SAN CLEMENTE, CA - November 6, 2026 (NEWMEDIAWIRE) - The Marygold Companies, Inc. (the “Company” or “Marygold”) (NYSE American: MGLD), a global holding firm with a focus on financial services, today reported financial results for its first fiscal quarter ended September 30, 2026.
Revenue for the three months ended September 30, 2026 rose to $9.4 million, excluding $1.5 million in revenue from the Company’s New Zealand subsidiaries which have been classified as discontinued operations, as compared with $5.2 million for the three months ended September 30, 2025.
Marygold reported net income from continuing operations of $1.7 million for the most recent fiscal first quarter versus a net loss from continuing operations of $0.5 million in last year’s first quarter. Net income for the fiscal 2027 first quarter amounted to $1.8 million, equal to $0.04 per share, compared with a net loss of $0.4 million, or $0.01 per share, a year ago.
The Company’s balance sheet remained strong at the close of the fiscal 2027 first quarter, with cash and cash equivalents of $4.5 million; total assets of $25.4 million, and total stockholders’ equity of $20.9 million, all improved since the prior fiscal year-end.
David Neibert, Chief Operations Officer, said, “Revenues and income increased significantly for the first quarter, primarily reflecting the increased activity in energy related ETFs, due in part to the Iran war. Our other non-financial services operations, including discontinued operations in New Zealand, were also profitable during the first quarter. However, our UK investment advisory businesses recorded a net loss of $0.1 million for the quarter as compared with a net loss of $0.4 million for the prior year quarter, showing a significant reduction in expenses associated with the mobile fintech banking app now on pause.
“The Company’s largest operating unit, USCF Investments, delivered strong growth during the first quarter, with revenue nearly doubling to $8.4 million from $4.3 million a year ago. The increase is attributed primarily to the increase in average assets under management, which also nearly doubled to $5.5 billion from $2.9 billion in the prior year quarter. The growth reflected energy price volatility associated with geopolitical events in the Middle East and Eastern Europe, as well as economic uncertainty affecting inventory and demand.”
Nicholas Gerber, Chief Executive Officer, added, “During the quarter, the Company announced it had entered into a definitive merger agreement under which funds managed by Madison Dearborn Partners will acquire all of the outstanding shares of The Marygold Companies for $2.00 per share, representing a premium of 100% over the Company’s closing share price on September 24, 2026, the day before the agreement was announced. The transaction is expected to close during the first half of 2027, or earlier, upon satisfaction of a number of closing conditions that are usual and customary for transactions of this nature.”
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 16 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. These entities are now classified as “Discontinued Operations” in our Condensed Consolidated Financial Statements.
San Clemente, Calif.-based Original Sprout, www.originalsprout.com, acquired in 2017, produces a full line of hair and skin care products distributed throughout the U.S. and in many regions throughout the world.
Marygold & Co. (UK) Limited, https://marygoldandco.uk/, 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, and beauty products, under the trade names USCF Investments, Marygold & Co., Step-By-Step Financial Planners, Marygold & Co. Limited, Gourmet Foods, Printstock Products, and Original Sprout, respectively. Offices and manufacturing operations are in the U.S., New Zealand, and the U.K. 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. Such forward-looking statements, including, but not limited to completion of the transaction under which funds managed by Madison Dearborn Partners will acquire all of the outstanding shares of The Marygold Companies, involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. Readers should refer to the further detail of the risks disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission and in the Company’s other filings with the Securities and Exchange Commission. The foregoing list of factors is 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.
Media and investors, for more information, contact
Roger S. Pondel
PondelWilkinson
310-279-5965
rpondel@pondel.com
Contact the Company
David Neibert, Chief Operations Officer
949-218-8542
dneibert@themarygoldcompanies.com
(Financial Tables Follow)
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except per share data)
(unaudited)
|
|
|
September 30, |
|
|
June 30, |
|
||
|
ASSETS |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
4,484 |
|
|
$ |
2,880 |
|
|
Accounts receivable, net (of which $2,871 and $2,684, respectively, due from related parties) |
|
|
3,192 |
|
|
|
2,892 |
|
|
Inventories |
|
|
941 |
|
|
|
1,051 |
|
|
Prepaid income tax and tax receivable |
|
|
300 |
|
|
|
814 |
|
|
Investments, at fair value |
|
|
8,109 |
|
|
|
7,848 |
|
|
Assets held for sale |
|
|
2,478 |
|
|
|
2,517 |
|
|
Other current assets |
|
|
567 |
|
|
|
513 |
|
|
Total current assets |
|
|
20,071 |
|
|
|
18,515 |
|
|
Operating lease right-of-use assets |
|
|
304 |
|
|
|
429 |
|
|
Deferred tax assets, net |
|
|
3,599 |
|
|
|
3,599 |
|
|
Other assets |
|
|
1,434 |
|
|
|
1,436 |
|
|
Total assets |
|
$ |
25,408 |
|
|
$ |
23,979 |
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
3,377 |
|
|
$ |
3,364 |
|
|
Lease liabilities, current portion |
|
|
232 |
|
|
|
314 |
|
|
Liabilities associated with assets held for sale |
|
|
758 |
|
|
|
921 |
|
|
Total current liabilities |
|
|
4,367 |
|
|
|
4,599 |
|
|
Lease liabilities, net of current portion |
|
|
109 |
|
|
|
154 |
|
|
Total liabilities |
|
|
4,476 |
|
|
|
4,753 |
|
|
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
Preferred stock, par value $0.001; 50,000 shares authorized Series B: 13 shares issued and outstanding at both September 30, 2026 and June 30, 2026 |
|
|
- |
|
|
|
- |
|
|
Common stock, $0.001 par value; 900,000 shares authorized; 42,760 and 42,712 shares issued and outstanding at September 30, 2026 and June 30, 2026, respectively |
|
|
42 |
|
|
|
42 |
|
|
Additional paid-in capital |
|
|
15,359 |
|
|
|
15,270 |
|
|
Accumulated other comprehensive (loss) income |
|
|
(49) |
|
|
87 |
|
|
|
Retained earnings |
|
|
5,580 |
|
|
|
3,827 |
|
|
Total stockholders’ equity |
|
|
20,932 |
|
|
|
19,226 |
|
|
Total liabilities and stockholders’ equity |
|
$ |
25,408 |
|
|
$ |
23,979 |
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
|
|
|
Quarters Ended September 30, |
|
|||||
|
|
|
2026 |
|
|
2025 |
|
||
|
Revenue |
|
|
|
|
|
|
|
|
|
Fund management - related party |
|
$ |
8,404 |
|
|
$ |
4,329 |
|
|
Beauty products |
|
|
792 |
|
|
|
671 |
|
|
Financial services |
|
|
160 |
|
|
|
208 |
|
|
Revenue |
|
|
9,356 |
|
|
|
5,208 |
|
|
Cost of revenue |
|
|
403 |
|
|
|
301 |
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
8,953 |
|
|
|
4,907 |
|
|
Operating expense |
|
|
|
|
|
|
|
|
|
Fund operations |
|
|
2,448 |
|
|
|
1,525 |
|
|
Salaries and compensation |
|
|
2,391 |
|
|
|
2,330 |
|
|
General and administrative expense |
|
|
1,501 |
|
|
|
1,942 |
|
|
Marketing and advertising |
|
|
752 |
|
|
|
475 |
|
|
Total operating expenses |
|
|
7,092 |
|
|
|
6,272 |
|
|
Income (loss) from continuing operations |
|
|
1,861 |
|
|
|
(1,365) |
|
|
Other income: |
|
|
|
|
|
|
|
|
|
Interest and dividend income |
|
|
88 |
|
|
|
84 |
|
|
Other income, net |
|
|
199 |
|
|
|
666 |
|
|
Total other income, net |
|
|
287 |
|
|
|
750 |
|
|
Income (loss) from continuing operations before income taxes |
|
|
2,148 |
|
|
|
(615) |
|
|
(Provision) benefit from income taxes |
|
|
(473) |
|
|
153 |
|
|
|
Net income (loss) from continuing operations |
|
|
1,675 |
|
|
|
(462) |
|
|
Net income from discontinued operations |
|
|
78 |
|
|
|
106 |
|
|
Net income (loss) |
|
$ |
1,753 |
|
|
$ |
(356) |
|
|
Weighted average shares of common stock |
|
|
|
|
|
|
|
|
|
Basic |
|
|
42,973 |
|
|
|
42,959 |
|
|
Diluted |
|
|
42,977 |
|
|
|
42,959 |
|
|
Net income (loss) from continuing operations per common share – basic and diluted |
|
$ |
0.04 |
|
|
$ |
(0.01) |
|
|
Net income (loss) per common share – basic and diluted |
|
$ |
0.04 |
|
|
$ |
(0.01) |
|
View the original release on www.newmediawire.com
