Great Elm Capital (GECC) Financial Statements & Analysis

Great Elm Capital (GECC) Income Statement

Great Elm Capital reported revenue of $44.48M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 344.8% from $10.00M a year earlier. Great Elm Capital posted a net loss of $31.79M, compared with net income of $3.55M a year earlier. Gross margin was 76.4% and operating margin -28.8%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $13.84M, down 3.1% from the same quarter a year earlier.

Great Elm Capital Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Great Elm Capital Corp. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	44.48	10.00	41.95	-14.76	-5.09	22.90	27.04	27.75	29.73
Cost of Revenue	10.48	13.39	10.12	9.38	8.93	7.97	6.82	5.09	2.84
Gross Profit	34.00	10.00	31.83	-14.76	25.25	-27.71	-3.96	-4.79	-0.21
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	1.62	4.60	4.58	4.11	3.63	3.07	2.57	3.48	3.23
Operating Expenses	46.80	6.45	6.50	0.82	5.18	4.24	3.59	4.21	2.55
Operating Income	-12.81	3.55	25.33	-15.58	22.76	-31.96	-7.55	-9.01	-2.75
Other Income/Expense
Interest Income	49.99	31.54	28.90	18.68	19.92	19.21	24.20	27.33	28.92
Interest Expense	18.41	13.39	10.12	9.38	8.93	7.97	6.82	5.09	2.84
Other Income/Expense	-18.41	0.00	0.29	0.25	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	-31.21	3.55	25.62	-15.58	-10.28	-31.96	-7.55	-9.01	-2.75
Income Tax Expense	0.58	0.00	0.29	0.25	0.05	0.02	0.21	0.18	0.12
Net Income	-31.79	3.55	25.33	-15.58	-10.28	-31.96	-7.55	-9.01	-2.75
Net Income - Continuous Operations	-31.79	3.55	25.33	-15.58	-10.28	-31.96	-7.55	-9.01	-2.75
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-12.81	3.55	25.33	-15.58	-3.96	-31.96	-7.55	-9.01	-2.75
EBIT	36.30	27.68	24.57	21.40	22.76	16.29	-	-	-
Depreciation & Amortization	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Per Share
Basic EPS	-3.00	-	3.00	-2.00	-3.00	-14.00	-4.00	-5.00	-1.00
Diluted EPS	-3.00	-	3.00	-2.00	-3.00	-14.00	-4.00	-5.00	-1.00
Basic Shares Outstanding	12.36	9.84	7.60	6.25	4.07	2.22	1.71	1.78	1.94
Diluted Shares Outstanding	12.36	9.84	7.60	6.25	4.07	2.22	1.71	1.78	1.94

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Great Elm Capital Financial Statements

What was Great Elm Capital's revenue in fiscal 2025?

Great Elm Capital reported revenue of $44.48M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 344.8% from $10.00M a year earlier.

Is Great Elm Capital profitable?

No. Great Elm Capital reported a net loss of $31.79M in fiscal 2025. In fiscal 2024 it earned $3.55M.

What is Great Elm Capital's operating margin?

Great Elm Capital's operating income was −$12.80M on revenue of $44.48M in fiscal 2025, an operating margin of -28.8%, compared with 35.5% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition