Company: MGLD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001641172-25-009260
Chunk: 35

Company: Marygold Companies, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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    %
  
    Beauty
    products

    (361
    )

    (626
    )

    -42
    %
  
    Security
    systems

    281

    260

    8
    %
  
    Financial
    services

    (4,824
    )

    (4,423
    )

    9
    %
  
    Corporate
    headquarters

    (3,334
    )

    (2,726
    )

    22
    %
  
    Total
    operating loss
     
    $
    (5,500
    )
     
    $
    (3,504
    )

    57
    %

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

Average
AUM for the nine months ended March 31, 2025 was $3.0 billion compared to $3.3 billion for the nine months ended March 31, 2024. As
a result of lower average AUM for the current nine months when compared to the nine months ended March 31, 2024, revenue decreased
by $1.1 million or 8%. The decrease in average AUM during the nine months ended March 31, 2025 was due to commodity price fluctuations, along with the impact of geopolitical and economic uncertainty.

Operating
income decreased by $1.2 million or 31% driven by the decrease in average AUM as described above and increased fund operations
expenses of $0.4 million 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 $0.5 million or 9% for the nine months ended March 31, 2025 as compared to 2024, which was the net result of a decrease at our bakery business of $0.5 million. The decrease 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 $0.1 million or 44% for the nine months ended March 31, 2025 compared to the prior year period which was driven by
a non-recurring cost of goods sold adjustment coupled with a depreciation charge taken for its solar electricity system and partially
offset by increased profits from the sale of higher margin products at our bakery business.

25

Beauty
Products – Original Sprout