GROW · U.S. Global Investors, Inc.

U.S. Global Investors swung to a profit in Q3 FY2026 with net income of $2.7 million, driven by a 31% year-over-year increase in operating revenues to $2.8 million and controlled expenses at $2.7 million, yielding modest operating income of $88 thousand. Other income contributed significantly at $1.745 million, boosting pre-tax income to $1.8 million, aided by a $0.8 million tax benefit. AAUM hit $1.6 billion, the highest since June 2024, fueled by strength in gold strategies like USERX, UNWPX, and GOAU amid record gold miner cash flows and elevated prices. CEO Frank Holmes highlighted renewed investor interest in precious metals. The WAR ETF saw AUM nearly double to $20 million, capitalizing on AI-driven defense modernization and record global defense spending of $2.9 trillion in 2025. Resilience in JETS and SEA ETFs was noted despite fuel and geopolitical pressures, supported by strong passenger demand and freight volume growth. Shareholder returns remain robust with 9.96% yield, a new $0.0075 monthly dividend through June, and 776k shares repurchased. Balance sheet strength with $36.2 million net working capital and $24.6 million cash underscores liquidity to support operations and capital returns.