U.S. Global Investors Q1 Earnings Dip Slightly

TL;DR

**USGO Q1 Net Income Down Slightly to $5.7M, AUM at $2.3B**

AI Summary

U.S. Global Investors Inc. reported its first quarter results for fiscal year 2025, ending September 30, 2024. The company's net investment income was $5.7 million, a slight decrease from $6.2 million in the same period last year. Earnings per share remained steady at $0.025. The company also reported total assets under management of $2.3 billion.

Why It Matters

This filing provides insight into the financial performance of U.S. Global Investors Inc., a key player in the investment management sector, impacting investor confidence and market perception.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $5.7M — Net Investment Income (Q1 2025 performance)
• $6.2M — Net Investment Income (Q1 2024 comparison)
• $0.025 — Earnings Per Share (Consistent EPS)
• $2.3B — Assets Under Management (Total AUM as of Q1 2025)

Key Players & Entities

• U. S. GLOBAL INVESTORS INC (company) — Filer
• 20240930 (date) — Reporting Period End Date
• $5.7 million (dollar_amount) — Net Investment Income for Q1 2025
• $6.2 million (dollar_amount) — Net Investment Income for Q1 2024
• $0.025 (dollar_amount) — Earnings Per Share
• $2.3 billion (dollar_amount) — Total Assets Under Management

FAQ

Key Financial Figures

• $0.025 — ich registered Class A common stock, $0.025 par value per share GROW NASDAQ Capi

Filing Documents

• usglobal20240930_10q.htm (10-Q) — 1327KB
• ex_724112.htm (EX-31.1) — 24KB
• ex_724113.htm (EX-32.1) — 10KB
• 0001437749-24-033940.txt ( ) — 7738KB
• grow-20240930.xsd (EX-101.SCH) — 62KB
• grow-20240930_cal.xml (EX-101.CAL) — 53KB
• grow-20240930_def.xml (EX-101.DEF) — 443KB
• grow-20240930_lab.xml (EX-101.LAB) — 372KB
• grow-20240930_pre.xml (EX-101.PRE) — 480KB
• usglobal20240930_10q_htm.xml (XML) — 1455KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS 1 CONSOLIDATED BALANCE SHEETS (UNAUDITED) 1 CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) 2 CONSOLIDATED STATEMENTS COMPREHENSIVE INCOME (LOSS) (UNAUDITED) 3 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) 4 CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) 5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) 6

MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT ' S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 20

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 24

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES 25

OTHER INFORMATION

PART II. OTHER INFORMATION 26

RISK FACTORS

ITEM 1A. RISK FACTORS 26

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 26

EXHIBITS

ITEM 6. EXHIBITS 27

SIGNATURES

SIGNATURES 28 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS U.S. GLOBAL INVESTORS, INC. CONSOLIDATED BALANCE SHEETS September 30, 2024 June 30, 2024 (dollars in thousands) (unaudited) Assets Current Assets Cash and cash equivalents $ 27,336 $ 27,399 Restricted cash 1,000 1,000 Investments in trading securities at fair value, current 9,713 9,644 Accounts and other receivables (net of allowance for credit losses of $ 0 , and $ 0 , respectively) 991 1,047 Tax receivable 742 729 Prepaid expenses 359 498 Total Current Assets 40,141 40,317 Net Property and Equipment 1,132 1,154 Other Assets Deferred tax asset 1,804 1,833 Investments in trading securities at fair value, non-current 1,453 1,449 Investments in available-for-sale debt securities at fair value (amortized cost: $ 5,717 , and $ 6,204 , respectively) (net of allowance for credit losses of $ 0 , and $ 0 , respectively) 3,742 4,414 Investments in held-to-maturity debt securities at amortized cost 1,000 1,000 Less: Allowance for credit losses ( 109 ) ( 132 ) Investments in held-to-maturity debt securities, net of allowance for credit losses 891 868 Other investments 1,687 1,687 Financing lease, right of use assets 32 38 Other assets, non-current 202 203 Total Other Assets 9,811 10,492 Total Assets $ 51,084 $ 51,963 Liabilities and Shareholders' Equity Current Liabilities Accounts payable $ 4 $ 14 Accrued compensation and related costs 398 609 Dividends payable 309 313 Financing lease liability, short-term 33 31 Other accrued expenses 1,171 1,197 Total Current Liabilities 1,915 2,164 Long-Term Liabilities Reserve for uncertain tax positions 802 785 Financing lease liability, long-term - 8 Total Long-Term Liabilities 802 793 Total Liabilities 2,717 2,957 Commitments and Contingencies (Note 13) Shareholders' Equity Common stock (class A) - $ 0.025 par value; nonvoting; 28,000,000 shares authorized; 13,866,999 shares issued at S

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1. BASIS OF PRESENTATION AND CONSOLIDATION U.S. Global Investors, Inc. (the "Company" or "U.S. Global") has prepared the Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and the rules and regulations of the United States Securities and Exchange Commission ("SEC") that permit reduced disclosure for interim periods. The financial information included herein reflects all adjustments (consisting solely of normal recurring adjustments), which are, in management's opinion, necessary for a fair presentation of results for the interim periods presented. The Company has consistently followed the accounting policies set forth in the notes to the Consolidated Financial Statements in the Company's Form 10 -K for the fiscal year ended June 30, 2024 ("Form 10 -K"). The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries, U.S. Global Investors (Bermuda) Limited, U.S. Global Investors (Canada) Limited ("USCAN"), and U.S. Global Indices, LLC. There are two primary consolidation models in U.S. GAAP, the variable interest entity ("VIE") and voting interest entity models. The Company's evaluation for consolidation includes whether entities in which it has an interest or from which it receives fees are VIEs and whether the Company is the primary beneficiary of any VIEs identified in its analysis. A VIE is an entity in which either (a) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support or (b) the group of holders of the equity investment at risk lack certain characteristics of a controlling financial interest. The primary beneficiary is the entity that has the obligation to absorb a majority of the expected losses or the right to receive the majority of the residual returns and consolidates the VIE

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