The Q4 loss widened sharply due to non-cash write-offs, but the core USCF fund management business continues to benefit from elevated commodity AUM. Watch for completion of New Zealand divestitures and whether the company can return to profitability in fiscal 2027 as management guided.
Price Chart
Executive Summary
Marygold Companies reported fiscal 2026 full-year revenue of $25.3M (+8% YoY) and a narrowed net loss of $4.4M (-$0.10/share vs -$0.14 prior year). Q4 revenue rose 26% to $6.9M, but the net loss widened to $3.7M (-$0.09/share) from -$1.5M (-$0.04) a year ago, driven by $2.7M in intangible asset write-offs and a $0.9M investment impairment. The core USCF fund management business grew 23% for the year, but restructuring charges and discontinued operations cloud the bottom line.
Key Financial Metrics
Key Facts
- Fiscal 2026 revenue grew 8% to $25.3M from $23.4M; Q4 revenue up 26% to $6.9M from $5.5M
- Full-year net loss narrowed to $4.4M (-$0.10/share) from $5.8M (-$0.14); Q4 net loss widened to $3.7M (-$0.09) from $1.5M (-$0.04)
- Q4 results include $2.7M write-off of intangible assets from UK fintech and $0.9M impairment of an illiquid investment
- USCF Investments revenue grew 23% for the year; average AUM rose 41% to $4.1B
- Goodwill and intangible assets written down to zero at year-end; stockholders' equity fell to $19.2M from $23.0M
- New Zealand subsidiaries classified as discontinued operations; fintech operations paused in US and UK
Financial Impact
Q4 net loss of $3.7M vs $1.5M loss a year ago, driven by $3.6M in impairment/write-off charges; full-year net loss of $4.4M
Risk Factors
- Continued losses and asset write-downs erode equity base; stockholders' equity declined to $19.2M from $23.0M
- Dependence on geopolitical-driven commodity AUM for USCF revenue growth is cyclical and may reverse
- Discontinued operations and paused fintech initiatives create execution risk around the restructuring plan
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001493152-26-043498 |
| Document: form8-k.htm | 0001493152-26-043498 |
| Document: 0001493152-26-043498-index-headers.html | 0001493152-26-043498 |
| Document: 0001493152-26-043498-index.html | 0001493152-26-043498 |
| Document: 0001493152-26-043498.txt | 0001493152-26-043498 |
| 8-K Data (Synthetic) | 0001493152-26-043498 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 30, 2026 26d ago | 8-K | $1.95 $2.02 | ▲ +3.59% | ▲ +3.41% | $1.97 (+1.03%) |
Sep 28, 2026 28d ago | 8-K | $1.97 $1.98 | ▲ +0.51% | ▲ +0.69% | $1.97 (+0.00%) |
Sep 24, 2026 4w ago | DEFA14A | $1.93 $1.97 | ▲ +2.07% | ▲ +2.82% | $1.97 (+2.07%) |
Sep 24, 2026 4w ago | 8-K | $1.00 $1.93 | ▲ +93.00% | ▲ +92.46% | $1.97 (+97.00%) |
Sep 23, 2026 4w ago | DEF 14A | $0.9600 $1.00 | ▲ +4.17% | ▲ +4.25% | $1.97 (+105.21%) |
Sep 21, 2026 5w ago | 8-K | $0.9850 $0.9600 | ▲ +2.54% | ▲ +2.52% | $1.97 (−100.00%) |
May 12, 2026 23w ago | 8-K | $1.05 $1.09 | ▲ +3.81% | ▲ +3.23% | $1.97 (+87.62%) |
US Market Status
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