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Highlights

  • Record Q4 net income of AUD 15.7 million, reversing prior-year loss
  • Book value per share increased 24% to AUD 2.651 in fiscal 2025
  • Secured AUD 150 million capital commitment from Kennedy Lewis Investment Management

Great Elm Group (NASDAQ: GEG) reported its brightest operating year to date, delivering record financial results for the fourth quarter (Q4) and fiscal year 2025. The company posted Q4 net income from continuing operations of AUD 15.7 million, a significant turnaround from the prior-year loss of AUD 0.6 million. Book value per share rose 24% year-over-year to AUD 2.651, reflecting strong earnings retention and capital management.

The company’s Q4 performance was driven by a 140% year-over-year increase in revenue excluding property sales, supported by record management and incentive fees from Great Elm Capital Corp. (GECC), which reached AUD 3.8 million — a 253% jump from the previous year. Fee-paying assets under management stood at AUD 553 million, with total assets under management at AUD 759 million.

GEG announced a significant strategic partnership with Kennedy Lewis Investment Management, securing up to AUD 150 million in growth capital to support its investment platform. Additionally, Woodstead made a AUD 9 million strategic investment in GEG at AUD 2.25 per share, reinforcing shareholder confidence.

The company also strengthened its real estate platform by launching Monomoy Construction Services and consolidating its subsidiaries under Great Elm Real Estate Ventures, which is expected to enhance focus on the growing industrial outdoor storage (IOS) sector.

Management stated, “Fiscal 2025 marks a pivotal year for Great Elm Group, with record earnings, enhanced capital partnerships, and a streamlined real estate platform positioning us to continue building long-term value.”

Despite the strong bottom-line results, total Q4 revenue declined to AUD 5.6 million compared to AUD 8.9 million in the prior-year quarter due to lower property sales. Full-year revenue fell slightly to AUD 16.3 million from AUD 17.8 million in fiscal 2024, while adjusted EBITDA decreased to AUD 4.3 million from AUD 4.8 million.