Financial Data and Key Metrics Changes - Revenues for fiscal Q3 2025 increased 15% to $3,000,000,000 from $2,600,000,000 in the same year-ago quarter, with an 18% increase when excluding forward sales [6][8] - Gross profit for fiscal Q3 2025 increased 18% to $41,000,000, representing 1.36% of revenue, compared to $34,800,000 or 1.33% of revenue in Q3 of last year [8][9] - Net loss attributable to the company for Q3 2025 totaled $8,500,000 or $0.36 loss per diluted share, compared to net income of $5,000,000 or $0.21 per diluted share in Q3 of last year [15] Business Line Data and Key Metrics Changes - The DTC segment contributed 19% of consolidated revenue in fiscal Q3 2025, while JMB's revenue represented 10% of consolidated revenue, down from 12% in the prior year [6][7] - Gross profit from the DTC segment represented 61% of consolidated gross profit in Q3 2025, up from 52% in Q3 2024 [9] - SG&A expenses for fiscal Q3 2025 increased 46% to $33,400,000, primarily due to increased consulting and professional fees [10][11] Market Data and Key Metrics Changes - Gold sales in Q3 2025 were 432,000 ounces, down 3% from the previous year, while silver sales were 15,700,000 ounces, down 39% from the same period [18][19] - The number of new customers in the DTC segment increased significantly, with 899,600 new customers in Q3 2025, up 1489% from the previous year [20] - The average order value in the DTC segment was $3,084, up 45% from Q3 2024 [21] Company Strategy and Development Direction - The company executed three strategic acquisitions during the quarter, enhancing its competitive position and expanding into higher-margin luxury segments [4] - The company is focused on integrating recent acquisitions and driving operational efficiencies to enhance shareholder value [5][17] - The company remains optimistic about long-term growth opportunities in Asian markets across wholesale and e-commerce channels [5] Management's Comments on Operating Environment and Future Outlook - Management noted that market conditions showed modest improvement, and they remain confident in the company's long-term growth trajectory [5] - The management highlighted the impact of tariffs and backwardation on trading losses and interest expenses during the quarter [3][32] - Management expressed optimism about the demand for precious metals as a safe haven during periods of market volatility [40][50] Other Important Information - The company maintained its regular quarterly cash dividend program, with the most recent dividend paid in April 2025 [17] - The company had $114,300,000 in cash at the end of the quarter, up from $48,600,000 at the end of fiscal year 2024 [16] Q&A Session Summary Question: Market activity post-April - Management observed increased activity in early April, with a solid month overall, despite a slight slowdown in the last weeks [24] Question: Progress in the collectible space - Management reported successful integration of SGI and Pinehurst, with strong demand in the collectible market [26] Question: Impact of backwardation on results - Management explained that backwardation affected trading revenue and gross profit significantly during February and March [31] Question: Earnings power in macroeconomic uncertainty - Management noted that earnings power is historically stronger in active silver markets, but gold's recent performance has been favorable [36] Question: Current stance on acquisitions - Management remains open to acquisitions, particularly when market conditions are slow, and sees potential for further growth through M&A [46] Question: Trends post-Liberation Day - Management reported elevated interest and activity across all business segments throughout April [48] Question: Visibility on long-term holders selling inventory - Management indicated that increased selling by long-term holders could impact supply and demand dynamics [54] Question: Financial impact of improvements in Las Vegas facility - Management expressed confidence that automation improvements would lead to higher volumes and efficiencies [58] Question: Thoughts on stock buybacks - Management stated that stock buybacks are considered alongside other capital deployment strategies, but current focus is on integrating recent acquisitions [66]

Financial Performance - For Q3 FY 2025, A-Mark Precious Metals reported a net loss of $8.5 million, compared to a net income of $5.0 million in Q3 FY 2024, representing a 270% decrease [1][44] - Revenues for Q3 FY 2025 increased by 15% to $3.009 billion from $2.611 billion in the same quarter of the previous year [9][38] - Gross profit for Q3 FY 2025 was $41.0 million, an 18% increase from $34.8 million in Q3 FY 2024, with a gross profit margin of 1.36% [9][39] - Adjusted net income before provision for income taxes for Q3 FY 2025 was $5.7 million, a decrease of 51% from $11.6 million in Q3 FY 2024 [45] - EBITDA for Q3 FY 2025 totaled $1.3 million, a significant decrease of 90% compared to $12.6 million in the same year-ago quarter [46] Operational Highlights - The company completed three strategic acquisitions during the quarter, including Pinehurst and Spectrum Group International, which are expected to enhance market position and operational efficiencies [3][4] - Direct-to-Consumer new customers surged by 1,489% to 899,600 in Q3 FY 2025, largely attributed to the acquisitions [28] - Gold ounces sold decreased by 2% to 432,000 ounces in Q3 FY 2025 compared to 446,000 ounces in Q3 FY 2024, while silver ounces sold decreased by 39% to 15.7 million ounces [12][28] Cash and Dividends - The company reaffirmed its regular quarterly cash dividend policy of $0.20 per share, with the latest payment made on April 29, 2025 [56] - A-Mark amended its credit facility, increasing the revolving commitment to $467.0 million, which may provide additional liquidity for future operations [1] Market Conditions - The CEO noted that the company navigated through volatile market conditions in Q3 FY 2025, which impacted results due to decreased market liquidity and increased interest expenses [2] - Despite early-quarter concerns around tariffs, market conditions have since stabilized, positioning the company for potential growth as the fiscal year closes [4]

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 ...

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][3]. Group 1: Merger Details - A-Mark announced on February 3, 2025, that it agreed to 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 acquisition agreement and if all material information regarding the transaction is disclosed to A-Mark's investors [3]. - A-Mark shareholders are encouraged to contact Kaskela Law LLC for more information about their legal rights and options [4].

Core Points - A-Mark Precious Metals, Inc. has appointed Cary Dickson as Chief Financial Officer effective July 1, 2025, after Kathleen Simpson-Taylor's retirement [1][2] - The Board of Directors has extended the contracts of President Thor Gjerdrum and COO Brian Aquilino for an additional three years, through June 30, 2028 [4] Management Changes - Cary Dickson, who previously served as CFO from November 2015 to September 2019, will re-join A-Mark as Executive Vice President on May 2, 2025, before assuming the CFO role [1][2] - Kathleen Simpson-Taylor has been acknowledged for her contributions during her tenure, which saw transformational growth for the company [3] - Dickson expressed excitement about returning to A-Mark and focusing on strategic priorities, including capital efficiency and integration initiatives [3] Company Overview - A-Mark Precious Metals, founded in 1965, is a fully integrated precious metals platform offering a range of products including gold, silver, platinum, palladium, and copper [5] - The company operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending [5][12] - A-Mark has a global customer base that includes mints, manufacturers, refiners, dealers, financial institutions, and retail customers [5] Business Operations - The Wholesale Sales & Ancillary Services segment purchases and distributes precious metal products, including being a U.S. Mint-authorized purchaser since 1986 [6][7] - The Direct-to-Consumer segment operates multiple websites targeting specific niches within the precious metals retail market [11] - A-Mark's Secured Lending segment provides loans secured by bullion and numismatic coins through its subsidiary, Collateral Finance Corporation [12]

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]