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Segment Information (Tables)

6 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Results of Operations by Segment

The following tables illustrate results of operations by segment:

		For the three months ended December 31, 2020
(in thousands)		Durable Medical Equipment				Investment Management				Real Estate				General Corporate				Intercompany Eliminations(1)				Consolidated Total
Revenue:
Total revenue		$	14,543			$	760			$	1,276			$	45			$	(45	)		$	16,579
Operating costs and expenses:
Cost of durable medical equipment sold and services			(4,703	)			-				-				-				-				(4,703	)
Cost of durable medical equipment rentals			(1,621	)			-				-				-				-				(1,621	)
Depreciation and amortization			(462	)			(127	)			(431	)			(1	)			-				(1,021	)
Stock-based compensation(2)			-				(197	)			-				(88	)			-				(285	)
Transaction costs(3)			(87	)			-				-				(229	)			-				(316	)
Other selling, general and administrative			(8,028	)			(719	)			(127	)			(1,006	)			45				(9,835	)
Total operating expenses			(14,901	)			(1,043	)			(558	)			(1,324	)			45				(17,781	)
Other income (expense):
Interest expense			(687	)			(25	)			(647	)			(552	)			-				(1,911	)
Other income (expense)			(1,833	)			-				-				3,950				-				2,117
Total other expense, net			(2,520	)			(25	)			(647	)			3,398				-				206
Total pre-tax income (loss)		$	(2,878	)		$	(308	)		$	71			$	2,119			$	-			$	(996	)

		For the three months ended December 31, 2019
(in thousands)		Durable Medical Equipment				Investment Management				Real Estate				General Corporate				Intercompany Eliminations(1)				Consolidated Total
Revenue:
Total revenue		$	14,391			$	889			$	1,271			$	57			$	(57	)		$	16,551
Operating costs and expenses:
Cost of durable medical equipment sold and services			(3,689	)			-				-				-				-				(3,689	)
Cost of durable medical equipment rentals			(2,185	)			-				-				-				-				(2,185	)
Depreciation and amortization			(520	)			(179	)			(430	)			(1	)			-				(1,130	)
Stock-based compensation(2)			-				(98	)			-				(110	)			-				(208	)
Transaction costs(3)			-				-				-				(486	)			-				(486	)
Other general and administrative			(7,736	)			(566	)			(126	)			(752	)			57				(9,123	)
Total operating expenses			(14,130	)			(843	)			(556	)			(1,349	)			57				(16,821	)
Other income (expense):
Interest expense			(937	)			(41	)			(655	)			-				-				(1,633	)
Other income (expense)			-				-				-				(223	)			-				(223	)
Total other expense, net			(937	)			(41	)			(655	)			(223	)			-				(1,856	)
Total pre-tax income (loss)		$	(676	)		$	5			$	60			$	(1,515	)		$	-			$	(2,126	)

		For the six months ended December 31, 2020
(in thousands)		Durable Medical Equipment				Investment Management				Real Estate				General Corporate				Intercompany Eliminations(1)				Consolidated Total
Revenue:
Total revenue		$	29,153			$	1,533			$	2,548			$	136			$	(136	)		$	33,234
Operating costs and expenses:
Cost of durable medical equipment sold and services			(8,910	)			-				-				-				-				(8,910	)
Cost of durable medical equipment rentals			(3,536	)			-				-				-				-				(3,536	)
Depreciation and amortization			(925	)			(255	)			(861	)			(1	)			-				(2,042	)
Stock-based compensation(2)			-				(391	)			-				(323	)			-				(714	)
Transaction costs(3)			(87	)			-				-				(261	)			-				(348	)
Other selling, general and administrative			(15,799	)			(1,251	)			(252	)			(2,152	)			136				(19,318	)
Total operating expenses			(29,257	)			(1,897	)			(1,113	)			(2,737	)			136				(34,868	)
Other income (expense):
Interest expense			(1,396	)			(51	)			(1,297	)			(1,124	)			-				(3,868	)
Other income (expense)			(1,836	)			-				-				2,578				-				742
Total other income (expense), net			(3,232	)			(51	)			(1,297	)			1,454				-				(3,126	)
Total pre-tax income (loss)		$	(3,336	)		$	(415	)		$	138			$	(1,147	)		$	-			$	(4,760	)

		For the six months ended December 31, 2019
(in thousands)		Durable Medical Equipment				Investment Management				Real Estate				General Corporate				Intercompany Eliminations(1)				Consolidated Total
Revenue:
Total revenue		$	27,622			$	1,756			$	2,544			$	80			$	(80	)		$	31,922
Operating costs and expenses:
Cost of durable medical equipment sold and services			(7,152	)			-				-				-				-				(7,152	)
Cost of durable medical equipment rentals			(4,450	)			-				-				-				-				(4,450	)
Depreciation and amortization			(977	)			(358	)			(861	)			(1	)			-				(2,197	)
Stock-based compensation(2)			-				(273	)			-				(228	)			-				(501	)
Transaction costs(3)			-				-				-				(577	)			-				(577	)
Other selling, general and administrative			(14,608	)			(1,082	)			(250	)			(2,329	)			80				(18,189	)
Total operating expenses			(27,187	)			(1,713	)			(1,111	)			(3,135	)			80				(33,066	)
Other income (expense):
Interest expense			(1,933	)			(83	)			(1,313	)			-				-				(3,329	)
Other income (expense)			3				-				-				(692	)			-				(689	)
Total other income (expense), net			(1,930	)			(83	)			(1,313	)			(692	)			-				(4,018	)
Total pre-tax income (loss)		$	(1,495	)		$	(40	)		$	120			$	(3,747	)		$	-			$	(5,162	)

(1) The Company’s wholly-owned subsidiary, Great Elm DME Manager, LLC (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.  Additionally, the Company’s majority-owned subsidiary, 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 December 31, 2020
(in thousands)		Durable Medical Equipment				Investment Management				Real Estate				General Corporate				Total
Fixed assets, net		$	8,121			$	27			$	52,576			$	4			$	60,728
Identifiable intangible assets, net			7,374				2,035				4,622				-				14,031
Goodwill			50,010				-				-				-				50,010
Other assets			19,310				2,978				2,782				49,540				74,610
Total		$	84,815			$	5,040			$	59,980			$	49,544			$	199,379
		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

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