Company: MGLD
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001493152-25-005002
Chunk: 102

Company: Marygold Companies, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 2
Chunk 102
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 payment of the dividends.

Benefit
from income taxes increased by $0.3 million or 165% driven by the increase in the loss before income taxes for the reasons explained above.

Net
loss increased by $0.6 million or 48% and was driven by decreased profits from our fund management business due to lower average AUM
and increased losses from our financial services business as we continue to develop our Fintech app.

22

SEGMENT
RESULTS OF OPERATIONS

    Three Months Ended December 31,  
    Percentage 
  
    (in thousands, except percentages) 
    2024  
    2023  
    Change 
  
    Revenue 

    Fund management - related party 
    $4,685  
    $4,997  
     -6%
  
    Food products 
     1,688  
     1,920  
     -12%
  
    Beauty products 
     832  
     842  
     -1%
  
    Security systems 
     585  
     570  
     3%
  
    Financial services 
     214  
     128  
     67%
  
    Total revenue 
    $8,004  
    $8,457  
     -5%

    Operating Income (Loss) 

    Fund management - related party 
    $832  
    $1,241  
     -33%
  
    Food products 
     58  
     205  
     -72%
  
    Beauty products 
     (61) 
     (117) 
     -48%
  
    Security systems 
     58  
     72  
     -19%
  
    Financial services 
     (1,703) 
     (1,480) 
     15%
  
    Corporate headquarters 
     (1,010) 
     (918) 
     10%
  
    Total operating loss 
    $(1,826) 
    $(997) 
     83%

Reportable
Segments

Quarter
Ended December 31, 2024 Compared with Quarter Ended December 31, 2023

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