Logo

GROW

U.S. Global Investors, Inc.

GROW

U.S. Global Investors, Inc. • NASDAQ
$2.44 ▼ -2.21% (-0.06)
Market Cap $31.56 M
52w High $2.78
52w Low $2.02
Dividend Yield 0.09%
P/E 34.79
Volume 30.04K
Outstanding Shares 12.96M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q1-2026 $2.251M ▲ $1.584M ▼ $1.507M ▲ 66.948% ▲ $0.12 ▲ $1.857M ▲
Q4-2025 $1.96M ▼ $1.622M ▼ $-181K ▲ -9.235% ▲ $-0.014 ▲ $-327K ▼
Q3-2025 $2.103M ▼ $1.706M ▲ $-382K ▼ -18.165% ▼ $-0.029 ▼ $-234K ▼
Q2-2025 $2.231M ▲ $1.544M ▼ $-86K ▼ -3.855% ▼ $-0.006 ▼ $-100K ▼
Q1-2025 $2.157M $1.635M $315K 14.604% $0.023 $459K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q1-2026 $34.32M ▲ $48.93M ▲ $2.939M ▲ $45.991M ▲
Q4-2025 $34.244M ▼ $48.064M ▼ $2.857M ▲ $45.207M ▼
Q3-2025 $35.954M ▲ $48.758M ▼ $2.658M ▼ $46.1M ▼
Q2-2025 $35.711M ▼ $50.108M ▼ $2.823M ▲ $47.285M ▼
Q1-2025 $37.049M $51.084M $2.717M $48.367M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q1-2026 $1.507M ▲ $-32K ▼ $738K ▲ $-672K ▼ $34K ▲ $-32K ▼
Q4-2025 $-181K ▲ $-14K ▲ $-1.069M ▼ $-627K ▲ $-1.71M ▼ $-15K ▲
Q3-2025 $-382K ▼ $-425K ▼ $1.388M ▲ $-741K ▲ $222K ▲ $-424K ▼
Q2-2025 $-86K ▼ $-399K ▼ $-12K ▼ $-885K ▼ $-1.296M ▼ $-406K ▼
Q1-2025 $315K $16K $750K $-829K $-63K $16K

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Administrative Service
Administrative Service
 $0 ▲$0 ▲$0 ▲$0 ▲
Investment And Advisory Services
Investment And Advisory Services
 $0 ▲$0 ▲$0 ▲$0 ▲
Investment Performance
Investment Performance
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue over the past several years has been roughly flat to slightly lower, which suggests the business is not in a strong growth phase. Profitability has been inconsistent: one earlier year stands out as unusually strong, followed by much thinner profits and even a recent small loss per share. This pattern points to earnings that are highly sensitive to market conditions, asset levels, and performance fees, which is common for a small asset manager focused on specialized strategies. Overall, the income statement reflects a niche firm with uneven, sometimes fragile, earnings power rather than a steadily expanding profit engine.

Balance Sheet

Balance Sheet The balance sheet looks clean and relatively simple. The company operates with no financial debt, relying mainly on shareholder equity to fund itself, which reduces financial risk. Total assets and equity have been fairly stable, indicating a business that is not aggressively expanding but also not shrinking sharply. Cash levels have moved around but generally remain a meaningful portion of total assets, giving the firm some flexibility to weather slow periods or invest selectively. In short, the company appears conservatively financed, but also modest in scale.

Cash Flow

Cash Flow Cash generation from the core business has hovered around breakeven, with only a brief period of clearly positive operating and free cash flow. This fits with the income statement picture of volatile and sometimes thin profitability. Capital spending needs appear low, which is typical for an asset manager, so when earnings improve, more of that can in theory turn into free cash flow. However, the recent trend suggests cash flows are not yet consistently strong or predictable, and may continue to move up and down with markets and fund flows.

Competitive Edge

Competitive Edge U.S. Global Investors is a boutique player in a world dominated by very large asset managers. Its edge lies in focusing on narrow themes—such as airlines, gold miners, shipping, and defense—and in using rules-based, quantitative approaches rather than broad, traditional funds. This specialization can attract investors looking for targeted exposures that bigger firms may overlook. At the same time, being small and niche means the company likely faces challenges around scale, marketing reach, and fee pressure. Its brand is closely tied to its CEO and to a handful of flagship ETFs, which creates both recognition and concentration risk if those products or sectors fall out of favor.

Innovation and R&D

Innovation and R&D The firm leans heavily on innovation for differentiation. Its “Smart Beta 2.0” framework blends quantitative stock selection with active oversight, which it uses to design and manage thematic ETFs. It has also been willing to move early into areas like airlines-focused ETFs, gold royalty companies, shipping, defense technology, and even the broader Bitcoin ecosystem. This agility and willingness to experiment can be a strength, allowing the company to capture emerging themes before they are crowded. But it also brings risk: newer products may not gain traction, and exposure to volatile areas like digital assets and cyclical industries can make results more erratic. R&D here is less about labs and more about ongoing product design, data-driven research, and adapting strategies to fast-changing markets.

Summary

U.S. Global Investors is a small, niche-focused asset manager with a long history but relatively modest and uneven financial results in recent years. The business carries no debt and maintains a straightforward, equity-funded balance sheet, which helps limit financial strain but also reflects limited scale. Cash flows and earnings have been choppy and closely tied to market trends and investor interest in its specialized themes. The company’s main strengths lie in its innovative, rules-based investment approach, its early moves into distinctive thematic ETFs, and its agility as a boutique shop. Key risks include dependence on a few flagship products and sectors, sensitivity to market cycles, competition from much larger firms, and the inherent volatility of some of the themes it pursues. Overall, it is a specialized, innovation-driven manager whose fortunes are likely to remain closely linked to the popularity and performance of its niche strategies.

NEWS

October 28, 2025 · 10:00 AM UTC

U.S. Global Investors Partners with San Antonio's Keystone School to Support Model UN and Future Leaders

Read more

September 22, 2025 · 4:08 PM UTC

U.S. Global Investors Maintains Monthly Dividends as Its GOAU Gold Mining ETF Hits a New Record High

Read more

September 8, 2025 · 4:05 PM UTC

U.S. Global Investors Announces Fiscal Year 2025 Results and Strategic International ETF Listings for GoGold in Mexico and Colombia

Read more

September 5, 2025 · 3:24 PM UTC

U.S. Global Investors Announces Fiscal 2025 Webcast

Read more