U.S. Global Investors Reports Net Loss of $153,000 for Nine Months Ended March 31, 2025

U.S. Global Investors, Inc. reported a net loss of $153,000, or $(0.01) per share, for the nine months ended March 31, 2025, a significant decline from a net income of $1.0 million, or $0.07 per share, during the same period in the previous year. Total operating revenues decreased by 24% to $6.5 million, primarily due to a $2.1 million drop in advisory fees, which were impacted by lower average assets under management in the company's exchange-traded funds (ETFs). The company’s average assets under management fell to approximately $1.5 billion from $1.9 billion year-over-year, reflecting a challenging market environment.

In the most recent quarter, U.S. Global Investors experienced a similar trend, with a net loss of $382,000 for the three months ended March 31, 2025, compared to a loss of $35,000 in the prior year. Operating revenues for this quarter also decreased by 18.9% to $2.1 million, driven by a decline in advisory fees, particularly from ETF management. The company reported a decrease in base management fees, which fell by $526,000, largely due to reduced average assets under management for its ETFs.

Despite the decline in revenues, U.S. Global Investors saw an increase in net investment income, which rose to $1.8 million for the nine months ended March 31, 2025, compared to $1.4 million in the prior year. This increase was attributed to a reduction in realized and unrealized losses on equity securities, which totaled $149,000 in the current period, a significant improvement from $1.1 million in losses recorded in the previous year. The company’s investment strategy continues to focus on managing its cash position effectively, with investments carried at fair value totaling approximately $13.3 million as of March 31, 2025.

Operationally, U.S. Global Investors has maintained a strong liquidity position, with cash and cash equivalents of $26.3 million and a current ratio of 21.7 to 1. However, the company’s total assets decreased to $48.8 million from $52.0 million at the end of the previous fiscal year. The company has also continued its share repurchase program, buying back $1.6 million worth of its common stock during the nine months ended March 31, 2025. Looking ahead, U.S. Global Investors remains cautious about market conditions and the potential impact on its revenues and assets under management, while continuing to evaluate strategic opportunities to enhance its investment offerings.