U.S. Global Investors, Inc. (Nasdaq: GROW) reported this morning its financial results for fiscal Q1 2022, earning US$6.5 million in revenue. This is an increase from Q1 2021’s revenue of US$3.2 million.
“I’m thrilled that U.S. Global Investors has remained a go-to fund shop for investors seeking strategic exposure to thematic sectors such as airlines, gold mining, luxury goods, and crypto mining,” said CEO Frank Holmes.
Operating margin also increased to 44% during the quarter compared to last year’s 29%. The firm ended with a net income of US$2.4 million, up from US$1.9 million recorded in the previous year. The quarterly income translated to US$0.16 earnings per share.
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The company also ended the quarter with US$19.8 million in cash and cash equivalents, putting the balance of the current assets at US$30.8 million. Meanwhile, current liabilities ended at US$4.1 million.
At the end of the quarter, the company had US$4.0 billion worth of average assets under management, up from last year’s US$2.0 billion.
The firm further announced that it will finally be launching in January 2022 its U.S. Global Sea-to-Sky Cargo ETF, aimed at tying investments to the global sea shipping and air freight industries.
Holmes also shared a table comparing the firm to other companies in the ETF space, arguing that U.S. Global Investors is “deeply undervalued.” He said the management is working “to unlock the deep value of the stock moving into 2022.”
U.S. Global Investors last traded at US$5.10 on the Nasdaq.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
