The Marygold Companies, Inc. (NYSE American: MGLD) reported financial results for the fiscal year and fourth quarter ended June 30, 2026, revealing a mix of revenue growth and strategic restructuring that led to a narrowed annual net loss but a significant fourth-quarter loss due to write-offs. The company, a diversified global holding firm with a focus on financial services, saw fiscal 2026 revenue rise 8% to $25.3 million, up from $23.4 million the prior year. Net loss for the year improved to $4.4 million, or $0.10 per share, compared to a net loss of $5.8 million, or $0.14 per share, in fiscal 2025.
However, the fourth quarter painted a more complex picture. Revenue for the quarter increased 26% to $6.9 million, but the net loss widened to $3.7 million, or $0.09 per share, versus a $1.5 million loss in the year-ago quarter. The increased loss was primarily attributed to a $2.7 million write-off of intangible assets related to the company’s UK financial services business and a $0.9 million impairment of an illiquid investment. These non-cash charges reflect the company’s strategic decisions to pause fintech operations in the U.S. and U.K. and to focus resources on its core fund management businesses.
“Fiscal 2026 was a year of purposeful transformation for the Company,” said Nicholas Gerber, Chief Executive Officer. “We made disciplined, strategic decisions to strengthen our foundation, concentrate resources on our core fund management businesses, and position the company for long-term success.” As part of this transformation, the company designated its New Zealand subsidiaries as discontinued operations, put them up for sale, and sold its Canadian security business at the start of the year. Gerber noted that while these changes resulted in substantial non-cash write-offs, “we’re now positioned to operate with less overhead and expect to be on a path to profitability in the coming fiscal year.”
The standout performer was USCF Investments, the company’s largest operating unit, which saw revenue climb 23% to $21.1 million. Average assets under management (AUM) surged 41% to $4.1 billion, driven by heightened energy-related commodity prices amid ongoing geopolitical uncertainty. “USCF Investments delivered strong growth in fiscal 2026,” said David Neibert, Chief Operations Officer. The subsidiary, based in Walnut Creek, California, serves as manager, operator, or investment adviser to 17 exchange-traded products. More information can be found at https://www.uscfinvestments.com/.
On the consumer side, Original Sprout, the company’s beauty products unit, 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-facing subsidiaries. Gourmet Foods, a New Zealand-based bakery acquired in 2015, produces meat pies and pastries under brands like Pat’s Pantry and Ponsonby Pies (https://gourmetfoodsltd.co.nz/). Its subsidiary Printstock Products Limited, a printer of specialized food wrappers, operates in Napier, New Zealand (https://www.printstock.co.nz).
The company’s UK financial services operations, Marygold & Co. (UK) Limited, include investment advisory units Marygold & Co Limited (formerly Tiger Financial and Asset Management) and Step-by-Step Financial Planners. These units manage clients’ wealth and offer a mobile fintech app. More details are available at https://marygoldandco.uk/, http://www.tfam.co.uk/, and https://www.sbsfp.co.uk/.
At fiscal year-end, stockholders’ equity stood at $19.2 million, down from $23.0 million, while total assets decreased to $24.0 million from $30.4 million. Cash and cash equivalents were $2.9 million, compared to $5.0 million a year earlier. The company’s balance sheet reflects the impact of divestitures and impairments, but management believes the streamlined structure will reduce overhead and support a return to profitability. For more information, visit www.themarygoldcompanies.com.
Investors will be watching whether the strategic pivot can translate into sustained earnings growth, especially as USCF Investments continues to benefit from commodity market dynamics. The company’s ability to execute on its core fund management focus while managing costs will be critical in the coming fiscal year.
