The Marygold Companies, Inc. (NYSE American: MGLD), a diversified global holding firm, reported fiscal 2026 revenue growth of 8% to $25.3 million, up from $23.4 million the prior year. The company reduced its net loss to $4.4 million, or $0.10 per share, from $5.8 million, or $0.14 per share, in fiscal 2025. For the fourth quarter, revenue jumped 26% to $6.9 million, but the net loss widened to $3.7 million due to a $2.7 million write-off of intangible assets in the UK financial services business and a $0.9 million impairment of an illiquid investment.
USCF Investments, the company’s largest operating unit, delivered 23% revenue growth, driven by a 41% rise in average assets under management (AUM) to $4.1 billion. “Average AUM increased to $4.1 billion for the year, up from $2.9 billion in the prior fiscal year, driven primarily by heightened energy-related commodity prices amid ongoing geopolitical uncertainty,” said David Neibert, Chief Operations Officer. USCF Investments, based in Walnut Creek, California, serves as manager, operator, or investment adviser to 17 exchange-traded products traded on the NYSE Arca. More information is available at https://www.uscfinvestments.com/.
While higher shipping and raw material costs pressured margins across consumer-facing subsidiaries, operational improvements reduced overall losses. Original Sprout, a beauty products subsidiary, achieved 13% revenue growth and returned to profitability after a sales strategy overhaul. The company’s other units include Gourmet Foods, a New Zealand bakery acquired in 2015 that produces meat pies under the Pat’s Pantry and Ponsonby Pies brands (https://gourmetfoodsltd.co.nz/), and Printstock Products, a specialized food wrapper printer (https://www.printstock.co.nz).
CEO Nicholas Gerber described fiscal 2026 as “a year of purposeful transformation.” The company designated its New Zealand subsidiaries as discontinued operations and put them up for sale, sold its Canadian security business, and paused fintech operations in the U.S. and U.K. These moves resulted in substantial non-cash write-offs but are expected to lower overhead and position the company for profitability. “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.
The UK financial services segment, Marygold & Co. (UK) Limited, operates through two investment advisory units: Marygold & Co Limited (formerly Tiger Financial and Asset Management) (http://www.tfam.co.uk/) and Step-by-Step Financial Planners (https://www.sbsfp.co.uk/). It also offers a mobile fintech app. The write-off of intangible assets in this business reflects the challenges faced in the UK market.
At fiscal year-end, stockholders’ equity fell to $19.2 million from $23.0 million, and total assets decreased to $24.0 million from $30.4 million. Cash and cash equivalents stood at $2.9 million, down from $5.0 million. The company’s focus on core fund management and the sale of non-core assets signal a strategic shift aimed at restoring shareholder value and achieving profitability in the coming fiscal year.
