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U.S. Global Investors (GROW) investor relations material
U.S. Global Investors Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary13 Nov, 2025
Executive summary
Net income for the quarter ended September 30, 2025, was $1.5 million ($0.12 per share), up from $315,000 ($0.02 per share) in the prior year, driven by higher net investment income and increased operating revenues.
Operating revenues were $2.3 million, up 4.4% year-over-year, with average assets under management of $1.4 billion for the quarter.
The company maintains a strong balance sheet with $24.6 million in cash and equivalents, steady cash flow, and ongoing share repurchases and monthly dividends.
Strategic focus remains on thematic Smart Beta 2.0 products, gold, natural resources, airlines, luxury goods, and innovation in quantamental investment strategies.
Investment in the Bitcoin ecosystem and unique yield-generating products continues, with exposure through HIVE Digital Technologies.
Financial highlights
Net income for the quarter was $1.5 million, up from $315,000 year-over-year, with EPS rising to $0.12 from $0.02.
Operating revenues increased by $94,000 (4.4%) year-over-year, primarily due to higher advisory and administrative fees.
Operating expenses rose by $50,000 (1.8%), mainly from higher employee compensation and advertising, offset by lower general and administrative costs.
Net investment income surged to $2.3 million from $917,000, driven by $1.9 million in net unrealized gains on equity securities.
Average AUM was $1.4 billion, down from $1.46 billion year-over-year but up sequentially.
Outlook and guidance
Management remains optimistic about future growth, citing a rebound in AUM, improved investment income, and continued innovation in thematic ETFs.
Ongoing stock buybacks, monthly dividends, and a focus on the Bitcoin ecosystem are key priorities.
The Board authorized a monthly dividend of $0.0075 per share through December 2025.
Advisory contracts for USGIF and ETFs have been renewed through September 2026 and July 2026, respectively.
Management expects continued volatility in net investment income due to market fluctuations and investment timing.
Capital allocation priorities: buybacks, dividends, M&A
Strategy to counter gold product apathy
Sustainability of net income from unrealized gains
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Next U.S. Global Investors earnings date
Q2 202612 Feb, 2026
Next U.S. Global Investors earnings date
Q2 202612 Feb, 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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