U.S. Global Investors Announces Restatement of EPS for Q3 2026; Reported Financial Strength Remains Unchanged
Rhea-AI Summary
U.S. Global Investors (NASDAQ:GROW) restated EPS for Q3 and nine months ended March 31, 2026, due to a spreadsheet omission affecting weighted-average shares only.
Q3 EPS was revised from $0.23 to $0.21; nine‑month EPS from $0.27 to $0.26, with no changes to revenue, net income, cash, or other financial statement line items.
For Q3 2026, net income was $2.7 million on $2.8 million in operating revenues, up 10% sequentially and 31% year-over-year, with average AUM of $1.6 billion and management citing more than 20% share repurchases over five years.
Positive
- Q3 2026 operating revenues $2.8 million, up 10% QoQ and 31% YoY
- Q3 2026 net income $2.7 million vs. losses in prior quarter and year-ago
- Q3 2026 operating income $88,000 vs. $893,000 operating loss a year earlier
- Average Q3 2026 assets under management of $1.6 billion vs. $1.4 billion
- Company reports repurchasing over 20% of outstanding shares over five years
Negative
- Q3 2026 basic and diluted EPS restated down from $0.23 to $0.21
- Nine-month 2026 basic and diluted EPS restated down from $0.27 to $0.26
- Spreadsheet omission required filing an amended Q3 2026 Form 10-Q/A
News Market Reaction – GROW
In the Jun 8 session, GROW gained 2.62%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 01 | EPS restatement notice | Neutral | +0.0% | Announced intent to restate EPS with no change to core financials. |
| May 13 | Q3 2026 earnings | Positive | +1.6% | Reported $2.7M net income, EPS $0.23, revenue and AUM growth. |
| May 06 | Earnings webcast | Neutral | +0.0% | Scheduled webcast to discuss upcoming Q3 fiscal 2026 results. |
| Mar 13 | Dividend declaration | Positive | -0.6% | Continued $0.0075 monthly dividend and macro positioning commentary. |
| Feb 20 | Q2 2026 update | Positive | +1.8% | Reported AUM growth to $1.5B and return to profitability. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent fundamentally positive updates (Q2/Q3 earnings, dividend continuity) often saw modestly positive or flat next-day moves, while one dividend headline drew a small negative reaction.
Over the last few months, U.S. Global Investors has highlighted improving fundamentals. Q2 fiscal 2026 showed AUM of $1.5B and a return to profitability, followed by Q3 fiscal 2026 results with net income of $2.7M, EPS initially at $0.23, and operating revenue of $2.8M. The company repeatedly emphasized growing AUM around $1.6B, ongoing monthly dividends of $0.0075 per share, and active buybacks. The current EPS restatement maintains those underlying results while adjusting only share counts and per-share figures.
Key Terms
basic and diluted eps financial
form 10-q/a regulatory
assets under management (aum) financial
consolidated financial statements financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SAN ANTONIO, June 05, 2026 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the "Company"), a registered investment advisory firm1 with longstanding experience in global markets and specialized sectors, today announced that it has completed the restatement of its previously issued earnings per share (EPS) figures for the three-month and nine-month periods ended March 31, 2026, and has filed an amended Quarterly Report for the third quarter of fiscal year 2026 on Form 10-Q/A.
Nature of the Restatement
As was previously reported, the Company identified an inadvertent omission in the spreadsheet used to calculate weighted-average shares. The omission resulted in understated basic and diluted weighted average common shares and overstated basic and diluted EPS for the three- and nine-month periods ended March 31, 2026.
The miscalculation had no impact on the Company’s reported net income, total revenues, operating income, cash position or any other line item in the consolidated financial statements. Only the weighted average number of shares outstanding and the resulting per-share figures are affected.
“We recognize that per‑share information is important to our investors. Upon identifying the clerical omission, we completed the restatement as soon as practicable. We are enhancing our controls over the preparation and validation of spreadsheet calculations to support our commitment to accurate financial reporting,” said Lisa Callicotte, Chief Financial Officer of U.S. Global Investors.
For the three months ended March 31, 2026, weighted average shares were understated by 702,484 shares, resulting in an overstatement of basic and diluted EPS of
| Corrected EPS – Three Months Ended March 31, 2026 | ||
| As Reported | As Restated | |
| Basic & Diluted EPS | ||
| Avg. Shares (Basic) | 11,858,724 | 12,561,208 |
| Avg. Shares (Diluted) | 11,883,102 | 12,585,586 |
For the nine months ended March 31, 2026, weighted average shares were understated by 230,743 shares, resulting in an overstatement of basic and diluted EPS of
| Corrected EPS – Nine Months Ended March 31, 2026 | ||
| As Reported | As Restated | |
| Basic & Diluted EPS | ||
| Avg. Shares (Basic) | 12,535,652 | 12,766,395 |
| Avg. Shares (Diluted) | 12,546,628 | 12,777,371 |
Strong Quarter Highlights – Financial Strength Remains Intact
Notwithstanding the restatement of per-share figures, the Company’s underlying financial results for the third quarter of fiscal year 2026 reflect a strong quarter.
Net Income: Net income for the three months ended March 31, 2026, was
Revenue Growth: Total operating revenues were
Assets Under Management (AUM): Average assets under management (AUM) were
“I want to assure our shareholders that the fundamentals of our business remain strong,” said Mr. Holmes, Chief Executive Officer and Chief Investment Officer of U. S. Global Investors. “Over the past 5 years we have repurchased more than
Selected Financial Data (unaudited): (dollars in thousands, except per share data)
| Three months ended | ||||||
| 3/31/2026 | 3/31/2025 | |||||
| Operating Revenues | ||||||
| Operating Expenses | 2,674 | 2,996 | ||||
| Operating Income (Loss) | 88 | (893) | ||||
| Total Other Income (Loss) | 1,745 | 648 | ||||
| Income (Loss) Before Income Taxes | 1,833 | (245) | ||||
| Income Tax Expense (Benefit) | (844) | 137 | ||||
| Net Income (Loss) | ||||||
| Net Income (Loss) Per Share (Basic and Diluted) | ||||||
| Avg. Common Shares Outstanding (Basic) | 12,561,208 | 13,023,636 | ||||
| Avg. Common Shares Outstanding (Diluted) | 12,585,586 | 13,024,441 | ||||
| Avg. Assets Under Management (Billions) | ||||||
About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years when it began as an investment club. Today, U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment adviser that focuses on niche markets around the world. Headquartered in San Antonio, Texas, the Company provides investment management and other services to U.S. Global Investors Funds and U.S. Global ETFs.
Forward-Looking Statements and Disclosure
This news release and other statements by U.S. Global Investors may include certain “forward-looking statements,” including statements relating to revenues, expenses and expectations regarding market conditions. You can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “opportunity,” “seeks,” “anticipates” or other comparable words. Such statements involve certain risks and uncertainties and should be read with corporate filings and other important information on the Company’s website, www.usfunds.com, or the Securities and Exchange Commission’s website at www.sec.gov.
These filings, such as the Company’s annual report, Form 10-Q and Form 10-Q/A, should be read in conjunction with the other cautionary statements that are included in this release. Future events could differ materially from those anticipated in such statements and there can be no assurance that such statements will prove accurate and actual results may vary. The Company undertakes no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise.
Contact:
Holly Schoenfeldt
Director of Marketing
210.308.1268
hschoenfeldt@usfunds.com
1 Registration does not imply a certain level of skill or training.
