The Marygold Companies, Inc. (NYSE American: MGLD), a diversified global holding firm, reported fiscal year and fourth quarter results for the period ended June 30, 2026, revealing a strategic pivot toward its core fund management business and improved operational performance despite a continued net loss.
For fiscal 2026, revenue grew 8% to $25.3 million, up from $23.4 million in fiscal 2025. The company narrowed its net loss to $4.4 million, or $0.10 per share, compared to a net loss of $5.8 million, or $0.14 per share, in the prior year. The improvement came even as the fourth quarter saw a net loss of $3.7 million, or $0.09 per share, versus a $1.5 million loss in the year-ago quarter. That quarterly loss primarily reflected a $2.7 million write-off of intangible assets from the UK financial services business and a $0.9 million impairment of an illiquid investment.
“Our largest operating unit, USCF Investments, delivered strong growth in fiscal 2026, with revenue increasing 23%, fueled by a 41% rise in average assets under management (AUM),” said David Neibert, Chief Operations Officer. Average AUM climbed to $4.1 billion from $2.9 billion the previous year, driven by heightened energy-related commodity prices amid ongoing geopolitical uncertainty. USCF Investments, based in Walnut Creek, California, serves as manager, operator, or investment adviser to 17 exchange-traded products. More information is available at https://www.uscfinvestments.com/.
Nicholas Gerber, Chief Executive Officer, described fiscal 2026 as “a year of purposeful transformation.” The company made disciplined decisions to strengthen its foundation and concentrate resources on core fund management. As part of this process, it designated its New Zealand subsidiaries as discontinued operations, putting them up for sale, and sold its Canadian security business at the start of the year. It also paused fintech operations in the U.S. and U.K. “While the changes we made resulted in substantial non-cash write-offs that produced an operating loss for the year, we’re now positioned to operate with less overhead and expect to be on a path to profitability in the coming fiscal year,” Gerber said.
Among consumer-facing units, Original Sprout, a San Clemente-based hair and skin care producer, achieved 13% revenue growth and returned to profitability after a sales strategy overhaul. However, higher shipping and raw material costs weighed on margins across other consumer subsidiaries, including Gourmet Foods, a New Zealand bakery, and Printstock Products, a specialized food wrapper printer. Gourmet Foods operates under the Pat’s Pantry and Ponsonby Pies brands; its website is https://gourmetfoodsltd.co.nz/.
The UK financial services business, Marygold & Co. (UK) Limited, operates through Marygold & Co Limited and Step-by-Step Financial Planners, managing client wealth and offering a mobile fintech app. The write-off of intangible assets signals challenges in that market. More details can be found at https://marygoldandco.uk/.
At fiscal year-end, stockholders’ equity totaled $19.2 million, down from $23.0 million, while total assets were $24.0 million versus $30.4 million. Cash and cash equivalents stood at $2.9 million, compared to $5.0 million a year earlier. The company’s forward-looking statements indicate an expectation to return to profitability, though risks remain as disclosed in its SEC filings.
For leaders in business and technology, Marygold’s results underscore the importance of agile portfolio management and the potential of focused fund management in volatile commodity markets. The company’s decision to exit non-core operations and invest in USCF Investments may serve as a case study in strategic realignment amid economic uncertainty.
