Exhibit 99.1

 

The Marygold Companies Reports 30.2% Revenue Increase and Profitability

for the Third Fiscal Quarter ended March 31, 2026

 

—Positive Performance Reflects Significant Growth in USCF Fund Management

Coupled with a Curtailment of Fintech Expenses—

 

San Clemente, Calif., May 11, 2026—The Marygold Companies, Inc. (the “Company”) (NYSE American: MGLD), a diversified global holding firm with a focus on financial services, today reported improved financial results for the three and nine months ended March 31, 2026.

 

Revenue for the 2026 third fiscal quarter rose 30.2% to $7.2 million, from $5.5 million last year, which included $0.6 million from the Company’s Canadian subsidiary that was sold in July 2025. Net income increased to $222,000, equal to $0.01 per share, from a loss of $1.0 million, or a loss of $0.2 per share, a year ago.

 

For the nine months ended March 31, 2026, revenue advanced to $18.4 million from $17.9 million in the comparable prior year period, which included $1.8 million from the Company’s previously owned Canadian subsidiary. The Company’s net loss for the 2026 year-to-date period was reduced to $0.7 million, or a loss of $0.02 per share, from a net loss of $4.3 million, equal to a loss of $0.11 per share, a year ago. The current year to date period includes a $0.5 million gain on the sale of the Company’s Canadian subsidiary.

 

The Company’s balance sheet remains strong. At March 31, 2026, cash and cash equivalents amounted to $3.0 million, and investments totaled $7.9 million. Total assets at March 31, 2026, were $28.1 million, and total stockholders’ equity at the quarter’s end was $22.9 million.

 

“In keeping with our transformation strategy to refocus The Marygold Companies’ resources on ETF fund management and financial services, we have initiated a formal process to sell our New Zealand businesses, comprised of Gourmet Foods and Printstock Products,” said David Neibert, Chief Operations Officer. “These businesses have now been classified as discontinued operations, and it is our goal to effect a sale within the next 12 months. This initiative follows the disposition in July 2025 of our wholly owned Canadian subsidiary, Brigadier Security Systems Ltd., for $2.3 million.

 

“Our largest operating unit, USCF Investments, performed well during the quarter, with revenues increasing 55% to $6.3 million from $4.1 million a year ago. The growth was primarily attributable to an 81% increase in assets under management (AUM), which averaged $4.7 billion for the 2026 third fiscal quarter, compared with $2.6 billion last year. The AUM increase largely reflected the geopolitical situation in the Middle East and Eastern Europe, with oil and other commodity price increases. We also significantly decreased costs in the fintech sector, including reducing labor and other expenses that previously prevented us from achieving profitable operations on a consolidated basis.”

 

Nicholas Gerber, Chief Executive Officer, added, “We are making deliberate, sometimes difficult, choices to reshape the Company around a clear, focused vision. By divesting businesses that do not align with our core financial services sector, we aim to concentrate our resources to position the Company to deliver strong long-term returns for our shareholders. During this process, we continue to support our non-core subsidiaries, which are expected to continue with normal operations until such time as a transaction is consummated.”

 

Business Units

 

The Company’s USCF Investments subsidiary, https://www.uscfinvestments.com/, acquired in 2016 and based in Walnut Creek, Calif., serves as manager, operator or investment adviser to 16 exchange traded products, structured as limited partnerships or investment trusts that issue shares trading on the NYSE Arca.

 

Gourmet Foods, https://gourmetfoodsltd.co.nz/, acquired in 2015, is a commercial-scale bakery that produces and distributes iconic meat pies and pastries throughout New Zealand under the brand names Pat’s Pantry and Ponsonby Pies. Acquired by Gourmet Foods in 2020, Printstock Products Limited, https://www.printstock.co.nz, is a printer of specialized food wrappers and is located in Napier, New Zealand.

 

 

 

 

San Clemente, Calif.-based Original Sprout, www.originalsprout.com, acquired in 2017, produces a full line of hair and skin care products distributed throughout the U.S. and in many regions throughout the world.

 

Marygold & Co. (UK) Limited, https://marygoldandco.uk/, was established in the U.K. in 2021 and operates through two U.K.-based investment advisory business units: Marygold & Co Limited (fka/Tiger Financial and Asset Management), acquired in 2022, http://www.tfam.co.uk/, and Step-by-Step Financial Planners, acquired in 2024, https://www.sbsfp.co.uk/, that manage clients’ financial wealth across a diverse product range. They also offer individuals and businesses in the U.K. a mobile fintech app that provides a high interest rate on deposits and intuitive money management tools.

 

About The Marygold Companies, Inc.

 

The Marygold Companies, Inc. was founded in 1996 and repositioned as a global holding firm in 2015. The Company currently has operating subsidiaries in financial services, food manufacturing, printing, and beauty products, under the trade names USCF Investments, Marygold & Co., Step-By-Step Financial Planners, Marygold & Co. Limited, Gourmet Foods, Printstock Products, and Original Sprout, respectively. Offices and manufacturing operations are in the U.S., New Zealand, and the U.K. For more information, visit www.themarygoldcompanies.com.

 

Forward-Looking Statements

 

This press release includes “forward-looking statements” within the meaning of U.S. federal securities laws. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may” “will,” “could,” “should” “believes,” “predicts,” “potential,” “continue” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements, including, but not limited to successfully divesting non-core businesses, involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results and, consequently, you should not rely on these forward-looking statements as predictions of future events. Readers should refer to the further detail of the risks disclosed in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission and in the Company’s other filings with the Securities and Exchange Commission. The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

 

 

 

 

Media and investors, for more Information, contact:

Roger S. Pondel

PondelWilkinson

310-279-5965

rpondel@pondel.com

 

Contact the Company:

David Neibert, Chief Operations Officer

949-429-5370

dneibert@themarygoldcompanies.com

 

(Financial Tables Follow)

 

 

 

 

THE MARYGOLD COMPANIES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share data)

(unaudited)

 

   March 31, 2026   June 30, 2025 
ASSETS          
           
CURRENT ASSETS          
Cash and cash equivalents  $2,975   $5,004 
Accounts receivable, net (of which $2,719 and $1,281, respectively, due from related parties)   2,888    1,778 
Inventories   1,055    928 
Prepaid income tax and tax receivable   1,018    833 
Investments, at fair value   7,931    7,829 
Other current assets   617    1,046 
Total current assets   16,484    17,418 
           
Restricted cash   -    51 
Property and equipment, net   23    609 
Operating lease right-of-use assets   551    599 
Goodwill   1,984    2,206 
Intangible assets, net   717    937 
Deferred tax assets, net   3,440    3,440 
Assets held for sale   2,538    2,821 
Other assets   2,314    2,339 
Total assets  $28,051   $30,420 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
CURRENT LIABILITIES          
Accounts payable and accrued expenses  $3,280   $3,224 
Lease liabilities, current portion   393    307 
Advance from buyer   -    720 
Purchase consideration payable, current portion   247    257 
Note payable   -    1,268 
Total current liabilities   3,920    5,776 
           
Lease liabilities, net of current portion   199    341 
Deferred tax liabilities, net   221    221 
Liabilities associated with assets held for sale   855    1,095 
Total long-term liabilities   1,275    1,657 
Total liabilities   5,195    7,433 
           
STOCKHOLDERS’ EQUITY          
Preferred stock, par value $0.001; 50,000 shares authorized Series B: 13 shares issued and outstanding at both March 31, 2026 and June 30, 2025   -    - 
Common stock, $0.001 par value; 900,000 shares authorized; 42,811 and 42,818 shares issued and outstanding at March 31, 2026 and June 30, 2025, respectively   42    42 
Additional paid-in capital   15,342    15,167 
Accumulated other comprehensive loss   (16)   (420)
Retained earnings   7,488    8,198 
Total stockholders’ equity   22,856    22,987 
Total liabilities and stockholders’ equity  $28,051   $30,420 

 

 

 

 

THE MARYGOLD COMPANIES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

 

   Three Months Ended March 31,   Nine Months Ended March 31, 
   2026   2025   2026   2025 
                 
Revenue                    
Fund management - related party  $6,327   $4,093   $15,220   $13,369 
Beauty products   707    641    2,537    2,071 
Security systems   -    568    -    1,842 
Financial services   155    220    631    644 
Revenue   7,189    5,522    18,388    17,926 
                     
Cost of revenue   398    648    1,400    2,161 
                     
Gross profit   6,791    4,874    16,988    15,765 
                     
Operating expense                    
Salaries and compensation   2,346    2,483    7,149    8,262 
General and administrative expense   1,497    2,020    4,896    6,588 
Fund operations   2,296    1,140    5,272    4,118 
Marketing and advertising   694    688    1,618    2,077 
Depreciation and amortization   94    115    212    338 
Total operating expenses   6,927    6,446    19,147    21,383 
                     
Loss from continuing operations   (136)   (1,572)   (2,159)   (5,618)
                     
Other income (expense):                    
Interest and dividend income   75    75    286    1,280 
Interest expense   -    (323)   (67)   (715)
Gain on sale of Brigadier   -    -    521    - 
Other income (expense), net   287    426    434    (700)
Total other income (expense), net   362    178    1,174    (135)
                     
Income (loss) from continuing operations before income taxes   226    (1,394)   (985)   (5,753)
                     
Benefit from income taxes   43    307    184    1,273 
                     
Net income (loss) from continuing operations   269    (1,087)   (801)   (4,480)
                     
Net (loss) income from discontinued operations   (47)   75    91    136 
                     
Net income (loss)  $222   $(1,012)  $(710)  $(4,344)
                     
Weighted average shares of common stock                    
Basic   42,960    40,816    42,954    40,843 
Diluted   43,075    40,816    42,954    40,843 
                     
Net income (loss) per common share                    
Basic  $0.01   $(0.02)  $(0.02)  $(0.11)
Diluted  $0.01   $(0.02)  $(0.02)  $(0.11)