10-Q · May 8, 2026
Marygold Companies, Inc. reported increased quarterly revenue and a significant net income turnaround, with revenue rising to $7.189 million, a 30% increase from $5.522 million in the prior year. The operating loss…
Earnings analysis · 10-K
MGLD earnings analysis
Filed September 18, 2026 · Our reading of the company's report
The latest report
Marygold delivered improved fiscal 2026 operating momentum, led by fund management revenue growth from higher AUM and a return to profitability at Original Sprout. However, the company remained loss-making, with a…
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Marygold delivered improved fiscal 2026 operating momentum, led by fund management revenue growth from higher AUM and a return to profitability at Original Sprout. However, the company remained loss-making, with a $4.371 million net loss, approximately $2.319 million of operating cash burn, and cash down 42% to $2.880 million. Management is narrowing the portfolio by exiting Food Products and pausing fintech investment, but U.K. financial services impairment, USO litigation and execution risk remain material offsets.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.1
What stood out
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Revenue and gross profit improved
Fiscal 2026 revenue increased 8% to $25.313 million from $23.434 million, while gross profit rose 16% to $23.449 million. The gross margin was approximately 92.6%, compared with approximately 86.5% in fiscal 2025.
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Fund management drives growth
Fund management revenue rose 23% to $21.126 million as average U.S. AUM increased 41% to $4.1 billion from $2.9 billion. Fund management remained profitable with $2.912 million of operating income despite a $2.5 million reimbursement for a USO trading error.
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Beauty products returned to profit
Original Sprout revenue increased 13% to $3.367 million, and the segment moved from a $0.395 million operating loss to $0.293 million of operating income. Management attributed the improvement to better e-commerce pricing and expanded distribution in Asia, as well as lower marketing and warehouse costs.
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Portfolio rationalization underway
The company is refocusing on fund management and financial services: it approved a plan on March 31, 2026 to dispose of the New Zealand Food Products segment and paused U.K. fintech offering, development and marketing effective June 30, 2026. The U.S. fintech app had already been paused effective March 31, 2025.
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Loss trajectory improved
Net loss improved 25% to $4.371 million from $5.820 million, and loss from continuing operations improved 12% to $6.012 million from $6.835 million. The improvement included a $4.6 million reduction in U.S. fintech losses after the app pause.
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Debt repaid, but liquidity tightened
The company paid $1.316 million of principal on its note payable and stated it had no other indebtedness at June 30, 2026. It also received $1.066 million of net proceeds from the Brigadier sale, although cash and cash equivalents still declined 42% to $2.880 million.
What to watch
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Unquantified USO litigation exposure
USCF LLC remains subject to multiple USO-related class and derivative actions. No accrual was recorded for fiscal 2026 or 2025, and the company said it cannot reasonably estimate potential losses; an adverse outcome could materially affect financial condition, results and cash flows.
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U.K. financial services deterioration
The U.K. financial services business recorded a $2.7 million impairment for goodwill and intangible assets after increased losses, client-account losses and a former executive’s departure. Financial services generated only $0.820 million of revenue but incurred a $4.079 million operating loss in fiscal 2026.
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Trading-control failure
A USO oil-futures execution error required USCF to reimburse the fund $2.5 million, recorded as a reduction of fund-management revenue. Although the company called it isolated and enhanced controls, a recurrence could create additional reimbursement, regulatory, litigation and reputational costs.
Management's outlook
The 10-K provides no numerical revenue or EPS guidance. Management said it expects proceeds from the sale of the Food Products segment over the coming 12 months and plans to further curtail funding for fintech operations; annual outlook may be addressed in the earnings press release or call.
Earlier filings 4
10-Q · February 5, 2026
Marygold reported quarterly revenue of $7,643,000 and GAAP diluted loss per share of $0.01 for the three months ended December 31, 2025. Gross margin remained strong at 74.0% while operating loss narrowed to $(631,000)…
10-Q · November 7, 2025
Marygold reported quarterly revenue of $6,963,000 (down from $7,910,000 a year ago) and GAAP net loss of $356,000 (improved from a $1,586,000 loss prior-year). Gross margin expanded to about 77.1% while operating loss…
10-Q · May 8, 2025
Marygold reported Q3 revenue of $7,027,000, down $853,000 (10.8%) versus the prior-year quarter, with gross margin expanding to 75.0% but an operating loss of $1,504,000 (operating margin -21.4%). Net loss widened to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.