# U.S. Global Investors (USFD) Q4 2025 Financial Results Summary
**Release Date: September 8, 2025**
U.S. Global Investors, Inc., a registered investment advisory firm, has released its fiscal year 2025 financial results. The report illustrates a challenging year with significant operational shifts and various developments in investment offerings. Below is a summary of the key financial metrics and corporate activities from the report.
### Financial Highlights
– **Net Loss**: U.S. Global Investors reported a **net loss of $334,000**, or **$0.03 per share**, for the fiscal year ending June 30, 2025, contrasting with **net income of $1.3 million**, or **$0.09 per share**, in the same period the previous year.
– **Total Operating Revenues**: Revenues reached **$8.5 million**, which reflects a **23% decrease** when compared to **$10.98 million** for the fiscal year ending June 30, 2024.
– **Assets Under Management (AUM)**:
– **Average AUM**: The average assets under management for FY 2025 were **$1.4 billion**, down from **$1.9 billion** in the previous year, which represents a **26% decrease**.
– **Total AUM**: Total AUM at the end of the fiscal year was **$1.3 billion**, down from **$1.6 billion**, a decrease of approximately **19%**.
– **Operating Expenses**: Operating expenses were stable at **$11.4 million**, slightly decreased from **$11.5 million** the prior year.
– **Income (Loss) Before Income Taxes**: The company had an income loss before tax of **$262,000**, compared to an income of **$1.9 million** in the previous year.
– **Income Tax Expense**: The income tax expense for FY 2025 was **$72,000**, a decrease from **$582,000** in FY 2024.
– **Shareholder Yield**: As of June 30, 2025, the shareholder yield stood at **9.1%**, more than double that of the **10-year Treasury bond** on the same trading day.
### Strategic Initiatives
– **New ETF Listings**: U.S. Global Investors announced the strategic listing of international ETFs, including:
– The **U.S. Global Sea to Sky Cargo ETF (SEA)**, listed on the Bolsa Mexicana de Valores, providing access to the global shipping and air freight industries.
– **GoGold ETF (GOAU)** launched in Colombia to target investments in the precious metals sector.
– **Investment in Defense and AI**:
– The **U.S. Global Technology and Aerospace & Defense ETF (WAR)** was launched in December 2024. The fund aims to capitalize on the ongoing technological transformation in defense, with global defense spending reaching a record **$2.7 trillion** in 2024.
### Share Repurchase and Dividend Declaration
– **Share Repurchase**:
– During FY 2025, U.S. Global Investors repurchased **801,043 shares** at a net cost of approximately **$2 million**. This represents a **4% increase** in shares repurchased from the prior year.
– **Dividend Declaration**:
– The Board of Directors has declared a **monthly dividend of $0.0075 per share** for the period from July 2025 through September 2025. The company has consistently paid a monthly dividend since 2007.
### Liquidity and Capital Resources
– **Net Working Capital**: As of June 30, 2025, the company reported a net working capital of approximately **$37.2 million**.
– **Cash and Cash Equivalents**: The firm holds approximately **$24.6 million** in cash and cash equivalents, ensuring adequate liquidity to meet current obligations.
### Closing Remarks
The financial results reflect a challenging year for U.S. Global Investors amid a turbulent market environment. CEO Frank Holmes highlighted the resilience of the American economy and reiterated the company’s commitment to guiding investors through volatility with strategic investment opportunities.
### Upcoming Webcast
The company has scheduled a webcast for September 9, 2025, at 7:30 a.m. Central time to discuss the key financial results for the fiscal year. This session will feature Frank Holmes alongside other executives, providing further insights into their strategies and future outlook.
For participation details, interested parties can register for the earnings webcast on the company’s official website.
### Income Statement (Selected Financial Data – dollars in thousands)
| 12 months ended | 12 months ended | |
|---|---|---|
| 6/30/2025 | 6/30/2024 | |
| Operating Revenues | 8,452 | 10,984 |
| Operating Expenses | 11,438 | 11,464 |
| Operating Income (Loss) | (2,986) | (480) |
| Total Other Income | 2,724 | 2,395 |
| Income (Loss) Before Income Taxes | (262) | 1,915 |
| Income Tax Expense | 72 | 582 |
| Net Income (Loss) | (334) | 1,333 |
| Net Income (Loss) Per Share (Basic and Diluted) | (0.03) | 0.09 |
| Avg. Common Shares Outstanding (Basic) | 13,343,506 | 14,182,300 |
| Avg. Common Shares Outstanding (Diluted) | 13,344,627 | 14,182,353 |
| Avg. Assets Under Management (Billions) | 1.4 | 1.9 |
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### Balance Sheet (unaudited – dollars in thousands)
| 6/30/2025 | 6/30/2024 | |
| Cash and Cash Equivalents | 24,600 | XX |
| Net Working Capital | 37,200 | XX |
| Total Assets | XX | XX |
| Total Liabilities | XX | XX |
| Total Stockholders’ Equity | XX | XX |
