The Marygold Companies, Inc. (TMC) released its second quarter 2025 financial results, reporting a revenue decline and net loss. The Company attributed the revenue decrease to reduced assets under management and currency fluctuations. Expenses related to the development of its fintech app were highlighted as a primary driver of the net loss. Despite the challenges, TMC remains optimistic about the future prospects of its fintech initiative.
The Marygold Companies, Inc. ('TMC', or the 'Company') (NYSE American: MGLD), a global holding firm, reported its financial results for the second fiscal quarter of 2025, ending on December 31, 2024. Revenue for the quarter reached $8.0 million, down from $8.5 million in the same period last year. The Company recorded a net loss of $1.7 million, or $0.04 per share, compared to a net loss of $1.2 million, or $0.03 per share, in the second quarter of fiscal 2024.
For the six months ending December 31, 2024, total revenue amounted to $15.9 million, with a net loss of $3.3 million, or $0.08 per share. This compared to revenue of $16.7 million and a net loss of $1.7 million, or $0.04 per share, for the same period in the previous year.The decrease in revenue over both comparable periods was primarily attributed to a reduction in average assets under management ('AUM') at TMC's largest subsidiary, USCF Investments, which dropped to $3.1 billion from $3.5 billion a year ago. AUM fluctuations directly influence management fees earned and are typically affected by global commodity pricing trends. Additionally, a slight strengthening of the U.S. dollar negatively impacted currency translation values in the Company's foreign subsidiaries.Despite the revenue decline, the performance of TMC's core operating subsidiaries remained within expectations. The net loss primarily stemmed from continued expenses incurred in developing and launching the mobile banking fintech app through its Marygold Co. subsidiaries in the U.S. and the U.K. Cash and cash equivalents increased slightly to $5.7 million at December 31, 2024, from $5.5 million at June 30, 2024. Total stockholders' equity decreased to $23.4 million at December 31, 2024, from $26.6 million at fiscal year-end, primarily reflecting the net loss incurred during the six months ended December 31, 2024. David Neibert, TMC's Chief Operations Officer, stated that the Company had budgeted for continued losses in the quarter, largely due to cash expenditures by the Marygold fintech subsidiary. To address future development and rollout needs for the fintech app, TMC entered into a $4 million note in the first quarter and finalized a prospectus supplement for its Form S-3 shelf registration in anticipation of a $2.3 million equity raise completed after the second quarter's close. These actions contributed to the second quarter's expenses and net loss. Neibert expressed optimism that expenses within the Marygold Co. subsidiary would significantly decrease in the second half of the fiscal year, following the successful completion of the proof-of-concept phase. Nicholas Gerber, TMC's Chief Executive Officer, highlighted that the Company had invested nearly $20 million in the 'Marygold Project,' encompassing Marygold Co. and its counterpart, Marygold Co. (UK) Limited. These costs were viewed as investments in TMC's long-term future. Gerber stated that the Company was poised to initiate the initial rollout of the mobile app in the U.K. shortly and strategizing its marketing approach for the U.S. app. He acknowledged that shareholders had endured a challenging period of losses while the Company refocused its resources in the fintech sector, but expressed confidence that a turning point was near and tangible results would soon emerge
FINTECH INVESTMENTS MOBILE BANKING MARYGOLD COMPANIES FINANCIAL RESULTS REVENUE NET LOSS
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