Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 33

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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    Food products 
     1,688  
     1,920  
     -12%
  
    Beauty products 
     832  
     842  
     -1%
  
    Security systems 
     585  
     570  
     3%
  
    Financial services 
     214  
     128  
     67%
  
    Total revenue 
    $8,004  
    $8,457  
     -5%

    Operating Income (Loss) 

    Fund management - related party 
    $832  
    $1,241  
     -33%
  
    Food products 
     58  
     205  
     -72%
  
    Beauty products 
     (61) 
     (117) 
     -48%
  
    Security systems 
     58  
     72  
     -19%
  
    Financial services 
     (1,703) 
     (1,480) 
     15%
  
    Corporate headquarters 
     (1,010) 
     (918) 
     10%
  
    Total operating loss 
    $(1,826) 
    $(997) 
     83%

Reportable
Segments

Quarter
Ended December 31, 2024 Compared with Quarter Ended December 31, 2023

U.S.
Fund Management – Related Party - USCF Investments

USCF
Investments earns monthly management and advisory fees based on an investment management or advisory agreement with each Fund. The
management fees are determined on the basis of a contractual basis point management fee multiplied by the average AUM over the given
period. Average AUM for the quarter ended December 31, 2024 was $3.1 billion compared to $3.5 billion for the quarter ended December
31, 2023. As a result of lower average AUM for the current quarter when compared to the quarter ended December 31, 2023, revenue
decreased by $0.3 million or 6%. The decrease in average AUM in the quarter ended December 31, 2024 was due to commodity price
fluctuations and the high-interest rate environment, along with the impact of geopolitical and economic uncertainty.

Operating
income decreased by $0.4 million or 33% driven by the decrease in average AUM as described above and a net increase