U.S. Global Investors(GROW) - 2025 Q4 - Annual Results

Financial Performance - For the fiscal year ended June 30, 2025, U.S. Global Investors reported a net loss of $334,000, or $0.03 per share, compared to a net income of $1.3 million, or $0.09 per share, in the previous year[2] - Total operating revenues decreased by 23% to $8.5 million from $10.98 million for the fiscal year ended June 30, 2024[19] - Average assets under management (AUM) fell to $1.4 billion from $1.9 billion year-over-year, with total AUM at period-end of $1.3 billion compared to $1.6 billion[3] Shareholder Returns - The shareholder yield as of June 30, 2025, was 9.1%, more than double the yield on the 10-year Treasury bond[3] - During the fiscal year, the company repurchased 801,043 shares at a net cost of approximately $2 million, marking a 4% increase in share repurchases compared to the previous year[11] - A monthly dividend of $0.0075 per share has been authorized from July 2025 through September 2025, continuing a trend of monthly dividends since 2007[16] Investment Initiatives - The U.S. Global Technology and Aerospace & Defense ETF (WAR) was launched in December 2024, targeting the significant defense and technology transformations driven by AI and cybersecurity[5] - The U.S. Global Sea to Sky Cargo ETF (SEA) was listed on the Mexican Stock Exchange, expanding the company's international ETF offerings[8] Market Trends - Global defense spending reached a record $2.7 trillion in 2024, with NATO committing to raise its target to 5% of GDP by 2035, highlighting the growth potential in defense-related investments[7] Liquidity Position - As of June 30, 2025, the company had net working capital of approximately $37.2 million, with $24.6 million in cash and cash equivalents, indicating strong liquidity[17]