Great Elm Capital Corp.
Business
Great Elm Capital Corp. is a closed-end, externally managed business development company regulated as a BDC and taxed as a regulated investment company. It invests in secured and senior secured debt of middle-market companies, income-generating equity in specialty finance companies, CLOs and warehouses, and direct or participation investments in factoring, equipment finance, and related origination platforms. The company operates through a joint venture, a specialty finance subsidiary, and a consumer packaged goods holding company, with investments distributed across middle-market companies.
Summary from 10-K filed 2026-03-02
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Total interest income | 31 | 32 | 29 | 19 | 20 | |
| Total dividend income | 17 | 7 | 3 | 4 | 4 | |
| Total other income | 2 | 157,000 | 371,000 | — | — | |
| Total investment income | 50 | 39 | 36 | — | — | |
| Management fees | 5 | 4 | 4 | 3 | 3 | |
| Incentive fees | 4 | 3 | 3 | — | — | |
| Administration fees | 2 | 1 | 2 | 938,000 | 673,000 | |
| Custody fees | 134,000 | 147,000 | 81,000 | 53,000 | 54,000 | |
| Directors fees | 213,000 | 211,000 | 205,000 | 215,000 | 233,000 | |
| Professional services | 2 | 2 | 2 | 2 | 2 | |
| Interest expense | 18 | 15 | 12 | 11 | 10 | |
| Other (income) expenses | 967,000 | 1 | 1 | — | — | |
| Total expenses | 32 | 27 | 23 | 19 | 13 | |
| Net investment income before taxes | 18 | 13 | 13 | 11 | 12 | |
| Excise tax | 579,000 | 348,000 | 287,000 | — | — | |
| Net investment income | 17 | 12 | 13 | — | — | |
| Total net realized gain (loss) | −6 | 2 | −5 | — | — | |
| Total net change in unrealized appreciation (depreciation) | −44 | −11 | 17 | 100 | −13 | |
| Net realized and unrealized gains (losses) | −49 | −9 | 13 | — | — | |
| Net increase (decrease) in net assets resulting from operations | −32 | 4 | 25 | −16 | −10 | |
| Earnings per share, basic | −2.57 | 0.36 | 3.33 | −2.49 | −2.52 | |
| Earnings per share,diluted | −2.57 | 0.36 | 3.33 | −2.49 | −2.52 | |
| Weighted average shares outstanding basic | 12 | 10 | 8 | 6 | 4 | |
| Weighted average shares outstanding diluted | 12 | 10 | 8 | 6 | 4 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Purchases of investments | −182 | −335 | −220 | −149 | −192 | |
| Net change in short-term investments | 5 | 2 | −4 | −6 | −6,000 | |
| Capitalized payment-in-kind interest | −3 | −3 | −3 | −1 | −7 | |
| Proceeds from sales of investments | 94 | 202 | 184 | 56 | 65 | |
| Proceeds from principal payments | 66 | 39 | 51 | 57 | 70 | |
| Net realized (gain) loss on investments | 5 | −2 | 5 | 126 | 10 | |
| Amortization of premium and accretion of discount, net | −3 | −2 | −2 | −1 | −4 | |
| Net realized loss on repurchase of debt | 222,000 | 3,000 | — | — | — | |
| Amortization of discount (premium) on long term debt | 3 | 1 | 2 | 1 | 1 | |
| (Increase) decrease in interest receivable | 1 | −1 | 985,000 | −1 | 612,000 | |
| (Increase) decrease in dividends receivable | −682,000 | 637,000 | 439,000 | 100,000 | −2 | |
| (Increase) decrease in due from portfolio company | 32,000 | 5,000 | −36,000 | 135,000 | 701,000 | |
| (Increase) decrease in due from affiliates | −58,000 | −160,000 | — | 17,000 | −17,000 | |
| (Increase) decrease in prepaid expenses and other assets | −799,000 | −19,000 | 3 | −3 | −60,000 | |
| Increase (decrease) in due to affiliates | 645,000 | 471,000 | 1 | −4 | −4 | |
| Increase (decrease) in interest payable | 32,000 | — | −10,000 | 13,000 | −299,000 | |
| Increase (decrease) in accrued expenses and other liabilities | −268,000 | 193,000 | 647,000 | 190,000 | −72,000 | |
| Net cash provided by (used for) operating activities | −3 | −83 | 26 | −42 | −58 | |
| Issuance of notes payable | 58 | 98 | 38 | — | 55 | |
| Repayment of notes payable | −59 | −46 | −43 | — | −30 | |
| Borrowings under credit facility | 34 | 5 | 2 | — | — | |
| Repayments under credit facility | −34 | −5 | −12 | — | −10 | |
| Proceeds from issuance of common stock, net of issuance costs | 27 | 49 | — | 38 | — | |
| Payments of deferred financing costs | −2 | −4 | −259,000 | −1 | −550,000 | |
| Distributions paid | −19 | −15 | −11 | −13 | −10 | |
| Net cash provided by (used for) financing activities | 5 | 82 | −25 | 33 | 14 | |
| Net increase (decrease) in cash | 2 | −953,000 | 366,000 | −9 | −44 | |
| Cash paid for interest | 16 | 13 | 10 | 9 | 9 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is Great Elm Capital Corp.'s CIK number?
Great Elm Capital Corp.'s SEC CIK number is 0001675033 (1675033). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Great Elm Capital Corp.'s SEC filings?
All of Great Elm Capital Corp.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did Great Elm Capital Corp. last report earnings?
Great Elm Capital Corp. (GECCO) most recently filed an earnings 8-K with the SEC on May 4, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-204241). This is Great Elm Capital Corp.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is Great Elm Capital Corp.'s most recent earnings 8-K?
Great Elm Capital Corp.'s latest earnings 8-K (Item 2.02) was filed May 4, 2026 under accession 0001193125-26-204241. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View Great Elm Capital Corp.'s latest earnings 8-K →
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