For the twelve months ended June 30,

(in thousands except per share amounts)

2026

2025

Numerator:

Net (loss) income attributable to Great Elm Group, Inc. stockholders

$

(35,444

)

$

12,891

Effect of dilutive securities:

Interest expense associated with Convertible Notes

-

1,926

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

$

(35,444

)

$

14,817

Denominator:

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

30,289

27,642

Effect of dilutive securities:

Restricted stock

-

1,077

Convertible Notes

-

10,098

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

30,289

38,817

Net (loss) income attributable to stockholders per share

Basic

$

(1.17

)

$

0.47

Diluted

(1.17

)

0.38