Monitor GECC share price for stabilization of unrealized losses and watch for fee income trends from AUM. The expanded buyback provides a floor but does not offset declining AUM and operating losses.
Price Chart
Executive Summary
Great Elm Group reported fiscal Q3 2026 revenue of $3.4M (+7% YoY) but net loss widened to $(13.5)M from $(4.5)M, driven by $9.8M unrealized losses on GECC investments. Fee-paying AUM declined 7% to $528M. The board expanded the stock repurchase program by $15M to $40M, signaling confidence amid operational headwinds.
Key Financial Metrics
Key Facts
- Total revenue $3.4M vs $3.2M prior year, +7%
- Net loss $(13.5)M vs $(4.5)M prior year
- Net loss per share $(0.45) vs $(0.17) prior year
- Adjusted EBITDA $(1.6)M vs $0.5M prior year
- Fee-paying AUM $528M, down 7% YoY
- Cash and equivalents $45.5M
- Repurchased 1.4M shares in Q3 at avg $2.04
- Board increased buyback authorization by $15M to $40M total
- Unrealized losses on GECC investments: $2.8M on common stock, $8.1M on SPVs
Financial Impact
Net loss increased by $9.0M YoY to $(13.5)M, primarily from investment losses; revenue growth offset by operating cost increases.
Risk Factors
- Continued volatility in GECC stock price driving further unrealized losses
- Declining fee-paying AUM may pressure future management fees
- Incentive fee waivers at GECC reduce potential revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-208889 |
| Document: geg-20260506.htm | 0001193125-26-208889 |
| Document: 0001193125-26-208889-index-headers.html | 0001193125-26-208889 |
| Document: 0001193125-26-208889-index.html | 0001193125-26-208889 |
| Document: 0001193125-26-208889.txt | 0001193125-26-208889 |
| 8-K Data (Synthetic) | 0001193125-26-208889 |
US Market Status
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