Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 31

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 1
Chunk 31
---
 subsidiaries:

    ■
    Marygold
    & Co. Limited f/k/a Tiger Financial & Asset Management Limited, a company incorporated and registered in England and Wales,
    whose registered office is in Northampton, England; and

    ■
    Step-By-Step
    Financial Planners Limited, a company incorporated and registered in England and Wales, whose registered office is in Staffordshire,
    England.

21

Recent
Developments

Refer
to “Liquidity and Capital Resources – Recent Note Financing” and “—Recent Equity
Financing,” below.

Summary
Results of Operations

    Three Months Ended December 31,  
    Percentage 
  
    (in thousands, except percentages) 
    2024  
    2023  
    Change 
  
    Revenue 
    $8,004  
    $8,457  
     -5%
  
    Cost of revenue 
     2,076  
     2,091  
     -1%
  
    Gross profit 
     5,928  
     6,366  
     -7%
  
    Operating expenses 
     7,754  
     7,363  
     5%
  
    Loss from operations 
     (1,826) 
     (997) 
     83%
  
    Other expense, net 
     (403) 
     (368) 
     10%
  
    Loss before income taxes 
     (2,229) 
     (1,365) 
     63%
  
    Benefit from income taxes 
     (482) 
     182  
     165%
  
    Net loss 
    $(1,747) 
    $(1,183) 
     48%

Three
Months Ended December 31, 2024 Compared with Three Months Ended December 31, 2023

Revenue
decreased by $0.5 million or 5% for the quarter ended December 31, 2024 as a result of lower revenue in our fund management segment
of $0.3 million and in our food products segment of $0.2 million. The decrease in fund management revenue was driven by a decrease
in average Assets Under Management (“AUM”). Average AUM for the quarter ended December 31, 2024 was $3.1 billion
compared to $3.5 billion for the quarter ended December