Great Elm (US:GEG) Globenewswire·2025-02-05 21:15Core Viewpoint - Great Elm Group, Inc. reported solid financial results for its fiscal second quarter ended December 31, 2024, with significant growth in assets under management and revenue across its credit and real estate businesses [3][6]. Financial Performance - Total revenue for the second quarter increased by 24% to $3.5 million, compared to $2.8 million in the prior-year period [6][20]. - Net income from continuing operations was $1.4 million, a turnaround from a net loss of $0.2 million in the prior-year period [6][20]. - Adjusted EBITDA for the second quarter was $1.0 million, up from $0.6 million in the prior-year period [6][21]. Assets Under Management - Fee-paying assets under management (FPAUM) totaled approximately $538 million, while total assets under management (AUM) reached approximately $751 million, reflecting growth of 17% and 14% respectively compared to the prior-year period [5][6]. Strategic Initiatives - The company successfully raised an additional $13.2 million of equity at net asset value (NAV) through the issuance of approximately 1.1 million shares of Great Elm Capital Corp. common stock [5]. - Great Elm announced the acquisition of Greenfield CRE, forming Monomoy Construction Services, which aims to enhance construction management expertise and expand service offerings [3][7]. Shareholder Returns - The company increased its first quarter dividend to $0.37 per share and announced a special dividend of $0.05 per share in December 2024 [10]. - As of February 4, 2025, Great Elm repurchased approximately 4.1 million shares for $7.4 million at an average price of $1.83 per share [8][10]. Future Outlook - Management remains focused on executing strategic priorities, including growing core credit and real estate businesses and leveraging a strong balance sheet to maximize shareholder value [3].