• Food Products: Manufacturing and distribution of prepared meals and snack foods for wholesale and retail markets.
• Security Services: Providing physical security solutions, including alarm systems, access control, and video surveillance for commercial and residential clients.
• Wealth Management Services: Offering financial planning, investment management, and advisory services to individuals and institutional clients.
• Online Jewelry and Watch Marketplace: An e-commerce platform for buying and selling designer jewelry and luxury watches.

Marygold Companies (MGLD) primarily sells its products and services to individuals. Its dominant revenue segment is Food Products, operated through its wholly-owned subsidiary, Grand Western Steaks, which primarily sells premium meats and seafood directly to consumers.

The company serves the following categories of individual customers:

1. Premium Home Consumers: Individuals and households across the United States who purchase high-quality, premium meats and seafood online for personal consumption. These customers prioritize superior taste, quality, and variety for their everyday meals and special occasions, valuing the convenience of direct-to-door delivery from Grand Western Steaks.
2. Special Occasion & Gift Givers: Individuals who purchase gourmet food items, particularly premium meats and seafood from Grand Western Steaks, for holidays, celebrations, or as thoughtful gifts for family, friends, or business associates. These customers value curated selections, quality, and elegant presentation.
3. Fintech Users & Financial Advisory Clients: Marygold Companies also serves individuals through its Financial Services segment, operated by Marygold & Co. This category includes users of their digital wallet and payment services for everyday transactions and remittances, as well as clients seeking personalized financial planning and investment advisory services.

Nicholas D. Gerber, Chairman of the Board, President and Chief Executive Officer

Nicholas D. Gerber was appointed CEO of Marygold Companies in January 2015 and has served for over 10 years. Under his leadership, the company was restructured as a holding company in 2015. Mr. Gerber directly owns 56.79% of the company's shares. He has also made recent acquisitions of the company's common stock, reflecting his continued investment.

Stuart Crumbaugh, Chief Financial Officer

Stuart Crumbaugh has served as the Chief Financial Officer for Marygold Companies since 2017. He has held senior financial management roles at USCF Investments, Marygold's largest subsidiary, since 2015. Prior to joining USCF Investments, Mr. Crumbaugh was Vice President Finance and CFO of Sikka Software Corporation. He also worked as a consultant with Connor Group, where he provided IPO readiness, M&A, and related financial services to various early-stage companies. Notably, he was instrumental in preparing and guiding Solera Holdings, Inc. through its IPO in 2007, having served as CFO for the Americas and Global VP of Finance.

Carolyn M. Yu, Chief Legal Officer and Chief Continuity Officer

David W. Neibert, Director and Chief Operations Officer; Secretary of the Company and Marygold & Co. (UK) Limited

David W. Neibert previously served as CEO of the predecessor company from April 2007 to January 2015, followed by roles as CFO from February 2015 to October 2017, and COO from November 2017 to the present. He has continuously served as President of Original Sprout, and as a Director and officer of Gourmet Foods Ltd., Brigadier Security Systems, and Marygold & Co (US and UK) since their respective acquisitions. Before joining Marygold, he held various executive management positions in the telecom industry from 1992 to 2002.

Timothy M. Rooney, President of Marygold & Co. (Fintech Subsidiary)

Timothy M. Rooney was appointed President of Marygold & Co., a wholly owned fintech subsidiary, in January 2023. He is a founding leadership group member at Marygold & Co., where he helped establish and leads Marygold & Co. Advisory Services, LLC. With over 20 years of experience, Mr. Rooney has a proven track record in creating and launching successful financial services organizations and products, including mutual funds, exchange-traded funds, and retirement plan businesses. His career includes a decade as Vice President, Product Development at Nationwide Investment Management Group, and positions as Vice President, Strategy for Sun America Retirement Markets and head of Strategic Initiatives for Pacific Life Insurance Company.

The key risks to Marygold Companies (MGLD) primarily revolve around its financial performance, the inherent volatility and regulatory landscape of its financial services segments, and the complexities of managing a diverse portfolio of businesses.

1. Sustained Financial Underperformance and Inefficient Capital Utilization: Marygold Companies has experienced declining revenues and widening net losses, with consolidated revenue falling to $30.2 million in fiscal year 2025 from $32.8 million in the prior year, and a net loss increasing to $5.8 million from $4.1 million. The company's Return on Invested Capital (ROIC) stands at a significantly negative -21.40%, which is well below its Weighted Average Cost of Capital (WACC) of 7.55%, indicating that it is not generating returns above its cost of capital. This is further highlighted by the decision to halt funding for its U.S. fintech app due to unsustainable monthly costs exceeding $0.5 million, aiming to save approximately $4 million in annualized expenses.
2. Regulatory and Market Volatility Risks in Financial Services: As a global holding firm with a significant focus on financial services, including its USCF Investments subsidiary which offers exchange-traded funds (ETFs), Marygold Companies is exposed to substantial regulatory and market risks. This includes increased scrutiny from the Securities and Exchange Commission (SEC) regarding digital asset custody and reporting, which directly impacts its financial services segment and fintech operations. The recent launch of a USCF Oil Plus Bitcoin Strategy Fund also introduces exposure to the unique and substantial risks of volatile commodity and cryptocurrency markets, which are relatively new and can be less liquid.
3. Challenges of Managing a Diverse Portfolio of Disparate Businesses: Marygold Companies operates as a holding company with segments in various, seemingly unrelated sectors such as fund management, food products, beauty products, and financial services. While diversification can spread risk, it also presents challenges related to diluted management focus, potential lack of synergy between businesses, and susceptibility to broad-based weakness across segments, as observed in the company's recent performance.

The accelerated rise and increasing sophistication of direct-to-consumer content creation and distribution platforms, including advanced self-publishing tools, robust subscription services like Substack, and the monetization capabilities of social media platforms, pose a significant emerging threat to Marygold Companies' traditional publishing segment (HCI Books). These platforms empower authors and content creators, particularly in the self-help, spirituality, and wellness genres, to bypass traditional publishers, directly reach and engage audiences, and monetize their content. This trend erodes the traditional publisher's value proposition in content acquisition, editing, marketing, and distribution, directly competing for both author talent and reader attention.

Marygold Companies (MGLD) operates across several distinct market segments. Based on available information, the addressable market sizes for their main products and services are outlined below:

Fund Management

Marygold Companies, through its subsidiary USCF Investments, is involved in investment fund management, specifically with Exchange Traded Funds (ETFs) and Exchange Traded Products (ETPs) in the United States. The global ETF market size was valued at approximately $13 trillion as of 2024.

Food Products

Marygold Companies' Food Products segment, operating through Gourmet Foods Ltd. and Printstock Products Limited in New Zealand, manufactures and distributes meat pies, sausage rolls, patisserie cakes, and prints specialty wrappers for the food industry. The New Zealand food manufacturing industry had revenues of approximately USD 20.3 billion in 2024. The global packaging market, relevant to Printstock Products, was valued at USD 1,184.2 billion in 2023 and is projected to grow to USD 1,873.9 billion by 2032.

Beauty Products

The company's Beauty Products segment, under the Original Sprout brand, focuses on the wholesale distribution of hair and skin care products. The global hair care market was valued at USD 92.4 billion in 2023 and is projected to reach USD 138.8 billion by 2032. The global skin care market size was valued at USD 149.3 billion in 2023 and is expected to grow to USD 248.6 billion by 2032.

Financial Services (Fintech App)

Marygold Companies is developing and marketing a mobile fintech application through its Marygold & Co. subsidiaries in the U.S. and U.K. The global fintech market was valued at USD 331.2 billion in 2023 and is anticipated to reach USD 1,480.9 billion by 2032.

Marygold Companies (MGLD) is anticipated to drive future revenue growth over the next two to three years through several key initiatives:

1. Expansion and User Adoption of the Marygold & Co. Fintech App in the UK: Marygold Companies has significantly invested in its mobile fintech application. The app launched in the UK in March 2025 and has a stated goal of attracting a substantial subscriber base through ongoing marketing efforts. The company also introduced a new feature, a Cash Management Account with up to a 6% return, in December 2024, and the app was recognized by Forbes Advisor in April 2025 as one of the best budgeting apps. Continued rollout and increased user adoption in the UK are expected to be significant revenue drivers.
2. Launch of New Exchange Traded Funds (ETFs) by USCF Investments: Despite a decline in average Assets Under Management (AUM) for its USCF Investments subsidiary in fiscal 2024 and Q1 2026, Marygold Companies expects to continue launching newly registered Exchange Traded Funds during the coming year. The introduction of new ETFs would generate additional management and advisory fees, contributing to revenue growth.
3. Strategic Acquisitions in the Financial Services Sector: Marygold Companies has a history of acquiring financial services entities, such as Tiger Financial & Asset Management Limited and Step By Step Financial Planners in the UK. The company's ongoing strategy includes acquiring or developing other revenue-producing sources, with a particular focus on existing sectors like fintech. These strategic acquisitions are poised to expand its service offerings and market reach, thereby increasing revenue.

Share Issuance

• In January 2025, Marygold Companies completed an underwritten public offering of 2,050,000 shares of its common stock at $1.10 per share, generating gross proceeds of approximately $2,255,000.
• As of November 1, 2025, there were 42,817,687 common shares outstanding and 13,302 Series B preferred shares outstanding.
• During the nine months ending March 31, 2023, the company issued 277,037 restricted stock awards and 50,000 stock options to employees.

Inbound Investments

• In September 2024, Marygold Companies secured $4.38 million in initial funding as part of a $6.56 million private placement with Streeterville Capital, LLC, through the sale of a secured promissory note.
• A second funding portion of approximately $2.0 million from this private placement was anticipated in January 2025, with proceeds earmarked for the Marygold & Co. fintech project.
• In December 2024, the Nicholas & Melinda Gerber Living Trust, associated with CEO Nicholas D. Gerber, purchased 42,149 shares of the company's common stock for approximately $72,538.

Outbound Investments

• In July 2025, Marygold Companies sold its wholly-owned Canadian subsidiary, Brigadier Security Systems Ltd., for approximately $2.2 million, realizing a $0.5 million gain on the sale. The proceeds were used to pay down corporate debt and for general corporate purposes.
• In June 2022, Marygold UK acquired all outstanding shares of Tiger Financial & Asset Management, Limited.
• The company has also made earlier acquisitions of UK-based investment advisory firm Step By Step Financial Planners.

Capital Expenditures

• Over the five years leading up to September 2024, Marygold Companies invested more than $15 million in the development and testing of its fintech app (Marygold & Co.) using internally generated cash and profits.
• The total investment in the fintech app since its implementation in 2019 is $19.3 million.
• Further capital contributions to the U.S. Marygold & Co. fintech app stopped in March 2025, and the U.S. app is in "cold storage" due to its inability to become a profitable business, while Marygold & Co. (UK) continues its development and marketing efforts.