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 | ) |
