Summary of Significant Accounting Policies (Tables)

3 Months Ended

Sep. 30, 2021

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

	For the three months ended September 30,
(in thousands except per share amounts)	2021			2020


Income (loss) from continuing operations	$	106		$	(3,768	)
Income from discontinued operations, net of tax		-			67
Net income (loss)	$	106		$	(3,701	)
Less: net income (loss) attributable to non-controlling interest, continuing operations		306			(120	)
Less: net income attributable to non-controlling interest, discontinued operations		-			13
Net loss attributable to Great Elm Group, Inc.	$	(200	)	$	(3,594	)
Weighted average shares basic and diluted:
Weighted average shares of common stock outstanding		25,982			25,576
Weighted average shares used in computing income (loss) per share		25,982			25,576
Basic and diluted income (loss) per share from:
Loss from continuing operations	$	(0.01	)	$	(0.14	)
Income from discontinued operations		-			0.00
Net loss	$	(0.01	)	$	(0.14	)

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 September 30,
	2021	2020⁽¹⁾
Government Payor	37%	37%
Third-party Payor	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
	September 30, 2021	June 30, 2021
Government Payor	27%	30%
Third-party Payor	16%	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:

Condensed consolidated balance sheet
	June 30, 2021 As reported			ASU 2020-06 Adjustment			June 30, 2021 As adjusted
Liabilities
Convertible notes	$	22,054		$	11,279		$	33,333
Other liabilities		1,070			(155	)		915
Stockholders' equity
Additional paid-in-capital		3,319,767			(12,154	)		3,307,613
Accumulated deficit		(3,265,433	)		1,030			(3,264,403	)

Condensed consolidated statement of operations	For the three months ended
	September 30, 2020 As reported⁽¹⁾			ASU 2020-06 Adjustment			September 30, 2020 As adjusted
Non-operating expenses
Interest expense	$	(1,307	)	$	162		$	(1,145	)
Net loss
Net loss		(3,863	)		162			(3,701	)
Net loss per share (basic and diluted)		(0.15	)		0.01			(0.14	)

(1)

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