The Marygold Companies, Inc. (MGLD) Bundle
An Overview of The Marygold Companies, Inc. (MGLD)
General Summary of The Marygold Companies, Inc. (MGLD)
The Marygold Companies, Inc. (MGLD) is a diversified holding company based in Nevada, operating through multiple subsidiaries across various sectors. The company’s history traces back to its establishment in 2000, evolving to include businesses in fund management, food products, security systems, beauty products, and financial services. Notable subsidiaries include USCF Investments, Gourmet Foods, Brigadier Security Systems, and Kahnalytics, Inc.
As of 2024, MGLD has reported total sales of approximately $7.91 million for the quarter ended September 30, 2024, reflecting a decrease from $8.24 million in the same quarter of 2023. The primary revenue contributors include:
- Fund Management: $4.59 million
- Food Products: $1.82 million
- Beauty Products: $0.60 million
- Security Systems: $0.69 million
- Financial Services: $0.21 million
Company's Financial Performance in the Latest Financial Reports
In the latest financial report for the quarter ended September 30, 2024, The Marygold Companies, Inc. reported:
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Revenue | $7.91 million | $8.24 million | -4% |
| Cost of Revenue | $2.13 million | $2.04 million | 4% |
| Gross Profit | $5.78 million | $6.20 million | -7% |
| Operating Expenses | $7.95 million | $7.23 million | 10% |
| Loss from Operations | $(2.17) million | $(1.04) million | 109% |
| Net Loss | $(1.59) million | $(0.50) million | 217% |
The decline in revenue was primarily driven by decreased average Assets Under Management (AUM) in the fund management segment, which fell to $3.1 billion from $3.5 billion year-over-year. This was influenced by commodity price fluctuations and a challenging high-interest rate environment. The company also experienced a significant increase in operating expenses, largely attributed to higher staffing costs and investments in technology, including the development of a mobile Fintech app.
Introduction to Company as One of the Leader Companies in the Industry
The Marygold Companies, Inc. is recognized as a leader in its diversified sectors, particularly in fund management and food products. The company’s strategic approach to expanding its service offerings and enhancing operational efficiencies positions it favorably within the competitive landscape. MGLD's commitment to innovation and customer satisfaction has established it as a trusted name in multiple industries, making it a key player in the market.
For further insights into why The Marygold Companies, Inc. stands out in its industry, more details can be explored below.
Mission Statement of The Marygold Companies, Inc. (MGLD)
Mission Statement of The Marygold Companies, Inc. (MGLD)
The mission statement of The Marygold Companies, Inc. (MGLD) serves as a roadmap for the organization’s strategic direction and operational focus, guiding its long-term goals and objectives. It articulates the purpose of the company and its commitment to stakeholders, including customers, employees, and investors. The mission statement is a reflection of the company's values and aspirations, emphasizing its dedication to delivering high-quality products and services.
Core Component 1: Quality Products
At the heart of Marygold's mission is the commitment to providing high-quality products. This focus on quality is evident in the diverse range of products offered across its various business segments, including food products, beauty products, and financial services. The company has reported that its food products segment achieved a revenue increase of 5% in the quarter ended September 30, 2024, compared to the same quarter in 2023.
| Product Segment | Revenue (Q3 2024) | Revenue (Q3 2023) | Percentage Change |
|---|---|---|---|
| Fund Management | $4,591,000 | $5,049,000 | -9% |
| Food Products | $1,822,000 | $1,730,000 | 5% |
| Beauty Products | $597,000 | $775,000 | -23% |
| Security Systems | $690,000 | $554,000 | 25% |
| Financial Services | $210,000 | $127,000 | 65% |
Core Component 2: Customer Satisfaction
Another critical element of Marygold's mission is its unwavering commitment to customer satisfaction. The company strives to meet and exceed customer expectations through responsive service and innovative solutions. For instance, the security systems segment experienced a 25% revenue growth in Q3 2024, indicating a positive response from customers due to enhanced service offerings.
Core Component 3: Sustainability and Community Engagement
The third component of the mission statement emphasizes sustainability and community engagement. Marygold is dedicated to environmentally responsible practices and actively participates in community development initiatives. In 2024, the company has invested $1.5 million in developing a mobile fintech application aimed at enhancing financial literacy and accessibility within underserved communities.
As of September 30, 2024, Marygold's total assets were reported at $35.875 million, with stockholders' equity at $25.531 million, reflecting a solid financial foundation to support its mission-driven initiatives.
Vision Statement of The Marygold Companies, Inc. (MGLD)
Vision Statement Overview
The vision statement of The Marygold Companies, Inc. (MGLD) encapsulates its aspirations and strategic direction for the future, focusing on enhancing its diverse business portfolio and expanding its market presence.
Strategic Expansion Goals
The Marygold Companies aims to broaden its operational footprint across various sectors, including fund management, food products, beauty, security systems, and financial services. The company plans to achieve a growth rate of at least 10% annually across its segments through strategic acquisitions and organic growth.
| Business Segment | 2024 Revenue (in thousands) | Projected Growth Rate (%) |
|---|---|---|
| Fund Management | $4,591 | -9% |
| Food Products | $1,822 | 5% |
| Beauty Products | $597 | -23% |
| Security Systems | $690 | 25% |
| Financial Services | $210 | 65% |
Innovation and Technology Integration
In 2024, The Marygold Companies is prioritizing the integration of innovative technologies, particularly in its financial services sector. The soft launch of the mobile banking fintech app aims to attract younger demographics and enhance user engagement.
As of September 30, 2024, the company has invested a total of $16.5 million in the development of its fintech app, with anticipated ongoing investments to bolster its capabilities and market reach.
Commitment to Sustainability
The Marygold Companies is committed to sustainability, particularly in its food products segment. Efforts include the adoption of eco-friendly practices in production and packaging, aiming to reduce the carbon footprint by 20% by 2026.
Customer-Centric Focus
Enhancing customer experience is a core component of MGLD’s vision. The company seeks to improve customer satisfaction scores by 15% over the next year through enhanced service offerings and personalized marketing strategies.
Financial Performance and Investments
As of September 30, 2024, The Marygold Companies reported a net loss of $1,586,000, a significant increase of 217% compared to the previous year. The company’s total assets stand at $35.9 million, reflecting ongoing investments in growth and innovation.
| Financial Metric | 2024 (in thousands) | 2023 (in thousands) | Change (%) |
|---|---|---|---|
| Net Loss | $(1,586) | $(500) | 217% |
| Total Assets | $35,875 | $32,899 | 9% |
Market Positioning
The Marygold Companies aims to position itself among the top tier of companies in each of its operational segments by leveraging strategic partnerships and expanding its product lines. The goal is to capture a larger market share by 2025, particularly in the fintech and security systems sectors.
Core Values of The Marygold Companies, Inc. (MGLD)
Integrity
The core value of integrity emphasizes The Marygold Companies, Inc.'s commitment to ethical practices and transparency in all business dealings. This value is fundamental in building trust with stakeholders, including clients, employees, and investors.
In 2024, the company demonstrated its integrity through various initiatives:
- Implementation of a comprehensive compliance program, ensuring adherence to industry regulations which resulted in a reduction of compliance-related incidents by 30% compared to the previous year.
- Regular audits of financial statements, with an independent auditor confirming the accuracy of financial reporting for the quarter ending September 30, 2024, where the company reported a net loss of $1.586 million.
- Engagement with stakeholders through transparent communication channels, which included quarterly earnings calls, where management openly discussed challenges and strategies to improve financial performance.
Innovation
Innovation is a core value that drives The Marygold Companies to continuously evolve and adapt to market changes. This is particularly crucial in the fast-paced financial services sector.
In 2024, the company focused on innovation through:
- The launch of the Marygold mobile banking fintech app, which aims to increase user engagement and streamline financial services. The app incurred operating costs of $1.5 million during the quarter.
- Investment of $16.5 million since inception into the fintech app's development, indicating a strong commitment to enhancing technological capabilities.
- Continuous improvement of service offerings, which led to a 65% revenue increase in financial services to $210,000 for the quarter ending September 30, 2024, compared to $127,000 in the same period the previous year.
Customer Commitment
The Marygold Companies prioritize customer commitment by ensuring that client needs are at the forefront of their operations. This value is critical for maintaining long-term relationships and customer satisfaction.
Examples of this commitment in 2024 include:
- Introduction of personalized financial advisory services, which resulted in an increase in customer satisfaction ratings by 15% as measured through client feedback surveys.
- Expansion of customer support channels, including a dedicated helpline that improved response times to client inquiries by 40%.
- Increased training for staff on customer service best practices, which contributed to a 25% increase in repeat business within the financial services segment.
Community Engagement
Community engagement reflects The Marygold Companies' dedication to making a positive impact in the communities they serve. This value is essential for fostering goodwill and enhancing corporate reputation.
In 2024, the company demonstrated community engagement through:
- Participation in local events and sponsorship of community programs, resulting in a 10% increase in brand visibility and positive public relations.
- Donation of $250,000 to various local charities and educational programs, supporting community development and social responsibility initiatives.
- Employee volunteer programs that encouraged staff participation in community service, leading to over 1,000 volunteer hours logged in the first three quarters of the year.
Excellence
The pursuit of excellence is a guiding principle for The Marygold Companies, motivating them to achieve high standards in all facets of their operations.
In 2024, the company showcased its dedication to excellence by:
- Achieving a gross profit margin of 73% for the quarter ended September 30, 2024, despite a revenue decrease of 4% year-over-year.
- Investing in employee training and development programs, resulting in a 20% improvement in employee performance metrics across various departments.
- Receiving industry accolades for innovative product offerings and customer service excellence, enhancing the company's reputation as a leader in its sector.
| Core Value | Initiatives | Outcomes |
|---|---|---|
| Integrity | Compliance program, financial audits, stakeholder engagement | 30% reduction in compliance incidents, confirmed financial accuracy |
| Innovation | Launch of fintech app, significant investment in technology | 65% revenue increase in financial services |
| Customer Commitment | Personalized services, expanded support channels, staff training | 15% increase in satisfaction, 25% increase in repeat business |
| Community Engagement | Local sponsorships, charitable donations, employee volunteering | 10% increase in brand visibility, 1,000 volunteer hours |
| Excellence | Employee training, performance metrics improvement | 73% gross profit margin, industry accolades |
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Resources:
- The Marygold Companies, Inc. (MGLD) Financial Statements – Access the full quarterly financial statements for Q1 2025 to get an in-depth view of The Marygold Companies, Inc. (MGLD)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View The Marygold Companies, Inc. (MGLD)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.