MGLD Marygold Companies Inc

The Marygold Companies, Inc. (“TMC,” or the “Company”) (NYSE American: MGLD), a diversified global holding firm with a focus on financial services, today reported financial results for the three and nine months ended March 31, 2025.

Revenue for the third fiscal quarter ended March 31, 2025 was $7.0 million, compared with $7.9 million a year ago. As anticipated, the Company recorded a net loss of $1.0 million, equal to a loss of $0.02 per share, for the fiscal 2025 third quarter, versus a net loss of $0.5 million, or $0.01 per share, for the same period last year.

For the nine months ended March 31, 2025, revenue was $22.9 million, versus $24.6 million for the comparable period last year, a decline of 7%. A net loss of $4.3 million, or $0.11 per share, was recorded for the most recent nine-month period, versus a net loss of $2.2 million, or $0.05 per share, for the same period a year ago.

At March 31, 2025, cash and cash equivalents amounted to $4.3 million, and investments totaled $11.3 million. Total assets at March 31, 2025, were $33.5 million, and total stockholders’ equity at the quarter’s end was $24.3 million.

“Results for the third fiscal quarter were no surprise, as the operating loss reflected continued expenses at TMC’s Marygold & Co. subsidiary. We had also begun to ramp up our focus toward the launch of the fintech app in the U.K., and that increased expenses,” said David Neibert, TMC’s Chief Operations Officer. “The quarter’s performance was also negatively impacted by reduced average assets under management (AUM) at the Company’s largest operating subsidiary, USCF Investments, due largely to market volatility in the commodities sector. Average AUM for the 2025 third quarter decreased to $2.6 billion from $3.0 billion in the prior year third quarter.

“During the quarter, TMC raised $1.8 million in net proceeds from an underwritten public offering. Proceeds are being applied to debt reduction, to make further capital contributions to the Marygold & Co. subsidiaries in the U.S. and U.K., and for general working capital and corporate purpose,” Neibert said.

Nicholas Gerber, TMC’s Chief Executive Officer, said, “While operating losses are expected to continue over the near term due to our launch of the fintech app in the U.K. and its related marketing expenses, we are building for the future and believe the vast majority of our development expenses are now behind us. At the same time, we are reducing expenses throughout the Company and seeking to monetize our earlier investments in order to return the consolidated company to profitability. The fintech app debuted in the U.K. subsequent to the close of the third quarter, and shortly thereafter it was gratifying to learn that it was named among the top five ‘Best Free Budgeting Apps’ by Forbes Advisor, a newsletter that provides independent coverage of personal finance topics in the U.K.” Gerber added.

Business Units

The Company’s USCF Investments subsidiary, https://www.uscfinvestments.com/, acquired in 2016 and based in Walnut Creek, Calif., serves as manager, operator or investment adviser to 15 exchange traded products, structured as limited partnerships or investment trusts that issue shares trading on the NYSE Arca.

Gourmet Foods, https://gourmetfoodsltd.co.nz/, acquired in 2015, is a commercial-scale bakery that produces and distributes iconic meat pies and pastries throughout New Zealand under the brand names Pat’s Pantry and Ponsonby Pies. Acquired by Gourmet Foods in 2020, Printstock Products Limited, https://www.printstock.co.nz, is a printer of specialized food wrappers and is located in Napier, New Zealand.

Brigadier Security Systems, www.brigadiersecurity.com, acquired in 2016 and headquartered in Saskatoon, Canada, provides comprehensive security solutions to homes and businesses, government offices, schools and other public buildings throughout the province under the brands Brigadier Security Systems in Saskatoon and Elite Security in Regina, Canada.

Acquired in 2017, San Clemente, Calif.-based Original Sprout, www.originalsprout.com, produces and distributes a full line of vegan, safe, non-toxic hair and skin care products, including a “reef safe” sun screen, throughout the U.S. and in many regions throughout the world.

Marygold & Co., https://marygoldandco.com/, headquartered in Denver, Colo., is a wholly owned TMC subsidiary established in 2019 to explore opportunities in the financial technology sector. Marygold & Co. (UK) Limited, https://marygoldandco.uk/, also a wholly owned TMC subsidiary, was established in the U.K. in 2021 and operates through two U.K.-based investment advisory business units: Marygold & Co Limited (fka/Tiger Financial and Asset Management), acquired in 2022, http://www.tfam.co.uk/, and Step-by-Step Financial Planners, acquired in 2024, https://www.sbsfp.co.uk/, that manage clients’ financial wealth across a diverse product range.

About The Marygold Companies, Inc.

The Marygold Companies, Inc. was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in financial services, food manufacturing, printing, security systems and beauty products, under the trade names USCF Investments, Marygold & Co., Step-By-Step Financial Planners, Marygold & Co. Limited, Gourmet Foods, Printstock Products, Brigadier Security Systems and Original Sprout, respectively. Offices and manufacturing operations are in the U.S., New Zealand, U.K., and Canada. For more information, visit www.themarygoldcompanies.com.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from the expected results and, consequently, should not be relied upon as predictions of future events. These forward-looking statements, including the factors disclosed in the Company’s most recent Annual Report on Form 10-K, and in the Company’s other filings with the Securities and Exchange Commission, are not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

THE MARYGOLD COMPANIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

(unaudited)

 

 

 

March 31, 2025

 

June 30, 2024

ASSETS

 

 

 

 

 

 

CURRENT ASSETS

 

 

 

 

 

 

Cash and cash equivalents

 

$

4,321

 

 

$

5,461

 

Accounts receivable, net (of which $1,302 and $1,455, respectively, due from related parties)

 

 

2,319

 

 

 

2,678

 

Inventories

 

 

2,145

 

 

 

2,191

 

Prepaid income tax and tax receivable

 

 

1,131

 

 

 

1,338

 

Investments, at fair value

 

 

11,303

 

 

 

9,551

 

Other current assets

 

 

703

 

 

 

3,034

 

Total current assets

 

 

21,922

 

 

 

24,253

 

Restricted cash

 

 

62

 

 

 

62

 

Property and equipment, net

 

 

997

 

 

 

1,166

 

Operating lease right-of-use assets

 

 

1,108

 

 

 

974

 

Goodwill

 

 

2,481

 

 

 

2,481

 

Intangible assets, net

 

 

1,131

 

 

 

1,375

 

Deferred tax assets, net

 

 

1,969

 

 

 

1,969

 

Other assets

 

 

3,799

 

 

 

619

 

Total assets

 

$

33,469

 

 

$

32,899

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

 

 

Accounts payable and accrued expenses

 

$

3,667

 

 

$

4,021

 

Lease liabilities, current portion

 

 

614

 

 

 

620

 

Purchase consideration payable, current portion

 

 

242

 

 

 

277

 

Notes payable, current portion

 

 

3,663

 

 

 

315

 

Total current liabilities

 

 

8,186

 

 

 

5,233

 

Purchase consideration payable, net of current portion

 

 

-

 

 

 

237

 

Lease liabilities, net of current portion

 

 

647

 

 

 

455

 

Deferred tax liabilities, net

 

 

360

 

 

 

360

 

Total long-term liabilities

 

 

1,007

 

 

 

1,052

 

Total liabilities

 

 

9,193

 

 

 

6,285

 

STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

Preferred stock, par value $0.001; 50,000 shares authorized

 

 

 

 

 

 

Series B: 13 and 49 shares issued and outstanding at March 31, 2025 and June 30, 2024, respectively

 

 

-

 

 

 

-

 

Common stock, $0.001 par value; 900,000 shares authorized; 42,837 and 40,096 shares issued and outstanding at March 31, 2025 and June 30, 2024, respectively

 

 

43

 

 

 

40

 

Additional paid-in capital

 

 

15,125

 

 

 

12,825

 

Accumulated other comprehensive loss

 

 

(565

)

 

 

(269

)

Retained earnings

 

 

9,673

 

 

 

14,018

 

Total stockholders’ equity

 

 

24,276

 

 

 

26,614

 

Total liabilities and stockholders’ equity

 

$

33,469

 

 

$

32,899

 

 

THE MARYGOLD COMPANIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

Nine Months Ended March 31,

 

 

2025

 

2024

 

2025

 

2024

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

Fund management - related party

 

$

4,093

 

 

$

4,406

 

 

$

13,369

 

 

$

14,453

 

Food products

 

 

1,505

 

 

 

1,836

 

 

 

5,014

 

 

 

5,485

 

Beauty products

 

 

641

 

 

 

858

 

 

 

2,071

 

 

 

2,475

 

Security systems

 

 

568

 

 

 

650

 

 

 

1,842

 

 

 

1,773

 

Financial services

 

 

220

 

 

 

130

 

 

 

644

 

 

 

385

 

Revenue

 

 

7,027

 

 

 

7,880

 

 

 

22,940

 

 

 

24,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of revenue

 

 

1,755

 

 

 

2,323

 

 

 

5,958

 

 

 

6,449

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit

 

 

5,272

 

 

 

5,557

 

 

 

16,982

 

 

 

18,122

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expense

 

 

 

 

 

 

 

 

 

 

 

 

Salaries and compensation

 

 

2,605

 

 

 

2,690

 

 

 

8,699

 

 

 

8,279

 

General and administrative expense

 

 

2,191

 

 

 

2,166

 

 

 

7,117

 

 

 

6,730

 

Fund operations

 

 

1,140

 

 

 

1,295

 

 

 

4,118

 

 

 

3,752

 

Marketing and advertising

 

 

697

 

 

 

745

 

 

 

2,103

 

 

 

2,426

 

Depreciation and amortization

 

 

143

 

 

 

132

 

 

 

445

 

 

 

439

 

Total operating expenses

 

 

6,776

 

 

 

7,028

 

 

 

22,482

 

 

 

21,626

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from operations

 

 

(1,504

)

 

 

(1,471

)

 

 

(5,500

)

 

 

(3,504

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

 

78

 

 

 

259

 

 

 

1,293

 

 

 

580

 

Interest expense

 

 

(325

)

 

 

(5

)

 

 

(718

)

 

 

(12

)

Other income (expense), net

 

 

432

 

 

 

333

 

 

 

(692

)

 

 

(116

)

Total other income (expense), net

 

 

185

 

 

 

587

 

 

 

(117

)

 

 

452

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss before income taxes

 

 

(1,319

)

 

 

(884

)

 

 

(5,617

)

 

 

(3,052

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Benefit from income taxes

 

 

307

 

 

 

355

 

 

 

1,273

 

 

 

840

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(1,012

)

 

$

(529

)

 

$

(4,344

)

 

$

(2,212

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

40,816

 

 

 

40,401

 

 

 

40,843

 

 

 

40,401

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per common share

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

$

(0.02

)

 

$

(0.01

)

 

$

(0.11

)

 

$

(0.05

)

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250508024203/en/

Media and investors, for more Information, contact: Roger S. Pondel PondelWilkinson Inc. 310-279-5965 rpondel@pondel.com

Contact the Company: David Neibert, Chief Operations Officer 949-429-5370 dneibert@themarygoldcompanies.com