EL SEGUNDO, Calif., April 16, 2025 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, will hold a conference call on Wednesday, May 7, 2025 at 4:30 p.m. Eastern time to discuss results for the fiscal third quarter ended March 31, 2025. Financial results will be issued in a press release prior to the call. A-Mark management will host the presentation, followed by a question-and-answer period. A-Mark’s conference call can be accessed ...

PHILADELPHIA, April 16, 2025 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating the recently announced proposed merger between A-Mark Precious Metals, Inc. (NASDAQ: AMRK) ("A-Mark") and Spectrum Group International, Inc. ("Spectrum") to determine whether the proposed merger as currently structured is fair to A-Mark investors. Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional in ...

Approves Three-Year Contract Extensions for President Thor Gjerdrum and Chief Operating Officer Brian AquilinoEL SEGUNDO, Calif., April 14, 2025 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that its Board of Directors has appointed Cary Dickson as Chief Financial Officer effective July 1, 2025. Mr. Dickson, who previously served as the company’s CFO from November 2015 through September 2019, will re-join A-Mark ...

EL SEGUNDO, Calif., April 04, 2025 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (NASDAQ: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share, maintaining the company's current dividend program. The dividend is payable on April 29, 2025, to stockholders of record as of April 15, 2025. On April 1, 2025, A-Mark completed the acquisition of the 90% of AMS Holding, LLC (AMS) not previously ...

Core Viewpoint - A-Mark Precious Metals, Inc. has declared a quarterly cash dividend of $0.20 per share and completed the acquisition of 90% of AMS Holding, LLC, enhancing its position in the precious metals market [1][2]. Company Overview - A-Mark Precious Metals, Inc. is a fully integrated precious metals platform founded in 1965, offering a variety of bullion and numismatic products through wholesale and retail channels [3]. - The company operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending [3]. Recent Developments - A-Mark announced a quarterly cash dividend of $0.20 per share, maintaining its current dividend program, payable on April 29, 2025 [1]. - The acquisition of AMS Holding, LLC, which generated total revenue of $203.8 million and adjusted EBITDA of $9.3 million in 2024, strengthens A-Mark's market presence [2]. Business Segments - The Wholesale Sales & Ancillary Services segment purchases and distributes precious metal products from various mints, including the U.S. Mint, and sells over 200 different products to various customers [4]. - The Direct-to-Consumer segment operates multiple online platforms and brands, including JM Bullion and Goldline, targeting different niches within the precious metals market [8]. - The Secured Lending segment, through Collateral Finance Corporation, provides loans secured by bullion and numismatic coins to dealers and collectors [9]. Subsidiaries and Operations - A-Mark's subsidiary, Stack's Bowers Galleries, is involved in rare coin and currency auctions, while Pinehurst Coin Exchange operates as a broker for precious metals [5]. - A-Mark's logistics subsidiary offers managed storage and secure handling of precious metals, enhancing customer service [7].

Core Viewpoint - Kaskela Law LLC is investigating the proposed merger between A-Mark Precious Metals, Inc. and Spectrum Group International, Inc. to assess its fairness to A-Mark investors [1]. Group 1: Merger Details - A-Mark announced on February 3, 2025, that it will acquire 100% of Spectrum's stock in a transaction valued at $92 million [2]. - The acquisition will be financed using 50% cash and 50% A-Mark common stock [2]. Group 2: Legal Investigation - The investigation aims to determine if A-Mark's officers and/or directors violated securities laws in the merger agreement and if all material information regarding the transaction is disclosed to investors [3]. - A-Mark shareholders are encouraged to contact Kaskela Law LLC for more information about their legal rights and options [4].

Core Viewpoint - A-Mark Precious Metals, Inc. is expanding its presence in the collectible coin market through strategic acquisitions, which are expected to enhance gross margins and attract new customers during periods of low bullion volatility [1][13]. Group 1: Acquisition Details - A-Mark acquired 100% of Spectrum Group International, Inc. (SGI) for $92.0 million, consisting of $46.0 million in cash and $46.0 million in A-Mark stock valued at $27.51 per share [2][12]. - The company agreed to pay $50.0 million in cash for the remaining 90% of AMS Holding, LLC (AMS), with potential additional payments based on performance benchmarks [3][12]. - A-Mark paid $6.5 million in cash to acquire 51% of Pinehurst Coin Exchange, Inc. and may pay up to an additional $5.3 million based on performance [4][12]. Group 2: Company Overviews - AMS has a strong sales and marketing engine with over 500,000 customers, generating total revenue of $203.8 million and adjusted EBITDA of $9.3 million for the year ended December 31, 2024 [7][12]. - Pinehurst generated approximately 35% of its revenue from retail activities, with total revenue of $215.8 million and EBITDA of $7.7 million for the year ended December 31, 2024 [10][12]. - A-Mark's subsidiary LPM Group Limited is a leading precious metals dealer in Asia, expanding its operations to Singapore [5][20]. Group 3: Strategic Importance - The acquisitions of AMS and Pinehurst are aligned with A-Mark's vision to penetrate the luxury market and integrate several hundred thousand new customers into its ecosystem [13][14]. - The acquired businesses are expected to benefit from A-Mark's global sourcing network and logistics platform, enhancing their operational capabilities [13][14]. - A-Mark's CEO emphasized the potential for accretive earnings from these acquisitions, particularly during periods of limited bullion market volatility [13][14].

Core Points - Kaskela Law LLC is investigating A-Mark Precious Metals, Inc. on behalf of the company's shareholders [1] - A-Mark announced an agreement to acquire 100% of Spectrum Group International, Inc. for a total transaction value of $92 million, intending to finance it with 50% cash and 50% common stock [2] - The investigation aims to determine if A-Mark's officers and/or directors violated securities laws regarding the acquisition and if all material information about the transaction is properly disclosed to investors [3] Company Information - A-Mark Precious Metals, Inc. is involved in a significant acquisition of Spectrum Group International, Inc. valued at $92 million [2] - The financing structure for the acquisition includes 50% cash and 50% common stock, indicating a balanced approach to funding [2] Legal Context - The investigation by Kaskela Law LLC focuses on potential violations of securities laws by A-Mark's leadership in relation to the acquisition [3] - Shareholders are encouraged to seek information regarding their legal rights and options related to the investigation [4]

Group 1 - A-Mark Precious Metals, Inc. (NASDAQ: AMRK) is highlighted for the first time since April of the previous year, indicating renewed interest in the stock [2] - The stock has experienced a positive price movement following the initial article, suggesting favorable market conditions or investor sentiment [2] - The Insiders Forum focuses on small and mid-cap stocks with significant insider purchases, aiming to outperform the Russell 2000 benchmark over time [2] Group 2 - The Insiders Forum portfolio consists of 12-25 top stocks across various sectors that are attractively valued [2] - The portfolio has successfully doubled the return of its benchmark, the Russell 2000, since its launch [1]

Financial Performance - The Company reported revenues of $9.7 billion for the fiscal year 2024, indicating significant growth in its operations [300]. - Revenues for the three months ended December 31, 2024, were $2,742,345, representing a 31.9% increase from $2,078,815 in 2023 [328]. - Revenues for the six months ended December 31, 2024 increased by $894.0 million, or 19.6%, to $5.457 billion from $4.563 billion in 2023 [340]. - Revenues for the three months ended December 31, 2024 increased by $465.2 million, or 27.2%, to $2.173 billion from $1.708 billion in 2023 [379]. - Revenues for the six months ended December 31, 2024 increased by $533.1 million, or 13.8%, to $4.400 billion from $3.867 billion in 2023 [384]. - Revenues for the Direct-to-Consumer segment increased by 51.8% to $1,057,112,000 for the six months ended December 31, 2024, compared to $696,177,000 in 2023 [411]. - Revenues for the three months ended December 31, 2024 increased by $198.4 million, or 53.5%, to $569.0 million from $370.6 million in 2023 [417]. Profitability - Gross profit decreased to $44,767, or 1.632% of revenue, down from $46,041, or 2.215% of revenue, reflecting a 2.8% decline [328]. - Gross profit for the six months ended December 31, 2024 decreased by $7.2 million, or 7.6%, to $88.2 million from $95.4 million in 2023 [346]. - Gross profit for the three months ended December 31, 2024 decreased by $4.2 million, or 17.4%, to $19.7 million from $23.9 million in 2023, primarily due to lower premium spreads and trading profits [388]. - For the six months ended December 31, 2024, gross profit decreased by $12.5 million, or 23.9%, to $39.7 million from $52.2 million in 2023, attributed to lower premium spreads and trading profits [391]. - The overall gross margin percentage for the six months ended December 31, 2024 decreased by 47.6 basis points to 1.616% from 2.092% in 2023 [347]. - The gross margin percentage for the three months ended December 31, 2024 decreased by 49.0 basis points to 0.908% from 1.398% in 2023 [388]. - The gross margin percentage for the six months ended December 31, 2024 decreased by 73.6 basis points to 1.798% from 2.534% in the prior year [392]. Net Income - Net income attributable to the Company fell by 52.4% to $6,558 compared to $13,766 in the prior year [328]. - Net income attributable to the Company for the six months ended December 31, 2024 was $15.542 million, a decrease of $17.051 million or 52.3% compared to $32.593 million in 2023 [332]. - Net income before provision for income taxes decreased by 21.1% to $11,195,000 for the six months ended December 31, 2024, down from $14,193,000 in 2023 [411]. - Net income for the six months ended December 31, 2024, was $14,392, a decrease of $18,552 or 56.3% compared to $32,944 in 2023 [465]. Customer Metrics - The number of new customers grew by 31.8% to 120,700 in the six months ended December 31, 2024, compared to 91,600 in 2023 [411]. - The total number of customers reached 3,187,500, a 30.6% increase from 2,439,900 in 2023 [411]. - The number of new customers increased by 12,900, or 24.6%, to 65,400, and the total number of customers increased by 747,600, or 30.6%, to 3,187,500 [421]. - The number of active customers increased by 27,200, or 11.2%, to 270,000 from 242,800 in 2023 [428]. Sales Volume - The number of gold ounces sold increased by 3.6% to 466,000, while silver ounces sold decreased by 17.9% to 21,828,000 [329]. - Gold ounces sold for the six months ended December 31, 2024 decreased by 81,000 ounces, or 8.6%, to 864,000 ounces from 945,000 ounces in 2023 [341]. - Silver ounces sold for the six months ended December 31, 2024 decreased by 14,676,000 ounces, or 25.8%, to 42,277,000 ounces from 56,953,000 ounces in 2023 [341]. - Gold ounces sold for the three months ended December 31, 2024 increased by 12,000 ounces, or 3.6%, to 346,000 ounces from 334,000 ounces in 2023 [380]. - Silver ounces sold for the three months ended December 31, 2024 decreased by 5,399,000 ounces, or 23.7%, to 17,410,000 ounces from 22,809,000 ounces in 2023 [380]. - Gold ounces sold for the six months ended December 31, 2024 decreased by 94,000 ounces, or 13.2%, to 618,000 ounces from 712,000 ounces in 2023 [385]. - Silver ounces sold for the six months ended December 31, 2024 decreased by 16,796,000 ounces, or 33.5%, to 33,370,000 ounces from 50,166,000 ounces in 2023 [385]. Expenses - Selling, general, and administrative expenses for the three months ended December 31, 2024 increased by $3.4 million, or 15.0%, to $25.8 million from $22.4 million in 2023 [349]. - Selling, general, and administrative expenses for the six months ended December 31, 2024 increased by $8.1 million, or 18.4%, to $52.4 million from $44.2 million in 2023 [350]. - Selling, general, and administrative expenses for the three months ended December 31, 2024 increased by $0.8 million, or 7.9%, to $11.4 million from $10.6 million in 2023 [393]. - Selling, general, and administrative expenses for the six months ended December 31, 2024 increased by $5.3 million, or 23.9%, to $27.6 million from $22.3 million in 2023 [438]. Interest Income and Expense - Interest income increased by 7.7% to $6,794, while interest expense rose by 1.9% to $10,363 [328]. - Interest income for the six months ended December 31, 2024 was $13.881 million, an increase of $1.468 million or 11.8% compared to $12.413 million in 2023 [332]. - Interest income for the three months ended December 31, 2024 increased by $0.6 million, or 15.4%, to $4.1 million from $3.6 million in 2023 [397]. - Interest expense for the three months ended December 31, 2024 increased by $1.1 million, or 16.0%, to $8.1 million from $7.0 million in 2023, primarily due to increased borrowings [399]. - Interest expense for the six months ended December 31, 2024 increased by $0.4 million, or 1.8%, to $20.4 million from $20.0 million in 2023 [359]. - Interest expense for the six months ended December 31, 2024 decreased by $0.7 million, or 37.7%, to $1.2 million from $1.9 million in 2023 [442]. Inventory and Turnover - The inventory turnover ratio improved to 2.2, up 15.8% from 1.9 [329]. - The inventory turnover ratio for the six months ended December 31, 2024 increased by 9.3% to 4.7 from 4.3 in 2023 [348]. Strategic Initiatives - The Company acquired LPM, one of Asia's largest precious metals dealers, in February 2024, enhancing its global reach [287]. - The Company focuses on growth through strategic acquisitions and expanding its geographic presence and product offerings [300]. - The Company operates in three reportable segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending [280]. Market Conditions - The Company operates in a high volume/low margin industry, with revenues significantly impacted by product volume, market prices, and market volatility [308]. - The Company utilizes forward contracts for selling precious metals, which are included in revenues, impacting revenue recognition significantly [306]. Non-GAAP Measures - The Company utilizes non-GAAP measures such as adjusted net income before provision for income taxes and EBITDA to evaluate financial performance [323]. - Adjusted net income before provision for income taxes for the three months ended December 31, 2024 was $13.4 million, a decrease of $8.4 million or 38.5% from $21.7 million in 2023 [456]. - Adjusted net income before provision for income taxes for the six months ended December 31, 2024 was $28.1 million, a decrease of $20.4 million or 42.0% from $48.5 million in 2023 [456]. Cash Flow - Net cash provided by operating activities for the three months ended December 31, 2024 was $110.1 million, an increase of $167.5 million or 291.7% from $(57.4) million in 2023 [463]. - Net cash used in operating activities improved significantly, decreasing by $84,209 or 82.8%, from $(101,667) in 2023 to $(17,458) in 2024 [465]. Assets and Liabilities - As of December 31, 2024, approximately 79% of the company's assets were liquid, including cash and receivables [467]. - The Trading Credit Facility provides access to $422.5 million, with a maturity date of September 30, 2026 [471]. - Product financing arrangements increased by $34,193, from $517,744 in June 2024 to $551,937 in December 2024 [475]. - Liabilities on borrowed metals rose by $1,895, from $31,993 in June 2024 to $33,888 in December 2024 [474].