U.S. Global Investors, Inc. Q4 FY2025 earnings call

• U.S. Global Investors uses a quantamental strategy for thematic smart beta 2.0 products, with rigorous backtesting before launching new products.
• The company monitors monetary and fiscal policies regularly, providing investor alerts.
• Strategically buys back stock on flat and down days; repurchased 801,000 Class A shares using $1.9 million cash.
• Pays a monthly dividend with a 3.66% yield and has a shareholder yield of 9%.
• Marketing initiatives include original video content on YouTube/TikTok, media interviews (e.g., Seeking Alpha podcast, FOX Business), and webcasts promoting products like the war ETF and TRIP ETF.
• Expertise in thematic investing across gold, natural resources, airlines, luxury goods, and intersections of AI/military spending.

Average assets under management for U.S. Global Investors during the fiscal year ending June 30, 2025, were $1.4 billion. Operating revenues were $8.5 million, a decrease of $2.5 million (23%) from the prior year, primarily due to a decline in assets under management, particularly in the JETS ETF. The net loss for the year was $334,000 or $0.03 per share. Product segments such as JETS and GOAU are listed on international exchanges like the Mexican Stock Exchange. GROW's small cap stocks started turning up, while HIVE is in a new growth cycle with Bitcoin mining. The CETF is connected to emerging markets, and gold-related ETFs were influenced by de-dollarization efforts and central bank buying of gold.

• Continues to buy back stock on flat and down days.
• Maintains monthly dividend payments.
• Bullish on thematic asset classes, expecting fund flows and directional changes to turn rapidly.
• Confident in a long-term secular bull market for thematic investments.

• Market volatility impacting assets under management.
• Redemptions in gold ETFs despite rising gold prices.
• Liquidity concerns due to the growth of ETFs and potential impact on mutual funds and private equity.
• Macro-economic uncertainties affecting investment performance.