $3.2 million, compared to operations of ($4.5) million for of $0.5 million, compared to $2.8 million in the prior-year Fiscal 3Q25, compared
Slide 11: Assets Under Management
Assets Under Management $mm AUM $mm FPAUM $800 $768 $600 $565 $688 $493 $700 $500 $600 $400 $500 +12% +15% $400 $300 $300 $200 $200 $100 $100 $0 $0 3/31/2024 3/31/2025 3/31/2024 3/31/2025 $768 million of Assets Under Management (“AUM”) as of $565 million of Fee-Paying AUM (“FPAUM”) as of March 31, 2
Slide 12: Financial Review: Fiscal 3Q25 Balance Sheet
Financial Review: Fiscal 3Q25 Balance Sheet (in thousands) March 31, 2025 June 30, 2024 ASSETS Cash and cash equivalents $ 31,528 $ 48,147 Restricted cash - 1,571 Receivables from managed funds 8,244 2,259 Investments in marketable securities - 9,929 Investments at fair value 47,955 44,585 Prepaid a
Slide 13: Financial Review: Fiscal 3Q25 Income Statement
Financial Review: Fiscal 3Q25 Income Statement Three months ended March 31, Nine months ended March 31, (In thousands) 2025 2024 2025 2024 Revenues $ 3,209 $ 2,787 $ 10,708 $ 8,916 Cost of Revenues (11) - 1,082 - Operating costs and expenses: Investment management expenses 4,033 2,733 10,522 8,334 D
Slide 14: Results By Quarter
Results By Quarter Three Months Ended March 31, December 31, September 30, June 30, March 31, (in thousands) 2025 2024 2024 2024 2024 NON-GAAP RECONCILIATION Net income (loss) from continuing operations - GAAP $ (4,501) $ 1,354 $ 2,974 $ (578) $ (2,883) Interest expense 1,039 1,030 1,028 1,137 1,074
Slide 15: Results Year-Over-Year
Results Year-Over-Year Three months ended March 31, Nine months ended March 31, (in thousands) 2025 2024 2025 2024 NON-GAAP RECONCILIATION Net income (loss) from continuing operations - GAAP $ (4,501) $ (2,883) $ (173) $ (364) Interest expense 1,039 1,074 3,097 3,197 Income tax expense (benefit) - -
Slide 16: Contact Information
Contact Information Investor Relations Contact geginvestorrelations@greatelmcap.com May 8, 2025 16
Slide 17: Disclaimer
Disclaimer Statements in this presentation 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