Asset manager Great Elm swings to profit in Q4

Great Elm

02/09/2025 21:38

Overview

Great Elm fiscal Q4 net income $15.7 mln, reversing prior-year loss of $0.6 mln

Q4 revenue falls to $5.6 mln, but up 140% yr/yr excluding one-time transaction in prior year

Strategic partnership with Kennedy Lewis provides $150 mln for real estate expansion

Outlook

Company expects real estate platform expansion with $150 mln from Kennedy Lewis

Great Elm anticipates growth from new strategic partnerships and investments

Result Drivers

COREWEAVE GAINS - Unrealized gains from CoreWeave-related investment and GECC stock price appreciation drove net income

FEE REVENUE GROWTH - Record management and incentive fees from GECC, up 253% year-over-year, boosted revenue

NEW REVENUE STREAM - Launch of Monomoy Construction Services contributed to revenue growth

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
$5.61 mln
Q4 EPS
$0.37
Q4 Net Income
$15.72 mln
Q4 Adjusted EBITDA
$1.50 mln
Q4 Net Income continuing operations
$15.72 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the investment management & fund operators peer group is "buy."

The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 1 three months ago

Press Release: ID:nGNXnTnBb

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)