Marygold Companies Reports Financial Results for Q1 of Fiscal 2025, Reflecting Strategic Investments in Financial Services The Marygold Companies (TMC), a diversified global holding firm, today announced its financial results for the first fiscal quarter of 2025, ending September 30, 2024. Revenue for the quarter totaled $7.9 million, a slight decrease from $8.2 million in the same period last year. The company posted a net loss of $1.6 million, or $0.04 per share, compared to a net loss of $0.5 million, or $0.01 per share, for Q1 of fiscal 2024.
TMC’s balance sheet remains strong, with cash and cash equivalents rising to $6.7 million from $5.5 million at June 30, 2024. Total assets increased to $35.9 million, up from $32.9 million at fiscal year-end, while total stockholders’ equity slightly declined to $25.5 million from $26.6 million.
The first-quarter loss was primarily driven by ongoing investments in our financial services sector, particularly in our proprietary mobile fintech app, as well as a slight dip in assets under management (AUM) at UCSF Investments,” said David Neibert, Chief Operations Officer. “We believe factors like commodity price fluctuations and a high-interest rate environment contributed to the decline in AUM, which stood at $3.1 billion for the quarter, down from $3.5 billion a year ago.
CEO Nicholas Gerber added, “We are laying the groundwork for TMC’s shift towards a stronger focus on financial services, including the upcoming launch of our mobile fintech app in the U.K. Additionally, we acquired nearly 8% of Midland Capital Holdings, which operates Midland Federal Savings and Loan in the Chicago area, expanding our footprint in financial services.”
TMC’s business units include UCSF Investments, a manager of exchange-traded products; Gourmet Foods, a commercial-scale bakery in New Zealand; Brigadier Security Systems, a Canadian security provider; and Original Sprout, a producer of vegan hair and skincare products.
