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Great Elm Group Inc. (GEG0.00%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $3,507,000 from $2,819,000 in the same quarter the previous year. This increase was primarily due to real estate property sales and increased management fees.
Operating costs and expenses for the quarter were $5,026,000, compared to $5,515,000 in the same quarter of the previous year. The decrease was attributed to lower selling, general, and administrative expenses.
The company reported an operating loss of $1,977,000 for the quarter, compared to a loss of $2,696,000 in the previous year.
Net income for the quarter was $1,354,000, up from a net loss of $239,000 in the previous year. The improvement was largely due to increased other income, including realized and unrealized gains on investments.
Cash used in operating activities was $9,831,000, while cash provided by investing activities was $9,891,000. Financing activities used $5,490,000, primarily due to stock repurchases.
Great Elm had a working capital of $124,423,000 as of December 31, 2024. The company maintains sufficient liquidity to meet its short-term and long-term obligations.
The filing also details the company's long-term debt, including $26,945,000 in 7.25% notes due 2027 and $36,380,000 in convertible notes due 2030.
Great Elm Group Inc. continues to focus on growing its portfolio of long-duration and permanent capital vehicles across various investment strategies.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Great Elm Group Inc. quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.