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The Marygold Companies, Inc. (symbol: MGLD) is a diversified multinational conglomerate with a strategic focus on identifying, acquiring, and managing profitable and undervalued companies across various sectors. Established in 1996 as a small technology firm under the name Concierge Technologies, Inc., the company underwent significant transformation and rebranded to The Marygold Companies in 2022.
Today, The Marygold Companies operates through several key subsidiaries:
- Marygold & Co.: A fintech mobile banking app that provides an innovative platform for financial management, including tax filing, investment, and spending solutions. The app is available for free on both Android and iOS, offering services such as fee-free spending accounts and Money Pool investment accounts.
- USCF Investments: A leader in financial services offering investment management and advisory services.
- Gourmet Foods: Specializes in the manufacture of high-quality food products, catering to diverse culinary preferences.
- Printstock Products: Engages in printing and packaging solutions, serving a broad range of industries.
- Brigadier Security Systems: Provides advanced security system installations and services to ensure safety and security.
- Original Sprout: A beauty products company known for its eco-friendly and safe personal care products.
The company's mission, encapsulated in its motto “Growing Together,” emphasizes the creation of unity among its subsidiaries, the parent company, and its shareholders. This vision is supported by robust business practices aimed at generating consistent revenue streams and increasing shareholder value. The Marygold Companies' stock is listed on the NYSE American under the ticker symbol MGLD.
Recently, The Marygold Companies made headlines with its subsidiary Marygold & Co. partnering with the AI-driven tax firm april to offer free tax filing services within its app. This strategic move aims to enhance client experience by providing a comprehensive financial management solution under one platform. The app’s integration of AI-driven tax filing ensures maximum refunds for users, reinforcing the company’s commitment to innovation and client satisfaction.
The Marygold Companies (NYSE American: MGLD) reported financial results for Q2 FY2025. Revenue decreased to $8.0 million from $8.5 million in the prior year, with a net loss of $1.7 million ($0.04 per share) compared to a loss of $1.2 million ($0.03 per share) in Q2 FY2024.
Six-month revenue totaled $15.9 million, down from $16.7 million, with a net loss of $3.3 million. The decline was primarily due to reduced assets under management at USCF Investments to $3.1 billion from $3.5 billion. Cash and equivalents stood at $5.7 million, while stockholders' equity decreased to $23.4 million.
The company secured a $4 million note and completed a $2.3 million equity raise. Management expects to reduce expenses in Marygold & Co. after completing the proof-of-concept phase, with plans to roll out their fintech app in the UK while strategizing US market entry.
USCF Investments, a subsidiary of The Marygold Companies (NYSE-American: MGLD), announced significant growth in its ETF Trust platform, surpassing $500 million in assets under management. The company's USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (SDCI) has been nominated for 'Commodity ETF of the Year' by ETF.com.
Launched in 2018, SDCI was designed to provide investors with dynamic, broad commodity exposure without requiring a K-1 tax form. The fund represents part of USCF's broader portfolio, which includes fifteen ETFs across commodity and alternative asset classes. The company, which pioneered the first oil ETF in 2006, now manages over $3 billion in total assets from its Walnut Creek, California headquarters.
The Marygold Companies (NYSE American: MGLD) has successfully closed its previously announced underwritten public offering. The company issued 2,050,000 shares of common stock at a public offering price of $1.10 per share, generating gross proceeds of approximately $2,255,000 before deducting underwriting discounts, commissions, and other offering expenses.
Maxim Group served as the sole book-running manager for the offering, which was conducted pursuant to an effective shelf registration statement on Form S-3. The offering was made available through a prospectus and prospectus supplement, with documentation accessible on the SEC's website.
The Marygold Companies (NYSE American: MGLD) has announced the pricing of an underwritten public offering of 2,050,000 shares of common stock at $1.10 per share. The offering is expected to generate gross proceeds of approximately $2,255,000 before deducting underwriting costs and other expenses.
The company has granted underwriters a 45-day option to purchase up to 307,500 additional shares at the public offering price. Maxim Group is serving as the sole book-running manager. The offering is expected to close around January 28, 2025.
The net proceeds will be used to retire or reduce debt, make capital contributions to Marygold & Co. subsidiaries in the U.S. and U.K., and for general working capital purposes.
The Marygold Companies (NYSE American: MGLD) has announced an underwritten public offering of its common stock. The company plans to grant the underwriter, Maxim Group , a 45-day option to purchase up to an additional 15% of the offered shares at the public offering price, less underwriting discounts and commissions.
The net proceeds will be used to:
- Retire or reduce debt
- Make capital contributions to Marygold & Co. subsidiaries in the U.S. and U.K.
- Fund general working capital and corporate purposes
The offering is being made through an effective shelf registration statement on Form S-3 filed with the SEC on December 18, 2024, and declared effective on December 27, 2024. The completion, size, and terms of the offering are subject to market conditions.
Marygold Companies (NYSE American: MGLD) has launched a new Cash Management Account feature in its mobile fintech banking app, offering up to 6% return through June 30, 2025, or until reaching $100 million in assets under management. The app, released in late 2023, combines various financial services including:
- Money Pools for tracking financial goals with pre-set investment portfolios
- Customizable spending limits
- Money management tools for savings tracking and money transfers
Developed in-house over four years, the app is currently available to U.S. consumers on iPhone and Android, with plans to launch a UK version soon.
The Marygold Companies (NYSE American: MGLD) reported financial results for Q1 FY2025. Revenue decreased to $7.9 million from $8.2 million year-over-year, with a net loss of $1.6 million ($0.04 per share) compared to a $0.5 million loss ($0.01 per share) in Q1 FY2024. Cash and equivalents increased to $6.7 million, while total assets rose to $35.9 million. The company's largest unit, UCSF Investments, saw average assets under management decline to $3.1 billion from $3.5 billion. The increased losses were attributed to continued investments in financial services, particularly in their proprietary mobile fintech app development and recent acquisition of stake in Midland Capital Holdings
The Marygold Companies (MGLD) has acquired a 7.95% ownership stake in Midland Capital Holdings (MCHC) for $1.8 million. MCHC's main operating entity, Midland Federal Savings and Loan Association, has $115 million in total assets and operates four branches in the Chicago area. The deal includes 180,044 warrants to purchase additional MCHC shares at $22.25, expiring in 2034. This acquisition aligns with Marygold's focus on financial services and fintech, following recent acquisitions of UK investment firms and the development of a mobile fintech app for spending, investing, and saving.
The Marygold Companies (NYSE American: MGLD) has secured $4.38 million in funding as part of a $6.56 million total private placement with Streeterville Capital, The funding will be used to implement next-stage initiatives for the company's Marygold & Co. project, including marketing its recently developed fintech app.
The app, soft-launched in the U.S. in 2023, offers a digital platform alternative to traditional banking, enabling users to spend, invest, and save. It features a digital wallet, physical debit card, and additional functionalities like unlimited money pool investing and PayAnyone™ capability. The company plans further U.S. market penetration and introduction in the U.K. later this year.
Maxim Group served as the exclusive agent for the private placement. A second funding portion is anticipated for January 2025, subject to certain conditions, with expected proceeds of approximately $2.0 million.
The Marygold Companies (NYSE American: MGLD) reported financial results for the fiscal year and fourth quarter ended June 30, 2024. Key points include:
- FY2024 revenue: $32.8 million (down from $34.9 million in FY2023)
- FY2024 net loss: $4.1 million ($0.10 per share), compared to net income of $1.2 million in FY2023
- Q4 2024 revenue: $8.3 million (down from $8.9 million in Q4 2023)
- Q4 2024 net loss: $1.9 million ($0.05 per share)
- Total assets: $32.9 million (down from $35.3 million)
- Cash and equivalents: $5.5 million (down from $8.2 million)
The company cited investments in its Marygold & Co. mobile fintech app, lower assets under management at USCF Investments, and an impairment charge for Original Sprout as factors impacting results.
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