Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 108

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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     143  
     33%
  
    Financial services 
     (3,286) 
     (3,004) 
     9%
  
    Corporate headquarters 
     (2,510) 
     (1,927) 
     30%
  
    Total operating loss 
    $(3,996) 
    $(2,034) 
     96%

Reportable
Segments

Six
months Ended December 31, 2024 Compared with Six months Ended December 31, 2023

U.S.
Fund Management – Related Party - USCF Investments

Average AUM for the six months ended
December 31, 2024 was $3.1 billion compared to $3.5 billion for the six months ended December 31, 2023. As a result of lower average
AUM for the current six months when compared to the six months ended December 31, 2023, revenue decreased by $0.8 million or 8%. The
decrease in average AUM in the six months ended December 31, 2024 was due to commodity price fluctuations and the high-interest rate
environment, along with the impact of geopolitical and economic uncertainty.

Operating
income decreased by $1.2 million or 40% driven by the decrease in average AUM as described above and increased fund operations
expenses of $0.5 million or 21% as a result of increased sub-advisory and license fees, fund accounting and administration costs
connected to new funds.

Food
Products - Gourmet Foods

Total food products revenue decreased
by $0.1 million or 4% for the six months ended December 31, 2024 as compared to 2023, which was the net result of an increase at our
printing business of $0.1 million and a decrease at our bakery business of $0.3 million. The increase of $0.1 million or 9% in our printing
business was due to the timing of job completion and invoicing as opposed to changes in the business climate. The decrease of $0.3 million
or 12% at our bakery business was due to a temporary cancellation of certain product categories sold to national grocery chains that
commenced in the current fiscal year.

Operating
income decreased by $0.2 million or 77% for the six months ended December 31, 2024 compared to the prior year period which was driven
by a non