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What’s influencing the Great Elm Group, Inc. (GEG) stock to go down in the aftermarket?

Great Elm Group, Inc. (GEG) has experienced a decrease of 23.47% in aftermarket. However, the last trading session concluded at $1.96 with an increase of 0.51%.

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Fiscal 2022 First Quarter Results – What’s going on?

GEG reported fiscal 2022 first-quarter results on 12th November 2021. The company reported consolidated sales of $16.5 million, $15.4 million more than that of the previous quarter. Moreover, the consolidated net income from continuing operations was $0.1 million, compared to a net loss of $3.8 million in the previous period. Not only this but the consolidated Adjusted EBITDA was $4.3 million, $1.9 million more than that of the previous quarter.

Despite tough pandemic-related conditions, operating companies like Durable Medical Equipment (DME) increased overall revenue by 6.5 percent to $15.6 million in the first quarter. This was driven by robust replenishment sales. Moreover, DME earned $2.1 million in the first quarter, compared to a loss of 0.5 million in the previous quarter. According to DME, the adjusted EBITDA was $5.1 million, $2.8 million more than that of the previous period. MedOne Healthcare LLC (MedOne), a high-service power mobility provider in Arizona, bought the power mobility assets on August 31, 2021. Last but not the least, DME’s power mobility solutions will be enhanced, and its referral network will be expanded as a result of the purchase.

What’s Next?

Despite the obstacles of a rather long recovery to regular operations following the pandemic circumstances during the last year, GEG recorded a great period in DME. During this time, DME finalized the acquisition of MedOne, marking the company’s second completed acquisition in the calendar year 2021.

Moreover, the company also has solid progress in IM, having increased assets under management and completed GECC’s acquisition of a 75% ownership share in Lenders Funding. At GECC, the firm is expanding on the strategy of developing a portfolio of specialized financing solutions capable of meeting the liquidity needs of small businesses at various phases of development. Lastly, the company is excited about the pipeline of future growth potential in this market.

Interest in Real Estate Business – What’s up?

On 24th June 2021, GEG announced the sale of its entire ownership interest in two Class A office buildings in Fort Myers, Florida to an affiliate of Monomoy Properties, LLC. The profits of the sale were invested by GEG in freshly issued Monomoy membership interests, as per the terms of the deal. In March of 2018, GEG paid $2.7 million for the Real Estate Business. This is a terrific deal for GEG. It enhances our overall capitalization by removing the debt connected with the Real Estate Business from GEG’s financial statements, resulting in consolidated operating and leverage metrics that are more indicative of our existing operating companies.

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