Great Elm Capital Corp. (GECC) Income Statement
GECC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsGECC revenue and net income
Where GECC's revenue goes
2025Each bar shows an amount and its share of revenue. GECC kept −71.5% of revenue as net income.
GECC profit margins
GECC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +90.2% | — | — | +17.7% |
| Gross profit | +240.0% | — | — | — |
| Operating income | −460.4% | — | — | — |
| Net income | −994.7% | — | — | — |
| EPS (diluted) | −104.7% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
GECC quarterly EPS vs estimates
Great Elm Capital beat the analyst EPS estimate in 3 of the last 8 quarters. Next report: November 3, 2026 (estimate $0.21).
GECC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $44.5M | $23.4M | $41.9M | $0 | $0 | $0 | $0 | $0 | $668,000 | $4.9M |
| Cost of revenue | $10.5M | $13.4M | $10.1M | $2.0M | $1.9M | $1.4M | $833,000 | $1.2M | $1.0M | $0 |
| Gross profit | $34.0M | $10.0M | $31.8M | −$16.1M | −$6.6M | −$28.9M | −$4.8M | −$5.3M | $668,000 | $4.9M |
| Research & development | — | — | $1 | $0 | $1 | $3 | $0 | $0 | $0 | — |
| Sales, general & admin | $1.6M | $4.6M | $4.6M | $4.1M | $3.6M | $3.1M | $2.6M | $3.5M | $3.2M | $9.2M |
| Total operating expenses | $46.8M | $6.4M | $6.5M | −$744,000 | $3.6M | $3.1M | $2.6M | $3.5M | $3.3M | $0 |
| Operating income | −$12.8M | $3.6M | $25.3M | −$15.3M | −$10.2M | −$31.9M | −$7.3M | −$8.8M | −$2.6M | −$4.6M |
| Interest income | $31.0M | $31.5M | $27.2M | $18.7M | $19.9M | $19.2M | $24.2M | $27.3M | $28.9M | — |
| Interest expense | $18.4M | $14.9M | $10.1M | $10.7M | $10.4M | $9.1M | $7.6M | $5.6M | $2.0M | $0 |
| Income before taxes | −$31.2M | $3.6M | $25.6M | −$15.3M | −$10.2M | −$31.9M | −$7.3M | −$8.8M | −$2.6M | −$18.6M |
| Income taxes | $579,000 | $348,000 | $287,000 | $252,000 | $48,000 | $17,000 | $209,000 | $180,000 | $124,000 | −$1.2M |
| Net income | −$31.8M | $3.6M | $25.3M | −$15.6M | −$10.3M | −$32.0M | −$7.5M | −$9.0M | −$2.8M | −$15.2M |
| EBITDA | −$10.0M | $5.0M | $25.3M | −$116.7M | −$6.4M | −$31.9M | −$7.3M | −$8.5M | $77,000 | — |
| EPS (diluted) | −$0.06 | $1.28 | $1.64 | $1.98 | $2.90 | $3.60 | $6.24 | $8.46 | $7.28 | −$8.55 |
| Gross margin | 76.4% | 42.8% | 75.9% | — | — | — | — | — | 100.0% | 100.0% |
| Operating margin | −28.8% | 15.2% | 60.4% | — | — | — | — | — | −393.7% | −93.5% |
| Net margin | −71.5% | 15.2% | 60.4% | — | — | — | — | — | −412.3% | −308.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.8M | $2.2M | $0 | $0 | $17.4M | $6.0M | $7.6M | $8.9M | $3.3M | $3.5M | $8.4M | $12.3M |
| Cost of revenue | $1.5M | $3.8M | $3.8M | $4.1M | $3.9M | $3.8M | $3.9M | $3.8M | $3.1M | $2.5M | $2.5M | $2.7M |
| Gross profit | $12.3M | −$1.6M | −$19.9M | −$19.1M | $13.5M | $2.1M | $3.7M | $5.1M | $194,000 | $992,000 | $5.9M | $9.7M |
| Sales, general & admin | $472,000 | $1.4M | $1.3M | $1.2M | $1.2M | $1.2M | $1.1M | $1.2M | $1.2M | $1.2M | $1.1M | $1.2M |
| Total operating expenses | $1.9M | −$841,000 | $2.0M | $2.9M | $1.7M | $1.7M | $1.9M | $1.6M | $1.5M | $1.4M | $1.7M | $1.9M |
| Operating income | $10.4M | −$745,000 | −$22.0M | −$22.0M | $11.7M | $453,000 | $1.9M | $3.5M | −$1.3M | −$458,000 | $4.2M | $7.8M |
| Interest income | $6.2M | $6.7M | $7.5M | $7.6M | $8.0M | $8.0M | $8.1M | $8.1M | $7.8M | $7.6M | $7.6M | $7.6M |
| Interest expense | $3.9M | $3.8M | $3.8M | $4.1M | $3.9M | $3.8M | $5.4M | $3.8M | $3.1M | $2.5M | $2.5M | $2.7M |
| Income before taxes | $6.5M | −$745,000 | −$22.0M | −$22.0M | $11.7M | $453,000 | $1.9M | $3.5M | −$1.3M | −$453,000 | $4.4M | $7.8M |
| Income taxes | $83,000 | — | $205,000 | $238,000 | $68,000 | $68,000 | $268,000 | $75,000 | $6.5M | $5,000 | $220,000 | $39,000 |
| Net income | $6.4M | −$745,000 | −$22.0M | −$22.0M | $11.7M | $453,000 | $1.9M | $3.5M | −$1.3M | −$458,000 | $4.2M | $7.8M |
| EBITDA | $10.4M | −$276,000 | −$21.4M | −$22.0M | $12.2M | $871,000 | $1.9M | $3.5M | −$1.3M | −$458,000 | $4.2M | $7.8M |
| EPS (diluted) | $0.32 | −$0.05 | $0.31 | −$1.79 | $1.02 | $0.40 | $0.20 | $0.39 | $0.32 | $0.37 | $0.43 | $0.40 |
| Gross margin | 89.0% | −72.1% | — | — | 77.6% | 35.6% | 48.8% | 57.1% | 5.8% | 28.2% | 69.9% | 78.5% |
| Operating margin | 75.0% | −33.8% | — | — | 67.6% | 7.6% | 24.4% | 39.0% | −39.8% | −13.0% | 50.2% | 63.0% |
| Net margin | 46.4% | −33.8% | — | — | 67.6% | 7.6% | 24.4% | 39.0% | −39.8% | −13.0% | 50.2% | 63.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in GECC's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
GECC financial results
In fiscal year 2025 (ended December 31, 2025), Great Elm Capital reported revenue of $44.5 million, up 90.2% from the year before. It had a net loss of $31.8 million, a net profit margin of −71.5%. Diluted earnings per share came to −$0.06.
See the GECC stock overview for the latest quote and news, or the GECC chart for price history and technical indicators.
GECC income statement FAQ
What is Great Elm Capital's annual revenue?
Great Elm Capital reported total revenue of $44.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 90.2% from $23.4 million the previous year.
Is Great Elm Capital profitable?
No. Great Elm Capital reported a net loss of $31.8 million in fiscal 2025, a net profit margin of −71.5%; its operating margin was −28.8%.
What is Great Elm Capital's gross margin?
Great Elm Capital's gross margin was 76.4% in fiscal 2025: for every $100 of revenue, Great Elm Capital kept $76 after the direct cost of its products and services.
What are Great Elm Capital's earnings per share?
Great Elm Capital earned $-0.06 per diluted share in fiscal 2025, compared with $1.28 a year earlier.
When will Great Elm Capital report its next earnings?
Great Elm Capital is expected to report results for the quarter ending September 30, 2026 on November 3, 2026 after the market closes.
When does Great Elm Capital's fiscal year end?
Great Elm Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.