Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 98

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 98
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 an operating loss of $1.3 million as compared with an operating loss of $1.4 million for the quarter
ended March 31, 2024. As a result of our decision to pause the offering and operating the
app in the US, the losses and negative cash flows from Marygold US are expected to be significantly reduced for the remainder of this
fiscal year.

Marygold
UK is a U.K. holding company which operates through its two wholly-owned subsidiaries Marygold & Co. Limited f/k/a Tiger Financial
and Asset Management Limited and Step By Step Financial Planners, both of whom are registered investment advisors who earn revenues based
on the amount of AUM and from the sale of financial products, including insurance, to customers in the U.K.

Our
total U.K. Financial Services revenue, derived entirely from Marygold UK, for the quarter ended March 31, 2025, increased by $0.1
million or 70% to $0.2 million as compared to $0.1 million for the quarter ended March 31, 2024. The increase was driven by the
incremental revenue of $0.1 million from Step-By-Step, which was acquired in April 2024. Operating loss increased by $0.2 million
due to increased costs incurred in connection with the adoption and implementation of the Marygold mobile Fintech app for the U.K.
market. The consolidated operating loss for financial services was $1.5 million for the current quarter as compared to a loss of
$1.4 million for the quarter ended March 31, 2024.

23

Corporate
Headquarters

The
Marygold Companies as a holding company has no significant revenue, however, it does have operating expenses such as, but not limited
to, salaries, audit and legal fees, NYSE American listing fees and expenses, expenses related to compliance with its SEC periodic reporting
requirements, insurance, interest expense, and investor relations which produce operating losses. Operating loss for the corporate headquarters
was relatively flat at $0.8 million for the quarter ended March 31, 2025 as compared to same period in 2024.

Nine Months Ended March 31, 2025 Compared with
Nine Months Ended March 31, 2024

Summary
Results of Operations

    Nine
    Months Ended March 31,  
    Percentage 
  
    (in thousands, except percentages) 
    2025