U.S. Global Investors Announces Intent to Restate EPS for the March 31, 2026, Financial Statements; Underlying Financial Results Unchanged
Rhea-AI Summary
U.S. Global Investors (NASDAQ:GROW) will restate EPS for the three- and nine-month periods ended March 31, 2026, due to a clerical miscalculation in weighted average shares.
Only share counts and EPS change; net income, revenue, cash and other financial statement items remain unchanged.
Positive
- Underlying Q3 FY2026 figures unchanged, including net income, revenue and cash
- Quarter ended March 31, 2026 delivered $2.7 million net income
- Average AUM reached $1.6 billion, the highest level in nearly two years
- Repurchased about 2.7 million shares over five years, over 20% reduction
- Active capital return via monthly dividends and ongoing buybacks
Negative
- Basic and diluted EPS overstated by $0.02 for the March 31, 2026 quarter
- Basic and diluted EPS overstated by $0.01 for the nine months ended March 31, 2026
- Prior communications for the March 31, 2026 periods should no longer be relied upon
- Company must file an amended Form 10-Q/A, adding compliance workload
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 13 | Q3 2026 earnings | Positive | +1.6% | Return to profitability with higher operating revenue and AUM. |
| Sep 08 | FY 2025 results | Negative | -2.4% | Full‑year net loss and lower operating revenues and AUM. |
| May 02 | Q3 2025 webcast | Neutral | +0.0% | Scheduling of webcast to discuss quarterly financial results. |
| Feb 12 | Q2 2025 earnings | Negative | -1.2% | Quarterly net loss and year‑over‑year AUM decline despite new ETF. |
| Feb 06 | Q2 2025 webcast | Neutral | -1.2% | Announcement of webcast timing for Q2 FY2025 results. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Earnings and related updates have usually seen modest single‑digit price moves, with most reactions aligned to the tone of the news.
Over the past year, GROW’s earnings communications have tracked a transition from losses to improved profitability and AUM growth. FY2025 results showed a $334,000 net loss and lower $8.5 million operating revenue, while Q2 and Q3 FY2026 updates highlighted rising AUM, higher operating revenues, and a return to profitability. Throughout, the company maintained its $0.0075 monthly dividend and active buybacks, framing today’s EPS restatement as a presentation correction rather than an operational change.
Key Terms
diluted eps financial
form 10-q/a regulatory
assets under management (aum) financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
San Antonio, TX, June 01, 2026 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, today announced that it will restate its earnings per share (EPS) figures for the three-month and nine-month periods ended March 31, 2026, as previously reported in the Company’s Quarterly Report on Form 10-Q for the third quarter of fiscal year 2026.
Nature of the Restatement
The Company identified a miscalculation of basic and diluted weighted average shares outstanding used to determine basic and diluted EPS. Within a supporting spreadsheet, a component of shares was inadvertently omitted from the calculation, resulting in understated basic and diluted weighted average common shares and overstated basic and diluted EPS for the three- and nine-month periods ended March 31, 2026.
The miscalculation had no impact on the Company’s reported net income, total revenues, operating income, cash position or any other line item in the consolidated financial statements. Only the weighted average number of shares outstanding and the resulting per-share figures are affected.
“The miscalculation was a clerical omission in a supporting schedule, not a change in the Company’s underlying performance,” said Frank Holmes, CEO and Chief Investment Officer of U.S. Global Investors. “Because our share count moves every month as a result of our active buyback program, the weighted average share calculation is inherently dynamic. We have identified the issue and are implementing enhancements to our review procedures so that the per-share presentation of our results accurately reflects that dynamic in every reporting period.”
For the three months ended March 31, 2026, weighted average shares were understated by 702,484 shares, resulting in an overstatement of basic and diluted EPS of
For the nine months ended March 31, 2026, weighted average shares were understated by 230,743 shares, resulting in an overstatement of basic and diluted EPS of
Any previously furnished reports, press releases, earnings releases and investor presentations or other communications describing the Company’s consolidated financial statements as of and for the three and nine months ended March 31, 2026, should no longer be relied upon. The Company intends to file an amendment on Form 10-Q/A with the Securities and Exchange Commission (SEC) as promptly as practicable. Investors and shareholders are encouraged to review the amended filing once available. All other financial data previously disclosed in connection with the third quarter of fiscal year 2026 remains unchanged.
Returning Capital to Shareholders
The Company’s commitment to returning capital to shareholders through its two-pillar strategy of monthly dividends and ongoing share repurchase program is longstanding. Over the five-year period ended March 31, 2026, the Company repurchased approximately 2.7 million shares of its common stock, representing a more-than
“I want to assure our shareholders that the fundamentals of our business remain strong,” said Mr. Holmes. “Net income for the quarter ended March 31, 2026, was
About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides investment management and other services to U.S. Global Investors Funds and U.S. Global ETFs.
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This news release may include certain “forward-looking statements” including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements.
Bloomberg data for the period May 13, 2026, through May 29, 2026, shows that GROW shares traded in a range of
Attachment
Holly Schoenfeldt U.S. Global Investors, Inc. 210.308.1268 hschoenfeldt@usfunds.com