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Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Mar. 31, 2023
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)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income from continuing operations

 

$

(455

)

 

$

(6,467

)

 

$

19,735

 

 

$

(14,006

)

Less: net income (loss) attributable to non-controlling interest, continuing operations

 

 

-

 

 

 

1,146

 

 

 

(1,554

)

 

 

913

 

Numerator for basic EPS - Net (loss) income from continuing operations attributable to Great Elm Group, Inc.

 

$

(455

)

 

$

(7,613

)

 

$

21,289

 

 

$

(14,919

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income from discontinued operations

 

 

12,203

 

 

 

332

 

 

 

13,202

 

 

 

3,818

 

Less: net (loss) income attributable to non-controlling interest, discontinued operations

 

 

-

 

 

 

(1,372

)

 

 

1,504

 

 

 

(754

)

Numerator for basic EPS - Net (loss) income from discontinued operations, attributable to Great Elm Group, Inc.

 

$

12,203

 

 

$

1,704

 

 

$

11,698

 

 

$

4,572

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense associated with Convertible Notes, continuing operations

 

$

-

 

 

$

-

 

 

$

1,451

 

 

$

-

 

Numerator for diluted EPS - Net (loss) income from continuing operations attributable to Great Elm Group, Inc., after the effect of dilutive securities

 

$

(455

)

 

$

(7,613

)

 

$

22,740

 

 

$

(14,919

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator for diluted EPS - Net (loss) income from discontinued operations, attributable to Great Elm Group, Inc.

 

$

12,203

 

 

$

1,704

 

 

$

11,698

 

 

$

4,572

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic EPS - Weighted average shares of common stock outstanding

 

 

28,997

 

 

 

26,842

 

 

 

28,779

 

 

 

26,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock

 

 

-

 

 

 

-

 

 

 

1,328

 

 

 

-

 

Convertible Notes

 

 

-

 

 

 

-

 

 

 

10,566

 

 

 

-

 

Denominator for diluted EPS - Weighted average shares of common stock outstanding after the effect of dilutive securities

 

 

28,997

 

 

 

26,842

 

 

 

40,673

 

 

 

26,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share from:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.02

)

 

$

(0.28

)

 

$

0.74

 

 

$

(0.55

)

Discontinued operations

 

 

0.42

 

 

 

0.06

 

 

 

0.41

 

 

 

0.17

 

Basic net income (loss) per share

 

$

0.40

 

 

$

(0.22

)

 

$

1.15

 

 

$

(0.38

)

Diluted income (loss) per share from:

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(0.02

)

 

$

(0.28

)

 

$

0.56

 

 

$

(0.55

)

Discontinued operations

 

 

0.42

 

 

 

0.06

 

 

$

0.29

 

 

 

0.17

 

Diluted net income (loss) per share

 

$

0.40

 

 

$

(0.22

)

 

$

0.85

 

 

$

(0.38

)