U.S. Global Investors (GROW) investor relations material

Executive summary

• Achieved strong financial performance in Q3 2026, with net income of $2.7 million ($0.23 per share), reversing prior losses and driven by higher investment income, increased operating revenues, and lower expenses.

• Average assets under management reached $1.63 billion, up 15% year-over-year, with growth led by gold, natural resources, airlines, and AI-driven defense strategies.

• Strategic share buybacks and consistent dividend payments remain central to enhancing shareholder value, with a shareholder yield of 9.96%.

• Emphasis on thematic and quantamental investing, including smart beta 2.0, and significant gains in AI and technology investments.

• CEO Frank Holmes owns 19% of shares and controls 99% of voting rights.

Financial highlights

• Operating revenues for Q3 2026 were $2.8 million, a 31% increase year-over-year.

• Net income for the quarter was $2.7 million ($0.23 per share), compared to a net loss of $382,000 in Q3 2025.

• Operating expenses decreased by 10.7%–11% due to lower compensation, advertising, and general costs.

• Operating income was $88,000, reversing a loss of $893,000 in the prior year.

• Shareholders’ equity increased to $46.0 million at March 31, 2026.

Outlook and guidance

• Continued optimism for gold and gold equities, citing macroeconomic imbalances, global demand, and record-high gold prices.

• Expectation of ongoing growth in active and thematic ETFs, especially in AI, defense, and global travel sectors.

• Monthly dividend of $0.0075 per share approved through June 2026.

• Management expects continued volatility in net investment income due to market fluctuations and investment timing.

• Plans to increase exposure to the Bitcoin ecosystem and maintain disciplined cash management.