U.S. Global Investors reported sequential assets under management growth of 12% in the second quarter of fiscal 2026, with AUM reaching $1.5 billion. The asset management firm's operating revenue increased 11.5% quarter-over-quarter, demonstrating momentum across its business segments. The company attributed gains partly to sustained strength in air travel demand and elevated gold demand during 2025.
The firm returned to profitability in the quarter, reporting income before taxes of $535,000 compared to a loss of $116,000 in the year-ago period. However, results were moderated by a $1.3 million tax expense related to HIVE convertible securities. Management indicated the company expects an offsetting tax benefit in the third quarter, which should provide partial relief to the current period charge.
The results underscore improving operational performance for the investment manager, with both asset growth and revenue expansion outpacing typical market movements. The quarter-over-quarter progression in profitability reflects the company's ability to leverage its growing asset base while managing operating costs.