U.S. Global Investors (GROW) investor relations material

Executive summary

• Fiscal year 2026 reported net income of $3.1 million ($0.24 per share), reversing a prior year loss, with operating revenues of $10.3 million and average assets under management of $1.53 billion.

• The company employs a quantamental Smart Beta 2.0 strategy, focusing on thematic ETFs in gold, airlines, and defense, and emphasizes ongoing shareholder engagement through digital channels.

• Shareholder value is prioritized through monthly dividends and an active share repurchase program, reducing shares outstanding by 20% since pre-COVID.

Financial highlights

• Operating revenues rose 21% year-over-year to $10.3 million, up from $8.5 million, driven by gold and natural resource funds.

• Net income after taxes was $3.1 million, a $3.4 million improvement from a loss in FY 2025.

• Average assets under management grew to $1.61 billion by June 2026, with period-end AUM up 26% to $1.7 billion.

• Net investment income reached $4.1 million, including a $3.2 million non-cash gain on equity securities.

• Net book value stands at $45.1 million, with working capital of $35.7 million and $24.3 million in cash and equivalents.

Outlook and guidance

• Continued focus on thematic products in gold, natural resources, airlines, defense, and increased exposure to the Bitcoin ecosystem.

• Ongoing stock buybacks and monthly dividend payments, with a current monthly yield of 2.83% approved through September 2026.

• Emphasis on digital engagement and expanding the subscriber base for investor communications.