U.S. Global Investors, Inc. reported a net loss of $334,000, or $0.03 per share, for the fiscal year ended June 30, 2025. This contrasts with a net income of $1.3 million, or $0.09 per share, in fiscal year 2024. Total operating revenues decreased by 23% to $8.5 million from $11 million in the prior fiscal year, primarily due to lower assets under management (AUM).
Average AUM for fiscal year 2025 was $1.4 billion, down from $1.9 billion in fiscal year 2024, with total AUM at period-end reaching $1.3 billion compared to $1.6 billion at June 30, 2024. Despite these financial headwinds, the company maintained a shareholder yield of 9.1% as of June 30, 2025. U.S. Global Investors repurchased 801,043 shares at a net cost of approximately $2 million in fiscal year 2025, a 4% increase in the number of shares repurchased compared to the previous year.
The company continued its monthly dividend program, with the Board authorizing $0.0075 per share per month from July 2025 through September 2025. U.S. Global Investors also expanded its international presence, listing the U.S. Global Sea to Sky Cargo ETF (SEA) on the Mexican Stock Exchange and launching the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) in Colombia in May 2025. The U.S. Global Technology and Aerospace & Defense ETF (WAR), launched in December 2024, is positioned to benefit from record global defense spending, which reached $2.7 trillion in 2024.
As of June 30, 2025, U.S. Global Investors maintained a strong liquidity position with net working capital of approximately $37.2 million. The company held $24.6 million in cash and cash equivalents, providing adequate resources to meet its current obligations. These strategic expansions and consistent shareholder returns aim to position the company for future growth despite the challenging market conditions experienced in fiscal year 2025.
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