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Edge20 Feb 2026
Dollar General: The Rural Retailer Playbook
How Dollar General built a small-box empire across rural America, scaling value and convenience into one of retail's most durable business models.
U.S. Global Investors
U.S. Global Investors (GROW) investor relations material
U.S. Global Investors Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary23 Feb, 2026
Executive summary
Average assets under management reached $1.48–$1.5 billion in Q2 2026, with operating revenues of $2.5–$2.51 million and pre-tax income of $535,000, reversing a prior-year loss.
Net income for the six months ended December 31, 2025, was $661,000, up from $229,000 year-over-year, driven by higher investment income and operating revenues, despite a significant tax adjustment.
The company maintained strong liquidity, steady cash flow, and a robust balance sheet, continuing share buybacks and monthly dividends.
Strategic focus remains on Smart Beta 2.0, thematic investing in gold, natural resources, airlines, luxury goods, and expanding exposure to the Bitcoin ecosystem.
Financial highlights
Operating revenues for the quarter were $2.5–$2.51 million, up 13% year-over-year, with operating expenses down to $2.6 million.
Net loss after taxes was $846,000 for the quarter, mainly due to a $1.3 million tax adjustment related to HIVE convertible securities, with an offsetting benefit expected next quarter.
Net income for the six months ended December 31, 2025, was $661,000, with net investment income of $2.8 million.
Cash and cash equivalents stood at $25.2 million, up 2.7% since June 2025.
Shareholders' equity at December 31, 2025, was $44.2 million, down $1.0 million since June 2025 due to repurchases and dividends.
Outlook and guidance
Expectation of a $1.3 million tax benefit in the next quarter to offset the current period's tax expense.
Board-approved monthly dividend of $0.0075 per share, yielding 2.84% at a $3.17 share price, extended through March 2026.
Continued focus on ETF product growth, stock buybacks, and thematic funds, with positive outlook for gold and sector growth.
Management believes current cash reserves and investments are sufficient for foreseeable needs.
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Next U.S. Global Investors earnings date
Q3 20268 May, 2026
U.S. Global Investors
Next U.S. Global Investors earnings date
Q3 20268 May, 2026
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Frequently asked questions
U.S. Global Investors Inc. is an investment management firm based in San Antonio, Texas. The company primarily offers services to investment companies, acting as an advisor and providing portfolio management across various funds, including equity, balanced, and fixed income funds, as well as hedge funds. U.S. Global Investors specializes in no-load mutual funds and exchange-traded funds (ETFs). The firm is recognized for its innovative approaches in the investment sector, catering to specialized markets and a broad array of investment options. Its shares are listed on the NASDAQ.
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