US Global Investors Inc reported QQ1 2025 revenue of $2.157 million, down 31.15% year over year and 11.60% quarter over quarter. Gross profit stood at $1.076 million yielding a gross margin near 49.9%, while operating income was negative $0.559 million, reflecting ongoing fixed cost exposure relative to a modest revenue base. EBITDA was $0.459 million, and net income was $0.315 million, with earnings per share of $0.023. The company generated positive operating cash flow of $0.016 million and reported free cash flow of $0.016 million, underscoring limited operating leverage at the quarter level. A notable feature of the quarter is the contribution of total other income of $0.995 million, which more than offset operating losses and supported net earnings. The balance sheet remains highly liquid with cash and cash equivalents of $27.336 million and short-term investments of $9.713 million, producing a net cash position of approximately $(27.303) million. Total assets were $51.084 million against $2.717 million in total liabilities and $48.367 million in stockholders’ equity, signaling robust solvency and equity backing for shareholder-friendly actions. Looking ahead, the near-term earnings trajectory will hinge on sustainable fee-related revenue, asset inflows, and the ability to translate scale into operating leverage; management commentary (if provided in the call) would be pivotal to confirm guidance and strategic priorities.