Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 27

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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-By-Step
    Financial Planners Limited, a company incorporated and registered in England and Wales, whose registered office is in Staffordshire,
    England.

20

Recent
Developments

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

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

Summary
Results of Operations

    Three
    Months Ended March 31,  
    Percentage 
  
    (in thousands, except percentages) 
    2025  
    2024  
    Change 
  
    Revenue 
    $7,027  
    $7,880  
     -11%
  
    Cost of revenue 
     1,755  
     2,323  
     -24%
  
    Gross profit 
     5,272  
     5,557  
     -5%
  
    Operating expenses 
     6,776  
     7,028  
     -4%
  
    Loss from operations 
     (1,504) 
     (1,471) 
     2%
  
    Other income, net 
     185  
     587  
     -68%
  
    Loss before income taxes 
     (1,319) 
     (884) 
     49%
  
    Benefit
    from income taxes 
     307  
     355  
     -14%
  
    Net loss 
    $(1,012) 
    $(529) 
     91%

Revenue
decreased by $0.9 million or 11% for the quarter ended March 31, 2025 as a result of a decrease in revenue from our U.S. fund
management segment of $0.3 million (or 7%), a decrease in revenue from our food products segment of $0.3 million (or 18%), and a
decrease in our beauty products segment of $0.2 million (or 25%). The decrease in U.S. fund management revenue was driven by a
decrease in average Assets Under Management (“AUM”). 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. The decrease