U.S. Global Investors, Inc. Q3 FY2025 earnings call

CEO Frank Holmes' Statements - Discussed the company's quantum mental strategy for creating thematic smart beta 2.0 products, emphasizing rigorous back testing and focus on momentum, deep value, and portfolio recalibration. - Shared views on industries like airlines (seeing them as growth rather than cyclical) and gold (positive outlook with Basel III implications), and plans to increase exposure to the Bitcoin ecosystem using funds from the paid-down HIVE convertible debenture. - Highlighted stock buyback program and dividend policy, noting a total shareholder yield of 10.53%. ### CFO Lisa Callicotte's Financial Highlights - Presented financials: assets under management $1.4B, operating revenues $2.1M, quarterly net loss $382,000. - Explained breakdown of earnings into operational and other earnings, and changes in revenues and expenses compared to prior year. ### Holly Schoenfeldt's Marketing and Distribution - Continued commitment to sharing market insight via YouTube and TikTok videos. - Mentioned upcoming conferences like Wealth Management Edge and Rural Natural Resource Symposium, with team participation. - Noted expansion of Frank Talk blog on Substack and encouraged following on social media platforms.

Assets under management for the quarter were $1.4 billion. Operating revenues were $2.1 million, with a quarterly net loss of $382,000. Operating revenues consist of operational earnings from advisory services and other earnings from realized/unrealized gains/losses on investment holdings. Operating revenues decreased by $490,000 or 19% from the same quarter last year, primarily due to decreases in assets under management, especially in the JET ETF. Operating expenses for the current quarter were $3 million, a decrease of $85,000 or 3%, mainly from lower general and administrative expenses offset by increased advertising.

- Plans to increase exposure back to the Bitcoin ecosystem using capital from the paid-down HIVE convertible debenture. ### - WAR ETF is positioned to benefit amid rising geopolitical risks. ### - Expect gold to continue performing well with Basel III implications, suggesting gold funds will see different flow.

- Market fluctuations impacting asset values and earnings. ### - Apathy towards certain industries (airlines, gold stocks) leading to redemptions despite positive performance. ### - High-frequency trading and arbitrage affecting volatility and investor sentiment.