U.S. Global Investors Reports $3.1 Million in Net Income for Fiscal Year 2026
U.S. Global Investors returned to profitability on higher revenue and AUM while boosting shareholder returns through buybacks, dividends and strong liquidity.
Rhea-AI Summary
U.S. Global Investors (GROW) reported net income of approximately $3.1 million, or $0.24 per share, for the fiscal year ended June 30, 2026, versus a net loss of $334,000, or $(0.03) per share, a year earlier.
Total operating revenue was $10.3 million, up 21% from fiscal 2025, while the operating loss narrowed to $603,000 from $3.0 million. Net investment income rose to $4.1 million from $2.4 million and included a non-cash gain of about $3.2 million on certain equity securities. Average assets under management were $1.5 billion, with period-end AUM up 26% to $1.7 billion.
Advisory fees from U.S. Global Investors Funds increased 128% to $3.8 million, driven by gold and natural resources funds, while ETF advisory fees declined to $6.2 million from $6.6 million. The WAR ETF’s assets grew to $41.3 million from $6.1 million. The company repurchased 733,848 shares for roughly $2.0 million, maintained a monthly dividend of $0.0075 per share, reported shareholder yield of 7.9%, ended with $24.3 million in cash and cash equivalents, and had no borrowings on its $1.0 million credit facility.
Positive
- Net income $3.055 million vs. $(334,000) prior year, or $0.24 vs. $(0.03) per share
- Operating revenue $10.251 million, a 21% increase year over year
- Operating loss improved to $603,000 from $2.986 million in fiscal 2025
- Net investment income $4.1 million vs. $2.4 million, including a $3.2 million non-cash gain
- Average AUM $1.5 billion; period-end AUM up 26% to $1.7 billion
- Advisory fees from U.S. Global Investors Funds $3.8 million, up about 128% year over year
- WAR ETF assets grew to $41.3 million from $6.1 million at June 30, 2025
- Share repurchases of 733,848 shares for approximately $2.0 million; $4.1 million remaining under 2026 authorization
- Shareholder yield 7.9% for the 12 months ended June 30, 2026
- Cash and cash equivalents $24.3 million; no borrowings on a $1.0 million credit facility
Negative
- Operating loss $603,000 in fiscal 2026, though improved from the prior year
- ETF advisory fees $6.2 million, down from $6.6 million due to lower average net assets in JETS
- Fiscal 2026 net investment income includes a $3.2 million non-cash gain, elevating earnings with non-operating items
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 28 | Webcast scheduling | Neutral | -0.6% | Company scheduled a webcast to discuss fiscal year 2026 results. |
| Jun 18 | Dividend continuation | Positive | +2.9% | Board continued the $0.0075 monthly dividend through September 2026. |
| Jun 05 | EPS restatement | Negative | +2.6% | Company restated quarterly and nine-month EPS because of a share-count omission. |
| Jun 01 | EPS restatement intent | Negative | +0.0% | Company disclosed plans to restate EPS while underlying financial results remained unchanged. |
| May 13 | Quarterly earnings | Positive | +1.6% | Third-quarter profit, revenue growth, AUM expansion, dividend, and buyback authorization were reported. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Historical earnings and dividend announcements were generally followed by gains, while EPS-restatement news also produced positive or flat reactions.
Key Terms
assets under management financial
tracking error technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN ANTONIO, Sept. 03, 2026 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm1 with deep expertise in global markets and specialized sectors ranging from gold and natural resources to airlines, aerospace and defense, today announced net income of
The improvement in net income reflects higher operating revenues and higher net investment income, partially offset by higher income tax expense. Net investment income was
Average assets under management (AUM) for the fiscal year ended June 30, 2026, were
The shareholder yield as of June 30, 2026, was
Gold and Natural Resources Drove Revenue Growth
Advisory fees from U.S. Global Investors Funds totaled
Central bank buying remained an important source of gold demand during the fiscal year. According to the World Gold Council (WGC), central banks added a net 289 tonnes in the second quarter of 2026, roughly five times the 57 tonnes added in the first quarter and a record for a second quarter, though first-half buying was still the slowest since 2022.3 In the WGC’s most recent survey of central banks,
“Gold set a record near
Advisory fees from ETF clients totaled
WAR ETF Builds Strong Momentum, Growing Assets Nearly Sevenfold
The U.S. Global Technology and Aerospace & Defense ETF (NYSE: WAR), launched in December 2024, ended the fiscal year with
“Defense used to mean tanks, ships and fighter jets,” says Mr. Holmes. “Today it also means chips, software and code. A drone costing a few thousand dollars can destroy a vehicle worth millions, and that changes what governments buy and who they buy it from. We built WAR to own both sides of that shift, the traditional hardware and the technology now driving it.”
Share Repurchases and Monthly Dividends
During the fiscal year ended June 30, 2026, the Company repurchased a total of 733,848 of its own shares at a cost of approximately
As of June 30, 2026, the Board of Directors has authorized a monthly dividend of
Liquidity and Capital Resources
As of June 30, 2026, the Company had net working capital of approximately
Tune In to the Earnings Webcast
The Company has scheduled a webcast for 7:30 a.m. Central time on Friday, September 4, 2026, to discuss the Company’s key financial results for the fiscal year. Frank Holmes will be accompanied on the webcast by Lisa Callicotte, chief financial officer, and Holly Schoenfeldt, marketing and public relations manager. Click here to register for the earnings webcast or visit www.usfunds.com for more information.
Selected Financial Data (unaudited): (dollars in thousands, except per share data)
| 12 months ended | ||||||
| 6/30/2026 | 6/30/2025 | |||||
| Operating Revenues | $ | 10,251 | $ | 8,452 | ||
| Operating Expenses | 10,854 | 11,438 | ||||
| Operating Income (Loss) | (603 | ) | (2,986 | ) | ||
| Total Other Income | 4,487 | 2,724 | ||||
| Income (Loss) Before Income Taxes | 3,884 | (262 | ) | |||
| Income Tax Expense | 829 | 72 | ||||
| Net Income (Loss) | $ | 3,055 | $ | (334 | ) | |
| Net Income (Loss) Per Share (Basic and Diluted) | $ | 0.24 | $ | (0.03 | ) | |
| Avg. Common Shares Outstanding (Basic) | 12,674,691 | 13,343,506 | ||||
| Avg. Common Shares Outstanding (Diluted) | 12,686,445 | 13,344,627 | ||||
| Avg. Assets Under Management (Billions) | $ | 1.5 | $ | 1.4 | ||
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.
Forward-Looking Statements and Disclosure
This news release and other statements by U.S. Global Investors may include certain “forward-looking statements,” including statements relating to revenues, expenses and expectations regarding market conditions. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “opportunity,” “seeks,” “anticipates” or other comparable words. Such statements involve certain risks and uncertainties and should be read with corporate filings and other important information on the Company’s website, www.usfunds.com, or the Securities and Exchange Commission’s website at www.sec.gov.
These filings, such as the Company’s annual report and Form 10-Q, should be read in conjunction with the other cautionary statements that are included in this release. Future events could differ materially from those anticipated in such statements and there can be no assurance that such statements will prove accurate and actual results may vary. The Company undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.
Please consider carefully a fund’s investment objectives, risks, charges and expenses. For this and other important information, obtain a statutory and summary prospectus for JETS here, WAR here. Read it carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns. Because the funds concentrate their investments in specific industries, the funds may be subject to greater risks and fluctuations than a portfolio representing a broader range of industries. The funds are non-diversified, meaning they may concentrate more of their assets in a smaller number of issuers than diversified funds.
The funds invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. The funds may invest in the securities of smaller-capitalization companies, which may be more volatile than funds that invest in larger, more established companies.
The performance of the funds may diverge from that of the index. Because the funds may employ a representative sampling strategy and may also invest in securities that are not included in the index, the funds may experience tracking error to a greater extent than funds that seek to replicate an index. JETS is not actively managed and may be affected by a general decline in market segments related to their respective indexes. WAR is actively managed and does not seek to track an index.
Airline Companies may be adversely affected by a downturn in economic conditions that can result in decreased demand for air travel and may also be significantly affected by changes in fuel prices, labor relations and insurance costs. Gold, precious metals, and precious minerals funds may be susceptible to adverse economic, political or regulatory developments due to concentrating in a single theme. The prices of gold, precious metals, and precious minerals are subject to substantial price fluctuations over short periods of time and may be affected by unpredicted international monetary and political policies. We suggest investing no more than
Foreign and emerging market investing involves special risks such as currency fluctuation and less public disclosure, as well as economic and political risk. By investing in a specific geographic region, such as China and/or Taiwan, a regional ETFs returns and share price may be more volatile than those of a less concentrated portfolio.
Distributed by Quasar Distributors, LLC. U.S. Global Investors is the investment adviser to JETS and WAR.
1 Registration does not imply a certain level of skill or training.
2 The Company calculates shareholder yield by adding the percentage of change in shares outstanding, the dividend yield and any debt reduction for the 12 months ended June 30, 2026.
3 World Gold Council. “Gold Demand Trends: Q2 2026,” by Louise Street and Krishan Gopaul, July 30, 2026, https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2026.
4 World Gold Council. “Central Bank Gold Reserves Survey 2026,” June 16, 2026, https://www.gold.org/goldhub/research/central-bank-gold-reserves-survey-2026.
Contact:
Holly Schoenfeldt
Director of Marketing
210.308.1268
hschoenfeldt@usfunds.com
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/ad93804a-27a2-43d3-b426-61404bb6973c
https://www.globenewswire.com/NewsRoom/AttachmentNg/be3691ff-76f1-4b6c-b078-a70dd0fb13e8
