Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Estimated Useful Lives of Property, Equipment, Real Estate Assets and Rental Equipment

Depreciation is recognized using the straight-line method over their estimated useful lives as follows:

Description	Life in Years
Property and Equipment
Leasehold improvements	lesser of 7 years or life of the lease
Vehicles	5
Sleep study equipment	5
Furniture and fixtures	1 to 5
Computer equipment and software	3
Rental Equipment
Medical equipment for lease	1 to 5

Earnings Per Share, Basic and Diluted

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

	For the years ended June 30,
(in thousands except per share amounts)	2022			2021
Loss from continuing operations	$	(15,037	)	$	(8,519	)
Income from discontinued operations, net of tax		-			649
Net loss	$	(15,037	)	$	(7,870	)
Less: net loss attributable to non-controlling interest, continuing operations		(144	)		(648	)
Less: net income attributable to non-controlling interest discontinued operations		-			53
Net loss attributable to Great Elm Group, Inc.	$	(14,893	)	$	(7,275	)
Weighted average shares basic and diluted:
Weighted average shares of common stock outstanding		26,784			25,722
Weighted average shares used in computing income (loss) per share		26,784			25,722
Basic and diluted income (loss) per share from:
Loss from continuing operations	$	(0.56	)	$	(0.31	)
Income from discontinued operations		-			0.03
Net loss per share	$	(0.56	)	$	(0.28	)

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 years ended June 30,
	2022	2021
Government Payor	35%	37%
Third-party Payor	12%	12%

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

	As of June 30,
	2022	2021
Government Payor	29%	30%
Third-party Payor	14%	14%

Summary of Impact of New Accounting Standards on Financial Statements

As a result of the application of the retrospective adoption of ASU 2020-06, certain line items in our consolidated financial statements and related notes were adjusted as follows:

	As of June 30, 2021
Consolidated Balance Sheet Impact	As Reported(1)			ASU 2020-06 Adjustment			As Adjusted(1)
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

	For the year ended June 30, 2021
Consolidated Statement of Operations Impact	As Reported(1)			ASU 2020-06 Adjustment		As Adjusted(1)
Non-operating expenses
Interest expense	$	(5,620	)	$	671	$	(4,949	)
Net loss from continuing operations
Loss from continuing operations, before income taxes		(7,515	)		671		(6,844	)
Income tax expense		(1,813	)		138		(1,675	)
Loss from continuing operations		(9,328	)		809		(8,519	)
Discontinued operations:
Income from discontinued operations, net of tax		649					649
Net loss		(8,679	)		809		(7,870	)
Less: net loss attributable to non-controlling interest, continuing operations		(648	)				(648	)
Less: net income attributable to non-controlling interest, discontinued operations		53					53
Net loss attributable to Great Elm Group		(8,084	)		809		(7,275	)
Net loss per share (basic and diluted)		(0.31	)		0.03		(0.28	)

	For the year ended June 30, 2021
Consolidated Statements of Stockholders' Equity Impact	As Reported(1)			ASU 2020-06 Adjustment			As Adjusted(1)
Net loss		(8,084	)		809			(7,275	)
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

	For the year ended June 30, 2021
Consolidated Statement of Cash Flows Impact	As Reported(1)			ASU 2020-06 Adjustment			As Adjusted(1)
Net loss		(8,679	)		809			(7,870	)
Non-cash interest and amortization of capitalized issuance costs		2,522			(671	)		1,851
Deferred tax expense		684			(138	)		546
Net cash provided by (used in) operating activities - continuing operations		(20,907	)		-			(20,907	)
Net cash provided by operating activities - discontinued operations		1,931			-			1,931
Net cash provided by (used in) operating activities		(18,976	)		-			(18,976	)
Net cash used in investing activities - continuing operations		(19,839	)		-			(19,839	)
Net cash provided by investing activities - discontinued operations		4,357			-			4,357
Net cash used in investing activities		(15,482	)		-			(15,482	)
Net cash provided by financing activities - continuing operations		20,666			-			20,666
Net cash used in financing activities - discontinued operations		(2,326	)		-			(2,326	)
Net cash provided by financing activities		18,340			-			18,340
Net increase (decrease) in cash and cash equivalents		(16,118	)		-			(16,118	)
Cash and cash equivalents at beginning of year		40,500			-			40,500
Cash and cash equivalents at end of year		24,382			-			24,382

(1) The As Reported column refects amounts originally reported in our Form 10-K filed on September 21, 2021. The As Adjusted column reflects recast amounts reported in our Form 8-K filed on May 5, 2022.