Highlights 

  • Net income surged 378% year-over-year to USD 1.5M in Q1 FY2026 
  • Operating revenue rose 15% sequentially and 4% year-over-year to USD 2.3M 
  • Positive fund inflows across gold strategies amid record bullion prices 

U.S. Global Investors, Inc. (NASDAQ:GROW), a registered investment adviser, announcednet incomeof USD 1.5M for the quarter ended September 30, 2025, marking a profitable rebound and a 378% increase from the prior-year period. The result was supported by investment income of USD 2.3M, representing a 300% sequential rise and a 148% improvement year-over-year. 

Operating revenue totaled USD 2.3M in Q1 FY2026, up 15% from the June 2025 quarter and 4% higher than the same quarter in 2024. Averageassets under managementreached USD 1.4B, a modest increase from USD 1.3B in the prior quarter but slightly below USD 1.5B recorded in Q1 FY2025. 

As of September 30, 2025, the company’sshareholderyield stood at 8.32%, roughly double the yield on both five- and ten-year U.S. Treasury bonds. 

Impact of Gold Market Trends 

Gold prices surged 47%year-to-datethrough September 2025, fueled by global economic uncertainty and geopolitical tensions. According to LSEG Lipper data, gold mining funds attracted USD 5.4B in inflows during Q3 — the highest since December 2009. 

U.S. Global Investors’ suite of gold-oriented funds, including the Global Natural Resources Fund, Gold and Precious Metals Fund, and GO GOLD and Precious Metal Miners ETF, all recorded positive inflows compared to net outflows a year earlier. 

“I’m delighted to see renewed investor interest in our gold mining and natural resources funds during the first quarter of fiscal 2026,” said Frank Holmes, CEO and Chief Investment Officer. “Even with this momentum, data shows that investors remain significantly underexposed to the gold and gold mining sectors.” 

Market Position and Offerings 

Holmes noted that Bank of America named gold miners its top investment theme for 2025, citing a record global debt level of USD 338T at the end of Q2. U.S. Global Investors offers three primary gold strategies: USERX, focused on senior producers; UNWPX, targeting junior and intermediate miners; and GOAU, which invests in a mix of producers and royalty companies. 

He also highlighted that other BofA themes, including defense technology andartificial intelligence, are reflected in the firm’s WAR ETF, which invests across technology and aerospace sectors. 

Shareholder Returns and Liquidity 

The Board of Directors approved monthly dividends of USD 0.0075 per share through December 2025, with scheduled payments on November 24 and December 29. In Q1 FY2026, the company repurchased 159,074 shares for approximately USD 0.4M as part of its ongoing USD 5M annual share buyback program. 

As of September 30, 2025, U.S. Global Investors reported networking capitalof USD 37.2M, including USD 24.6M in cash and cash equivalents, ensuring strongliquidityto meet operational and strategic needs.