Great Elm (GEG) 10-Q 14 May 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2021	May 09, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	Great Elm Group, Inc.
Entity Central Index Key	0001831096
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		26,600,278
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-39832
Entity Tax Identification Number	85-3622015
Entity Address, Address Line One	800 South Street
Entity Address, Address Line Two	Suite 230
Entity Address, City or Town	Waltham
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02453
City Area Code	617
Local Phone Number	375-3006
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Title of each class	Common Stock, par value $0.001 per share
Trading Symbol	GEG
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 24,321	$ 40,519
Restricted cash	984	846
Accounts receivable	7,172	7,991
Related party receivables	1,477	1,059
Investments, at fair value	18,835	8,705
Inventories	1,187	1,470
Prepaid and other current assets	3,589	738
Total current assets	83,284	61,328
Real estate assets, net	52,271	53,188
Property and equipment, net	941	1,410
Equipment held for rental, net	7,148	7,483
Identifiable intangible assets, net	13,854	15,129
Goodwill	50,658	50,010
Right of use assets	5,276	5,392
Other assets	1,825	1,505
Total assets	215,257	195,445
Current liabilities:
Accounts payable	5,780	5,007
Accrued expenses and other liabilities	5,619	3,565
Deferred revenue	5,374	5,652
Current portion of lease liabilities	1,828	1,617
Current portion of long term debt	2,460	6,221
Current portion of related party notes payable		1,418
Current portion of equipment financing debt	2,155	2,034
Due to broker and other liabilities	12,248
Total current liabilities	35,464	25,514
Lease liabilities, net of current portion	3,720	4,060
Long term debt, net of current portion	51,541	52,781
Related party notes payable, net of current portion		26,485
Convertible notes (face value $33,530 and $30,521, respectively, including $15,857 and $13,277, respectively, held by related parties)	21,036	17,444
Equipment financing debt, net of current portion	83	196
Redeemable preferred stock of subsidiaries (held by related parties, face value $37,018)	35,474
Other liabilities	1,020	395
Total liabilities	148,338	126,875
Commitments and Contingencies (Note 18)
Contingently redeemable non-controlling interest	2,055	3,890
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 26,495,976 shares issued and 25,837,000 outstanding at March 31, 2021; and 26,217,380 shares issued and 25,529,534 outstanding at June 30, 2020	26	26
Additional paid-in-capital	3,319,516	3,318,117
Accumulated deficit	(3,264,214)	(3,257,349)
Total Great Elm Group, Inc. stockholders' equity	55,328	60,794
Non-controlling interests	9,536	3,886
Total stockholders' equity	64,864	64,680
Total liabilities, non-controlling interest and stockholders' equity	215,257	$ 195,445
Consolidated Funds
Current assets:
Investments, at fair value	25,625
Prepaid expenses	$ 94

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Investments, cost basis	$ 40,726	$ 30,279
Convertible notes payable to related party non-current	15,857	13,277
Convertible notes, face value	33,530	$ 30,521
Redeemable preferred stock held by related parties	$ 37,018
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	26,495,976	26,217,380
Common stock, shares outstanding	25,837,000	25,529,534
Consolidated Funds
Investments, cost basis	$ 25,661

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Rental income	$ 5,787	$ 6,474	$ 18,731	$ 19,848
Revenue	15,121	16,236	48,355	48,158
Operating costs and expenses:
Durable medical equipment other operating expenses	6,084	8,079	21,834	22,607
Depreciation and amortization	1,048	1,053	3,090	3,250
Selling, general and administrative	1,854	1,801	4,582	4,935
Total operating costs and expenses	15,500	17,245	50,368	50,311
Operating loss	(379)	(1,009)	(2,013)	(2,153)
Dividends and interest income	554	491	2,408	1,608
Net realized and unrealized loss on investment in GECC	(1,112)	(9,794)	(454)	(11,603)
Interest expense	(2,179)	(1,754)	(6,047)	(5,083)
Loss on extinguishment of debt			(1,866)
Other income, net			30	3
Loss, before income taxes	(2,961)	(12,066)	(7,721)	(17,228)
Income tax benefit (expense)	43	148	(6)	5
Net loss	(2,918)	(11,918)	(7,727)	(17,223)
Less: net loss attributable to non-controlling interest	(158)	(301)	(862)	(676)
Net loss attributable to Great Elm Group, Inc.	$ (2,760)	$ (11,617)	$ (6,865)	$ (16,547)
Net loss attributable to shareholders per share
Basic	$ (0.11)	$ (0.46)	$ (0.27)	$ (0.65)
Diluted	$ (0.11)	$ (0.46)	$ (0.27)	$ (0.65)
Weighted average shares outstanding
Basic	25,757	25,430	25,669	25,401
Diluted	25,757	25,430	25,669	25,401
Consolidated Funds
Operating costs and expenses:
Expenses of consolidated funds	$ 19		$ 27
Net realized and unrealized gain on investments of consolidated funds	155		221
Durable Medical Equipment | Sales and Services
Revenues:
Revenue from contract with customer	8,606	$ 8,933	27,363	$ 25,725
Operating costs and expenses:
Total operating costs and expenses	3,806	3,966	12,716	11,118
Durable Medical Equipment | Rental
Revenues:
Rental income	4,511	5,198	14,907	16,028
Operating costs and expenses:
Total operating costs and expenses	1,657	2,072	5,193	6,522
Investment Management
Revenues:
Revenue from contract with customer	728	829	2,261	2,585
Operating costs and expenses:
Total operating costs and expenses	904	149	2,546	1,504
Real Estate
Operating costs and expenses:
Total operating costs and expenses	128	125	380	375
Real Estate | Rental
Revenues:
Rental income	$ 1,276	$ 1,276	$ 3,824	$ 3,820

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Depreciation expense	$ 1,988	$ 2,360	$ 6,137	$ 7,328
Net of CARES Act Stimulus	2,275		2,275
Durable Medical Equipment | Rental
Depreciation expense	$ 1,478	$ 1,882	$ 4,683	$ 5,895

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity and Contingently Redeemable Non-controlling Interest (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total Great Elm Group Inc. Stockholders' Equity	Non-controlling Interest
Beginning balance at Jun. 30, 2019	$ 65,082	$ 25	$ 3,305,415	$ (3,244,374)	$ 61,066	$ 4,016
Beginning balance (in shares) at Jun. 30, 2019		25,353,000
Beginning balance, Contingently redeemable non-controlling interest at Jun. 30, 2019	3,912
Net loss	(3,198)			(3,089)	(3,089)	(109)
Net loss, Contingently redeemable non-controlling interest	(80)
Issuance of common stock related to vesting of restricted stock	0	$ 0	0		0
Issuance of common stock related to vesting of restricted stock (in shares)		30,000
Stock-based compensation	293		293		293
Ending balance at Sep. 30, 2019	62,177	$ 25	3,305,708	(3,247,463)	58,270	3,907
Ending balance (in shares) at Sep. 30, 2019		25,383,000
Ending balance, Contingently redeemable non-controlling interest at Sep. 30, 2019	3,832
Net loss	(1,949)			(1,841)	(1,841)	(108)
Net loss, Contingently redeemable non-controlling interest	(78)
Issuance of common stock related to vesting of restricted stock	0	$ 0	0		0
Issuance of common stock related to vesting of restricted stock (in shares)		29,000
Stock-based compensation	208		208		208
Ending balance at Dec. 31, 2019	60,436	$ 25	3,305,916	(3,249,304)	56,637	3,799
Ending balance (in shares) at Dec. 31, 2019		25,412,000
Ending balance, Contingently redeemable non-controlling interest at Dec. 31, 2019	3,754
Net loss	(11,779)			(11,617)	(11,617)	(162)
Net loss, Contingently redeemable non-controlling interest	(139)
Issuance of common stock related to vesting of restricted stock (in shares)		28,000
Stock-based compensation	(267)		(267)		(267)
Issuance of convertible notes	12,224		12,224		12,224
Ending balance at Mar. 31, 2020	60,614	$ 25	3,317,873	(3,260,921)	56,977	3,637
Ending balance (in shares) at Mar. 31, 2020		25,439,000
Ending balance, Contingently redeemable non-controlling interest at Mar. 31, 2020	3,615
Beginning balance at Jun. 30, 2020	$ 64,680	$ 26	3,318,117	(3,257,349)	60,794	3,886
Beginning balance (in shares) at Jun. 30, 2020	25,529,534	25,530,000
Beginning balance, Contingently redeemable non-controlling interest at Jun. 30, 2020	$ 3,890
Net loss	(3,817)			(3,756)	(3,756)	(61)
Net loss, Contingently redeemable non-controlling interest	(46)
Issuance of common stock related to vesting of restricted stock		$ 0
Issuance of common stock related to vesting of restricted stock (in shares)		116,000
Stock-based compensation	429		429		429
Ending balance at Sep. 30, 2020	61,292	$ 26	3,318,546	(3,261,105)	57,467	3,825
Ending balance (in shares) at Sep. 30, 2020		25,646,000
Ending balance, Contingently redeemable non-controlling interest at Sep. 30, 2020	3,844
Beginning balance at Jun. 30, 2020	$ 64,680	$ 26	3,318,117	(3,257,349)	60,794	3,886
Beginning balance (in shares) at Jun. 30, 2020	25,529,534	25,530,000
Beginning balance, Contingently redeemable non-controlling interest at Jun. 30, 2020	$ 3,890
Repurchase of interests in subsidiary	68
Ending balance at Mar. 31, 2021	$ 64,864	$ 26	3,319,516	(3,264,214)	55,328	9,536
Ending balance (in shares) at Mar. 31, 2021	25,837,000	25,837,000
Ending balance, Contingently redeemable non-controlling interest at Mar. 31, 2021	$ 2,055
Beginning balance at Sep. 30, 2020	61,292	$ 26	3,318,546	(3,261,105)	57,467	3,825
Beginning balance (in shares) at Sep. 30, 2020		25,646,000
Beginning balance, Contingently redeemable non-controlling interest at Sep. 30, 2020	3,844
Net loss	(654)			(349)	(349)	(305)
Net loss, Contingently redeemable non-controlling interest	(292)
Issuance of common stock related to vesting of restricted stock		$ 0
Issuance of common stock related to vesting of restricted stock (in shares)		45,000
Distributions to non-controlling interest holders of DME Inc.	(985)					(985)
Distributions to non-controlling interest holders of DME Inc., Contingently redeemable non-controlling interest	(985)
Issuance of Forest common stock	2,700					2,700
Stock-based compensation	285		285		285
Ending balance at Dec. 31, 2020	62,638	$ 26	3,318,831	(3,261,454)	57,403	5,235
Ending balance (in shares) at Dec. 31, 2020		25,691,000
Ending balance, Contingently redeemable non-controlling interest at Dec. 31, 2020	2,567
Net loss	(2,409)			(2,760)	(2,760)	351
Net loss, Contingently redeemable non-controlling interest	(509)
Issuance of common stock related to vesting of restricted stock	0	$ 0			0
Issuance of common stock related to vesting of restricted stock (in shares)		146,000
Non-cash distributions to non-controlling interest holders of DME, Inc.	(3)					(3)
Non-cash distributions to non-controlling interest holders of DME, Inc. Contingently redeemable to noncontrolling interest	(3)
Deemed capital contribution related to issuance of convertible notes	602		602		602
Repurchase of interests in subsidiary	145		(533)		(533)	678
Issuance of LP interests in Consolidated Fund	3,275					3,275
Stock-based compensation	616		616		616
Ending balance at Mar. 31, 2021	$ 64,864	$ 26	$ 3,319,516	$ (3,264,214)	$ 55,328	$ 9,536
Ending balance (in shares) at Mar. 31, 2021	25,837,000	25,837,000
Ending balance, Contingently redeemable non-controlling interest at Mar. 31, 2021	$ 2,055

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		9 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net loss		$ (7,727)	$ (17,223)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization		7,773	9,144
Stock-based compensation	[1]	1,330	234
Sales of investments by consolidated funds		4,130
Purchases of investments by consolidated funds		(29,364)
Stock dividends received from GECC		(1,868)
Unrealized loss on investments		490	11,603
Realized gain on investments		(257)
Non-cash interest and amortization of debt issuance costs		2,099	722
Loss on extinguishment of debt		1,866
Deferred tax benefit		(3)	(116)
Other non-cash expense, net		1,188	1,070
Gain on sale of equipment held for rental		(292)	(612)
Change in fair value of contingent consideration			(1,135)
Changes in operating assets and liabilities:
Related party receivable		(418)	250
Accounts receivable		1,445	310
Inventories		496	(414)
Prepaid assets, deposits, and other assets		(2,933)	(821)
Operating leases		(1,201)	(1,071)
Related party payable			(805)
Deferred revenues		(278)
Accounts payable, accrued liabilities and other liabilities		2,360	3,448
Net cash provided by (used in) operating activities		(21,164)	4,584
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired		(748)
Purchases of investments		(75)
Sales of investments		35
Participation in related party rights offering		(8,751)
Purchases of equipment held for rental		(4,613)	(5,384)
Proceeds from sale of equipment held for rental		862	1,394
Purchases of property and equipment		(71)	(591)
Proceeds from sale of property and equipment			37
Net cash used in investing activities		(13,361)	(4,544)
Cash flows from financing activities:
Proceeds on revolving line of credit			2,550
Principal payments on revolving line of credit		(3,900)	(2,050)
Principal payments on long term debt		(1,723)	(1,598)
Principal payments on related party notes payable		(25,105)	(2,123)
Principal payments on equipment financing debt		(3,440)	(2,065)
Proceeds from equipment financing debt		2,901	2,338
Capitalized issuance costs		(1,250)	(392)
Due to broker of consolidated funds		12,060
Repurchases of interests in subsidiary		(68)
Proceeds from convertible notes			30,000
Payments of debt extinguishment costs		(1,627)
Capital contributions from non-controlling interests in consolidated funds		3,275
Net cash provided by financing activities		18,465	26,660
Net increase (decrease) in cash, cash equivalents and restricted cash		(16,060)	26,700
Cash, cash equivalents and restricted cash at beginning of period		41,365	12,830
Cash, cash equivalents and restricted cash at end of period		25,305	39,530
Cash paid for interest		2,231	4,585
Non-cash investing and financing activities
Lease liabilities and right of use assets arising from operating leases		426	$ 607
Contingent consideration		397
Distribution of HC LLC (as defined below) preferred stock to non-controlling interest holders of DME Inc.		1,608
Repurchase of GP Corp. Note		3,072
Issuance of convertible notes		2,250
DME, Inc.
Cash flows from financing activities:
Dividends paid to non-controlling interest holders of DME Inc.		(368)
Forest Investments, Inc. (Forest)
Cash flows from financing activities:
Issuance of Forest preferred stock		35,010
Proceeds from sale of Forest common stock, gross		$ 2,700
[1]	Stock-based compensation attributable to the investment management segment is included in investment management expenses in the condensed consolidated statements of operations. Stock-based compensation attributable to the general corporate segment is included in selling, general and administrative expense in the condensed consolidated statements of operations.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Statement Of Cash Flows [Abstract]
Cash and cash equivalents	$ 24,321	$ 40,519
Restricted cash	984	846
Cash, cash equivalents and restricted cash	$ 25,305	$ 41,365	$ 39,530	$ 12,830

Organization

Organization	9 Months Ended
	Mar. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1. Organization Great Elm Group, Inc. (the Company On December 29, 2020, the Company completed a reorganization of the Company's corporate structure, where Great Elm Capital Group, Inc. ( GEC Forest Exchange Act The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. Wholly-owned subsidiaries include Great Elm Capital Management, Inc. ( GECM DME Manager CRIC IT DME Inc. HC LLC I, LP Series C and GESOF

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in the Company’s Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations. The condensed consolidated balance sheet as of June 30, 2020, presented herein, has been derived from the Company’s audited consolidated financial statements as of and for the year-ended June 30, 2020. Use of Estimates The preparation of these financial statements in accordance with accounting principles generally accepted in the United States of America ( GAAP Principles of Consolidation The Company consolidates the assets, liabilities, and operating results of its wholly-owned subsidiaries; majority-owned subsidiaries; and subsidiaries in which we hold a controlling financial interest as of the financial statement date. In most cases, a controlling financial interest reflects ownership of a majority of the voting interests. We consolidate a variable interest entity ( VIE All intercompany accounts and transactions have been eliminated in consolidation. Non-controlling interests in the Company’s subsidiaries are reported as a component of liabilities for mandatorily redeemable interests, temporary equity for contingently redeemable interests or permanent equity, separate from the Company’s equity. See Note 15 – Non-Controlling Interests and Preferred Stock of Subsidiaries. Results of operations attributable to the non-controlling interests are included in the Company’s condensed consolidated statements of operations. Segments The Company has three business operating segments: durable medical equipment, investment management and real estate, with general corporate representing unallocated costs and activity to arrive at consolidated operations. The Company regularly reviews each segment for purposes of allocating resources and assessing performance. Accounts Receivable Substantially all of the accounts receivable balance relates to the durable medical equipment business. Accounts receivable are customer obligations due under normal sales and rental terms and represent the amount estimated to be collected from the customers and, if applicable, the third-party private insurance provider or government program (collectively, Payors The assessment of variable consideration to be constrained is based on estimates, and ultimate losses may vary from current estimates. As adjustments to these estimates become necessary, they are reported in earnings in the periods in which they become known. There were no material adjustments to revenues made in the nine months ended March 31, 2021 relating to prior periods. Changes in constraints on variable consideration are recorded as a component of net revenues. The Company generally does not allow returns from customers for reasons not covered under the manufacturer’s standard warranty. Therefore, there is no provision for sales return reserves. The Company does not have significant bad debt experience with Payors, and therefore the allowance for doubtful accounts is immaterial. As of March 31, 2021 and June 30, 2020, the Company had unbilled receivables of approximately $1.4 million and $1.9 million, respectively, that relate to transactions where the Company has the ultimate right to invoice a Payor under the terms of the arrangement but are not currently billed. Previously disclosed unbilled amounts have been updated to reflect current presentation. These unbilled amounts are included in accounts receivable in the condensed consolidated balance sheets. Net Income (Loss) per Share The following table presents the calculation of basic and diluted earnings (loss) per share: For the three months ended March 31, For the nine months ended March 31, (in thousands except per share amounts) 2021 2020 2021 2020 Net loss $ (2,918 ) $ (11,918 ) $ (7,727 ) $ (17,223 ) Less: net loss attributable to non-controlling interest (158 ) (301 ) (862 ) (676 ) Net loss attributable to Great Elm Group, Inc. $ (2,760 ) $ (11,617 ) $ (6,865 ) $ (16,547 ) Net loss attributable to shareholders per share Basic $ (0.11 ) $ (0.46 ) $ (0.27 ) $ (0.65 ) Diluted $ (0.11 ) $ (0.46 ) $ (0.27 ) $ (0.65 ) Weighted average shares outstanding Basic 25,757 25,430 25,669 25,401 Diluted 25,757 25,430 25,669 25,401 When calculating earnings per share, we are required to adjust for the dilutive effect of common stock equivalents. As of March 31, 2021, the Company had 13,088,564 potential shares of common stock, including 9,656,616 potential shares of Company common stock issuable upon conversion of Convertible Notes (as defined in Note 13 – Convertible Notes) and 3,431,948 potential shares issuable upon the exercise of stock options and vesting of restricted stock units and restricted stock awards that are not included in the diluted net loss per share calculations because to do so would be antidilutive. As of March 31, 2020, the Company had 3,459,602 potential shares of Company common stock issuable upon exercise of the stock options and vesting of restricted stock units and restricted stock awards that are not included in the diluted net loss per share calculations because to do so would be antidilutive. As of March 31, 2021 and 2020, the Company had an aggregate of 732,909 issued shares that are subject to forfeiture by the employee at a nominal price if service and performance milestones are not met. The Company does not account for such shares as being outstanding for accounting purposes since they are unvested and subject to forfeiture. Restrictions on Subsidiary Dividends Under the Senior Note (as defined below) and Subordinated Note (as defined below), CRIC IT Fort Myers, LLC is restricted from paying any dividends until the Notes are satisfied. The ability of DME Inc. to pay dividends is subject to compliance with the restricted payment covenants under the DME Revolver (as defined below). Concentration of Risk The Company’s net investment revenue and receivables for the periods presented were primarily attributable to the management of one investment vehicle, GECC, which is also a related party. See Note 6 – Related Party Transactions. The Company’s real estate rental revenue is derived from one tenant. 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 March 31, For the nine months ended March 31, 2021 2020 2021 2020 Government Payor A 29% 28% 33% 28% Government Payor B * * * * Third-party Payor C 10% * 11% 10% * Not a significant concentration. The following table summarizes customer concentrations as a percentage of accounts receivable: As of March 31, 2021 June 30, 2020 Government Payor A 22% 20% Government Payor B * 11% Third-party Payor C 13% 11% * Not a significant concentration Recently Adopted Accounting Standards Fair Value Measurements In August 2018, the FASB issued Accounting Standards Update ( ASU ) 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement , resulting in various disclosures related to fair value measurements being eliminated, modified or supplemented. ASU 2018-13 is effective for interim and annual periods beginning after December 15, 2019, with an option to early adopt any eliminated or modified disclosures, and to delay adoption of the additional disclosures, until the effective date. The Company early adopted the eliminated and modified disclosures of ASU 2018-13 during the three months ended September 30, 2018 and, as a result, updated its financial statement disclosures accordingly. A modified narrative description of measurement uncertainty for level 3 fair value measurements was applied prospectively, with all other amendments applied retrospectively. The Company has adopted the supplemental disclosures as of July 1, 2020. Recently Issued Accounting Standards Current Expected Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) , which changes the impairment model for financial instruments, including trade receivables from an incurred loss method to a new forward looking approach, based on expected losses. The estimate of expected credit losses will require entities to incorporate considerations of historical experience, current information and reasonable and supportable forecasts. The amendments in this ASU are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is evaluating the potential impact that the adoption of this ASU will have on its consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04 , Reference Rate Reform (Topic 848): facilitation of the Effects of Reference Rate Reform on Financial Reporting, in response to the United Kingdom Financial Conduct Authority which announced the desire to phase out the use of the London Interbank Offered Rate ( LIBOR ) by the end of 2021. The provisions provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform on financial reporting due to the cessation of LIBOR if certain criteria are met. If LIBOR ceases to exist, we may need to renegotiate outstanding notes payable outstanding which extend beyond 2021 with the respective counterparties. Adoption of the provisions in ASU 2020-04 are optional and effective from March 12, 2020 through December 31, 2022. We are currently evaluating the impact of this ASU on our financial statements. Accounting for Convertible Instruments In August 2020, the FASB issued ASU 2020-06 , Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for convertible instruments by eliminating certain separation models. Under ASU 2020-06, a convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. Consequently, the interest rate of convertible debt instruments will be closer to the coupon interest rate. In addition, ASU 2020-06 eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. The guidance in this ASU are effective for fiscal years beginning after December 31, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.

Revenue

Revenue	9 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue The revenues from each major source of revenue are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Product and Services Revenue Investment Management Management Fees $ 613 $ 683 $ 1,823 $ 2,201 Administration Fees 115 146 438 384 728 829 2,261 2,585 Durable Medical Equipment Equipment Sales 7,309 7,549 23,728 21,497 Service Revenues 1,297 1,384 3,635 4,228 8,606 8,933 27,363 25,725 Total product and services revenue $ 9,334 $ 9,762 $ 29,624 $ 28,310 Rental Revenues Real Estate Rental Income 1,276 1,276 3,824 3,820 Durable Medical Equipment Medical Equipment Rental Income 4,511 5,198 14,907 16,028 Total rental revenue 5,787 6,474 18,731 19,848 Total $ 15,121 $ 16,236 $ 48,355 $ 48,158 Revenue Accounting Under Topic 606 In determining the appropriate amount of revenue to be recognized under FASB Accounting Standards Codification Topic 606, Revenues Topic 606 Durable Medical Equipment Revenue Equipment Sales and Services Revenues The Company sells durable medical equipment, replacement parts and supplies to customers and recognizes revenue at the point control is transferred through delivery to the customer. Each piece of equipment, part or supply is distinct and separately priced thus they each represent a single performance obligation. The revenue is allocated amongst the performance obligations based upon the relative standalone selling price method, however, items are typically all delivered or supplied together. The customer and, if applicable, the Payors are generally charged at the time that the product is sold, although separate layers of insurance coverage may need to be invoiced before final billings may occur. The Company also provides sleep study services to customers and recognizes revenue when the results of the sleep study are complete as that is when the performance obligation is met. The transaction price on both equipment sales and sleep studies is the amount that the Company expects to receive in exchange for the goods and services provided. Due to the nature of the durable medical equipment business, billing adjustments customarily occur during the collections process when explanations of benefits are received by Payors, and as amounts are deferred to secondary Payors or to patient responsibility. As such, we constrain the transaction price for the difference between the gross charge and what we believe we will collect from Payors and from patients. The transaction price therefore is predominantly based on contractual payment rates determined by the Payors. The Company does not generally contract with uninsured customers. We determine our estimates of billing adjustments based upon contractual agreements, our policies and historical experience. While the rates are fixed for the product or service with the customer and the Payors, such amounts typically include co-payments, co-insurance and deductibles, which vary in amounts, from the patient customer. The Company includes in the transaction price only the amount that the Company expects to be entitled, which is substantially all of the Payor billings at contractual rates. The transaction price is initially constrained by the amount of customer co-payments we estimate will not be collected. Due to the nature of the industry and the reimbursement environment in which the Company operates, certain estimates are required to record net revenue and accounts receivable. Inherent in these estimates is the risk that they will have to be revised or updated as additional information becomes available. Specifically, the complexity of many third-party billing arrangements and the uncertainty of reimbursement amounts for certain services from certain Payors may result in adjustments to amounts originally recorded. Such adjustments are typically identified and recorded at the point of cash application or claim denial. The Company constrains revenue for these estimated adjustments. There were no material changes in estimates recorded in the nine months ended March 31, 2021, relating to prior periods. The payment terms and conditions of customer contracts vary by customer type and the products and services offered. The Company may provide shipping services prior to the point of delivery and has concluded that the services represent a fulfilment activity and not a performance obligation. Returns and refunds are not accepted on either equipment sales or sleep study services. The Company does not offer warranties to customers in excess of the manufacturer’s warranty. Any taxes due upon sale of the products or services are not recognized as revenue. The Company does not incur contract acquisition costs. The Company does not have any partially or unfilled performance obligations related to contracts with customers. However, during the quarter ended June 30, 2020, the Company applied for and received $4.4 million in advanced payments from the Centers for Medicare and Medicaid Services under their Accelerated and Advance Payment Program, which was expanded to increase cash flow to providers of services and suppliers impacted by the COVID-19 pandemic. These advance payments will begin to be recouped against the Company’s future Medicare and Medicaid claims beginning in the fourth quarter of our fiscal year 2021. These amounts are included within deferred revenue on the condensed consolidated balance sheet. The Company has no other contract liabilities as of March 31, 2021 or December 31, 2020. Included in sales and services revenue are unbilled amounts for which the revenue recognition criteria had been met as of period end but were not yet billed to the Payor. The estimate of net unbilled rental revenue recognized is based on historical trends and estimates of future collectability. As of March 31, 2021 and June 30, 2020, net unbilled sales and services revenue is approximately and $1.2 million, respectively, and is included in accounts receivable. Investment Management Revenue The Company recognizes revenue from its investment management business at amounts that reflect the consideration to which it expects to be entitled in exchange for providing services to its customer. Investment management revenue primarily consists of fees based on a percentage of assets under management; fees based on the performance of managed assets; and administrative fees. Fees are based on agreements with each investment product and may be terminated at any time by either party subject to the specific terms of each respective agreement. Management Fees The Company earns management fees based on the investment management agreements GECM has with GECC and other private funds managed by GECM (collectively, the “Funds”). The performance obligation is satisfied over time as the services are rendered, since the Funds simultaneously receive and consume the benefits provided as GECM performs services. Management fee rates range from 1% to 1.5% of the management fee assets specified with each agreement. Based on the terms of the specific agreement, management fees may be calculated and billed in advance or in arrears of the period, no less frequently than quarterly. Management fee revenue is recognized over time as the services are provided. Incentive Fees The Company earns incentive fees based on the investment management agreements GECM has with GECC and separately managed accounts. Where an investment management agreement includes both management fees and incentive fees, the performance obligation is considered to be a single obligation for both fees. Incentive fees are variable consideration associated with the GECC investment management agreement. Incentive fees are recognized based on investment performance during the period, subject to the achievement of minimum return levels or high-water marks, in accordance with the terms of the respective investment management agreements. Incentive fees range from 5.0% to 20.0% of the performance-based metric specified within each agreement. Because of the uncertainty of when incentive fees will be collected due to market conditions and investment performance, incentive fees are fully constrained and not recorded until received and the probability of significant reversal of the fees is eliminated Administration Fees The Company earns administration fees based on the administration agreement GECM has with GECC whereby GECC reimburses GECM for costs incurred in performing administrative functions for GECC. This revenue is recognized over time as the services are performed. Administrative fees are billed quarterly in arrears, which is consistent with the timing of the delivery of services and reflect agreed upon rates for the services provided. The services are accounted for as a single performance obligation that is a series of distinct services with substantially the same pattern of transfer as the services are provided on a daily basis. Revenue Accounting Under Topic 842 Durable Medical Equipment Revenue Equipment Rental Revenue Under FASB Accounting Standards Codification Topic 842, Leases Topic 842 Certain customer co-payments are included in revenue when considered probable of payment. The lease term begins on the date products are delivered to patients and are recorded at amounts estimated to be received under reimbursement arrangements with third-party payors, including Medicare, private payors, and Medicaid. Due to the nature of the industry and the reimbursement environment in which the Company operates, certain estimates are required to record net revenue and accounts receivable at their net realizable values. Inherent in these estimates is the risk that they will have to be revised or updated as additional information becomes available. Specifically, the complexity of many third-party billing arrangements and the uncertainty of reimbursement amounts for certain services from certain Payors may result in adjustments to amounts originally recorded. Such adjustments are typically identified and recorded at the point of cash application or claim denial. There were no material changes in estimates recorded in the nine months ended March 31, 2021, relating to prior periods. Although invoicing typically occurs at the beginning of the monthly rental period, we recognize revenue from rentals on a daily basis. Since rental agreements can commence at any time during a given month, we defer revenue related to the remaining monthly rental period as of period end. Deferred revenue related to rentals was $1.0 million and $1.3 million as of March 31, 2021 and June 30, 2020, respectively. Included in rental revenue are unbilled amounts for which the revenue recognition criteria had been met as of period end but were not yet billed to the Payor. Net unbilled rental revenue is recognized to the extent payment is probable. As of March 31, 2021 and June 30, 2020, net unbilled rental revenue is approximately $0.5 million and $0.7 million, respectively, and is included in accounts receivable. Real Estate Revenue Rental Revenue Consistent with the leases of durable medical equipment, the Company recognizes rental revenue on a straight-line basis over the non-cancelable term of the lease. Under the terms of the lease, the Company may recover from the tenant certain expenses, including: real estate taxes, insurance and other operating expenses. The recovery of these expenses is recognized in rental income in the accompanying condensed consolidated statements of operations, in the same periods as the expenses are incurred. These expenses recognized in both revenue and expense may fluctuate from period to period based on actual expense amounts.

Acquisitions

Acquisitions	9 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
Acquisitions	4. Acquisitions Acquisition of Advanced Medical DME, LLC and PM Sleep Lab, LLC On March 1, 2021, through its majority-owned subsidiary, DME Inc., the Company acquired Advanced Medical DME, LLC and PM Sleep Lab, LLC ( AMPM PAP The purchase consideration was $1.1 million, comprised of $0.4 million paid upon closing net of cash acquired, $0.3 placed in escrow for potential satisfaction of certain indemnification obligations, and $0.4 million representing the acquisition date fair value of contingent consideration. We have recorded a preliminary allocation of the purchase price for AMPM, which resulted in goodwill of $0.7 million and intangible assets, including trade names of $0.4 million. Goodwill was assigned to the durable medical equipment segment and is attributable primarily to expected synergies and the assembled workforce of the acquired business. None of the goodwill is expected to be deductible for income tax purposes. The presentation of pro forma financial disclosures are not required in connection with the AMPM acquisition. The contingent consideration arrangement requires the Company to pay up to $2.1 million of additional consideration to the seller if certain revenue thresholds are achieved for the 12 months ended September 1, 2022. The fair value of the contingent consideration arrangement at the acquisition date was $0.4 million. The Company estimated the fair value of the contingent consideration using a Monte Carlo simulation model. The key assumptions in applying the Monte Carlo simulation model include volatility of 40.0% and a discount rate of 10.3%. The contingent consideration is included within the other liabilities in the consolidated balance sheets.

Holding Company Reorganization

Holding Company Reorganization and Financing Transaction	9 Months Ended
	Mar. 31, 2021
Reorganizations [Abstract]
Holding Company Reorganization and Financing Transaction	5. Holding Company Reorganization and Financing Transaction Holding Company Reorganization On December 21, 2020, GEC Company Holding Company Reorganization On December 29, 2020, pursuant to the terms of the Agreement and Plan of Merger, dated as of December 21, 2020, among Forest, the Company and Forest Merger Sub, Inc., a newly created entity for the purpose of facilitating the Merger, (as it may be amended from time to time, the Merger Agreement Transactions Financing Transaction Following the consummation of the Holding Company Reorganization, J.P. Morgan Broker-Dealer Holdings Inc. ( JPM In connection with such financing, among other things: • Forest issued to JPM 35,010 newly issued shares of 9.0% preferred stock (the Forest Preferred Stock ) with a maturity date of December 29, 2027 for $1,000.00 per share; • HC LLC issued 10,090 newly issued shares of 9.0% Series A-1 preferred stock (the Series A-1 Preferred Stock ) with a maturity date of December 29, 2027 and face value of $1,000.00 per share to the owners of DME Inc., which in turn distributed such preferred stock pro rata to the holders of its common stock such that 80.1% of such preferred stock is held by Forest, 9.95% is held by Corbel Capital Partners SBIC, L.P. ( Corbel ), and 9.95% is held by Valley Healthcare Group, LLC ( VHG ). Upon a sale of the durable medical equipment business, such holders of Series A-1 Preferred Stock are only entitled to their liquidation preference; • HC LLC, a wholly-owned subsidiary of DME Inc., and sole owner of the durable medical equipment operating subsidiaries, issued to Forest 34,010 newly issued shares of 9.0% Series A-2 preferred stock (the Series A-2 Preferred Stock ) with a maturity date of December 29, 2027 for $1,000.00 per share. Upon a sale of the durable medical equipment business, such holders of Series A-2 Preferred Stock are entitled to the greater of their liquidation preference or 33% of proceeds arising from such sale; • HC LLC distributed to the owners of DME Inc. cash of $1.9 million and reimbursed GEG $1.3 million to cover deal costs; • Forest distributed to the Company, its sole stockholder, all of the assets and liabilities of Forest other than certain excluded assets and related liabilities, including Forest’s real estate business, and a preferred investment in the Company’s durable medical equipment business; and • JPM acquired 20% of Forest’s common stock for a purchase price of $2.7 million. The Company’s wholly-owned subsidiary, DME Manager, concurrently entered into an agreement with Forest to provide advisory services in exchange for annual consulting fees of $0.45 million. (each collectively noted above, the JPM Transactions Using proceeds from the JPM Transactions, DME Inc. paid off the term loan with Corbel (the Corbel Facility

Related Party Transactions

Related Party Transactions	9 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions Related party transactions are measured in part by the amount of consideration paid or received as established and agreed by the parties. Consideration paid for such services in each case is the negotiated value. Durable Medical Equipment In connection with the acquisition of the durable medical equipment businesses in September 2018, DME Inc. and its subsidiaries entered into the Corbel Facility. Jeffrey S. Serota, a member of the Company’s board of directors, serves as Vice Chairman to Corbel Capital Partners. Corbel previously held an interest in one of our acquired durable medical equipment businesses and was one of the sellers in our acquisition of the business. As a result of the acquisition, at March 31, 2021 Corbel holds a non-controlling interest in DME Inc. Pursuant to the Corbel Facility, Corbel was paid a structuring fee and a quarterly monitoring fee. In conjunction with the JPM Transactions, the Corbel Facility was repaid early on December 29, 2020, and DME Inc. paid a deferred structuring fee as well as a prepayment penalty. See Note 12 - Borrowings for additional information on the Corbel Facility and Note 15 – Non-Controlling Interests and Preferred Stock of Subsidiaries. In connection with the acquisition of the durable medical equipment businesses, the Company issued non-controlling interests in DME Inc. to the former owners, including Corbel discussed above. Investment Management The Company’s wholly-owned subsidiary, GECM, has agreements to provide administrative services and manage the investment portfolio for GECC. Under these agreements, GECM receives administrative fees, management fees based on GECC’s assets (other than cash and cash equivalents) and incentive fees if GECC has net capital gains or if its net investment income exceeds a specified hurdle rate. Fees under the agreements began to accrue on November 4, 2016. See Note 3 – Revenue for additional discussions of the fee arrangements. All of the Company’s investment management revenue recognized for the periods presented was generated from the management and administration of GECC. The Company’s wholly-owned subsidiary, Great Elm Opportunities GP, Inc. ( GEO GP GEOF GEOF is a Delaware multi-series limited partnership and GESOF is a Delaware limited liability company. The Company has determined that GEOF, each series of GEOF and GESOF are VIEs and that the criteria for consolidation are met for one series of GEOF, which series was launched in December 2020 and began liquidation in February 2021 when the net assets of such series, which consisted of limited partnership interests in GESOF, were distributed to such series’ sole limited partner, the Company. The Company has determined that the criteria for consolidation are met for GESOF, which was launched in February 2021. The operations of each of these consolidated funds (the Consolidated Funds The Company has retained the specialized investment company accounting guidance under GAAP with respect to the Consolidated Funds. As such, investments of the Consolidated Funds are included in the condensed consolidated balance sheets at fair value and the net unrealized gain (loss) on those investments is included as a component of other income on the condensed consolidated income statement. Non-controlling interests in these Consolidated Funds are included in net loss attributable to non-controlling interest. Additionally, the Company receives dividends from its investment in GECC and earns unrealized profits and losses based on the mark-to-market performance of its investment in GECC and the investments held in the Consolidated Funds. See Note 7 – Fair Value Measurements. The following tables summarize activity and outstanding balances between the managed investment products and the Company. For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Change in unrealized loss on investment in GECC $ (1,112 ) $ (9,794 ) $ (454 ) $ (11,603 ) Dividend income from GECC 554 489 2,400 1,567 As of (in thousands) March 31, 2021 June 30, 2020 Dividends receivable from GECC $ 554 $ 163 Investment management revenues receivable 726 746 Receivable for reimbursable expenses paid 207 158 Outstanding receivables are included in related party receivables in the condensed consolidated balance sheets. Outstanding receivables from the Consolidated Funds are eliminated in consolidation. As of March 31, 2021, the Company had $0.01 million in receivable for reimbursable expenses paid on behalf of the Consolidated Funds. The Company is the owner of approximately 23.6% of the outstanding shares of GECC, and the Company’s Chief Executive Officer is also the Chief Executive Officer of GECC and Chief Investment Officer of GECM, in addition to being a member of the board of directors of the Company and chairman of the board of GECC. The Company’s President and Chief Operating Officer is also the Chief Operating Officer, Chief Compliance Officer and General Counsel of GECM and the Chief Compliance Officer of GECC. On October 1, 2020, GECC completed a non-transferable rights offering in which the Company received 2,966,531 shares at a price of $2.95 per share for an aggregate total of $8.8 million. GECM has a profit sharing agreement with the Company’s majority-owned subsidiary GECC GP Corp. ( Profit Sharing Agreement MAST Capital Management, LLC ( MAST Capital In October 2020, GECM entered into a shared personnel and reimbursement agreement with Imperial Capital Asset Management, LLC ( ICAM Real Estate In connection with the acquisition of the real estate business in March 2018, the Company issued the former owner a 19.9% interest in Great Elm FM Holdings, Inc. ( GE FM Holdings General Corporate In conjunction with the JPM Transactions, on December 29, 2020 Forest sold Forest Preferred Stock and the Company sold common stock in Forest to JPM for cash consideration of $35.0 million and $2.7 million, respectively. As a result of these transactions, JPM holds a non-controlling interest in Forest. See Note 15 – Non-Controlling Interests and Preferred Stock of Subsidiaries. On December 18, 2020, the Company purchased from JPM a 21% common stock interest in Ligado Networks, LLC ( Ligado

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. Fair Value Measurements Fair value is defined as the price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. GAAP provides a framework for measuring fair value on either a recurring or nonrecurring basis whereby inputs, used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value: ▪ Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ▪ Level 2: Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means. ▪ Level 3: Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available. All financial assets or liabilities that are measured at fair value on a recurring and non-recurring basis have been segregated into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. The assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized in the tables below: Fair Value as of March 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investment in GECC $ 18,835 $ - $ - $ 18,835 Equity investments of Consolidated Funds $ 25,625 $ - $ - $ 25,625 Total assets $ 44,460 $ - $ - $ 44,460 Liabilities: Participation feature of HC LLC Series A-2 Preferred Stock $ - $ - * * Contingent consideration liability $ - $ - $ 397 $ 397 Total liabilities $ - $ - $ 397 $ 397 *Balance eliminates in consolidation. Fair Value as of June 30, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets: Investment in GECC $ 8,705 $ - $ - $ 8,705 Total assets $ 8,705 $ - $ - $ 8,705 Liabilities: Contingent consideration liability $ - $ - $ - $ - Total liabilities $ - $ - $ - $ - The following is a reconciliation of changes in contingent consideration, a Level 3 liability, for the nine months ended March 31, 2021 and 2020: For the nine months ended March 31, (in thousands) 2021 2020 Beginning balance $ - $ 1,135 Additions 397 - Payments - - Change in fair value - (1,135 ) Ending balance $ 397 $ - There were no transfers between levels of the fair value hierarchy during the nine months ended March 31, 2021 and 2020. The previous contingent consideration arrangement required the Company to pay up to $2.1 million of additional consideration to the former shareholders of the durable medical equipment businesses if certain earnings before interest, taxes, depreciation and amortization ( EBITDA In conjunction with the acquisition of AMPM on March 1, 2021, the Company entered into a separate contingent consideration agreement that requires the Company to pay up to $2.1 million if certain revenue thresholds of the acquired business are achieved for the 12 months ending September 1, 2022. The Company estimated the fair value of the contingent consideration using a Monte Carlo simulation model. The key assumptions in applying the Monte Carlo simulation model as of March 31, 2021 include volatility of 40.0% and a discount rate of 10.3%. The contingent consideration is included within the other liabilities in the consolidated balance sheets. On December 29, 2020, in conjunction with the JPM Transactions, the Company issued HC LLC Series A-2 Preferred Stock to our consolidated subsidiary, Forest. See Note 15 – Non-Controlling Interests and Preferred Stock of Subsidiaries. An embedded derivative was identified in the instrument requiring bifurcation from the host instrument as a derivative to be carried at fair value. The value of the derivative related to a participation feature upon the sale of the durable medical equipment business. As of the issuance date, the fair value was determined using an option pricing model based on the transaction price. The key assumption used in the option pricing model is a volatility rate of 72.7% and an option term of 3 years. Subsequent to the issuance date, fair value of this derivative is determined using an option pricing model based on the estimated value of HC LLC derived from a discounted cash flow income approach and a guideline public company market approach. The key assumptions in applying the valuation approach as of March 31, 2021 include financial forecasts of the durable medical equipment business, a discount rate of 15.5% and a volatility rate of 66.9% (level 3 inputs in accordance with the GAAP fair value hierarchy). The fair value of the embedded derivative as of the issuance date and as of March 31, 2021 was $6.5 million and $11.3 million respectively. Since the HC LLC Series A-2 Preferred Stock are issued to Forest, a consolidated subsidiary, the instruments and their effects on our operations have been eliminated in consolidation and therefore the valuation of the participation feature is reflected as zero within the table above. However, this valuation does impact our segment results and non-controlling interest accounts. The Company is the owner of approximately 23.6% (or 5,539,724 shares) of the outstanding shares of GECC and values its ownership based on the NASDAQ-listed market price of GECC common stock (a Level 1 input in accordance with the GAAP fair value hierarchy).

Fixed Assets

Fixed Assets	9 Months Ended
	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Fixed Assets	8. Fixed Assets The Company’s fixed assets consist of its leased real estate assets, medical equipment held for rental, furniture and fixtures, and leasehold improvements used in its operations. The following tables detail the Company’s fixed assets: (in thousands) March 31, 2021 June 30, 2020 Real Estate Assets Buildings $ 43,355 $ 43,355 Land and site improvements 9,170 9,170 Tenant improvements 3,500 3,500 56,025 56,025 Accumulated depreciation (3,754 ) (2,837 ) Net carrying amount $ 52,271 $ 53,188 Property and Equipment Leasehold improvements $ 830 $ 858 Vehicles 232 237 Computer equipment and software 356 277 Furniture and fixtures 391 417 Sleep study equipment 577 589 2,386 2,378 Accumulated depreciation (1,445 ) (968 ) Net carrying amount $ 941 $ 1,410 Medical Equipment Held for Rental Medical equipment held for rental $ 14,501 $ 13,828 Accumulated depreciation (7,353 ) (6,345 ) Net carrying amount $ 7,148 $ 7,483 The following table reconciles depreciation expense included in the following lines of the condensed consolidated statements of operations to total depreciation expense for each period presented. For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Depreciation and amortization $ 510 $ 478 $ 1,454 $ 1,433 Cost of durable medical equipment rentals 1,478 1,882 4,683 5,895 Total depreciation expense $ 1,988 $ 2,360 $ 6,137 $ 7,328

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	9. Goodwill and Other Intangible Assets The Company’s investment management and real estate segments include identifiable intangible assets acquired through acquisitions in prior years. In connection with the acquisition of the durable medical equipment businesses, the Company has also recognized goodwill and identifiable intangible assets associated with the tradenames and non-compete agreements. The Company’s annual impairment assessment date for goodwill and other intangible assets is April 1. Goodwill of $50.7 million presented on the condensed consolidated balance sheet consists only of the goodwill acquired as part of the acquisitions of the durable medical equipment businesses beginning in September 2018. The changes in the carrying value of goodwill are as follows: For the nine months ended March 31, (in thousands) 2021 2020 Beginning balance $ 50,010 $ 50,397 Acquisition of businesses 648 - Purchase accounting adjustment - 36 Ending balance $ 50,658 $ 50,433 The following tables provide details associated with the Company’s identifiable intangible assets subject to amortization (dollar amounts in thousands): As of March 31, 2021 As of June 30, 2020 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Durable Medical Equipment Tradename $ 9,056 $ (2,273 ) $ 6,783 $ 8,800 $ (1,613 ) $ 7,187 Hospital Contracts 90 (4 ) 86 - - - Non-compete agreements 1,370 (811 ) 559 1,360 (573 ) 787 10,516 (3,088 ) 7,428 10,160 (2,186 ) 7,974 Investment Management Investment management agreement 3,900 (2,200 ) 1,700 3,900 (1,887 ) 2,013 Assembled workforce 526 (297 ) 229 526 (255 ) 271 4,426 (2,497 ) 1,929 4,426 (2,142 ) 2,284 Real Estate In-place lease 6,028 (1,531 ) 4,497 6,028 (1,157 ) 4,871 Total $ 20,970 $ (7,116 ) $ 13,854 $ 20,614 $ (5,485 ) $ 15,129 Aggregate Amortization Expense (in thousands) 2021 2020 For the three months ended March 31, $ 1,080 $ 574 For the nine months ended March 31, 1,631 1,816 Estimated Future Amortization Expense (in thousands) For the three months ending June 30, 2021 $ 553 For the year ending June 30, 2022 2,070 For the year ending June 30, 2023 1,967 For the year ending June 30, 2024 1,768 For the year ending June 30, 2025 1,658 Thereafter 5,838 Total $ 13,854

Lessor Operating Leases

Lessor Operating Leases	9 Months Ended
	Mar. 31, 2021
Lessor Disclosure [Abstract]
Lessor Operating Leases	10. Lessor Operating Leases Medical Equipment Leases Through its majority-owned subsidiary DME Inc., and the subsidiaries of DME Inc., the Company owns medical equipment which is leased to customers. The Company’s customers consist primarily of patients through their clinical providers including medical centers, clinics and hospices and the Company has lease arrangements with these patients. In addition, the arrangements between the Company and its customers are impacted by arrangements between the Company and Payors. The Payors may cover a portion or all of the rental payments under the agreements between the Company and its customers. The patient is responsible for any residual co-payments. The lease terms may be for a pre-determined time period, generally 10 months to 36 months; however, the customer may cancel the lease at any time and for any reason without penalty and therefore, the Company treats all leases as month-to-month leases. Upon termination of the lease, the equipment, if not aged beyond its useful life, may be refurbished and subsequently sold or leased to another customer. As the leases are month-to-month, there are no future lease receivables under the terms of the current leases. Real Estate Leases The Company’s majority-owned subsidiary CRIC IT Fort Myers LLC ( Property Owner Property Gartner Leases The Property is subject to mortgage, security agreement and assignment of leases and rents with the senior and subordinated lenders, which is further described in Note 12 - Borrowings. The Property Owner has assigned all rights, title and interest in and to the Property and the Leases to the senior and subordinated lenders and all amounts received are paid to a trust which funds the operating costs associated with the Property. The Company does not have rights to these rent payments while the borrowings remain outstanding. The Company expects to derive value from the residual value at the end of the existing lease term by further leasing the assets or through a sale transaction. Rental income from real estate leases is summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Revenues from base rents $ 1,151 $ 1,151 $ 3,453 $ 3,453 Revenues from additional rental payments 125 121 371 367 Total rental revenues $ 1,276 $ 1,272 $ 3,824 $ 3,820 The following table summarizes the base rents for the remaining lease term: (in thousands) Base Rent Payments For the three months ending June 30, 2021 $ 1,068 For the year ending June 30, 2022 4,312 For the year ending June 30, 2023 4,419 For the year ending June 30, 2024 4,529 For the year ending June 30, 2025 4,648 Thereafter 24,025 Total base rent $ 43,001

Lessee Operating Leases

Lessee Operating Leases	9 Months Ended
	Mar. 31, 2021
Lessee Disclosure [Abstract]
Lessee Operating Leases	11. Lessee Operating Leases All of the Company’s leases are operating leases. Certain of the leases have both lease and non-lease components. The Company has elected to account for each separate lease component and the non-lease components associated with that lease component as a single lease component for all classes of underlying assets. The following table provides additional details of the leases presented in the balance sheets: (in thousands) March 31, 2021 June 30, 2020 Facilities Right of use assets $ 5,135 $ 6,066 Current portion of lease liabilities 1,770 1,371 Lease liabilities, net of current portion 3,637 4,989 Total liabilities $ 5,407 $ 6,360 Weighted-average remaining life 3.4 years 4.4 years Weighted-average discount rate 11.4 % 11.7 % Vehicles Right of use assets $ 104 $ 80 Current portion of lease liabilities 29 18 Lease liabilities, net of current portion 75 62 Total liabilities $ 104 $ 80 Weighted-average remaining life 3.6 years 3.7 years Weighted-average discount rate 10.1 % 12.3 % Equipment Right of use assets $ 37 $ 93 Current portion of lease liabilities 29 34 Lease liabilities, net of current portion 8 59 Total liabilities $ 37 $ 93 Weighted-average remaining life .9 years 2.6 years Weighted-average discount rate 10.8 % 12.5 % As of March 31, 2021, the Company had remaining right of use assets of $5.3 million and lease liabilities of $5.5 million (consisting of $1.8 million in current portion of lease liabilities and $3.7 million in lease liabilities, net of current portion on the condensed consolidated balance sheet) related to the leases discussed herein. Operating lease costs are included in the operating expense associated with the business segment leasing the asset on the statements of operations and are included in cash flows from operating activities on the statements of cash flows. Certain operating leases include variable lease costs which are not material and are included in operating lease costs. Additional details are presented in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Facilities Operating lease cost $ 559 $ 514 $ 1,638 $ 1,561 Cash paid for operating leases 527 524 1,616 1,535 Vehicles Operating lease cost $ 23 $ 6 $ 37 $ 20 Cash paid for operating leases 9 6 23 20 Equipment Operating lease cost $ 12 $ 11 $ 34 $ 33 Cash paid for operating leases 12 11 34 33 The following table summarizes the Company’s undiscounted cash payment obligations for its operating leases: (in thousands) For the three months ending June 30, 2021 $ 606 For the year ending June 30, 2022 2,271 For the year ending June 30, 2023 1,570 For the year ending June 30, 2024 1,127 For the year ending June 30, 2025 635 Thereafter 480 Total lease payments $ 6,689 Imputed interest (1,141 ) Total lease liabilities $ 5,548 Durable Medical Equipment The facility leases include offices, retail and warehouse space and sleep labs. The leases have original or amended terms ranging from 12 to 96 months, some of which include an additional option to extend the lease for up to 120 months. Certain of these leases have variable rental payments tied to a consumer price index or include additional rental payments for maintenance costs, taxes and insurance, which are accounted for as variable rent. The vehicles leases have original lease terms of 60 months from the commencement date of each lease with no option to extend. Each lease may be terminated by the lessee with 30-days’ notice after the first 13 months of the lease subject to certain early termination costs, including residual value guarantees. The lease costs include variable payments for taxes and other fees. Equipment leases consist of office equipment with original lease terms ranging from 36 to 48 months from the commencement date of each lease and may include an option to extend or purchase at the end of the lease term. Certain of these leases include additional rental costs for taxes, insurance and additional fees in addition to the base rental costs. Investment Management and General Corporate The Company has a lease for office space located in Waltham, MA. This office space is allocated between the investment management and general corporate segments. On the commencement date of the lease, the non-cancellable term was for eighty-eight months from the occupancy date of June 1, 2017 and contains an option to extend for an additional sixty-month The lease payments commenced on October 1, 2017, four months after the Company began to occupy the space. On an annual basis, the lease payments increase at an average rate of approximately 2.4% from $28 to $32 thousand per month.

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Borrowings	12. Borrowings Related party borrowings of the Company’s subsidiaries are summarized in the following table: (in thousands) Subsidiaries March 31, 2021 June 30, 2020 Corbel Facility DME Inc. and subsidiaries $ - $ 25,106 GP Corp. Note GP Corp. - 3,072 Total principal $ - $ 28,178 Unamortized debt issuance cost - (275 ) Total long-term related party notes payable - 27,903 Less current portion of related party notes payable - (1,418 ) Related party notes payable, net of current portion $ - $ 26,485 The Company’s subsidiaries’ other outstanding borrowings are summarized in the following table: (in thousands) Subsidiaries March 31, 2021 June 30, 2020 DME Revolver DME Inc. and subsidiaries $ - $ 3,900 Equipment Financing DME Inc. and subsidiaries 2,238 2,230 Senior Note CRIC IT 48,281 50,004 Subordinated Note CRIC IT 4,253 3,803 Total principal $ 54,772 $ 59,937 Unamortized debt premiums 3,263 3,251 Unamortized debt discounts and issuance costs (1,796 ) (1,956 ) Total other outstanding borrowings 56,239 61,232 Less current portion of other outstanding borrowings (4,615 ) (8,255 ) Other outstanding borrowings, net of current portion $ 51,624 $ 52,977 The Company incurred interest expense of $1.5 million and $1.6 million for the three months ended March 31, 2021 and 2020, respectively. The Company incurred interest expenses of $4.2 million and $4.9 million for the nine months ended March 31, 2021 and 2020, respectively. The Company’s aggregate future required principal debt repayments are summarized in the following table: (in thousands) Principal Due For the three months ending June 30, 2021 $ 1,552 For the year ending June 30, 2022 3,738 For the year ending June 30, 2023 2,759 For the year ending June 30, 2024 2,906 For the year ending June 30, 2025 3,126 Thereafter 52,708 Total $ 66,789 Outstanding principal on related party borrowings $ - Outstanding principal on other borrowings 54,772 Future interest to be paid-in-kind 12,017 Total future required principal payments $ 66,789 Additional details of each borrowing by operating segment are discussed below. Durable Medical Equipment In connection with the acquisition of 80.1% of DME Inc., the Company assumed the Corbel Facility with a principal balance of $8.5 million, which was amended and increased to $25 million concurrent with the closing of the first acquisition of the durable medical equipment businesses in September 2018. In addition, the Company assumed and expanded a revolving line of credit agreement ( DME Revolver The Company amended and borrowed an additional $3.4 million under the Corbel Facility in June 2019. The remaining outstanding principal balance of $24.8 million was repaid on December 29, 2020. The repayment included deferred structuring fees of $0.6 million, prepayment premiums and settlement fees of $1.0 million, and lender legal fees of $0.1 million. In addition, upon repayment, the Company wrote off the remaining unamortized debt issuance costs of $0.2 million, resulting in an aggregate $1.9 million loss on extinguishment of debt. The Corbel Facility was held by Corbel, a related party, which also holds a non-controlling interest in DME Inc. and HC LLC Series A-1 Preferred Stock. See Note 6 – Related Party Transactions and Note 15 – Non-Controlling Interests and Preferred Stock of Subsidiaries. Principal payments and interest expense incurred on the Corbel Facility are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Principal payments $ - $ 807 $ 25,106 $ 2,123 Interest expense - 793 1,296 3,251 The DME Revolver had a balance of $0.0 million at March 31, 2021 and allows for borrowings up to $10 million, subject to a fixed percentage of qualifying accounts receivables and inventories related to the durable medical equipment business operations. Borrowings under the line of credit are due on November 29, 2022 and accrue interest at a variable rate of the prime rate plus 0.4% per annum. At March 31, 2021 the interest rate was 3.7%. Interest is payable monthly in arrears. The Company has the option to prepay the borrowings without any penalty. The Company has classified all borrowings under the DME Revolver as long-term in the condensed consolidated balance sheets as of March 31, 2021 based on the maturity date of the facility. The borrowings under the DME Revolver are collateralized by the assets of the durable medical equipment business and DME Inc. is required to meet certain financial covenants. The DME Revolver includes covenants that restrict DME Inc. ’s and its subsidiaries’ business operations to the current business, limit additional indebtedness, liens, asset dispositions and investments, require compliance and maintenance of licenses and government approvals and other customary conditions. Events of default include the failure to pay amounts when due, bankruptcy, or violation of covenants, including a change in control of DME Inc. DME Inc. and its subsidiaries on a consolidated basis must also comply with a fixed-charge coverage and leverage ratio financial covenants, which are based in part on the DME Inc. EBITDA levels. T he obligations under the DME Revolver are non-recourse to the Company. DME Inc’s operating subsidiaries also utilize equipment financing debt to fund certain inventory and equipment purchases from suppliers. These equipment financing debt agreements are entered into with 3rd party banks and are generally payable in equal installments over terms of one to three years, depending on the nature of the underlying purchases being financed. The debt is secured by the inventory and equipment, as applicable, of the operating subsidiaries entering into the agreements, and the long-term agreements have implicit interest rates between 7 – 8%. During the nine months ended March 31, 2021 and 2020, the Company financed $1.6 million and $1.3 million, respectively, in inventory and equipment through such financing agreements. Investment Management The GP Corp. Note matures in November 2026, accrues interest at a variable rate of three-month LIBOR plus 3.0% per annum and is secured by a profit sharing agreement related to GECM’s management of GECC. On March 10, 2021 GEG purchased the GP Corp. Note as well as non-controlling interests in GECC GP Corp. and certain board appointment rights from MAST Capital. In exchange, GEG issued $2.3 million of Convertible Notes. As MAST Capital is a related party, no gain was recorded on the transaction. The difference in carrying value between the instruments purchased (including the GP Corp. Note and MAST Capital’s non-controlling interests) and that of the newly issued convertible notes was treated as a capital contribution and recorded to additional paid in capital in the amount of $0.6 million. Payments and interest expense incurred on the GP Corp. Note are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Principal payments $ - $ - $ - $ - Interest expense 22 42 73 130 Real Estate In connection with the acquisition of the real estate business, the Company’s majority-owned subsidiary, CRIC IT, assumed a senior secured note ( Senior Note Subordinated Note The Senior Note matures on March 15, 2030, accrues interest at a rate of 3.49% per annum and is secured by a first lien mortgage on the Property and an Assignment of Leases and Rents. The Senior Note requires monthly principal and interest payments through the maturity date, with the last payment of $18.4 million on March 15, 2030. The principal and interest due on the Senior Note may be prepaid at the option of the borrower, based on an amount determined by discounting the remaining principal and interest payments at a rate equal to an applicable premium in excess of a rate corresponding to the specified U.S. Treasury security over the remaining average life of the Senior Note. The Subordinated Note matures on March 15, 2030, accrues interest at a rate of 15.0% per annum, and is secured by a second lien mortgage on the Property and an Assignment of Leases and Rents. The Subordinated Note is a capital appreciation note, whereby the monthly interest is capitalized to the principal balance and due at maturity. Accordingly, a $16.3 million payment is due on March 15, 2030. The principal and interest due on the Subordinate Note may be prepaid at the option of the borrower, based on an amount determined by discounting the remaining principal and interest payments at a rate equal to an applicable premium in excess of a rate corresponding to the specified U.S. Treasury security over the remaining average life of the Subordinated Note. The note agreements include negative covenants that restrict the Property Owner’s business operations to ownership and lease of the Property, limit additional indebtedness, require maintenance of insurance and other customary requirements related to the Property. Events of default include non-payment of amounts when due, inability to pay indebtedness or material change in the business operations or financial condition of the Property Owner or the lease tenant that in the Lender’s reasonable determination would reasonably be expected to materially impair the value of the Property, prevent timely repayment of the notes or performance of any material obligations under the note and related agreements. The payments under the notes are also guaranteed on a full and several basis by the non-controlling interest holder of the Property Owner. Both the Senior Note and Subordinated Note are non-recourse to the Company, but are secured by the Property, the rights associated with the Leases and the stock owned by the Company in the Property Owner. See Note 10 – Lessor Operating Leases.

Convertible Notes

Convertible Notes	9 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Convertible Notes	13. Convertible Notes On February 26, 2020, the Company issued Convertible Notes at par with an aggregate principal balance of $30 million due February 26, 2030 (the Convertible Notes ▪ $6.3 million ▪ $6.7 million ▪ $0.7 million ▪ $2.3 million issued to MAST Capital, owner of 7.6% of our outstanding company stock. The Convertible Notes accrue interest at 5.0% per annum, payable semiannually in arrears on June 30 and December 31, commencing June 30, 2020, in cash or in kind at the option of the Company. Each $1,000 principal amount of the Convertible Notes are convertible into 288.0018 shares of the Company’s common stock, subject to the terms therein, prior to maturity at the option of the holder. The Company may, subject to compliance with the terms of the Convertible Notes, effect the conversion of some or all of the Convertible Notes into shares of common stock, subject to certain liquidity and pricing requirements, as specified in the Convertible Notes. The embedded conversion feature in the Convertible Notes qualifies for the scope exception to derivative accounting in ASC Topic 815, Derivatives and Hedging, The Company incurred interest expense of $0.7 million and $0.2 million related to the convertible notes for the three months ended March 31, 2021 and 2020, respectively. The Company incurred interest expense of $1.8 million and $0.2 million for the nine months ended March 31, 2021 and 2020, respectively.

CARES Act

CARES Act	9 Months Ended
	Mar. 31, 2021
Extraordinary And Unusual Items [Abstract]
CARES Act	14. CARES Act On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ( CARES Act PPP Loan SBA Additionally, pursuant to the CARES Act, Congress appropriated $100 billion in relief funds for hospitals and healthcare providers through grants administered by the U.S. Department of Health and Human Services ( HHS We have accounted for such proceeds as in-substance government grants by analogizing to International Accounting Standard 20, Accounting for Government Grants and Disclosure of Government Assistance On December 27, 2020, the Taxpayer Certainty and Disaster Tax Relief Act of 2020 expanded certain benefits made available under the CARES Act, including modifying and extending the Employee Retention Credit ( ERC

Non-Controlling Interests and P

Non-Controlling Interests and Preferred Stock of Subsidiaries	9 Months Ended
	Mar. 31, 2021
Noncontrolling Interest [Abstract]
Non-Controlling Interests and Preferred Stock of Subsidiaries	15. Non-Controlling Interests and Preferred Stock of Subsidiaries Non-Controlling Interests of Subsidiaries Holders of non-controlling interests ( NCI (in thousands) March 31, 2021 June 30, 2020 DME Inc. Temporary equity 2,055 3,890 Permanent equity 2,055 3,890 Total DME Inc. 4,110 7,780 GP Corp. Permanent equity (187 ) (782 ) GE FM Holdings Permanent equity 823 778 GESOF Permanent equity 3,126 - Forest Permanent equity 3,720 - Total Non-controlling interests $ 11,592 $ 7,776 The following table summarizes the net income (loss) attributable to the non-controlling interests on the condensed consolidated statements of operations: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 DME Inc. Temporary equity (509 ) (139 ) (846 ) (297 ) Permanent equity (509 ) (139 ) (846 ) (297 ) Total DME Inc. (1,018 ) (278 ) (1,692 ) (594 ) GP Corp. Permanent equity (26 ) (37 ) (86 ) (122 ) GE FM Holdings Permanent equity 15 14 45 40 GESOF Permanent equity (148 ) - (148 ) - Forest Permanent equity 1,019 - 1,019 - Total $ (158 ) $ (301 ) $ (862 ) $ (676 ) Non-controlling interest in DME Inc. classified as temporary equity In connection with the acquisition of the durable medical equipment businesses in September 2018, the Company issued a 9.95% common stock equity ownership in DME Inc. The holder of the interest has a board observer rights for the DME Inc. board of directors, but no voting rights. DME Inc. has the right of first offer if the holder desires to sell the security and in the event of a sale of DME Inc., the holder must sell their securities (drag along rights) and has the right to participate in sales of DME Inc. securities (tag along rights). In addition, upon the seventh anniversary of issuance date, if (i) the holder owns 50% of the common shares issued to it at the closing of the transaction, (ii) an initial public offering of DME Inc. has not commenced and (iii) the holder has not had an earlier opportunity to sell its shares at their fair market value, the holder has the right to request a marketing process for a sale of DME Inc. and has the right to put its common shares to DME Inc. at the price for such shares implied by such marketing process. The Company also has the right to call the holder’s common shares at such price. The holder of the non-controlling interest is entitled to participate in earnings of DME Inc. and is not required to fund losses. As the redemption is contingent upon future events outside of the Company’s control which are not probable, the Company has classified the non-controlling interest as temporary equity and its fair value on the date of issuance, adjusted for any earnings in DME Inc. The holder of this non-controlling interest, Corbel, is also the holder of the Series A-1 Preferred Stock and previously was the holder of the Corbel Facility Non-controlling interest in DME Inc. classified as permanent equity In connection with the acquisition of the durable medical equipment businesses in September 2018, the Company issued one of the former owners, a 9.95% common stock equity ownership in DME Inc. The rights are consistent with the non-controlling interest classified as temporary equity, other than the holder does not have a contingent put right. Accordingly, Company has classified the non-controlling interest as permanent equity at its fair value on the date of issuance, adjusted for any earnings in DME Inc. GECC GP Corp. – Non-controlling interest classified as permanent equity In connection with the acquisition of the investment management business in November 2016, the Company issued certain affiliates and employees of the Company a 19.9% interest in GP Corp. During the quarter ended March 31, 2021, the Company repurchased 15.6% of such interests, leaving a 4.3% non-controlling interest in GP Corp. as of March 31, 2021. GE FM Holdings – Non-controlling interest classified as permanent equity In connection with the acquisition of the real estate business in March 2018, the Company issued the former owner a 19.9% interest in GE FM Holdings. Forest – Non-controlling interest classified as permanent equity In connection with the JPM Transactions on December 29, 2020, the Company sold JPM a 20.0% common stock interest in Forest in exchange for $2.7 million. JPM has a representative on the Forest board of directors and the right to designate a number of directors commensurate with their common stock ownership interest. Forest has the right of first offer if the holder desires to sell the security and in the event of a sale of Forest, the holder must sell their securities (drag along rights) and has the right to participate in sales of Forest securities (tag along rights). The holder of the non-controlling interest is entitled to participate in earnings of Forest and is not required to fund losses. The holder of this non-controlling interest, JPM, is also the holder of Forest Preferred Stock discussed below. See Note 6 – Related Party Transactions. GESOF – Non-controlling interest classified as permanent equity As of March 31, 2021, GEG held 76.8% of the capital in the fund. The remaining 23.2% of capital in GESOF is recorded as a non-controlling interest. These non-controlling interests of GESOF include affiliated individuals and entities. Redeemable Preferred Stock of Subsidiaries The following table summarizes the preferred stock of subsidiary balances on the condensed consolidated balance sheets: (in thousands) March 31, 2021 June 30, 2020 HC LLC Series A-1 Preferred Stock 1,556 - Series A-2 Preferred Stock - - Total HC LLC 1,556 - Forest Forest Preferred Stock 33,918 - Total preferred stock classified as liability $ 35,474 $ - HC LLC - Series A-1 Preferred Stock classified as a liability In connection with the JPM Transactions, the Company issued 10,090 shares of Series A-1 Preferred Stock with a face value of $1,000 per share at issuance. The shares were issued pro-rata to the stockholders of DME Inc. in the form of a distribution and no consideration was provided in exchange for such instruments. The shares provide for a 9% annual dividend, which is payable quarterly. The shares are mandatorily redeemable by the Company at their face value of $1,000 per share on the earlier of certain redemption events or December 29, 2027. The redemption events include a bankruptcy, change in control or sale of the durable medical equipment business. The shares are redeemable at any time at the option of Company at a redemption price equal to face value. The shares rank senior and have preference to the common shares of HC LLC. The shares are non-voting, do not participate in the earnings of HC LLC and contain standard protective rights. As the shares of Series A-1 Preferred Stock are mandatorily redeemable at a specified date, the security has been classified as a liability in the consolidated balance sheet. The dividends on the shares are included in interest expense in the consolidated statement of operations. The fair value of each share of Series A-1 Preferred Stock on the issuance date was determined to be $801 per share. The difference between the fair value and the redemption value of $1,000 per share as well as debt issuance costs of $0.2 million is accounted for as a debt discount and accretion of the discount will be charged to interest expense over the 7-year period to redemption using the effective interest method. The holders of the Series A-1 Preferred Stock include our majority-owned consolidated subsidiary Forest (8,082 shares), as well as Corbel and VHG (each 1,004 shares), who are also the holders of non-controlling interests in DME Inc. discussed above. See Note 6 – Related Party Transactions. Such shares of Series A-1 Preferred Stock issued to consolidated subsidiaries and their effects on our operations have been eliminated in consolidation. HC LLC Series A-2 Preferred Stock classified as a liability In connection with the JPM Transactions, the Company issued 34,010 shares of Series A-2 Preferred Stock with a face value of $1,000 per share at issuance. The shares were issued to Forest in exchange for cash equal to the face value of such shares. The shares provide for a 9% annual dividend, which is payable quarterly. The shares are mandatorily redeemable by the Company at their face value of $1,000 per share on December 29, 2027, or at a 0-3% premium decreasing over time based upon the occurrence of certain redemption events prior to December 29, 2027. The redemption events include a bankruptcy, change in control or sale of the durable medical equipment business. The shares are redeemable at any time at the option of Company at a redemption price at face value plus the 0-3% premium then in place. The shares rank senior and have preference to the common shares of HC LCC. The shares are non-voting and contain standard protective rights. In addition, upon a sale of the durable medical equipment business, the holders of HC LLC Series A-2 Preferred Stock are entitled to the greater of their liquidation preference or 33% of proceeds arising from such sale. As the shares of Series A-2 Preferred Stock are mandatorily redeemable at a specified date, the security has been classified as a liability in the consolidated balance sheet. The dividends on the shares are included in interest expense in the consolidated statement of operations. We have identified the feature allowing holders of the HC LLC Series A-2 Preferred Stock to participate in up to 33% of proceeds arising from a sale of the durable medical equipment business as an embedded derivative. We have bifurcated this embedded derivative from the mandatorily redeemable preferred stock host and have recorded the derivative liability at fair value. The fair value of the derivative liability on the issuance date was $6.5 million, and will be marked to fair value at each reporting date going forward. The fair value of each share of Series A-2 Preferred Stock on the issuance date was determined to be $810 per share. The difference between the fair value and the redemption value of $1,000 per share as well as debt issuance costs of $1.1 million is accounted for as a debt discount and accretion of the discount will be charged to interest expense over the 7-year period to redemption using the effective interest method. The holder of the Series A-2 Preferred Stock is our majority-owned consolidated subsidiary Forest. Such shares and related embedded derivatives issued to consolidated subsidiaries and their effects on our operations have been eliminated in consolidation. Forest Preferred Stock classified as a liability In connection with the JPM Transactions, Forest issued 35,010 shares of preferred stock in Forest with a face value of $1,000 per share at issuance. The preferred shares were sold to JPM in exchange for cash equal to the face value of such shares. The preferred shares provide for a 9% annual dividend, which is payable quarterly. The preferred shares are mandatorily redeemable by the Company at their face value of $1,000 per share on December 29, 2027, or at a 0-3% premium decreasing over time based upon the occurrence of certain redemption events prior to December 29, 2027. The redemption events include the occurrence of an ownership change that triggers an IRC § 382 limitation which reduces Forest net operating loss carryforwards to less than $300 million. The preferred shares are redeemable at any time at the option of Company at a redemption price at face value plus the 0-3% premium then in place. The preferred shares rank senior and have preference to the common shares of Forest. The shares are non-voting, do not participate in the earnings of Forest and contain standard protective rights. As the preferred shares are mandatorily redeemable at a specified date, the security has been classified as a liability in the consolidated balance sheet. The dividends on the preferred stock are included in interest expense in the consolidated statement of operations. The fair value of each share of Forest Preferred Stock on the issuance date was determined to equal its face value based on the transaction price. Debt issuance costs of $1.2 million is accounted for as a debt discount and accretion of the discount will be charged to interest expense over the 7-year period to redemption using the effective interest method. The holder of the Forest Preferred Stock is JPM, who is also the holder of the non-controlling interests in Forest discussed above. See Note 6 – Related Party Transactions.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Stockholders' Equity	16. Stockholders’ Equity Restricted Stock Awards (Performance Shares) and Restricted Stock Units During the nine months ended March 31, 2021, there were no awards or forfeitures of restricted stock awards included in the below table and 732,909 remain outstanding as of March 31, 2021. Restricted stock awards granted have both performance and service requirements in connection with the formation of the investment management business. The vesting of these awards is subject to a five-year five-year Restricted stock units are subject to service requirements. The Company accounts for forfeitures of the restricted stock units in the period incurred. During the three and nine months ended March 31, 2021 the Company granted 18,120 and 305,299 shares of restricted stock units, respectively, to employees and directors. The activity of the Company’s restricted stock awards and units for the nine months ended March 31, 2021 was as follows: Restricted Stock Awards and Restricted Stock Units Restricted Stock (in thousands) Weighted Average Grant Date Fair Value Outstanding at June 30, 2020 941 $ 3.71 Granted 305 2.66 Vested (307 ) 2.61 Forfeited - - Outstanding at March 31, 2021 939 $ 3.73 Stock Options The following table summarizes the Company’s option award activity as of and through March 31, 2021: Options Shares (in thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at June 30, 2020 2,475 $ 3.69 5.51 $ - Options granted 18 3.51 - - Exercised - - - - Forfeited, cancelled or expired - - - - Outstanding at March 31, 2021 2,493 $ 3.69 5.01 $ - Exercisable at March 31, 2021 1,887 $ 3.65 4.36 $ - Vested and expected to vest as of March 31, 2021 2,493 $ 3.69 4.76 $ - During the three months ended March 31, 2021 and 2020, the Company recognized total stock-based compensation associated with all restricted stock and stock options of $0.6 million and $0.3 million, respectively. During the nine months ended March 31, 2021 and 2020, the Company recognized total stock-based compensation associated with all restricted stock and stock options of $1.3 million and $0.2 million, respectively. As of March 31, 2021, unrecognized compensation costs associated with outstanding stock and stock-linked awards totaled approximately $1.7 million.

Income Tax

Income Tax	9 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax	17. Income Tax As of June 30, 2020, the Company had net operating loss ( NOL In light of the Company’s history of cumulative operating losses, the Company recorded a valuation allowance for all of its federal and state deferred tax assets, as it is presently unable to conclude that it is more likely than not that the federal and state deferred tax assets in excess of deferred tax liabilities will be realized.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. Commitments and Contingencies From time to time, the Company is involved in lawsuits, claims, investigations and proceedings that arise in the ordinary course of business. The Company maintains insurance to mitigate losses related to certain risks. The Company is not a named party in any other pending or threatened litigation that we expect to have a material adverse impact on our business, results of operations, financial condition or cash flows.

Segment Information

Segment Information	9 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Information	19. Segment Information The Company allocates resources based on three business operating segments: durable medical equipment, investment management and real estate with general corporate representing unallocated costs and activity to arrive at consolidated operations. Activity not allocated to the segments include, but are not limited to, certain investment and financing activities, professional fees, costs associated with being a public company, acquisition costs and costs associated with executive and corporate management departments, including compensation, benefits, rent and insurance. The following tables illustrate results of operations by segment: For the three months ended March 31, 2021 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 13,117 $ 739 $ 1,276 $ 162 $ (173 ) $ 15,121 Operating costs and expenses: Cost of durable medical equipment sold and services (3,806 ) - - - - (3,806 ) Cost of durable medical equipment rentals (1,657 ) - - - - (1,657 ) Depreciation and amortization (508 ) (109 ) (430 ) (1 ) - (1,048 ) Stock-based compensation (2) - (181 ) - (435 ) - (616 ) Transaction costs (3) (107 ) - - (155 ) - (262 ) Other selling, general and administrative (6,023 ) (723 ) (128 ) (1,410 ) 173 (8,111 ) Total operating expenses (12,101 ) (1,013 ) (558 ) (2,001 ) 173 (15,500 ) Other income (expense): Interest expense (1,280 ) (25 ) (645 ) (1,460 ) 1,231 (2,179 ) Other income (expense) (4,795 ) - - 5,623 (1,231 ) (403 ) Total other expense, net (6,075 ) (25 ) (645 ) 4,163 - (2,582 ) Total pre-tax income (loss) $ (5,059 ) $ (299 ) $ 73 $ 2,324 $ - $ (2,961 ) For the three months ended March 31, 2020 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 14,131 $ 829 $ 1,276 $ 34 $ (34 ) $ 16,236 Operating costs and expenses: Cost of durable medical equipment sold and services (3,966 ) - - - - (3,966 ) Cost of durable medical equipment rentals (2,072 ) - - - - (2,072 ) Depreciation and amortization (472 ) (150 ) (430 ) (1 ) - (1,053 ) Stock-based compensation (2) - 373 - (106 ) - 267 Transaction costs (3) - - - (286 ) - (286 ) Other general and administrative (8,113 ) (522 ) (125 ) (1,409 ) 34 (10,135 ) Total operating expenses (14,623 ) (299 ) (555 ) (1,802 ) 34 (17,245 ) Other income (expense): Interest expense (906 ) (39 ) (654 ) (155 ) - (1,754 ) Other income (expense) - - - (9,303 ) - (9,303 ) Total other expense, net (906 ) (39 ) (654 ) (9,458 ) - (11,057 ) Total pre-tax income (loss) $ (1,398 ) $ 491 $ 67 $ (11,226 ) $ - $ (12,066 ) For the nine months ended March 31, 2021 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 42,270 $ 2,272 $ 3,824 $ 298 $ (309 ) $ 48,355 Operating costs and expenses: Cost of durable medical equipment sold and services (12,716 ) - - - - (12,716 ) Cost of durable medical equipment rentals (5,193 ) - - - - (5,193 ) Depreciation and amortization (1,433 ) (364 ) (1,291 ) (2 ) - (3,090 ) Stock-based compensation (2) - (572 ) - (758 ) - (1,330 ) Transaction costs (3) (194 ) - - (416 ) - (610 ) Other selling, general and administrative (21,822 ) (1,974 ) (380 ) (3,562 ) 309 (27,429 ) Total operating expenses (41,358 ) (2,910 ) (1,671 ) (4,738 ) 309 (50,368 ) Other income (expense): Interest expense (2,676 ) (76 ) (1,942 ) (2,584 ) 1,231 (6,047 ) Other income (expense) (6,631 ) - - 8,201 (1,231 ) 339 Total other income (expense), net (9,307 ) (76 ) (1,942 ) 5,617 - (5,708 ) Total pre-tax income (loss) $ (8,395 ) $ (714 ) $ 211 $ 1,177 $ - $ (7,721 ) For the nine months ended March 31, 2020 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 41,753 $ 2,585 $ 3,820 $ 114 $ (114 ) $ 48,158 Operating costs and expenses: Cost of durable medical equipment sold and services (11,118 ) - - - - (11,118 ) Cost of durable medical equipment rentals (6,522 ) - - - - (6,522 ) Depreciation and amortization (1,449 ) (508 ) (1,291 ) (2 ) - (3,250 ) Stock-based compensation (2) - 100 - (334 ) - (234 ) Transaction costs (3) - - - (863 ) - (863 ) Other selling, general and administrative (22,721 ) (1,604 ) (375 ) (3,738 ) 114 (28,324 ) Total operating expenses (41,810 ) (2,012 ) (1,666 ) (4,937 ) 114 (50,311 ) Other income (expense): Interest expense (2,839 ) (122 ) (1,967 ) (155 ) - (5,083 ) Other income (expense) 3 - - (9,995 ) - (9,992 ) Total other income (expense), net (2,836 ) (122 ) (1,967 ) (10,150 ) - (15,075 ) Total pre-tax income (loss) $ (2,893 ) $ 451 $ 187 $ (14,973 ) $ - $ (17,228 ) (1) The Company’s wholly-owned subsidiary, DME Manager, provides advisory services to DME Inc. and receives consulting fee from DME Inc. for those services. DME Manager is part of general corporate operations while DME Inc. is part of the durable medical equipment segment. The corresponding expense to DME Inc. and revenue to DME Manager are eliminated in consolidation. Beginning December 29, 2020, DME Manager also provides advisory services to Forest and receives a consulting fee from Forest for those services. Both DME Manager and Forest are part of general corporate operations, and the corresponding revenue and expense are eliminated in consolidation. Additionally, Forest owns Series A-1 Preferred Stock and Series A-2 Preferred Stock of HC LLC. Forest is part of general corporate operations while HC LLC is part of the durable medical equipment segment. The corresponding interest expense to HC LLC and interest income to Forest are eliminated in consolidation. (2) Stock-based compensation attributable to the investment management segment is included in investment management expenses in the condensed consolidated statements of operations. Stock-based compensation attributable to the general corporate segment is included in selling, general and administrative expense in the condensed consolidated statements of operations. (3) Transaction costs, which consist of legal and other professional services incurred in connection with consummated and unconsummated transactions, are included in selling, general and administrative expense in the condensed consolidated statements of operations. The following tables illustrate assets by segment: As of March 31, 2021 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Total Fixed assets, net $ 8,061 $ 26 $ 52,271 $ 2 $ 60,360 Identifiable intangible assets, net 7,428 1,929 4,497 - 13,854 Goodwill 50,658 - - - 50,658 Other assets 20,751 2,932 2,660 64,042 90,385 Total $ 86,898 $ 4,887 $ 59,428 $ 64,044 $ 215,257 As of June 30, 2020 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Total Fixed assets, net $ 8,854 $ 35 $ 53,188 $ 4 $ 62,081 Identifiable intangible assets, net 7,974 2,284 4,871 - 15,129 Goodwill 50,010 - - - 50,010 Other assets 19,055 2,654 2,171 44,345 68,225 Total $ 85,893 $ 4,973 $ 60,230 $ 44,349 $ 195,445

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and footnotes which are normally included in the Company’s Form 10-K. These financial statements reflect all adjustments (consisting of normal recurring items or items discussed herein) that management believes are necessary to fairly state results for the interim periods presented. Results of operations for interim periods are not necessarily indicative of annual results of operations. The condensed consolidated balance sheet as of June 30, 2020, presented herein, has been derived from the Company’s audited consolidated financial statements as of and for the year-ended June 30, 2020.
Use of Estimates	Use of Estimates The preparation of these financial statements in accordance with accounting principles generally accepted in the United States of America ( GAAP
Principles of Consolidation	Principles of Consolidation The Company consolidates the assets, liabilities, and operating results of its wholly-owned subsidiaries; majority-owned subsidiaries; and subsidiaries in which we hold a controlling financial interest as of the financial statement date. In most cases, a controlling financial interest reflects ownership of a majority of the voting interests. We consolidate a variable interest entity ( VIE All intercompany accounts and transactions have been eliminated in consolidation. Non-controlling interests in the Company’s subsidiaries are reported as a component of liabilities for mandatorily redeemable interests, temporary equity for contingently redeemable interests or permanent equity, separate from the Company’s equity. See Note 15 – Non-Controlling Interests and Preferred Stock of Subsidiaries. Results of operations attributable to the non-controlling interests are included in the Company’s condensed consolidated statements of operations.
Segments	Segments The Company has three business operating segments: durable medical equipment, investment management and real estate, with general corporate representing unallocated costs and activity to arrive at consolidated operations. The Company regularly reviews each segment for purposes of allocating resources and assessing performance.
Accounts Receivable	Accounts Receivable Substantially all of the accounts receivable balance relates to the durable medical equipment business. Accounts receivable are customer obligations due under normal sales and rental terms and represent the amount estimated to be collected from the customers and, if applicable, the third-party private insurance provider or government program (collectively, Payors The assessment of variable consideration to be constrained is based on estimates, and ultimate losses may vary from current estimates. As adjustments to these estimates become necessary, they are reported in earnings in the periods in which they become known. There were no material adjustments to revenues made in the nine months ended March 31, 2021 relating to prior periods. Changes in constraints on variable consideration are recorded as a component of net revenues. The Company generally does not allow returns from customers for reasons not covered under the manufacturer’s standard warranty. Therefore, there is no provision for sales return reserves. The Company does not have significant bad debt experience with Payors, and therefore the allowance for doubtful accounts is immaterial. As of March 31, 2021 and June 30, 2020, the Company had unbilled receivables of approximately $1.4 million and $1.9 million, respectively, that relate to transactions where the Company has the ultimate right to invoice a Payor under the terms of the arrangement but are not currently billed. Previously disclosed unbilled amounts have been updated to reflect current presentation. These unbilled amounts are included in accounts receivable in the condensed consolidated balance sheets.
Net Income (Loss) Per Share	Net Income (Loss) per Share The following table presents the calculation of basic and diluted earnings (loss) per share: For the three months ended March 31, For the nine months ended March 31, (in thousands except per share amounts) 2021 2020 2021 2020 Net loss $ (2,918 ) $ (11,918 ) $ (7,727 ) $ (17,223 ) Less: net loss attributable to non-controlling interest (158 ) (301 ) (862 ) (676 ) Net loss attributable to Great Elm Group, Inc. $ (2,760 ) $ (11,617 ) $ (6,865 ) $ (16,547 ) Net loss attributable to shareholders per share Basic $ (0.11 ) $ (0.46 ) $ (0.27 ) $ (0.65 ) Diluted $ (0.11 ) $ (0.46 ) $ (0.27 ) $ (0.65 ) Weighted average shares outstanding Basic 25,757 25,430 25,669 25,401 Diluted 25,757 25,430 25,669 25,401 When calculating earnings per share, we are required to adjust for the dilutive effect of common stock equivalents. As of March 31, 2021, the Company had 13,088,564 potential shares of common stock, including 9,656,616 potential shares of Company common stock issuable upon conversion of Convertible Notes (as defined in Note 13 – Convertible Notes) and 3,431,948 potential shares issuable upon the exercise of stock options and vesting of restricted stock units and restricted stock awards that are not included in the diluted net loss per share calculations because to do so would be antidilutive. As of March 31, 2020, the Company had 3,459,602 potential shares of Company common stock issuable upon exercise of the stock options and vesting of restricted stock units and restricted stock awards that are not included in the diluted net loss per share calculations because to do so would be antidilutive. As of March 31, 2021 and 2020, the Company had an aggregate of 732,909 issued shares that are subject to forfeiture by the employee at a nominal price if service and performance milestones are not met. The Company does not account for such shares as being outstanding for accounting purposes since they are unvested and subject to forfeiture.
Restrictions on Subsidiary Dividends	Restrictions on Subsidiary Dividends Under the Senior Note (as defined below) and Subordinated Note (as defined below), CRIC IT Fort Myers, LLC is restricted from paying any dividends until the Notes are satisfied. The ability of DME Inc. to pay dividends is subject to compliance with the restricted payment covenants under the DME Revolver (as defined below).
Concentration of Risk	Concentration of Risk The Company’s net investment revenue and receivables for the periods presented were primarily attributable to the management of one investment vehicle, GECC, which is also a related party. See Note 6 – Related Party Transactions. The Company’s real estate rental revenue is derived from one tenant. 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 March 31, For the nine months ended March 31, 2021 2020 2021 2020 Government Payor A 29% 28% 33% 28% Government Payor B * * * * Third-party Payor C 10% * 11% 10% * Not a significant concentration. The following table summarizes customer concentrations as a percentage of accounts receivable: As of March 31, 2021 June 30, 2020 Government Payor A 22% 20% Government Payor B * 11% Third-party Payor C 13% 11% * Not a significant concentration
Recently Adopted and Issued Accounting Standards	Recently Adopted Accounting Standards Fair Value Measurements In August 2018, the FASB issued Accounting Standards Update ( ASU ) 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement , resulting in various disclosures related to fair value measurements being eliminated, modified or supplemented. ASU 2018-13 is effective for interim and annual periods beginning after December 15, 2019, with an option to early adopt any eliminated or modified disclosures, and to delay adoption of the additional disclosures, until the effective date. The Company early adopted the eliminated and modified disclosures of ASU 2018-13 during the three months ended September 30, 2018 and, as a result, updated its financial statement disclosures accordingly. A modified narrative description of measurement uncertainty for level 3 fair value measurements was applied prospectively, with all other amendments applied retrospectively. The Company has adopted the supplemental disclosures as of July 1, 2020. Recently Issued Accounting Standards Current Expected Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) , which changes the impairment model for financial instruments, including trade receivables from an incurred loss method to a new forward looking approach, based on expected losses. The estimate of expected credit losses will require entities to incorporate considerations of historical experience, current information and reasonable and supportable forecasts. The amendments in this ASU are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company is evaluating the potential impact that the adoption of this ASU will have on its consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU 2020-04 , Reference Rate Reform (Topic 848): facilitation of the Effects of Reference Rate Reform on Financial Reporting, in response to the United Kingdom Financial Conduct Authority which announced the desire to phase out the use of the London Interbank Offered Rate ( LIBOR ) by the end of 2021. The provisions provide optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform on financial reporting due to the cessation of LIBOR if certain criteria are met. If LIBOR ceases to exist, we may need to renegotiate outstanding notes payable outstanding which extend beyond 2021 with the respective counterparties. Adoption of the provisions in ASU 2020-04 are optional and effective from March 12, 2020 through December 31, 2022. We are currently evaluating the impact of this ASU on our financial statements. Accounting for Convertible Instruments In August 2020, the FASB issued ASU 2020-06 , Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity , which simplifies the accounting for convertible instruments by eliminating certain separation models. Under ASU 2020-06, a convertible debt instrument will generally be reported as a single liability at its amortized cost with no separate accounting for embedded conversion features. Consequently, the interest rate of convertible debt instruments will be closer to the coupon interest rate. In addition, ASU 2020-06 eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. The guidance in this ASU are effective for fiscal years beginning after December 31, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the impact of this ASU on its consolidated financial statements.
Revenue	Revenue The revenues from each major source of revenue are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Product and Services Revenue Investment Management Management Fees $ 613 $ 683 $ 1,823 $ 2,201 Administration Fees 115 146 438 384 728 829 2,261 2,585 Durable Medical Equipment Equipment Sales 7,309 7,549 23,728 21,497 Service Revenues 1,297 1,384 3,635 4,228 8,606 8,933 27,363 25,725 Total product and services revenue $ 9,334 $ 9,762 $ 29,624 $ 28,310 Rental Revenues Real Estate Rental Income 1,276 1,276 3,824 3,820 Durable Medical Equipment Medical Equipment Rental Income 4,511 5,198 14,907 16,028 Total rental revenue 5,787 6,474 18,731 19,848 Total $ 15,121 $ 16,236 $ 48,355 $ 48,158 Revenue Accounting Under Topic 606 In determining the appropriate amount of revenue to be recognized under FASB Accounting Standards Codification Topic 606, Revenues Topic 606 Durable Medical Equipment Revenue Equipment Sales and Services Revenues The Company sells durable medical equipment, replacement parts and supplies to customers and recognizes revenue at the point control is transferred through delivery to the customer. Each piece of equipment, part or supply is distinct and separately priced thus they each represent a single performance obligation. The revenue is allocated amongst the performance obligations based upon the relative standalone selling price method, however, items are typically all delivered or supplied together. The customer and, if applicable, the Payors are generally charged at the time that the product is sold, although separate layers of insurance coverage may need to be invoiced before final billings may occur. The Company also provides sleep study services to customers and recognizes revenue when the results of the sleep study are complete as that is when the performance obligation is met. The transaction price on both equipment sales and sleep studies is the amount that the Company expects to receive in exchange for the goods and services provided. Due to the nature of the durable medical equipment business, billing adjustments customarily occur during the collections process when explanations of benefits are received by Payors, and as amounts are deferred to secondary Payors or to patient responsibility. As such, we constrain the transaction price for the difference between the gross charge and what we believe we will collect from Payors and from patients. The transaction price therefore is predominantly based on contractual payment rates determined by the Payors. The Company does not generally contract with uninsured customers. We determine our estimates of billing adjustments based upon contractual agreements, our policies and historical experience. While the rates are fixed for the product or service with the customer and the Payors, such amounts typically include co-payments, co-insurance and deductibles, which vary in amounts, from the patient customer. The Company includes in the transaction price only the amount that the Company expects to be entitled, which is substantially all of the Payor billings at contractual rates. The transaction price is initially constrained by the amount of customer co-payments we estimate will not be collected. Due to the nature of the industry and the reimbursement environment in which the Company operates, certain estimates are required to record net revenue and accounts receivable. Inherent in these estimates is the risk that they will have to be revised or updated as additional information becomes available. Specifically, the complexity of many third-party billing arrangements and the uncertainty of reimbursement amounts for certain services from certain Payors may result in adjustments to amounts originally recorded. Such adjustments are typically identified and recorded at the point of cash application or claim denial. The Company constrains revenue for these estimated adjustments. There were no material changes in estimates recorded in the nine months ended March 31, 2021, relating to prior periods. The payment terms and conditions of customer contracts vary by customer type and the products and services offered. The Company may provide shipping services prior to the point of delivery and has concluded that the services represent a fulfilment activity and not a performance obligation. Returns and refunds are not accepted on either equipment sales or sleep study services. The Company does not offer warranties to customers in excess of the manufacturer’s warranty. Any taxes due upon sale of the products or services are not recognized as revenue. The Company does not incur contract acquisition costs. The Company does not have any partially or unfilled performance obligations related to contracts with customers. However, during the quarter ended June 30, 2020, the Company applied for and received $4.4 million in advanced payments from the Centers for Medicare and Medicaid Services under their Accelerated and Advance Payment Program, which was expanded to increase cash flow to providers of services and suppliers impacted by the COVID-19 pandemic. These advance payments will begin to be recouped against the Company’s future Medicare and Medicaid claims beginning in the fourth quarter of our fiscal year 2021. These amounts are included within deferred revenue on the condensed consolidated balance sheet. The Company has no other contract liabilities as of March 31, 2021 or December 31, 2020. Included in sales and services revenue are unbilled amounts for which the revenue recognition criteria had been met as of period end but were not yet billed to the Payor. The estimate of net unbilled rental revenue recognized is based on historical trends and estimates of future collectability. As of March 31, 2021 and June 30, 2020, net unbilled sales and services revenue is approximately and $1.2 million, respectively, and is included in accounts receivable. Investment Management Revenue The Company recognizes revenue from its investment management business at amounts that reflect the consideration to which it expects to be entitled in exchange for providing services to its customer. Investment management revenue primarily consists of fees based on a percentage of assets under management; fees based on the performance of managed assets; and administrative fees. Fees are based on agreements with each investment product and may be terminated at any time by either party subject to the specific terms of each respective agreement. Management Fees The Company earns management fees based on the investment management agreements GECM has with GECC and other private funds managed by GECM (collectively, the “Funds”). The performance obligation is satisfied over time as the services are rendered, since the Funds simultaneously receive and consume the benefits provided as GECM performs services. Management fee rates range from 1% to 1.5% of the management fee assets specified with each agreement. Based on the terms of the specific agreement, management fees may be calculated and billed in advance or in arrears of the period, no less frequently than quarterly. Management fee revenue is recognized over time as the services are provided. Incentive Fees The Company earns incentive fees based on the investment management agreements GECM has with GECC and separately managed accounts. Where an investment management agreement includes both management fees and incentive fees, the performance obligation is considered to be a single obligation for both fees. Incentive fees are variable consideration associated with the GECC investment management agreement. Incentive fees are recognized based on investment performance during the period, subject to the achievement of minimum return levels or high-water marks, in accordance with the terms of the respective investment management agreements. Incentive fees range from 5.0% to 20.0% of the performance-based metric specified within each agreement. Because of the uncertainty of when incentive fees will be collected due to market conditions and investment performance, incentive fees are fully constrained and not recorded until received and the probability of significant reversal of the fees is eliminated Administration Fees The Company earns administration fees based on the administration agreement GECM has with GECC whereby GECC reimburses GECM for costs incurred in performing administrative functions for GECC. This revenue is recognized over time as the services are performed. Administrative fees are billed quarterly in arrears, which is consistent with the timing of the delivery of services and reflect agreed upon rates for the services provided. The services are accounted for as a single performance obligation that is a series of distinct services with substantially the same pattern of transfer as the services are provided on a daily basis. Revenue Accounting Under Topic 842 Durable Medical Equipment Revenue Equipment Rental Revenue Under FASB Accounting Standards Codification Topic 842, Leases Topic 842 Certain customer co-payments are included in revenue when considered probable of payment. The lease term begins on the date products are delivered to patients and are recorded at amounts estimated to be received under reimbursement arrangements with third-party payors, including Medicare, private payors, and Medicaid. Due to the nature of the industry and the reimbursement environment in which the Company operates, certain estimates are required to record net revenue and accounts receivable at their net realizable values. Inherent in these estimates is the risk that they will have to be revised or updated as additional information becomes available. Specifically, the complexity of many third-party billing arrangements and the uncertainty of reimbursement amounts for certain services from certain Payors may result in adjustments to amounts originally recorded. Such adjustments are typically identified and recorded at the point of cash application or claim denial. There were no material changes in estimates recorded in the nine months ended March 31, 2021, relating to prior periods. Although invoicing typically occurs at the beginning of the monthly rental period, we recognize revenue from rentals on a daily basis. Since rental agreements can commence at any time during a given month, we defer revenue related to the remaining monthly rental period as of period end. Deferred revenue related to rentals was $1.0 million and $1.3 million as of March 31, 2021 and June 30, 2020, respectively. Included in rental revenue are unbilled amounts for which the revenue recognition criteria had been met as of period end but were not yet billed to the Payor. Net unbilled rental revenue is recognized to the extent payment is probable. As of March 31, 2021 and June 30, 2020, net unbilled rental revenue is approximately $0.5 million and $0.7 million, respectively, and is included in accounts receivable. Real Estate Revenue Rental Revenue Consistent with the leases of durable medical equipment, the Company recognizes rental revenue on a straight-line basis over the non-cancelable term of the lease. Under the terms of the lease, the Company may recover from the tenant certain expenses, including: real estate taxes, insurance and other operating expenses. The recovery of these expenses is recognized in rental income in the accompanying condensed consolidated statements of operations, in the same periods as the expenses are incurred. These expenses recognized in both revenue and expense may fluctuate from period to period based on actual expense amounts.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted earnings (loss) per share: For the three months ended March 31, For the nine months ended March 31, (in thousands except per share amounts) 2021 2020 2021 2020 Net loss $ (2,918 ) $ (11,918 ) $ (7,727 ) $ (17,223 ) Less: net loss attributable to non-controlling interest (158 ) (301 ) (862 ) (676 ) Net loss attributable to Great Elm Group, Inc. $ (2,760 ) $ (11,617 ) $ (6,865 ) $ (16,547 ) Net loss attributable to shareholders per share Basic $ (0.11 ) $ (0.46 ) $ (0.27 ) $ (0.65 ) Diluted $ (0.11 ) $ (0.46 ) $ (0.27 ) $ (0.65 ) Weighted average shares outstanding Basic 25,757 25,430 25,669 25,401 Diluted 25,757 25,430 25,669 25,401
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 March 31, For the nine months ended March 31, 2021 2020 2021 2020 Government Payor A 29% 28% 33% 28% Government Payor B * * * * Third-party Payor C 10% * 11% 10% * Not a significant concentration. The following table summarizes customer concentrations as a percentage of accounts receivable: As of March 31, 2021 June 30, 2020 Government Payor A 22% 20% Government Payor B * 11% Third-party Payor C 13% 11% * Not a significant concentration

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Summary of Major Source of Revenue	The revenues from each major source of revenue are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Product and Services Revenue Investment Management Management Fees $ 613 $ 683 $ 1,823 $ 2,201 Administration Fees 115 146 438 384 728 829 2,261 2,585 Durable Medical Equipment Equipment Sales 7,309 7,549 23,728 21,497 Service Revenues 1,297 1,384 3,635 4,228 8,606 8,933 27,363 25,725 Total product and services revenue $ 9,334 $ 9,762 $ 29,624 $ 28,310 Rental Revenues Real Estate Rental Income 1,276 1,276 3,824 3,820 Durable Medical Equipment Medical Equipment Rental Income 4,511 5,198 14,907 16,028 Total rental revenue 5,787 6,474 18,731 19,848 Total $ 15,121 $ 16,236 $ 48,355 $ 48,158

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Schedule of Activity and Outstanding Balances Between Managed Investment Products and Company	The following tables summarize activity and outstanding balances between the managed investment products and the Company. For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Change in unrealized loss on investment in GECC $ (1,112 ) $ (9,794 ) $ (454 ) $ (11,603 ) Dividend income from GECC 554 489 2,400 1,567 As of (in thousands) March 31, 2021 June 30, 2020 Dividends receivable from GECC $ 554 $ 163 Investment management revenues receivable 726 746 Receivable for reimbursable expenses paid 207 158

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on Recurring and Non-recurring Basis	The assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized in the tables below: Fair Value as of March 31, 2021 Level 1 Level 2 Level 3 Total Assets: Investment in GECC $ 18,835 $ - $ - $ 18,835 Equity investments of Consolidated Funds $ 25,625 $ - $ - $ 25,625 Total assets $ 44,460 $ - $ - $ 44,460 Liabilities: Participation feature of HC LLC Series A-2 Preferred Stock $ - $ - * * Contingent consideration liability $ - $ - $ 397 $ 397 Total liabilities $ - $ - $ 397 $ 397 *Balance eliminates in consolidation. Fair Value as of June 30, 2020 (in thousands) Level 1 Level 2 Level 3 Total Assets: Investment in GECC $ 8,705 $ - $ - $ 8,705 Total assets $ 8,705 $ - $ - $ 8,705 Liabilities: Contingent consideration liability $ - $ - $ - $ - Total liabilities $ - $ - $ - $ -
Reconciliation of Changes in Contingent Consideration, Level 3 Liability	The following is a reconciliation of changes in contingent consideration, a Level 3 liability, for the nine months ended March 31, 2021 and 2020: For the nine months ended March 31, (in thousands) 2021 2020 Beginning balance $ - $ 1,135 Additions 397 - Payments - - Change in fair value - (1,135 ) Ending balance $ 397 $ -

Fixed Assets (Tables)

Fixed Assets (Tables)	9 Months Ended
	Mar. 31, 2021
Property Plant And Equipment [Abstract]
Summary of Fixed Assets	The following tables detail the Company’s fixed assets (in thousands) March 31, 2021 June 30, 2020 Real Estate Assets Buildings $ 43,355 $ 43,355 Land and site improvements 9,170 9,170 Tenant improvements 3,500 3,500 56,025 56,025 Accumulated depreciation (3,754 ) (2,837 ) Net carrying amount $ 52,271 $ 53,188 Property and Equipment Leasehold improvements $ 830 $ 858 Vehicles 232 237 Computer equipment and software 356 277 Furniture and fixtures 391 417 Sleep study equipment 577 589 2,386 2,378 Accumulated depreciation (1,445 ) (968 ) Net carrying amount $ 941 $ 1,410 Medical Equipment Held for Rental Medical equipment held for rental $ 14,501 $ 13,828 Accumulated depreciation (7,353 ) (6,345 ) Net carrying amount $ 7,148 $ 7,483
Summary of Reconciles Depreciation Expense	The following table reconciles depreciation expense included in the following lines of the condensed consolidated statements of operations to total depreciation expense for each period presented. For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Depreciation and amortization $ 510 $ 478 $ 1,454 $ 1,433 Cost of durable medical equipment rentals 1,478 1,882 4,683 5,895 Total depreciation expense $ 1,988 $ 2,360 $ 6,137 $ 7,328

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Value of Goodwill	The changes in the carrying value of goodwill are as follows: For the nine months ended March 31, (in thousands) 2021 2020 Beginning balance $ 50,010 $ 50,397 Acquisition of businesses 648 - Purchase accounting adjustment - 36 Ending balance $ 50,658 $ 50,433
Summary of Identifiable Intangible Assets	The following tables provide details associated with the Company’s identifiable intangible assets subject to amortization (dollar amounts in thousands): As of March 31, 2021 As of June 30, 2020 (in thousands) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Durable Medical Equipment Tradename $ 9,056 $ (2,273 ) $ 6,783 $ 8,800 $ (1,613 ) $ 7,187 Hospital Contracts 90 (4 ) 86 - - - Non-compete agreements 1,370 (811 ) 559 1,360 (573 ) 787 10,516 (3,088 ) 7,428 10,160 (2,186 ) 7,974 Investment Management Investment management agreement 3,900 (2,200 ) 1,700 3,900 (1,887 ) 2,013 Assembled workforce 526 (297 ) 229 526 (255 ) 271 4,426 (2,497 ) 1,929 4,426 (2,142 ) 2,284 Real Estate In-place lease 6,028 (1,531 ) 4,497 6,028 (1,157 ) 4,871 Total $ 20,970 $ (7,116 ) $ 13,854 $ 20,614 $ (5,485 ) $ 15,129
Summary of Amortization Expense of Identifiable Intangible Assets	Aggregate Amortization Expense (in thousands) 2021 2020 For the three months ended March 31, $ 1,080 $ 574 For the nine months ended March 31, 1,631 1,816 Estimated Future Amortization Expense (in thousands) For the three months ending June 30, 2021 $ 553 For the year ending June 30, 2022 2,070 For the year ending June 30, 2023 1,967 For the year ending June 30, 2024 1,768 For the year ending June 30, 2025 1,658 Thereafter 5,838 Total $ 13,854

Lessor Operating Leases (Tables

Lessor Operating Leases (Tables)	9 Months Ended
	Mar. 31, 2021
Lessor Disclosure [Abstract]
Summary of Rental Income from Real Estate Leases	Rental income from real estate leases is summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Revenues from base rents $ 1,151 $ 1,151 $ 3,453 $ 3,453 Revenues from additional rental payments 125 121 371 367 Total rental revenues $ 1,276 $ 1,272 $ 3,824 $ 3,820
Summary of Base Rents for Remaining Lease Term	The following table summarizes the base rents for the remaining lease term: (in thousands) Base Rent Payments For the three months ending June 30, 2021 $ 1,068 For the year ending June 30, 2022 4,312 For the year ending June 30, 2023 4,419 For the year ending June 30, 2024 4,529 For the year ending June 30, 2025 4,648 Thereafter 24,025 Total base rent $ 43,001

Lessee Operating Leases (Tables

Lessee Operating Leases (Tables)	9 Months Ended
	Mar. 31, 2021
Lessee Disclosure [Abstract]
Schedule of Additional Details of Lease Presented in Balance Sheet	The following table provides additional details of the leases presented in the balance sheets: (in thousands) March 31, 2021 June 30, 2020 Facilities Right of use assets $ 5,135 $ 6,066 Current portion of lease liabilities 1,770 1,371 Lease liabilities, net of current portion 3,637 4,989 Total liabilities $ 5,407 $ 6,360 Weighted-average remaining life 3.4 years 4.4 years Weighted-average discount rate 11.4 % 11.7 % Vehicles Right of use assets $ 104 $ 80 Current portion of lease liabilities 29 18 Lease liabilities, net of current portion 75 62 Total liabilities $ 104 $ 80 Weighted-average remaining life 3.6 years 3.7 years Weighted-average discount rate 10.1 % 12.3 % Equipment Right of use assets $ 37 $ 93 Current portion of lease liabilities 29 34 Lease liabilities, net of current portion 8 59 Total liabilities $ 37 $ 93 Weighted-average remaining life .9 years 2.6 years Weighted-average discount rate 10.8 % 12.5 %
Schedule of Operating Lease Cost	Operating lease costs are included in the operating expense associated with the business segment leasing the asset on the statements of operations and are included in cash flows from operating activities on the statements of cash flows. Certain operating leases include variable lease costs which are not material and are included in operating lease costs. Additional details are presented in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Facilities Operating lease cost $ 559 $ 514 $ 1,638 $ 1,561 Cash paid for operating leases 527 524 1,616 1,535 Vehicles Operating lease cost $ 23 $ 6 $ 37 $ 20 Cash paid for operating leases 9 6 23 20 Equipment Operating lease cost $ 12 $ 11 $ 34 $ 33 Cash paid for operating leases 12 11 34 33
Schedule of Company's Undiscounted Cash Payment Obligations for Operating Lease	The following table summarizes the Company’s undiscounted cash payment obligations for its operating leases: (in thousands) For the three months ending June 30, 2021 $ 606 For the year ending June 30, 2022 2,271 For the year ending June 30, 2023 1,570 For the year ending June 30, 2024 1,127 For the year ending June 30, 2025 635 Thereafter 480 Total lease payments $ 6,689 Imputed interest (1,141 ) Total lease liabilities $ 5,548

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2021
Debt Instrument [Line Items]
Schedule of Related Party Borrowings of Subsidiaries	Related party borrowings of the Company’s subsidiaries are summarized in the following table: (in thousands) Subsidiaries March 31, 2021 June 30, 2020 Corbel Facility DME Inc. and subsidiaries $ - $ 25,106 GP Corp. Note GP Corp. - 3,072 Total principal $ - $ 28,178 Unamortized debt issuance cost - (275 ) Total long-term related party notes payable - 27,903 Less current portion of related party notes payable - (1,418 ) Related party notes payable, net of current portion $ - $ 26,485
Schedule of Subsidiaries' Other Outstanding Borrowings	The Company’s subsidiaries’ other outstanding borrowings are summarized in the following table: (in thousands) Subsidiaries March 31, 2021 June 30, 2020 DME Revolver DME Inc. and subsidiaries $ - $ 3,900 Equipment Financing DME Inc. and subsidiaries 2,238 2,230 Senior Note CRIC IT 48,281 50,004 Subordinated Note CRIC IT 4,253 3,803 Total principal $ 54,772 $ 59,937 Unamortized debt premiums 3,263 3,251 Unamortized debt discounts and issuance costs (1,796 ) (1,956 ) Total other outstanding borrowings 56,239 61,232 Less current portion of other outstanding borrowings (4,615 ) (8,255 ) Other outstanding borrowings, net of current portion $ 51,624 $ 52,977
Schedule of Aggregate Future Required Principal Debt Repayments	The Company’s aggregate future required principal debt repayments are summarized in the following table: (in thousands) Principal Due For the three months ending June 30, 2021 $ 1,552 For the year ending June 30, 2022 3,738 For the year ending June 30, 2023 2,759 For the year ending June 30, 2024 2,906 For the year ending June 30, 2025 3,126 Thereafter 52,708 Total $ 66,789 Outstanding principal on related party borrowings $ - Outstanding principal on other borrowings 54,772 Future interest to be paid-in-kind 12,017 Total future required principal payments $ 66,789
Corbel Facility
Debt Instrument [Line Items]
Schedule of Payments and Interest Expense Incurred	Principal payments and interest expense incurred on the Corbel Facility are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Principal payments $ - $ 807 $ 25,106 $ 2,123 Interest expense - 793 1,296 3,251
GP Corp. Note
Debt Instrument [Line Items]
Schedule of Payments and Interest Expense Incurred	Payments and interest expense incurred on the GP Corp. Note are summarized in the following table: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 Principal payments $ - $ - $ - $ - Interest expense 22 42 73 130

Non-Controlling Interests and_2

Non-Controlling Interests and Preferred Stock of Subsidiaries (Tables)	9 Months Ended
	Mar. 31, 2021
Noncontrolling Interest [Abstract]
Summary of Non-controlling Interests Balance on Condensed Consolidated Balance Sheet	. The following table summarizes the non-controlling interests of subsidiary balances on the condensed consolidated balance sheets: (in thousands) March 31, 2021 June 30, 2020 DME Inc. Temporary equity 2,055 3,890 Permanent equity 2,055 3,890 Total DME Inc. 4,110 7,780 GP Corp. Permanent equity (187 ) (782 ) GE FM Holdings Permanent equity 823 778 GESOF Permanent equity 3,126 - Forest Permanent equity 3,720 - Total Non-controlling interests $ 11,592 $ 7,776
Summary of Non-controlling Interests Balance on Condensed Consolidated Statements of Operations	The following table summarizes the net income (loss) attributable to the non-controlling interests on the condensed consolidated statements of operations: For the three months ended March 31, For the nine months ended March 31, (in thousands) 2021 2020 2021 2020 DME Inc. Temporary equity (509 ) (139 ) (846 ) (297 ) Permanent equity (509 ) (139 ) (846 ) (297 ) Total DME Inc. (1,018 ) (278 ) (1,692 ) (594 ) GP Corp. Permanent equity (26 ) (37 ) (86 ) (122 ) GE FM Holdings Permanent equity 15 14 45 40 GESOF Permanent equity (148 ) - (148 ) - Forest Permanent equity 1,019 - 1,019 - Total $ (158 ) $ (301 ) $ (862 ) $ (676 )
Summary of Preferred Stock of Subsidiary Balances on Condensed Consolidated Balance Sheets	The following table summarizes the preferred stock of subsidiary balances on the condensed consolidated balance sheets: (in thousands) March 31, 2021 June 30, 2020 HC LLC Series A-1 Preferred Stock 1,556 - Series A-2 Preferred Stock - - Total HC LLC 1,556 - Forest Forest Preferred Stock 33,918 - Total preferred stock classified as liability $ 35,474 $ -

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Activity of Restricted Stock Award	The activity of the Company’s restricted stock awards and units for the nine months ended March 31, 2021 was as follows: Restricted Stock Awards and Restricted Stock Units Restricted Stock (in thousands) Weighted Average Grant Date Fair Value Outstanding at June 30, 2020 941 $ 3.71 Granted 305 2.66 Vested (307 ) 2.61 Forfeited - - Outstanding at March 31, 2021 939 $ 3.73
Summary of Option Activity	The following table summarizes the Company’s option award activity as of and through March 31, 2021: Options Shares (in thousands) Weighted Average Exercise Price Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value (in thousands) Outstanding at June 30, 2020 2,475 $ 3.69 5.51 $ - Options granted 18 3.51 - - Exercised - - - - Forfeited, cancelled or expired - - - - Outstanding at March 31, 2021 2,493 $ 3.69 5.01 $ - Exercisable at March 31, 2021 1,887 $ 3.65 4.36 $ - Vested and expected to vest as of March 31, 2021 2,493 $ 3.69 4.76 $ -

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Results of Operations by Segment	The following tables illustrate results of operations by segment: For the three months ended March 31, 2021 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 13,117 $ 739 $ 1,276 $ 162 $ (173 ) $ 15,121 Operating costs and expenses: Cost of durable medical equipment sold and services (3,806 ) - - - - (3,806 ) Cost of durable medical equipment rentals (1,657 ) - - - - (1,657 ) Depreciation and amortization (508 ) (109 ) (430 ) (1 ) - (1,048 ) Stock-based compensation (2) - (181 ) - (435 ) - (616 ) Transaction costs (3) (107 ) - - (155 ) - (262 ) Other selling, general and administrative (6,023 ) (723 ) (128 ) (1,410 ) 173 (8,111 ) Total operating expenses (12,101 ) (1,013 ) (558 ) (2,001 ) 173 (15,500 ) Other income (expense): Interest expense (1,280 ) (25 ) (645 ) (1,460 ) 1,231 (2,179 ) Other income (expense) (4,795 ) - - 5,623 (1,231 ) (403 ) Total other expense, net (6,075 ) (25 ) (645 ) 4,163 - (2,582 ) Total pre-tax income (loss) $ (5,059 ) $ (299 ) $ 73 $ 2,324 $ - $ (2,961 ) For the three months ended March 31, 2020 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 14,131 $ 829 $ 1,276 $ 34 $ (34 ) $ 16,236 Operating costs and expenses: Cost of durable medical equipment sold and services (3,966 ) - - - - (3,966 ) Cost of durable medical equipment rentals (2,072 ) - - - - (2,072 ) Depreciation and amortization (472 ) (150 ) (430 ) (1 ) - (1,053 ) Stock-based compensation (2) - 373 - (106 ) - 267 Transaction costs (3) - - - (286 ) - (286 ) Other general and administrative (8,113 ) (522 ) (125 ) (1,409 ) 34 (10,135 ) Total operating expenses (14,623 ) (299 ) (555 ) (1,802 ) 34 (17,245 ) Other income (expense): Interest expense (906 ) (39 ) (654 ) (155 ) - (1,754 ) Other income (expense) - - - (9,303 ) - (9,303 ) Total other expense, net (906 ) (39 ) (654 ) (9,458 ) - (11,057 ) Total pre-tax income (loss) $ (1,398 ) $ 491 $ 67 $ (11,226 ) $ - $ (12,066 ) For the nine months ended March 31, 2021 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 42,270 $ 2,272 $ 3,824 $ 298 $ (309 ) $ 48,355 Operating costs and expenses: Cost of durable medical equipment sold and services (12,716 ) - - - - (12,716 ) Cost of durable medical equipment rentals (5,193 ) - - - - (5,193 ) Depreciation and amortization (1,433 ) (364 ) (1,291 ) (2 ) - (3,090 ) Stock-based compensation (2) - (572 ) - (758 ) - (1,330 ) Transaction costs (3) (194 ) - - (416 ) - (610 ) Other selling, general and administrative (21,822 ) (1,974 ) (380 ) (3,562 ) 309 (27,429 ) Total operating expenses (41,358 ) (2,910 ) (1,671 ) (4,738 ) 309 (50,368 ) Other income (expense): Interest expense (2,676 ) (76 ) (1,942 ) (2,584 ) 1,231 (6,047 ) Other income (expense) (6,631 ) - - 8,201 (1,231 ) 339 Total other income (expense), net (9,307 ) (76 ) (1,942 ) 5,617 - (5,708 ) Total pre-tax income (loss) $ (8,395 ) $ (714 ) $ 211 $ 1,177 $ - $ (7,721 ) For the nine months ended March 31, 2020 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Intercompany Eliminations (1) Consolidated Total Revenue: Total revenue $ 41,753 $ 2,585 $ 3,820 $ 114 $ (114 ) $ 48,158 Operating costs and expenses: Cost of durable medical equipment sold and services (11,118 ) - - - - (11,118 ) Cost of durable medical equipment rentals (6,522 ) - - - - (6,522 ) Depreciation and amortization (1,449 ) (508 ) (1,291 ) (2 ) - (3,250 ) Stock-based compensation (2) - 100 - (334 ) - (234 ) Transaction costs (3) - - - (863 ) - (863 ) Other selling, general and administrative (22,721 ) (1,604 ) (375 ) (3,738 ) 114 (28,324 ) Total operating expenses (41,810 ) (2,012 ) (1,666 ) (4,937 ) 114 (50,311 ) Other income (expense): Interest expense (2,839 ) (122 ) (1,967 ) (155 ) - (5,083 ) Other income (expense) 3 - - (9,995 ) - (9,992 ) Total other income (expense), net (2,836 ) (122 ) (1,967 ) (10,150 ) - (15,075 ) Total pre-tax income (loss) $ (2,893 ) $ 451 $ 187 $ (14,973 ) $ - $ (17,228 ) (1) The Company’s wholly-owned subsidiary, DME Manager, provides advisory services to DME Inc. and receives consulting fee from DME Inc. for those services. DME Manager is part of general corporate operations while DME Inc. is part of the durable medical equipment segment. The corresponding expense to DME Inc. and revenue to DME Manager are eliminated in consolidation. Beginning December 29, 2020, DME Manager also provides advisory services to Forest and receives a consulting fee from Forest for those services. Both DME Manager and Forest are part of general corporate operations, and the corresponding revenue and expense are eliminated in consolidation. Additionally, Forest owns Series A-1 Preferred Stock and Series A-2 Preferred Stock of HC LLC. Forest is part of general corporate operations while HC LLC is part of the durable medical equipment segment. The corresponding interest expense to HC LLC and interest income to Forest are eliminated in consolidation. (2) Stock-based compensation attributable to the investment management segment is included in investment management expenses in the condensed consolidated statements of operations. Stock-based compensation attributable to the general corporate segment is included in selling, general and administrative expense in the condensed consolidated statements of operations. (3) Transaction costs, which consist of legal and other professional services incurred in connection with consummated and unconsummated transactions, are included in selling, general and administrative expense in the condensed consolidated statements of operations.
Schedule of Assets by Segment	The following tables illustrate assets by segment: As of March 31, 2021 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Total Fixed assets, net $ 8,061 $ 26 $ 52,271 $ 2 $ 60,360 Identifiable intangible assets, net 7,428 1,929 4,497 - 13,854 Goodwill 50,658 - - - 50,658 Other assets 20,751 2,932 2,660 64,042 90,385 Total $ 86,898 $ 4,887 $ 59,428 $ 64,044 $ 215,257 As of June 30, 2020 (in thousands) Durable Medical Equipment Investment Management Real Estate General Corporate Total Fixed assets, net $ 8,854 $ 35 $ 53,188 $ 4 $ 62,081 Identifiable intangible assets, net 7,974 2,284 4,871 - 15,129 Goodwill 50,010 - - - 50,010 Other assets 19,055 2,654 2,171 44,345 68,225 Total $ 85,893 $ 4,973 $ 60,230 $ 44,349 $ 195,445

Organization (Details)

Organization (Details)	9 Months Ended
	Mar. 31, 2021Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of business operating segments	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2021USD ($)Segmentshares	Mar. 31, 2020USD ($)shares	Jun. 30, 2020USD ($)
Significant Accounting Policies [Line Items]
Number of business operating segments | Segment			3
Revenue reserve constraints on variable consideration | $	$ 4.7		$ 4.7		$ 4.8
Reduction in revenue | $	2.2	$ 1.1	4.9	$ 2.6
Unbilled receivables | $	$ 1.4		$ 1.4		$ 1.9
Potentially dilutive shares excluded from diluted net loss per share			13,088,564
Number of shares subject to forfeiture			732,909	732,909
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201813Member
Change in accounting principle, accounting standards update, adopted [true false]	true		true
Change in accounting principle, accounting standards update, adoption date	Jul. 1, 2020		Jul. 1, 2020
Common Stock Issuable upon Conversion of Convertible Notes
Significant Accounting Policies [Line Items]
Potentially dilutive shares excluded from diluted net loss per share			9,656,616
Common Stock Issuable upon Exercise of Stock Options and Vesting of Restricted Stock Units and Restricted Stock Awards
Significant Accounting Policies [Line Items]
Potentially dilutive shares excluded from diluted net loss per share			3,431,948	3,459,602

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Accounting Policies [Abstract]
Net loss	$ (2,918)	$ (11,918)	$ (7,727)	$ (17,223)
Less: net loss attributable to non-controlling interest	(158)	(301)	(862)	(676)
Net loss attributable to Great Elm Group, Inc.	$ (2,760)	$ (11,617)	$ (6,865)	$ (16,547)
Net loss attributable to shareholders per share
Basic	$ (0.11)	$ (0.46)	$ (0.27)	$ (0.65)
Diluted	$ (0.11)	$ (0.46)	$ (0.27)	$ (0.65)
Weighted average shares outstanding
Basic	25,757	25,430	25,669	25,401
Diluted	25,757	25,430	25,669	25,401

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summarizes Customer Concentrations as Percentage of Revenues (Details) - Revenues - Customer Concentrations	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Government Payor A
Significant Accounting Policies [Line Items]
Concentration risk, percentage	29.00%	28.00%	33.00%	28.00%
Third-party Payor C
Significant Accounting Policies [Line Items]
Concentration risk, percentage	10.00%		11.00%	10.00%

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Summarizes Customer Concentrations as Percentage of Accounts Receivable (Details) - Accounts Receivable - Customer Concentrations	9 Months Ended	12 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Government Payor A
Significant Accounting Policies [Line Items]
Concentration risk, percentage	22.00%	20.00%
Government Payor B
Significant Accounting Policies [Line Items]
Concentration risk, percentage		11.00%
Third-party Payor C
Significant Accounting Policies [Line Items]
Concentration risk, percentage	13.00%	11.00%

Revenue - Summary of Major Sour

Revenue - Summary of Major Source of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Total rental revenue	$ 5,787	$ 6,474	$ 18,731	$ 19,848
Total revenues	15,121	16,236	48,355	48,158
Investment Management
Disaggregation Of Revenue [Line Items]
Total product and services revenue	728	829	2,261	2,585
Investment Management | Management Fees
Disaggregation Of Revenue [Line Items]
Total product and services revenue	613	683	1,823	2,201
Investment Management | Administration Fees
Disaggregation Of Revenue [Line Items]
Total product and services revenue	115	146	438	384
Durable Medical Equipment | Equipment Sales
Disaggregation Of Revenue [Line Items]
Total product and services revenue	7,309	7,549	23,728	21,497
Durable Medical Equipment | Service Revenues
Disaggregation Of Revenue [Line Items]
Total product and services revenue	1,297	1,384	3,635	4,228
Durable Medical Equipment | Sales and Services
Disaggregation Of Revenue [Line Items]
Total product and services revenue	8,606	8,933	27,363	25,725
Durable Medical Equipment | Rental
Disaggregation Of Revenue [Line Items]
Total rental revenue	4,511	5,198	14,907	16,028
Durable Medical Equipment | Medical Equipment
Disaggregation Of Revenue [Line Items]
Total rental revenue	4,511	5,198	14,907	16,028
Investment Management and Durable Medical Equipment
Disaggregation Of Revenue [Line Items]
Total product and services revenue	9,334	9,762	29,624	28,310
Real Estate | Rental
Disaggregation Of Revenue [Line Items]
Total rental revenue	$ 1,276	$ 1,276	$ 3,824	$ 3,820

Revenue - Additional Informatio

Revenue - Additional Information (Details)	3 Months Ended	9 Months Ended
	Jun. 30, 2020USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Disaggregation Of Revenue [Line Items]
Contract with customer liability		$ 0	$ 0
Accrued incentive fees as per the terms of investment management agreements		$ 9,300,000
Minimum
Disaggregation Of Revenue [Line Items]
Incentive fee earned as percentage on investment performance		5.00%
Equipment Lease Term		10 months
Maximum
Disaggregation Of Revenue [Line Items]
Incentive fee earned as percentage on investment performance		20.00%
Equipment Lease Term		36 months
Funds | Minimum
Disaggregation Of Revenue [Line Items]
Percentage of management fee rates		1
Funds | Maximum
Disaggregation Of Revenue [Line Items]
Percentage of management fee rates		1.5
Equipment Sales | Accounts Receivable
Disaggregation Of Revenue [Line Items]
Unbilled revenue	$ 1,200,000	$ 900,000
Equipment Rental
Disaggregation Of Revenue [Line Items]
Contract with customer liability	1,300,000	1,000,000
Equipment Rental | Accounts Receivable
Disaggregation Of Revenue [Line Items]
Unbilled revenue	700,000	$ 500,000
Centers For Medicare And Medicaid Services
Disaggregation Of Revenue [Line Items]
Proceeds from federal agency	$ 4,400,000

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details)	Mar. 01, 2021USD ($)Location	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2019USD ($)
Business Acquisition [Line Items]
Total purchase consideration, net of cash acquired		$ 748,000
Contingent consideration fair value			$ 0
Goodwill		50,658,000	$ 50,010,000	$ 50,433,000	$ 50,397,000
Maximum additional consideration payable		$ 2,100,000
AMPM
Business Acquisition [Line Items]
Acquisition date	Mar. 1, 2021
Number of respiratory products and services locations | Location	9
Total purchase consideration	$ 1,100,000
Total purchase consideration, net of cash acquired	400,000
Escrow for potential satisfaction of certain indemnification obligations	300,000
Contingent consideration fair value	400,000
Goodwill	700,000
Maximum additional consideration payable	$ 2,100,000
AMPM | Volatility
Business Acquisition [Line Items]
Contingent consideration, fair value estimation	40	40
AMPM | Discount Rate
Business Acquisition [Line Items]
Contingent consideration, fair value estimation	10.3	10.3
AMPM | Trade Names
Business Acquisition [Line Items]
Intangible assets	$ 400,000

Holding Company Reorganizatio_2

Holding Company Reorganization and Financing Transaction - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 29, 2020	Mar. 31, 2021
Reorganizations [Line Items]
Reorganization date		Dec. 21, 2020
Plan of reorganization, description of equity securities issued or to be issued		On December 29, 2020, pursuant to the terms of the Agreement and Plan of Merger, dated as of December 21, 2020, among Forest, the Company and Forest Merger Sub, Inc., a newly created entity for the purpose of facilitating the Merger, (as it may be amended from time to time, the Merger Agreement), the transactions contemplated by the Merger Agreement (the Transactions) were consummated. As a result of the Transactions, and subject to the same terms and conditions as applied immediately prior to the Transactions, each share of Forest's outstanding common stock, common stock options, restricted stock units and restricted shares were exchanged for identical instruments of the Company
Great Elm Healthcare, LLC (HC LLC)
Reorganizations [Line Items]
Reimbursement amount received to cover deal costs	$ 1,300
Forest Merger Sub Inc | J.P. Morgan Broker-Dealer Holdings Inc. (JPM)
Reorganizations [Line Items]
JPM financing arrangement aggregate amount	$ 37,700
Forest Investments, Inc. (Forest) | J.P. Morgan Broker-Dealer Holdings Inc. (JPM)
Reorganizations [Line Items]
JPM acquired percentage	20.00%
Business acquisition, common stock purchase price	$ 2,700
Business acquisition, annual consulting fees	$ 450
Forest Investments, Inc. (Forest) | Forest Preferred Stock Classified as Liability
Reorganizations [Line Items]
Redeemable preferred stock, shares	35,010
Redeemable preferred stock, annual dividend rate	9.00%
Redeemable Preferred stock, redemption date	Dec. 29, 2027
Redeemable Preferred stock, redemption price per share	$ 1,000
Redeemable preferred stock, face value per share	$ 1,000
Forest Investments, Inc. (Forest) | Series A-1 Preferred Stock Classified as Liability
Reorganizations [Line Items]
Redeemable preferred stock, shares	8,082
Great Elm Healthcare, LLC (HC LLC) | Series A-2 Preferred Stock Classified as Liability
Reorganizations [Line Items]
Redeemable preferred stock, shares	34,010
Redeemable preferred stock, annual dividend rate	9.00%
Redeemable Preferred stock, redemption date	Dec. 29, 2027
Redeemable Preferred stock, redemption price per share	$ 1,000
Percentage of proceeds arising from sale of durable medical equipment business	33.00%
Great Elm Healthcare, LLC (HC LLC) | Series A-1 Preferred Stock Classified as Liability
Reorganizations [Line Items]
Redeemable preferred stock, shares	10,090
Redeemable preferred stock, annual dividend rate	9.00%
Redeemable Preferred stock, redemption date	Dec. 29, 2027
Redeemable Preferred stock, redemption price per share	$ 1,000
Redeemable preferred stock, face value per share	$ 1,000
Great Elm Healthcare, LLC (HC LLC) | Series A-1 Preferred Stock Classified as Liability | Forest Investments, Inc. (Forest)
Reorganizations [Line Items]
Preferred stock holding percentage	80.10%
Great Elm Healthcare, LLC (HC LLC) | Series A-1 Preferred Stock Classified as Liability | Corbel Capital Partners SBIC, L.P. (Corbel)
Reorganizations [Line Items]
Preferred stock holding percentage	9.95%
Great Elm Healthcare, LLC (HC LLC) | Series A-1 Preferred Stock Classified as Liability | Valley Healthcare Holdings, LLC (VHH)
Reorganizations [Line Items]
Preferred stock holding percentage	9.95%
DME, Inc. | Great Elm Healthcare, LLC (HC LLC)
Reorganizations [Line Items]
Cash	$ 1,900

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 10, 2021	Dec. 29, 2020	Oct. 01, 2020	Feb. 26, 2020	Mar. 31, 2021	Mar. 31, 2021	Dec. 18, 2020	Mar. 31, 2018
Convertible Notes
Related Party Transaction [Line Items]
Issuance of notes payable				$ 30,000
MAST Capital Management, LLC
Related Party Transaction [Line Items]
Percentage of ownership interest issued to former owner/holder					7.50%	7.50%
MAST Capital Management, LLC | Convertible Notes
Related Party Transaction [Line Items]
Issuance of notes payable	$ 2,300
GE FM Holdings
Related Party Transaction [Line Items]
Percentage of ownership interest issued to former owner/holder								19.90%
GECC
Related Party Transaction [Line Items]
Percentage of ownership interest (as a percent)					23.60%	23.60%
Equity method investment aggregate shares received			2,966,531
Equity method investment, share price			$ 2.95
Equity method investment, aggregate value			$ 8,800
J.P. Morgan Broker-Dealer Holdings Inc. and JPMorgan Chase & Co | Ligado Networks, LLC
Related Party Transaction [Line Items]
Business combination, common stock interest, percentage							21.00%
J.P. Morgan Broker-Dealer Holdings Inc. and JPMorgan Chase & Co | Forest Merger Sub Inc
Related Party Transaction [Line Items]
Proceeds from issuance of common stock		$ 35,000
Issuance of Forest preferred stock		$ 2,700
Consolidated Fund
Related Party Transaction [Line Items]
Percentage of investment in consolidated fund had fair value of greater than of consolidated assets					5.00%	5.00%
Receivable for reimbursable expenses paid					$ 10	$ 10
Shared Personnel and Reimbursement Agreement | Jason W. Reese | Investment Management Expenses
Related Party Transaction [Line Items]
Costs incurred under agreement					$ 100	$ 200

Related Party Transactions - Sc

Related Party Transactions - Schedule of Activity and Outstanding Balances Between Managed Investment Products and Company (Details) - Managed Investment Products - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Related Party Transaction [Line Items]
Investment management revenues receivable	$ 726		$ 726		$ 746
Receivable for reimbursable expenses paid	207		207		158
GECC
Related Party Transaction [Line Items]
Change in unrealized loss on investment in GECC	(1,112)	$ (9,794)	(454)	$ (11,603)
Dividend income from GECC	554	$ 489	2,400	$ 1,567
Dividends receivable from GECC	$ 554		$ 554		$ 163

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Assets and Liabilities Measured at Fair Value on Recurring and Non-recurring Basis (Details) - USD ($)	Mar. 31, 2021	Jun. 30, 2020
Assets:
Investment in GECC	$ 18,835,000	$ 8,705,000
Equity investments of Consolidated Funds	25,625,000
Total assets	44,460,000	8,705,000
Liabilities:
Participation feature of HC LLC Series A-2 Preferred Stock	0
Contingent consideration liability	397,000	0
Total liabilities	397,000	0
Fair Value, Inputs, Level 1
Assets:
Investment in GECC	18,835,000	8,705,000
Equity investments of Consolidated Funds	25,625,000
Total assets	44,460,000	8,705,000
Liabilities:
Participation feature of HC LLC Series A-2 Preferred Stock	0
Contingent consideration liability	0	0
Total liabilities	0	0
Fair Value, Inputs, Level 2
Assets:
Investment in GECC	0	0
Equity investments of Consolidated Funds	0
Total assets	0	0
Liabilities:
Participation feature of HC LLC Series A-2 Preferred Stock	0
Contingent consideration liability	0	0
Total liabilities	0	0
Fair Value, Inputs, Level 3
Assets:
Investment in GECC	0	0
Equity investments of Consolidated Funds	0
Total assets	0	0
Liabilities:
Contingent consideration liability	397,000	0
Total liabilities	$ 397,000	$ 0

Fair Value Measurements - Recon

Fair Value Measurements - Reconciliation of Changes in Contingent Consideration, Level 3 Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Beginning balance		$ 1,135
Additions	$ 397
Change in fair value		$ (1,135)
Ending balance	$ 397

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details)	Dec. 29, 2020USD ($)	Mar. 31, 2021USD ($)shares	Mar. 31, 2020USD ($)	Mar. 01, 2021USD ($)	Jun. 30, 2020USD ($)
Fair value assets level 1 to level 2 transfers		$ 0	$ 0
Fair value assets level 2 to level 1 transfers		0	0
Fair value asset transfers into level 3		0	0
Fair value asset transfers out of level 3		0	0
Fair value liabilities level 1 to level 2 transfers		0	0
Fair value liabilities level 2 to level 1 transfers		0	0
Fair value liability transfers into level 3		0	0
Fair value liability transfers out of level 3		0	$ 0
Maximum additional consideration payable		2,100,000
Contingent consideration fair value					$ 0
Valuation of participation feature		$ 0
GECC
Percentage of ownership interest (as a percent)		23.60%
Number of sharers held in subsidiary | shares		5,539,724
Forest Investments, Inc. (Forest)
Fair value of embedded derivative liability	$ 6,500,000	$ 11,300,000
AMPM
Maximum additional consideration payable				$ 2,100,000
Contingent consideration fair value				$ 400,000
Volatility Rate | Forest Investments, Inc. (Forest)
Contingent consideration, fair value estimation	72.7	66.9
Contingent consideration, fair value option term	3 years
Volatility Rate | AMPM
Contingent consideration, fair value estimation		40		40
Discount Rate | Forest Investments, Inc. (Forest)
Contingent consideration, fair value estimation		15.5
Discount Rate | AMPM
Contingent consideration, fair value estimation		10.3		10.3

Fixed Assets - Summary of Fixed

Fixed Assets - Summary of Fixed Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Property Plant And Equipment [Line Items]
Real Estate Assets, Gross Carrying Amount	$ 56,025	$ 56,025
Accumulated depreciation	(3,754)	(2,837)
Net carrying amount	52,271	53,188
Property and Equipment, Gross Carrying Amount	2,386	2,378
Accumulated depreciation	(1,445)	(968)
Net carrying amount	941	1,410
Medical Equipment Held for Rental
Medical equipment held for rental	14,501	13,828
Accumulated depreciation	(7,353)	(6,345)
Net carrying amount	7,148	7,483
Buildings
Property Plant And Equipment [Line Items]
Real Estate Assets, Gross Carrying Amount	43,355	43,355
Land and Site Improvements
Property Plant And Equipment [Line Items]
Real Estate Assets, Gross Carrying Amount	9,170	9,170
Tenant Improvements
Property Plant And Equipment [Line Items]
Real Estate Assets, Gross Carrying Amount	3,500	3,500
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and Equipment, Gross Carrying Amount	830	858
Vehicles
Property Plant And Equipment [Line Items]
Property and Equipment, Gross Carrying Amount	232	237
Computer Equipment And Software
Property Plant And Equipment [Line Items]
Property and Equipment, Gross Carrying Amount	356	277
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property and Equipment, Gross Carrying Amount	391	417
Sleep Study Equipment
Property Plant And Equipment [Line Items]
Property and Equipment, Gross Carrying Amount	$ 577	$ 589

Fixed Assets - Summary of Recon

Fixed Assets - Summary of Reconciles Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Property Plant And Equipment [Line Items]
Total depreciation expense	$ 1,988	$ 2,360	$ 6,137	$ 7,328
Durable Medical Equipment | Rental
Property Plant And Equipment [Line Items]
Total depreciation expense	1,478	1,882	4,683	5,895
Depreciation and Amortization
Property Plant And Equipment [Line Items]
Total depreciation expense	$ 510	$ 478	$ 1,454	$ 1,433

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	$ 50,658	$ 50,010	$ 50,433	$ 50,397

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Changes in Carrying Value of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 50,010	$ 50,397
Acquisition of businesses	648
Purchase accounting adjustment		36
Ending balance	$ 50,658	$ 50,433

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 20,970	$ 20,614
Accumulated Amortization	(7,116)	(5,485)
Net Carrying Amount	13,854	15,129
Durable Medical Equipment Assets
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,516	10,160
Accumulated Amortization	(3,088)	(2,186)
Net Carrying Amount	7,428	7,974
Durable Medical Equipment Assets | Tradename
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	9,056	8,800
Accumulated Amortization	(2,273)	(1,613)
Net Carrying Amount	6,783	7,187
Durable Medical Equipment Assets | Hospital Contracts
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	90
Accumulated Amortization	(4)
Net Carrying Amount	86
Durable Medical Equipment Assets | Non-compete Agreements
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	1,370	1,360
Accumulated Amortization	(811)	(573)
Net Carrying Amount	559	787
Investment Management Assets
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,426	4,426
Accumulated Amortization	(2,497)	(2,142)
Net Carrying Amount	1,929	2,284
Investment Management Assets | Investment Management Agreement
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,900	3,900
Accumulated Amortization	(2,200)	(1,887)
Net Carrying Amount	1,700	2,013
Investment Management Assets | Assembled Workforce
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	526	526
Accumulated Amortization	(297)	(255)
Net Carrying Amount	229	271
Real Estate Assets | In-place Lease
Finite Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,028	6,028
Accumulated Amortization	(1,531)	(1,157)
Net Carrying Amount	$ 4,497	$ 4,871

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Summary of Amortization Expense of Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Finite Lived Intangible Assets Future Amortization Expense Current And Five Succeeding Fiscal Years [Abstract]
Aggregate Amortization Expense	$ 1,080	$ 574	$ 1,631	$ 1,816
Estimated Future Amortization Expense, For the three months ending June 30, 2021	553		553
Estimated Future Amortization Expense, For the year ending June 30, 2022	2,070		2,070
Estimated Future Amortization Expense, For the year ending June 30, 2023	1,967		1,967
Estimated Future Amortization Expense, For the year ending June 30, 2024	1,768		1,768
Estimated Future Amortization Expense, For the year ending June 30, 2025	1,658		1,658
Estimated Future Amortization Expense, Thereafter	5,838		5,838
Net Carrying Amount	$ 13,854		$ 13,854		$ 15,129

Lessor Operating Leases - Addit

Lessor Operating Leases - Additional Information (Details) $ in Millions	9 Months Ended
	Mar. 31, 2021USD ($)Property
Gartner I and Gartner II
Lessor Lease Description [Line Items]
Number of office buildings | Property	2
Lessor, lease option to extend	The Gartner I lease contains two five-year extensions and the Gartner II lease contains three five-year extensions
Existence of option to extend operating lease	true
Lessor, lease renewal rate	95.00%
Monthly base lease payments | $	$ 0.4
Minimum
Lessor Lease Description [Line Items]
Lessor, lease terms	10 months
Maximum
Lessor Lease Description [Line Items]
Lessor, lease terms	36 months

Lessor Operating Leases - Summa

Lessor Operating Leases - Summary of Rental Income from Real Estate Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Leases Operating [Abstract]
Revenues from base rents	$ 1,151	$ 1,151	$ 3,453	$ 3,453
Revenues from additional rental payments	125	121	371	367
Total rental revenues	$ 1,276	$ 1,272	$ 3,824	$ 3,820

Lessor Operating Leases - Sum_2

Lessor Operating Leases - Summary of Base Rents for Remaining Lease Term (Details) $ in Thousands	Mar. 31, 2021USD ($)
Lessor Disclosure [Abstract]
For the three months ending June 30, 2021	$ 1,068
For the year ending June 30, 2022	4,312
For the year ending June 30, 2023	4,419
For the year ending June 30, 2024	4,529
For the year ending June 30, 2025	4,648
Thereafter	24,025
Total base rent	$ 43,001

Lessee Operating Leases - Sched

Lessee Operating Leases - Schedule of Additional Details of Leases Presented in Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Operating Leased Assets [Line Items]
Right of use assets	$ 5,276	$ 5,392
Current portion of lease liabilities	1,828	1,617
Lease liabilities, net of current portion	3,720	4,060
Total liabilities	5,548
Facilities
Operating Leased Assets [Line Items]
Right of use assets	5,135	6,066
Current portion of lease liabilities	1,770	1,371
Lease liabilities, net of current portion	3,637	4,989
Total liabilities	$ 5,407	$ 6,360
Weighted-average remaining life	3 years 4 months 24 days	4 years 4 months 24 days
Weighted-average discount rate	11.40%	11.70%
Vehicles
Operating Leased Assets [Line Items]
Right of use assets	$ 104	$ 80
Current portion of lease liabilities	29	18
Lease liabilities, net of current portion	75	62
Total liabilities	$ 104	$ 80
Weighted-average remaining life	3 years 7 months 6 days	3 years 8 months 12 days
Weighted-average discount rate	10.10%	12.30%
Equipment
Operating Leased Assets [Line Items]
Right of use assets	$ 37	$ 93
Current portion of lease liabilities	29	34
Lease liabilities, net of current portion	8	59
Total liabilities	$ 37	$ 93
Weighted-average remaining life	9 years	2 years 7 months 6 days
Weighted-average discount rate	10.80%	12.50%

Lessee Operating Leases - Addit

Lessee Operating Leases - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Lessee Lease Description [Line Items]
Remaining right of use assets	$ 5,276	$ 5,392
Lease liabilities	5,548
Current portion of lease liabilities	1,828	1,617
Lease liabilities, net of current portion	$ 3,720	4,060
Lessee, operating lease term	88 months
Lessee, operating leases optional lease extension period	60 months
Existence of option to extend operating lease	true
Increase in average rate of lease payment	2.40%
Facilities
Lessee Lease Description [Line Items]
Remaining right of use assets	$ 5,135	6,066
Lease liabilities	5,407	6,360
Current portion of lease liabilities	1,770	1,371
Lease liabilities, net of current portion	$ 3,637	4,989
Existence of option to extend operating lease	true
Vehicles
Lessee Lease Description [Line Items]
Remaining right of use assets	$ 104	80
Lease liabilities	104	80
Current portion of lease liabilities	29	18
Lease liabilities, net of current portion	$ 75	62
Vehicles | DME, Inc.
Lessee Lease Description [Line Items]
Lessee, operating lease term	60 months
Lessee, termination description	Each lease may be terminated by the lessee with 30-days’ notice after the first 13 months of the lease subject to certain early termination costs, including residual value guarantees.
Existence of option to terminate operating lease	false
Equipment
Lessee Lease Description [Line Items]
Remaining right of use assets	$ 37	93
Lease liabilities	37	93
Current portion of lease liabilities	29	34
Lease liabilities, net of current portion	8	$ 59
Minimum
Lessee Lease Description [Line Items]
Increase in average rate of lease payment, value	$ 28
Minimum | Facilities
Lessee Lease Description [Line Items]
Lessee, operating lease term	12 months
Minimum | Equipment
Lessee Lease Description [Line Items]
Lessee, operating lease term	36 months
Maximum
Lessee Lease Description [Line Items]
Increase in average rate of lease payment, value	$ 32
Maximum | Facilities
Lessee Lease Description [Line Items]
Lessee, operating lease term	96 months
Lessee, operating leases optional lease extension period	120 months
Maximum | Equipment
Lessee Lease Description [Line Items]
Lessee, operating lease term	48 months

Lessee Operating Leases - Sch_2

Lessee Operating Leases - Schedule of Operating Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Facilities
Operating Leased Assets [Line Items]
Operating lease cost	$ 559	$ 514	$ 1,638	$ 1,561
Cash paid for operating leases	527	524	1,616	1,535
Vehicles
Operating Leased Assets [Line Items]
Operating lease cost	23	6	37	20
Cash paid for operating leases	9	6	23	20
Equipment
Operating Leased Assets [Line Items]
Operating lease cost	12	11	34	33
Cash paid for operating leases	$ 12	$ 11	$ 34	$ 33

Lessee Operating Leases - Sch_3

Lessee Operating Leases - Schedule of Company's Undiscounted Cash Payment Obligations for Operating Lease (Details) $ in Thousands	Mar. 31, 2021USD ($)
Lessee Disclosure [Abstract]
For the three months ending June 30, 2021	$ 606
For the year ending June 30, 2022	2,271
For the year ending June 30, 2023	1,570
For the year ending June 30, 2024	1,127
For the year ending June 30, 2025	635
Thereafter	480
Total lease payments	6,689
Imputed interest	(1,141)
Lease liabilities	$ 5,548

Borrowings - Schedule of Relate

Borrowings - Schedule of Related Party Borrowings of Subsidiaries (Details) $ in Thousands	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Total long-term related party notes payable	$ 27,903
Less current portion of related party notes payable	(1,418)
Related party notes payable, net of current portion	26,485
Related Party Borrowings Subsidiaries
Debt Instrument [Line Items]
Total principal	28,178
Unamortized debt issuance cost	(275)
Corbel Facility | DME, Inc. | Related Party Borrowings Subsidiaries
Debt Instrument [Line Items]
Total principal	25,106
GP Corp. Note | GP Corp. | Related Party Borrowings Subsidiaries
Debt Instrument [Line Items]
Total principal	$ 3,072

Borrowings - Schedule of Subsid

Borrowings - Schedule of Subsidiaries' Other Outstanding Borrowings (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2018
Debt Instrument [Line Items]
Less current portion of other outstanding borrowings	$ (2,460)	$ (6,221)
Subsidiaries Other Outstanding Borrowings
Debt Instrument [Line Items]
Total principal	54,772	59,937
Unamortized debt premiums	3,263	3,251
Unamortized debt discounts and issuance costs	(1,796)	(1,956)
Total other outstanding borrowings	56,239	61,232
Less current portion of other outstanding borrowings	(4,615)	(8,255)
Other outstanding borrowings, net of current portion	51,624	52,977
DME Revolver | DME, Inc. | Subsidiaries Other Outstanding Borrowings
Debt Instrument [Line Items]
Total principal		3,900
Equipment Financing | DME, Inc. | Subsidiaries Other Outstanding Borrowings
Debt Instrument [Line Items]
Total principal	2,238	2,230
Senior Notes | CRIC IT | Subsidiaries Other Outstanding Borrowings
Debt Instrument [Line Items]
Total principal	48,281	50,004
Subordinated Notes | CRIC IT
Debt Instrument [Line Items]
Unamortized debt premiums			$ 3,100
Subordinated Notes | CRIC IT | Subsidiaries Other Outstanding Borrowings
Debt Instrument [Line Items]
Total principal	$ 4,253	$ 3,803

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	Dec. 29, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 10, 2021	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2018	Sep. 07, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Interest expense other borrowings		$ 1,500,000	$ 1,600,000	$ 4,200,000	$ 4,900,000
Loss on extinguishment of debt				(1,866,000)
Additional paid-in-capital		3,319,516,000		3,319,516,000			$ 3,318,117,000
MAST Capital
Debt Instrument [Line Items]
Convertible notes issued						$ 2,300,000
Additional paid-in-capital						$ 600,000
Equipment Financing Debt Agreements | Operating Subsidiaries of DME Inc
Debt Instrument [Line Items]
Inventory and equipment financing				$ 1,600,000	$ 1,300,000
Equipment Financing Debt Agreements | Minimum | Operating Subsidiaries of DME Inc
Debt Instrument [Line Items]
Term of debt				1 year
Implicit interest rate				7.00%
Equipment Financing Debt Agreements | Maximum | Operating Subsidiaries of DME Inc
Debt Instrument [Line Items]
Term of debt				3 years
Implicit interest rate				8.00%
DME Revolver
Debt Instrument [Line Items]
Credit facility balance		0		$ 0
Credit facility maximum borrowing capacity		$ 10,000,000		$ 10,000,000
Credit facility expiration date				Nov. 29, 2022
Debt Instrument, Basis Spread on Variable Rate				0.40%
Credit facility interest rate		3.70%		3.70%
Debt instrument description				the prime rate plus 0.4% per annum
DME, Inc.
Debt Instrument [Line Items]
Percentage of voting interests acquired										80.10%
DME, Inc. | DME Revolver
Debt Instrument [Line Items]
Debt acquired principal amount		$ 6,300,000		$ 6,300,000						$ 800,000
Corbel Facility
Debt Instrument [Line Items]
Additional borrowings								$ 3,400,000
Remaining outstanding principal amount	$ 24,800,000
Deferred structuring fees	600,000
Prepayment premiums and settlement fees	1,000,000
Lender legal fees	100,000
Unamortized debt issuance costs	200,000
Loss on extinguishment of debt	$ 1,900,000
Corbel Facility | DME, Inc.
Debt Instrument [Line Items]
Debt acquired principal amount									$ 25,000,000	$ 8,500,000
GP Corp. Note
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate				3.00%
Debt instrument description				three-month LIBOR plus 3.0% per annum
Secured notes, maturity month and year				2026-11
Senior Notes
Debt Instrument [Line Items]
Debt acquired principal amount											$ 54,800,000
Long term debt, fair value											52,200,000
Debt instrument unamortized discount											2,600,000
Debt instrument accrues interest rate		3.49%		3.49%
Debt instrument last required payment		$ 18,400,000		$ 18,400,000
Secured notes, maturity date				Mar. 15, 2030
Debt instrument last installment payment date				Mar. 15, 2030
Subordinated Notes
Debt Instrument [Line Items]
Debt acquired principal amount											2,700,000
Long term debt, fair value											5,800,000
Debt instrument accrues interest rate		15.00%		15.00%
Debt instrument last required payment		$ 16,300,000		$ 16,300,000
Secured notes, maturity date				Mar. 15, 2030
Debt instrument last installment payment date				Mar. 15, 2030
Subordinated Notes | CRIC IT
Debt Instrument [Line Items]
Debt instrument unamortized premium											$ 3,100,000

Borrowings - Schedule of Aggreg

Borrowings - Schedule of Aggregate Future Required Principal Debt Repayments (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
For the three months ending June 30, 2021	$ 1,552
For the year ending June 30, 2022	3,738
For the year ending June 30, 2023	2,759
For the year ending June 30, 2024	2,906
For the year ending June 30, 2025	3,126
Thereafter	52,708
Total	66,789
Future interest to be paid-in-kind	12,017
Related Party Borrowings Subsidiaries
Debt Instrument [Line Items]
Outstanding principal		$ 28,178
Subsidiaries Other Outstanding Borrowings
Debt Instrument [Line Items]
Outstanding principal	$ 54,772	$ 59,937

Borrowings - Schedule of Paymen

Borrowings - Schedule of Payments and Interest Expense Incurred (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Corbel Facility
Debt Instrument [Line Items]
Principal payments		$ 807	$ 25,106	$ 2,123
Interest expense		793	1,296	3,251
GP Corp. Note | Acquisition Agreement with MAST Capital
Debt Instrument [Line Items]
Interest expense	$ 22	$ 42	$ 73	$ 130

Convertible Notes - Additional

Convertible Notes - Additional Information (Details) - USD ($) $ in Thousands	Mar. 10, 2021	Feb. 26, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Total principal balance of Convertible Notes outstanding			$ 33,530		$ 33,530		$ 30,521
Debt issuance costs					1,250	$ 392
Interest expense			2,179	$ 1,754	6,047	5,083
Convertible Notes
Debt Instrument [Line Items]
Issuance of notes payable		$ 30,000
Debt instrument maturity date		Feb. 26, 2030
Total principal balance of Convertible Notes outstanding			33,500		33,500
Issuance of notes to related parties.		$ 15,900
Debt instrument interest rate		5.00%
Notes payable, interest rate description		The Convertible Notes accrue interest at 5.0% per annum, payable semiannually in arrears on June 30 and December 31, commencing June 30, 2020, in cash or in kind at the option of the Company.
Number of common stock shares issuable upon conversion of each $1000 principal debt amount		288.0018
Yield Percentage on identical non-convertible instrument		12.50%
Debt instrument unamortized discount		$ 12,600
Debt issuance costs		$ 1,200
Amortization period of convertible notes debt discount and debt issuance costs		10 years
Interest expense			$ 700	$ 200	$ 1,800	$ 200
MAST Capital
Debt Instrument [Line Items]
Ownership percentage	7.60%
MAST Capital | Convertible Notes
Debt Instrument [Line Items]
Issuance of notes payable	$ 2,300
Matthew A. Drapkin | Convertible Notes
Debt Instrument [Line Items]
Issuance of notes to related parties.		$ 6,300
Jason W. Reese | Convertible Notes
Debt Instrument [Line Items]
Issuance of notes to related parties.		6,700
Eric J Scheyer | Convertible Notes
Debt Instrument [Line Items]
Issuance of notes to related parties.		$ 700

CARES Act - Additional Informat

CARES Act - Additional Information (Details)	Dec. 27, 2020USD ($)employee	Apr. 30, 2020USD ($)	Mar. 31, 2021USD ($)	Mar. 27, 2020USD ($)
Employee Retention Credit (ERC)
Unusual Or Infrequent Item [Line Items]
Number of maximum employees refundable tax credit | employee	500
Percentage of qualified wages paid to employees	70
Maximum credit per employee	$ 7,000
Claimed for employees			$ 2,500,000
Recognized as reduction to operating expenses			2,300,000
Acquired in purchase accounting			$ 200,000
U.S. Department of Health and Human Services (HHS)
Unusual Or Infrequent Item [Line Items]
CARES Act Of 2020 Aid				$ 100,000,000,000
DME, Inc. | Paycheck Protection Program Loan
Unusual Or Infrequent Item [Line Items]
Loan amount received to use specified covered purpose including payroll, rent and utilities		$ 3,600,000
Debt instrument interest rate		1.00%
Loan term		2 years
DME, Inc. | U.S. Department of Health and Human Services (HHS)
Unusual Or Infrequent Item [Line Items]
Amount received from HHS grants		$ 1,400,000

Non-Controlling Interests and_3

Non-Controlling Interests and Preferred Stock of Subsidiaries - Summary of Non-controlling Interests Balance on Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019
Balance as of
Temporary equity	$ 2,055	$ 2,567	$ 3,844	$ 3,890	$ 3,615	$ 3,754	$ 3,832	$ 3,912
Total Non-controlling interests	11,592			7,776
DME, Inc.
Balance as of
Temporary equity	2,055			3,890
Permanent equity	2,055			3,890
Total DME Inc.	4,110			7,780
GP Corp.
Balance as of
Permanent equity	(187)			(782)
GE FM Holdings
Balance as of
Permanent equity	823			$ 778
GESOF
Balance as of
Permanent equity	3,126
Forest
Balance as of
Permanent equity	$ 3,720

Non-Controlling Interests and_4

Non-Controlling Interests and Preferred Stock of Subsidiaries - Summary of Non-controlling Interests Balance on Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Net income (loss)
Total DME Inc.	$ (158)	$ (301)	$ (862)	$ (676)
DME, Inc.
Net income (loss)
Temporary equity	(509)	(139)	(846)	(297)
Permanent equity	(509)	(139)	(846)	(297)
Total DME Inc.	(1,018)	(278)	(1,692)	(594)
GP Corp.
Net income (loss)
Permanent equity	(26)	(37)	(86)	(122)
GE FM Holdings
Net income (loss)
Permanent equity	15	$ 14	45	$ 40
GESOF
Net income (loss)
Permanent equity	(148)		(148)
Forest
Net income (loss)
Permanent equity	$ 1,019		$ 1,019

Non-Controlling Interests and_5

Non-Controlling Interests and Preferred Stock of Subsidiaries - Additional Information (Details) - USD ($)	Dec. 29, 2020	Mar. 31, 2021	Mar. 31, 2021	Sep. 07, 2018	Mar. 31, 2018	Nov. 30, 2016
GP Corp.
Minority Interest [Line Items]
Percentage of ownership interest issued to former owner/certain affiliates and employees		4.30%	4.30%			19.90%
Percentage of ownership interest repurchased		15.60%
GE FM Holdings
Minority Interest [Line Items]
Percentage of ownership interest issued to former owner/certain affiliates and employees					19.90%
GESOF
Minority Interest [Line Items]
Percentage of ownership interest issued to former owner/certain affiliates and employees		23.20%	23.20%
Ownership percentage		76.80%	76.80%
DME, Inc.
Minority Interest [Line Items]
Percentage of common stock equity ownership issued		9.95%	9.95%
Description of non-controlling interest in subsidiaries upon seventh anniversary of issuance date			In addition, upon the seventh anniversary of issuance date, if (i) the holder owns 50% of the common shares issued to it at the closing of the transaction, (ii) an initial public offering of DME Inc. has not commenced and (iii) the holder has not had an earlier opportunity to sell its shares at their fair market value, the holder has the right to request a marketing process for a sale of DME Inc. and has the right to put its common shares to DME Inc. at the price for such shares implied by such marketing process.
Percentage of common stock equity ownership issued				9.95%
Forest
Minority Interest [Line Items]
Percentage of common stock interest sold classified as permanent equity	20.00%
Exchange of common stock for noncontrolling interests	$ 2,700,000
HC LLC | Series A-1 Preferred Stock Classified as Liability
Minority Interest [Line Items]
Redeemable preferred stock, shares	10,090
Redeemable preferred stock, face value per share	$ 1,000
Consideration in exchange for instrument	$ 0
Redeemable preferred stock, annual dividend rate	9.00%
Redeemable Preferred stock, redemption price per share	$ 1,000
Redeemable Preferred stock, redemption date	Dec. 29, 2027
Redeemable preferred stock fair value per share	$ 801
Debt issuance costs	$ 200,000
Debt issuance costs amortization period	7 years
HC LLC | Series A-2 Preferred Stock Classified as Liability
Minority Interest [Line Items]
Redeemable preferred stock, shares	34,010
Redeemable preferred stock, face value per share	$ 1,000
Redeemable preferred stock, annual dividend rate	9.00%
Redeemable Preferred stock, redemption price per share	$ 1,000
Redeemable Preferred stock, redemption date	Dec. 29, 2027
Redeemable preferred stock fair value per share	$ 810
Debt issuance costs	$ 1,100,000
Debt issuance costs amortization period	7 years
Redeemable preferred stock redemption premium percentage minimum	0.00%
Redeemable preferred stock redemption premium percentage maximum	3.00%
Percentage of proceeds arising from sale of durable medical equipment business	33.00%
Fair value of derivative liability	$ 6,500,000
Forest | Series A-1 Preferred Stock Classified as Liability
Minority Interest [Line Items]
Redeemable preferred stock, shares	8,082
Forest | Forest Preferred Stock Classified as Liability
Minority Interest [Line Items]
Redeemable preferred stock, shares	35,010
Redeemable preferred stock, face value per share	$ 1,000
Redeemable preferred stock, annual dividend rate	9.00%
Redeemable Preferred stock, redemption price per share	$ 1,000
Redeemable Preferred stock, redemption date	Dec. 29, 2027
Debt issuance costs	$ 1,200,000
Debt issuance costs amortization period	7 years
Redeemable preferred stock redemption premium percentage minimum	0.00%
Redeemable preferred stock redemption premium percentage maximum	3.00%
Net operating loss carryforwards	$ 300,000,000
Corbel Capital Partners SBIC, L.P. (Corbel) | Series A-1 Preferred Stock Classified as Liability
Minority Interest [Line Items]
Redeemable preferred stock, shares	1,004
Valley Healthcare Holdings, LLC (VHH) | Series A-1 Preferred Stock Classified as Liability
Minority Interest [Line Items]
Redeemable preferred stock, shares	1,004

Non-Controlling Interests and_6

Non-Controlling Interests and Preferred Stock of Subsidiaries - Summary of Preferred Stock of Subsidiary Balances on Condensed Consolidated Balance Sheets (Details) $ in Thousands	Mar. 31, 2021USD ($)
Minority Interest [Line Items]
Total redeemable preferred stock of subsidiaries classified as liability	$ 35,474
HC LLC
Minority Interest [Line Items]
Total redeemable preferred stock of subsidiaries classified as liability	1,556
HC LLC | Series A-1 Preferred Stock
Minority Interest [Line Items]
Total redeemable preferred stock of subsidiaries classified as liability	1,556
Forest | Forest Preferred Stock
Minority Interest [Line Items]
Total redeemable preferred stock of subsidiaries classified as liability	$ 33,918

Stockholders' Equity - Restrict

Stockholders' Equity - Restricted Stock Awards (Performance Shares) and Restricted Stock Units - Additional Information (Details) - Restricted Stock $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021shares	Mar. 31, 2021USD ($)shares
Stockholders' Equity
Restricted stock awards forfeited		0
Outstanding shares		732,909
Vesting period		5 years
Investment management cumulative revenue collection target | $		$ 40
Maximum term of Investment management agreement fees earned		5 years
Awards probable of vesting under performance condition	241,347	241,347
Employees and Directors
Stockholders' Equity
Granted, shares	18,120	305,299

Stockholders' Equity - Activity

Stockholders' Equity - Activity of Restricted Stock Award (Details) - Restricted Stock shares in Thousands	9 Months Ended
	Mar. 31, 2021$ / sharesshares
Shares
Beginning Balance | shares	941
Granted | shares	305
Vested | shares	(307)
Ending Balance | shares	939
Weighted average grant date fair value
Beginning Balance | $ / shares	$ 3.71
Granted | $ / shares	2.66
Vested | $ / shares	2.61
Ending Balance | $ / shares	$ 3.73

Stockholders' Equity - Summary

Stockholders' Equity - Summary of Option Activity (Details) - $ / shares shares in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Shares
Beginning Balance	2,475
Options granted	18
Ending Balance	2,493	2,475
Exercisable	1,887
Vested and expected to vest	2,493
Weighted average exercise price
Beginning Balance	$ 3.69
Options granted	3.51
Ending Balance	3.69	$ 3.69
Exercisable	3.65
Vested and expected to vest	$ 3.69
Weighted average remaining contractual term
Outstanding	5 years 3 days	5 years 6 months 3 days
Exercisable	4 years 4 months 9 days
Vested and expected to vest	4 years 9 months 3 days

Stockholders' Equity - Stock Op

Stockholders' Equity - Stock Options (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Stockholders' Equity
Total unrecognized compensation cost	$ 1.7		$ 1.7
Restricted Stock Awards and Stock Options
Stockholders' Equity
Stock-based compensation	$ 0.6	$ 0.3	$ 1.3	$ 0.2

Income Tax - Additional Informa

Income Tax - Additional Information (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2021	Jun. 30, 2020
Income Tax [Line Items]
Federal net operating loss carryforwards		$ 1,500
Operating loss carryforward for state income tax		$ 203
Minimum | Federal
Income Tax [Line Items]
Operating loss carryforwards expiration period	2021
Minimum | State
Income Tax [Line Items]
Operating loss carryforwards expiration period	2029
Maximum | Federal
Income Tax [Line Items]
Operating loss carryforwards expiration period	2037
Maximum | State
Income Tax [Line Items]
Operating loss carryforwards expiration period	2038

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Mar. 31, 2021Segment
Segment Reporting [Abstract]
Number of business operating segments	3

Segment Information - Schedule

Segment Information - Schedule of Results of Operations by Segment (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020
Revenue:
Total revenue		$ 15,121	$ 16,236	$ 48,355	$ 48,158
Operating costs and expenses:
Depreciation and amortization		(1,048)	(1,053)	(3,090)	(3,250)
Stock-based compensation	[1]	(616)	267	(1,330)	(234)
Transaction costs	[2]	(262)	(286)	(610)	(863)
Other selling, general and administrative		(8,111)	(10,135)	(27,429)	(28,324)
Total operating expenses		(15,500)	(17,245)	(50,368)	(50,311)
Other income (expense):
Interest expense		(2,179)	(1,754)	(6,047)	(5,083)
Other income (expense)		(403)	(9,303)	339	(9,992)
Total other expense, net		(2,582)	(11,057)	(5,708)	(15,075)
Loss, before income taxes		(2,961)	(12,066)	(7,721)	(17,228)
Intercompany Eliminations
Revenue:
Total revenue	[3]	(173)	(34)	(309)	(114)
Operating costs and expenses:
Other selling, general and administrative	[3]	173	34	309	114
Total operating expenses	[3]	173	34	309	114
Other income (expense):
Interest expense	[3]	1,231		1,231
Other income (expense)	[3]	(1,231)		(1,231)
Durable Medical Equipment | Operating Segments
Revenue:
Total revenue		13,117	14,131	42,270	41,753
Operating costs and expenses:
Depreciation and amortization		(508)	(472)	(1,433)	(1,449)
Transaction costs	[2]	(107)		(194)
Other selling, general and administrative		(6,023)	(8,113)	(21,822)	(22,721)
Total operating expenses		(12,101)	(14,623)	(41,358)	(41,810)
Other income (expense):
Interest expense		(1,280)	(906)	(2,676)	(2,839)
Other income (expense)		(4,795)		(6,631)	3
Total other expense, net		(6,075)	(906)	(9,307)	(2,836)
Loss, before income taxes		(5,059)	(1,398)	(8,395)	(2,893)
Durable Medical Equipment | Sales and Services
Operating costs and expenses:
Total operating costs and expenses		(3,806)	(3,966)	(12,716)	(11,118)
Durable Medical Equipment | Sales and Services | Operating Segments
Operating costs and expenses:
Total operating costs and expenses		(3,806)	(3,966)	(12,716)	(11,118)
Durable Medical Equipment | Rental
Operating costs and expenses:
Total operating costs and expenses		(1,657)	(2,072)	(5,193)	(6,522)
Durable Medical Equipment | Rental | Operating Segments
Operating costs and expenses:
Total operating costs and expenses		(1,657)	(2,072)	(5,193)	(6,522)
Investment Management
Operating costs and expenses:
Total operating costs and expenses		(904)	(149)	(2,546)	(1,504)
Investment Management | Operating Segments
Revenue:
Total revenue		739	829	2,272	2,585
Operating costs and expenses:
Depreciation and amortization		(109)	(150)	(364)	(508)
Stock-based compensation	[1]	(181)	373	(572)	100
Other selling, general and administrative		(723)	(522)	(1,974)	(1,604)
Total operating expenses		(1,013)	(299)	(2,910)	(2,012)
Other income (expense):
Interest expense		(25)	(39)	(76)	(122)
Total other expense, net		(25)	(39)	(76)	(122)
Loss, before income taxes		(299)	491	(714)	451
Real Estate
Operating costs and expenses:
Total operating costs and expenses		(128)	(125)	(380)	(375)
Real Estate | Operating Segments
Revenue:
Total revenue		1,276	1,276	3,824	3,820
Operating costs and expenses:
Depreciation and amortization		(430)	(430)	(1,291)	(1,291)
Other selling, general and administrative		(128)	(125)	(380)	(375)
Total operating expenses		(558)	(555)	(1,671)	(1,666)
Other income (expense):
Interest expense		(645)	(654)	(1,942)	(1,967)
Total other expense, net		(645)	(654)	(1,942)	(1,967)
Loss, before income taxes		73	67	211	187
General Corporate | Operating Segments
Revenue:
Total revenue		162	34	298	114
Operating costs and expenses:
Depreciation and amortization		(1)	(1)	(2)	(2)
Stock-based compensation	[1]	(435)	(106)	(758)	(334)
Transaction costs	[2]	(155)	(286)	(416)	(863)
Other selling, general and administrative		(1,410)	(1,409)	(3,562)	(3,738)
Total operating expenses		(2,001)	(1,802)	(4,738)	(4,937)
Other income (expense):
Interest expense		(1,460)	(155)	(2,584)	(155)
Other income (expense)		5,623	(9,303)	8,201	(9,995)
Total other expense, net		4,163	(9,458)	5,617	(10,150)
Loss, before income taxes		$ 2,324	$ (11,226)	$ 1,177	$ (14,973)
[1]	Stock-based compensation attributable to the investment management segment is included in investment management expenses in the condensed consolidated statements of operations. Stock-based compensation attributable to the general corporate segment is included in selling, general and administrative expense in the condensed consolidated statements of operations.
[2]	Transaction costs, which consist of legal and other professional services incurred in connection with consummated and unconsummated transactions, are included in selling, general and administrative expense in the condensed consolidated statements of operations.
[3]	The Company’s wholly-owned subsidiary, DME Manager, provides advisory services to DME Inc. and receives consulting fee from DME Inc. for those services. DME Manager is part of general corporate operations while DME Inc. is part of the durable medical equipment segment. The corresponding expense to DME Inc. and revenue to DME Manager are eliminated in consolidation. Beginning December 29, 2020, DME Manager also provides advisory services to Forest and receives a consulting fee from Forest for those services. Both DME Manager and Forest are part of general corporate operations, and the corresponding revenue and expense are eliminated in consolidation. Additionally, Forest owns Series A-1 Preferred Stock and Series A-2 Preferred Stock of HC LLC. Forest is part of general corporate operations while HC LLC is part of the durable medical equipment segment. The corresponding interest expense to HC LLC and interest income to Forest are eliminated in consolidation.

Segment Information - Schedul_2

Segment Information - Schedule of Assets by Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Fixed assets, net	$ 60,360	$ 62,081
Identifiable intangible assets, net	13,854	15,129
Goodwill	50,658	50,010	$ 50,433	$ 50,397
Other assets	90,385	68,225
Total assets	215,257	195,445
Durable Medical Equipment
Segment Reporting Information [Line Items]
Fixed assets, net	8,061	8,854
Identifiable intangible assets, net	7,428	7,974
Goodwill	50,658	50,010
Other assets	20,751	19,055
Total assets	86,898	85,893
Investment Management
Segment Reporting Information [Line Items]
Fixed assets, net	26	35
Identifiable intangible assets, net	1,929	2,284
Other assets	2,932	2,654
Total assets	4,887	4,973
Real Estate
Segment Reporting Information [Line Items]
Fixed assets, net	52,271	53,188
Identifiable intangible assets, net	4,497	4,871
Other assets	2,660	2,171
Total assets	59,428	60,230
General Corporate
Segment Reporting Information [Line Items]
Fixed assets, net	2	4
Other assets	64,042	44,345
Total assets	$ 64,044	$ 44,349