Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents	$ 53,470	$ 30,603
Investments, at fair value	55,445	60,614
Prepaid and other current assets	4,127	2,803
Real estate assets, net	4,543	9,085
Assets of Consolidated Funds - Cash and cash equivalents	5,038	3,907
Assets of Consolidated Funds - Investments, at fair value	11,865	14,327
Assets of Consolidated Funds - Other assets	167	227
Total current assets	139,590	137,897
Identifiable intangible assets, net	11,722	12,009
Goodwill	440	440
Right-of-use assets	1,514	1,603
Other assets	1,744	1,988
Total assets	155,010	153,937
Current liabilities:
Accrued expenses and other current liabilities	5,890	7,707
Current portion of lease liabilities	364	355
Liabilities of Consolidated Funds - Payable for securities purchased	565	96
Liabilities of Consolidated Funds- accrued expenses and other	111	172
Total current liabilities	8,370	9,614
Lease liabilities, net of current portion	1,166	1,260
Long-term debt (face value $26,945)	26,444	26,373
Convertible notes (face value $35,063 and $35,063, including $16,993 and $16,993 held by related parties, respectively)	34,626	34,602
Other liabilities	1,261	1,422
Total liabilities	71,867	73,271
Commitments and Contingencies (Note 16)
Stockholders' equity
Preferred stock, $0.001 par value; 5,000,000 authorized and zero outstanding
Common stock, $0.001 par value; 350,000,000 shares authorized and 33,348,987 shares issued and 32,084,664 outstanding at September 30, 2025; and 27,630,305 shares issued and 26,552,948 outstanding at June 30, 2025	30	25
Additional paid-in-capital	3,320,845	3,310,356
Accumulated deficit	(3,247,093)	(3,240,063)
Total Great Elm Group, Inc. stockholders' equity	73,782	70,318
Redeemable non-controlling interest in Consolidated Funds	9,361	10,348
Total stockholders' equity	83,143	80,666
Total liabilities and stockholders' equity	155,010	153,937
Nonrelated Party
Current liabilities:
Accounts payable	1,254	1,026
Related Party
Current assets:
Receivables from managed funds	4,935	8,331
Related party loan receivable	0	8,000
Current liabilities:
Accounts payable	$ 186	$ 258

Great Elm Group, Inc. 10-Q