Great Elm Group, Inc. · NASDAQ:GEG
Great Elm — Q4 2025 Earnings Presentation
20 slides from Great Elm's earnings presentation, Sep 3, 2025
Slide 1: Fiscal Year & Fourth Quarter Ended June 30, 2025
September 3, 2025 Fiscal Year & Fourth Quarter Ended June 30, 2025 NASDAQ: GEG
Slide 2: GEG Highlights
GEG Highlights • Record Results: Fiscal Q4 2025 marked the best operating quarter and fiscal year in Great Elm’s history, with record net income, attributed to: o Growth in management and incentive fees from Great Elm Capital Corp. (“GECC”), o New revenue streams from Monomoy Construction Services,
Slide 3: Our Accomplishments
Our Accomplishments • Best operating fiscal year and fiscal quarter in Great Elm’s history, driven by increased management and incentive fees, Improve primarily from the Alternative Credit business Profitability • GECC delivered another record setting quarter, with incentive fee growth of ~52% YoY a
Slide 4: 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 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 REIT focused on • Build-to-Suit entity ~$345 million AUM Fund (“GECIF”) focuses industrial outdoor storage develops properties to • ~12% of common sto
Slide 6: Summary Financial Position
Summary Financial Position1,2 GEG June 30, 2025, condensed balance sheet, excluding Consolidated Funds $ Million 6/30/2025 Cash $30.6 Current Liabilities $9.3 Investments 68.4 Long-Term Debt 26.4 Other Current and Long-Term Assets 44.3 Convertible Notes 34.6 Other Liabilities 2.7 Total Liabilities $
Slide 7: Alternative Credit Highlights
Alternative Credit Highlights GECC GECIF • Record Record Investment Investment IncomeIncome • Growing AUM Growing AUM • Record Performance Record Performance In the quarter ended June 30, 2025, GECC GECC completed four capital raises during GECIF posted 21.0% net returns in generated the highest Tot
Slide 8: Real Estate Highlights
Real Estate Highlights Asset Management Fees Transaction Activity Development Activity Ramp in Business Monomoy CRE generated In Fiscal Q4 2025, acquired Team is under contract on Since launching MCS in stable fee revenue for the property for ~$1.3 million at second BTS property, February 2025, the
Slide 9: July 2025 Strategic Transactions
July 2025 Strategic Transactions • On July 31, 2025, Great Elm and Kennedy Lewis Investment Management (“KLIM”) closed a strategic transaction catalyzing growth across the Monomoy real estate platform • Transaction included 4.9% investment in GEG, up to $150 million in capital for real estate, and B
Slide 10: August 2025 Strategic Transactions
August 2025 Strategic Transactions GEG Transactions • On August 27, 2025, Great Elm and Woodstead closed a strategic transaction providing new growth capital to GEG to be used to expand AUM and enhance profitability • Transactions included a $9 million investment in GEG, warrants, and a Board role:
Slide 11: Fiscal 2025 Fourth Quarter and Full Year Highlights
Fiscal 2025 Fourth Quarter and Full Year Highlights September 3, 2025 11
Slide 12: Fiscal 4Q25 Financial Highlights
Fiscal 4Q25 Financial Highlights Revenue Net Income Adjusted EBITDA1 • Fiscal 4Q25 revenue was $5.6 • Net income from continuing • Fiscal 4Q25 Adjusted EBITDA million, compared to $8.9 operations was $15.7 million of $1.5 million, compared to million in the prior-year period for Fiscal 4Q25, compare
Slide 13: Fiscal 2025 Financial Highlights
Fiscal 2025 Financial Highlights Revenue Net Income Adjusted EBITDA1 • Fiscal 2025 revenue was $16.3 • Net income from continuing • Fiscal 2025 Adjusted EBITDA million, compared to $17.8 operations of $15.6 million for of $4.3 million, compared to million in the prior-year period Fiscal 2025, compar
Slide 14: Assets Under Management
Assets Under Management $mm AUM $mm FPAUM $800 $730 $759 $600 $553 $527 $700 $500 $600 $400 $500 +4% +5% $400 $300 $300 $200 $200 $100 $100 $0 $0 6/30/2024 6/30/2025 6/30/2024 6/30/2025 $759 million of Assets Under Management (“AUM”) as of $553 million of Fee-Paying AUM (“FPAUM”) as of June 30, 2025
Slide 15: Financial Review: Fiscal 4Q25 Balance Sheet
Financial Review: Fiscal 4Q25 Balance Sheet (in thousands) June 30, 2025 June 30, 2024 ASSETS Cash and cash equivalents $ 30,603 $ 48,147 Restricted cash - 1,571 Receivables from managed funds 8,331 2,259 Investments in marketable securities - 9,929 Investments at fair value 60,614 44,585 Prepaid an
Slide 16: Financial Review: Fiscal 4Q25 Income Statement
Financial Review: Fiscal 4Q25 Income Statement Three months ended June 30, Twelve months ended June 30, (In thousands) 2025 2024 2025 2024 Revenues $ 5,608 $ 8,918 $ 16,316 $ 17,834 Cost of Revenues - 5,526 1,082 5,526 Operating costs and expenses: Investment management expenses 4,820 2,997 15,342 1
Slide 17: Results By Quarter
Results By Quarter Three Months Ended June 30, March 31, December 31, September 30, June 30, (in thousands) 2025 2025 2024 2024 2024 NON-GAAP RECONCILIATION Net income (loss) from continuing operations - GAAP $ 15,723 $ (4,501) $ 1,354 $ 2,974 $ (578) Interest expense 1,060 1,039 1,030 1,028 1,137 I
Slide 18: Results Year-Over-Year
Results Year-Over-Year Three months ended June 30, Twelve months ended June 30, (in thousands) 2025 2024 2025 2024 NON-GAAP RECONCILIATION Net income (loss) from continuing operations - GAAP $ 15,723 $ (578) $ 15,550 $ (942) Interest expense 1,060 1,137 4,157 4,334 Income tax expense 86 101 86 101 D
Slide 19: Contact Information
Contact Information Investor Relations Contact geginvestorrelations@greatelmcap.com September 3, 2025 19
Slide 20: 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