Summary of Significant Accounting Policies (Tables)

9 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Earnings Per Share, Basic and Diluted

The following table presents the calculation of basic and diluted income (loss) per share:

	For the three months ended March 31,						For the nine months ended March 31,
(in thousands except per share amounts)	2022			2021			2022			2021
Loss from continuing operations	$	(6,135	)	$	(2,818	)	$	(10,188	)	$	(7,440	)
Income from discontinued operations, net of tax		-			73		$	-		$	211
Net loss	$	(6,135	)	$	(2,745	)	$	(10,188	)	$	(7,229	)
Less: net income (loss) attributable to non-controlling interest, continuing operations		(226	)		(173	)		159			(907	)
Less: net income attributable to non-controlling interest, discontinued operations		-			15			-			45
Net loss attributable to Great Elm Group, Inc.	$	(5,909	)	$	(2,587	)	$	(10,347	)	$	(6,367	)
Weighted average shares basic and diluted:
Weighted average shares of common stock outstanding		26,842			25,757			26,963			25,669
Weighted average shares used in computing income (loss) per share		26,842			25,757			26,963			25,669
Basic and diluted income (loss) per share from:
Loss from continuing operations	$	(0.22	)	$	(0.10	)	$	(0.38	)	$	(0.25	)
Income from discontinued operations		-			0.00			-			0.00
Net loss	$	(0.22	)	$	(0.10	)		(0.38	)		(0.25	)

Summarizes Customer Concentrations as Percentage of Revenues and Accounts Receivable

The Company’s durable medical equipment revenue and related accounts receivable are concentrated with third-party Payors. The following table summarizes customer concentrations as a percentage of revenues:

	For the three months ended March 31,		For the nine months ended March 31,
	2022	2021	2022	2021
Government Payor	33%	32%	35%	35%
Third-party Payor	10%	11%	13%	12%

(1)Revenue concentration percentages have been recast from those previously reported to reflect the presentation of the real estate business within discontinued operations

The following table summarizes customer concentrations as a percentage of accounts receivable:

	As of
	March 31, 2022	June 30, 2021
Government Payor	28%	30%
Third-party Payor	19%	14%

Summary of Impact of New Accounting Standards on Financial Statements

The following tables shows the impact of the adoption on our previously reported financial information:

Consolidated Balance Sheet Impact	As of June 30, 2021
	As Reported(1)			ASU 2020-06 Adjustment			As Adjusted
Liabilities
Convertible notes	$	22,054		$	11,279		$	33,333
Other liabilities		1,070			(155	)		915
Total Liabilities		95,321			11,124			106,445
Stockholders' equity
Additional paid-in-capital		3,319,767			(12,154	)		3,307,613
Accumulated deficit		(3,265,433	)		1,030			(3,264,403	)
Total Great Elm Group, Inc Stockholder's Equity		54,360			(11,124	)		43,236
Total Stockholder's Equity		63,909			(11,124	)		52,785
Consolidated Statement of
Operations Impact	For the three months ended March 31, 2021
	As Reported(1)			ASU 2020-06 Adjustment			As Adjusted
Non-operating expenses
Interest expense	$	(1,534	)	$	173		$	(1,361	)
Net loss from continuing operations
Net loss from continuing operations		(2,991	)		173			(2,818	)
Net loss per share (basic and diluted)		(0.11	)		0.01			(0.10	)
	For the nine months ended March 31, 2021
	As Reported(1)			ASU 2020-06 Adjustment			As Adjusted
Non-operating expenses
Interest expense	$	(4,105	)	$	498		$	(3,607	)
Net loss from continuing operations
Net loss from continuing operations		(7,938	)		498			(7,440	)
Net loss per share (basic and diluted)		(0.27	)		0.02			(0.25	)

(1)As re-casted to reflect the operations of our real estate business as discontinued operations and therefore excluded.