U.S. Global Investors swings to $3.1M profit in fiscal 2026 as gold funds surge

U.S. Global Investors reported net income of $3.1 million, or $0.24 per share, for the fiscal year ended June 30, 2026, reversing a net loss of $334,000, or $(0.03) per share, a year earlier. Total operating revenue rose 21% to $10.3 million for the year, the investment advisory firm said. The improvement reflected higher operating revenues and higher net investment income, partially offset by higher income tax expense. Net investment income totaled $4.1 million, up from $2.4 million a year earlier, and included a non-cash net gain of approximately $3.2 million on equity securities carried under the measurement alternative. The company recorded an operating loss of $603,000, narrower than the $3 million operating loss posted in fiscal 2025. Average assets under management for the year were $1.5 billion, up 8% from $1.4 billion. Total AUM at period-end reached $1.7 billion, up 26% from $1.3 billion a year earlier. Shareholder yield stood at 7.9% as of June 30, 2026, above the five-year and 10-year US Treasury yields on the same trading day. Advisory fees from U.S. Global Investors Funds totaled $3.8 million, up about $2.2 million, or 128%, from the prior year. The company attributed the increase to higher average AUM in funds focused on gold and natural resources, along with the elimination of a performance fee adjustment that had reduced advisory fees in fiscal 2025.