The Marygold Companies, Inc. (NYSE American: MGLD), a diversified global holding firm, reported financial results for the fiscal year and fourth quarter ended June 30, 2026, revealing a strategic pivot that could reshape its future. While the company still posted a net loss, the narrowing of that loss and robust growth in its core fund management business signal potential for a turnaround.
For fiscal 2026, revenue rose 8% to $25.3 million, up from $23.4 million the prior year. The net loss improved to $4.4 million, or $0.10 per share, compared to a $5.8 million loss, or $0.14 per share, in fiscal 2025. The fourth quarter showed even stronger top-line momentum, with revenue jumping 26% to $6.9 million. However, the quarterly net loss widened to $3.7 million, largely due to 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.
The standout performer was USCF Investments, the company’s largest operating unit, which saw revenue climb 23% on a 41% increase in average assets under management (AUM). Average AUM reached $4.1 billion, up from $2.9 billion, driven by higher energy-related commodity prices amid geopolitical uncertainty. “Our largest operating unit, USCF Investments, delivered strong growth in fiscal 2026,” said David Neibert, Chief Operations Officer. The unit’s website, https://www.uscfinvestments.com/, provides details on its 17 exchange-traded products.
Consumer-facing subsidiaries faced margin pressure from higher shipping and raw material costs, but operational improvements reduced overall losses. Original Sprout, a hair and skin care brand (www.originalsprout.com), achieved 13% revenue growth and returned to profitability after a sales strategy overhaul. Gourmet Foods, a New Zealand bakery (https://gourmetfoodsltd.co.nz/), and its subsidiary Printstock Products (https://www.printstock.co.nz) continued to operate amid a broader restructuring.
CEO Nicholas Gerber called fiscal 2026 “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. “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, which includes Marygold & Co. (UK) Limited (https://marygoldandco.uk/), Tiger Financial and Asset Management (http://www.tfam.co.uk/), and Step-by-Step Financial Planners (https://www.sbsfp.co.uk/), faced challenges leading to the write-off. The company’s balance sheet showed total assets of $24.0 million, down from $30.4 million, and cash and cash equivalents of $2.9 million, compared to $5.0 million a year earlier. Stockholders’ equity fell to $19.2 million from $23.0 million.
Investors will be watching whether the cost-cutting and focus on fund management can deliver sustained profitability. The company’s ability to capitalize on its core strength while shedding underperforming units may determine its long-term success.
