Company: MGLD
Filing Date: 2025-09-19
Form Type: 10-K
Source: 0001493152-25-014286
Chunk: 473

Company: Marygold Companies, Inc.
Filing Date: 2025-09-19
Form: 10-K
Item: Item 3
Chunk 473
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-10%
  
    Security systems 
     2,471  
     2,655  
     -7%
  
    Financial services 
     854  
     649  
     32%
  
    Total revenue 
    $30,154  
    $32,836  
     -8%

    Operating Income (Loss) 

    Fund management - related party 
    $3,274  
    $4,773  
     -31%
  
    Food products 
     145  
     321  
     -55%
  
    Beauty products 
     (395) 
     (2,138) 
     -82%
  
    Security systems 
     250  
     325  
     -23%
  
    Financial services 
     (5,621) 
     (5,943) 
     -5%
  
    Corporate headquarters 
     (4,343) 
     (3,594) 
     21%
  
    Total operating loss 
    $(6,690) 
    $(6,256) 
     7%

Reportable
Segments

Fiscal
Year 2025 Compared with Fiscal Year 2024

U.S.
Fund Management - USCF Investments

Revenue
decreased by $1.8 million or 10% driven by reduced average Assets Under Management (“AUM”) in our fund management
business. Average AUM for fiscal 2025 was $2.9 billion compared to $3.3 billion for fiscal 2024, a decrease of $0.4 billion or
12%. The decrease in average AUM in fiscal 2025 was due to commodity price fluctuations, energy demand as well as geopolitical and
economic uncertainty.

Operating
income decreased by $1.5 million or 31% driven by the decrease in average AUM as described above and partially offset by decreased
operating expenses of $0.3 million or 2% as a result of lower license fees, and variable fund accounting and administration costs due
to lower AUM for funds overall. 

Food
Products - Gourmet Foods

Revenue
decreased from $7.3 million in fiscal 2024 to $6.7 million in fiscal 2025 which was a decrease of $0.6 million or 8%. The decrease
in revenue was in our bakery business and was due to a temporary cancellation of certain