Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 29

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 (Loss) Income 

    Fund management - related party 
    $828  
    $827  
     -%
  
    Food products 
     68  
     (6) 
     -1,233%
  
    Beauty products 
     (127) 
     (191) 
     -34%
  
    Security systems 
     90  
     117  
     -23%
  
    Financial services 
     (1,539) 
     (1,419) 
     8%
  
    Corporate headquarters 
     (824) 
     (799) 
     3%
  
    Total
    operating loss 
    $(1,504) 
    $(1,471) 
     2%

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 March 31, 2025 was $2.6 billion compared to $3.0 billion for the quarter ended March 31,
2024. As a result of lower average AUM for the current quarter when compared to the quarter ended March 31, 2024, revenue decreased
by $0.3 million or 7%. The decrease in average AUM in the quarter ended March 31, 2025 was due to commodity price fluctuations, along with the impact of geopolitical and economic uncertainty.

Operating
income remained flat at $0.8 million for the quarters ended March 31, 2025 and 2024 driven by variable operating expenses that are
tied to lower average AUM for the quarter as well as lower license fees and general and administrative expenses.

Food
Products - Gourmet Foods

Gourmet
Foods has two distinct operating divisions: 1) a commercial-scale bakery producing iconic Kiwi pies and sausage rolls and 2) a
digital printing business (Printstock Products Limited) which prints specialty food wrappers. Total food products revenue decreased
by $0.3 million or 18% for the quarter ended March 31, 2025 as compared to 2024, the result of decreases at both our printing
business and our bakery business. The decrease of $0.1 million or 16% in