UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-36347 A-MARK PRECIOUS METALS, INC. (Exact name of registrant as specified in its charter) Delaware (State of Incorpo ...

Financial Performance - Revenues for the three months ended September 30, 2024, increased 9% to $2.72 billion from $2.48 billion for the same period in 2023[10] - Gross profit for the three months ended September 30, 2024, decreased 12% to $43.4 million from $49.4 million for the same period in 2023[10] - Net income attributable to the Company for the three months ended September 30, 2024, decreased 52% to $9.0 million from $18.8 million for the same period in 2023[10] - Diluted earnings per share totaled $0.37 for the three months ended September 30, 2024, a 52% decrease compared to $0.77 for the same period in 2023[10] - Adjusted net income before provision for income taxes for the three months ended September 30, 2024, decreased 45% to $14.8 million from $26.8 million for the same period in 2023[10] - EBITDA for the three months ended September 30, 2024, decreased 42% to $17.8 million from $30.4 million for the same period in 2023[10] - Revenues increased 9% to $2.72 billion from $2.48 billion in the same year-ago quarter, with a $217.4 million increase in forward sales[15] - Gross profit decreased 12% to $43.4 million, representing 1.60% of revenue, down from $49.4 million or 1.99% of revenue year-over-year[17] - Net income attributable to the Company totaled $9.0 million or $0.37 per diluted share, compared to $18.8 million or $0.77 per diluted share in the same year-ago quarter[23] - Adjusted net income before provision for income taxes decreased 45% to $14.8 million from $26.8 million year-over-year[24] - Net income for the three months ended September 30, 2024, was $8,418, a decrease of 55.7% compared to $18,983 in the same period of 2023[45] - Basic and diluted net income per share decreased by 51.9%, with basic earnings at $0.39 and diluted earnings at $0.37 for Q3 2024, compared to $0.81 and $0.77 respectively in Q3 2023[45][46] - Earnings before interest, taxes, depreciation, and amortization (non-GAAP) fell to $17,782, down $12,666 or 41.6% from $30,448 in the previous year[51] Sales Performance - Gold ounces sold for the three months ended September 30, 2024, were 398,000, down from 495,000 for the same period in 2023[11] - Silver ounces sold for the three months ended September 30, 2024, were 20,449,000, down from 30,378,000 for the same period in 2023[11] - Gold ounces sold decreased 20% to 398,000 ounces from 495,000 ounces for the same period last year, and decreased 11% from 448,000 ounces for the previous quarter[13] - Silver ounces sold decreased 33% to 20.4 million ounces from 30.4 million ounces year-over-year, and decreased 20% from 25.4 million ounces quarter-over-quarter[13] Operational Metrics - The number of secured loans at period end decreased to 562 from 803 for the same period in 2023[11] - The number of secured loans decreased 30% to 562 from 803 year-over-year, and decreased 4% from 588 quarter-over-quarter[13] - Direct-to-Consumer new customers increased 41% to 55,300 from 39,100 year-over-year, but decreased 90% from 570,300 quarter-over-quarter[14] - Direct-to-Consumer average order value increased 22% to $2,967 from $2,440 year-over-year, and increased 3% from $2,890 quarter-over-quarter[14] Expenses and Liabilities - Selling, general and administrative expenses increased 22% to $26.6 million from $21.8 million year-over-year[18] - Total liabilities increased to $1,364,300 as of September 30, 2024, compared to $1,165,964 as of June 30, 2024, reflecting a rise of 17.0%[41] - Depreciation and amortization expense rose significantly by 68.7% to $4,709 in Q3 2024 from $2,792 in Q3 2023[46] - Amortization of acquired intangibles increased to $3,864, up $1,699 or 78.5% from $2,165 in the previous year[50] Cash Flow and Assets - Net cash used in operating activities was $(127,529) for Q3 2024, compared to $(44,262) in Q3 2023[43] - Net cash provided by financing activities was $110,336 in Q3 2024, a significant increase from $53,617 in Q3 2023[43] - Cash at the end of the period was $46,924 for Q3 2024, down from $48,245 at the end of Q3 2023[43] - Total current assets increased to $1,645,542 as of September 30, 2024, compared to $1,442,203 as of June 30, 2024, representing a growth of 14.1%[41] - Total assets reached $2,029,017 as of September 30, 2024, up from $1,827,820 as of June 30, 2024, indicating an increase of 11.0%[41] - The company reported a significant increase in inventories, which rose to $735,555 as of September 30, 2024, from $579,400 as of June 30, 2024, marking a 27.0% increase[41] - The company’s secured loans receivable decreased to $101,887 as of September 30, 2024, from $113,067 as of June 30, 2024, a decline of 9.9%[41] Adjusted Metrics - Net income before provision for income taxes decreased to $10,173, a decline of $13,762 or 57.5% compared to $23,935 in the same period last year[50] - Adjusted net income before provision for income taxes (non-GAAP) was $14,784, down $11,995 or 44.8% from $26,779 in the prior year[50] - The adjusted net income before provision for income taxes (non-GAAP) for the three months ended September 30, 2024, was $14,784, down $5,360 or 26.6% from $20,144 in the previous quarter[53] - Changes in operating working capital improved to $142,317, an increase of $77,190 or 118.5% from $65,127 in the prior year[51] - Interest income for Q3 2024 was $7,087, up from $6,102 in Q3 2023, representing a growth of 16.1%[42] - Interest income increased by 16.1% to $7,087 in Q3 2024, compared to $6,102 in Q3 2023[46]

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Q1 2025 Earnings Conference Call November 6, 2024 4:30 PM ET Company Participants Gregory Roberts - Chief Executive Officer Kathleen Simpson-Taylor - Chief Financial Officer Thor Gjerdrum - President Conference Call Participants Thomas Forte - Maxim Group LLC Michael Baker - D.A. Davidson & Co. Fedor Shabalin - B. Riley Financial, Inc. Greg Gibas - Northland Securities, Inc. Operator Good afternoon, and welcome to the A-Mark Precious Metals Conference call for the ...

A-Mark Precious Metals (AMRK) came out with quarterly earnings of $0.61 per share, missing the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -37.76%. A quarter ago, it was expected that this precious metals trading company would post earnings of $1.44 per share when it actually produced earnings of $0.85, delivering a surprise of -40.97%.Over the ...

EL SEGUNDO, Calif., Oct. 16, 2024 (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, November 6, 2024 at 4:30 p.m. Eastern time to discuss results for the fiscal first quarter ended September 30, 2024. 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 a ...

EL SEGUNDO, Calif., Oct. 14, 2024 (GLOBE NEWSWIRE) -- A-Mark Precious Metals, Inc. (Nasdaq: AMRK) (A-Mark), a leading fully integrated precious metals platform, today announced that its wholly owned subsidiary Silver Towne Mint, operated through AM&ST Associates, LLC, has acquired substantially all of the assets of Regency Mint Manufacturing, LLC (Regency Mint), for $2 million. Regency Mint, a 25-year old family-owned and operated business located in Orem, Utah, is an ISO 9001:2015 certified mint that sells ...

Nationally ranked stock picker for 30 years. Victory Formation and Bottom Fishing Club quant-sort pioneer.....Paul Franke is a private investor and speculator with 38 years of trading experience. Mr. Franke was Editor and Publisher of the Maverick Investor® newsletter during the 1990s, widely quoted by CNBC®, Barron’s®, the Washington Post® and Investor’s Business Daily®. Paul was consistently ranked among top investment advisors nationally for stock market and commodity macro views by Timer Digest® during ...

Financial Dependence and Liquidity - The Trading Credit Facility has a total current revolving commitment of up to $422.5 million, with a termination date of September 20, 2025, providing liquidity for buying and selling billions of dollars of precious metals annually [41]. - The company is heavily dependent on its credit facility, and failure to renew or replace it could limit business operations and growth [41]. - The company’s liquidity constraints may limit its ability to grow and implement expansion strategies, including acquisitions [45]. Operational Risks - The company’s operations are subject to fluctuations in commodity prices, which can significantly affect results from period to period [38]. - The company has multiple sources for obtaining bullion products, but supply chain disruptions could adversely impact operations and sales [46]. - The company relies on computer systems for executing trades and conducting e-commerce, and interruptions could significantly impact operations [48]. - The company holds significant quantities of precious metals, which are subject to risks of loss, damage, or theft [58]. - The company’s AMST subsidiary is dependent on critical equipment, which may face interruptions due to maintenance or unforeseen events [56]. Market Competition - The company’s direct-to-consumer segment faces intense competition from other online retailers and traditional coin stores [38]. - The precious metals market is highly competitive, with the company competing against firms with greater resources and name recognition [55]. - The Direct-to-Consumer segment operates in a highly competitive environment with significant competition from specialty online precious metal sites and traditional retail brokers [61]. - JMB's search engine optimization strategies have provided a competitive advantage, but ongoing challenges in SEO may impact customer traffic and market share [61]. Regulatory and Compliance Challenges - Recent California legislation requires the company to disclose climate-related financial risks, which may entail significant time and expense [74]. - The company is subject to SB 253, requiring reporting of Scope 1 and Scope 2 greenhouse gas emissions starting in 2026, and Scope 3 emissions beginning in 2027 [75]. - Non-compliance with SB 261 could result in fines of up to $50,000 per reporting year, with public disclosure of climate-related financial risks mandated starting January 1, 2026 [75]. - The SEC's final rules require the company to disclose Scope 1 and Scope 2 greenhouse gas emissions, but not Scope 3 emissions, and to obtain independent attestation reports [76]. - The company may be subject to the European Corporate Sustainability Reporting Directive (CSRD) due to its operations in Europe, which became effective in 2023 [77]. - Compliance with evolving data protection laws, including the GDPR, may increase costs and expose the company to penalties of up to 4% of worldwide turnover or €20 million [80]. - The California Consumer Privacy Act (CCPA) allows civil penalties of up to $7,500 per violation, with compliance measures required to protect consumer data [81]. - New privacy laws in states like Colorado, Virginia, and Utah may impose additional costs and legal fees as they take effect between 2023 and 2026 [81]. - The company is required to comply with various federal and state laws, including the Foreign Corrupt Practices Act and anti-money laundering regulations [83]. Strategic Initiatives and Growth - The recent acquisition of LPM, a precious metals business in Hong Kong, reflects the company's strategy to expand its presence in Asia [53]. - The company has experienced significant revenue growth during periods of financial market volatility, but profits have retreated from all-time highs, indicating a return to cyclical fluctuations [50][52]. - The company derives a significant portion of its revenues from international operations, which are subject to various political and economic risks [53]. Customer and Sales Dynamics - A concentrated customer base in the Wholesale Sales & Ancillary Services segment poses a risk; losing significant customers could adversely affect the business [57]. - The Direct-to-Consumer Purchase Program allows customers to sell precious coins and bullion back, but there is no assurance that the company can resell these products at a profit, especially in a declining market [63]. - The Direct-to-Consumer segment may face scrutiny over sales practices, particularly concerning Goldline, which has a history of accusations related to improper sales [60]. Financial Performance and Risks - The Company has adopted a quarterly cash dividend policy of $0.20 per common share, amounting to $0.80 annually, with the most recent dividend paid on July 31, 2024 [87]. - Approximately 22% of the outstanding common stock is beneficially owned by the board and management, allowing them to exert substantial influence over shareholder votes [90]. - The Company is exposed to market risk related to fluctuations in commodity prices, particularly in precious metals, and employs hedging strategies to mitigate this risk [223]. - The Company’s profitability is heavily influenced by volatility in commodities prices, with potential adverse effects on trading activity and spreads if prices stagnate [68]. Technology and Cybersecurity - The ability to adapt to technological changes is crucial for maintaining competitiveness in the Direct-to-Consumer segment [62]. - Recent changes in cybersecurity disclosure requirements may increase costs and necessitate reporting of cybersecurity incidents that may not have been deemed material previously [91]. Legal and Intellectual Property Issues - The Company’s intellectual property protection may be insufficient, exposing it to risks from potential infringement claims by third parties [92]. - The Company’s advertising and marketing materials are subject to regulatory scrutiny, which could limit its ability to effectively promote its business [86]. - The Company may face additional costs and risks related to third-party expectations regarding ESG factors, which could impact its reputation and operational results [96]. Interest Rate and Foreign Exchange Risks - The company is exposed to interest rate risk primarily through product financing arrangements and Trading Credit Facility [225]. - The company does not utilize derivative contracts to hedge against interest rate fluctuations [225]. - The company manages interest rate risks by increasing secured loan interest rates and finance product pricing in response to rising interest rates [225]. - The weighted-average effective interest rates on the company's products increased during the year, but only partially mitigated the effects of higher interest rates [225]. - The company does not believe its exposure to foreign exchange risk is material due to recent acquisitions being denominated in U.S. dollars [224]. - The company utilizes foreign currency forward contracts with maturities of generally less than one week to manage foreign currency exchange fluctuations [224].

Exhibit 99.1 A-Mark Precious Metals Reports Preliminary Fiscal Fourth Quarter and Preliminary Full Year 2024 Results $9.7 Billion of Revenues for Full Year 2024 Preliminary Full Year 2024 Diluted Earnings per Share of $2.75 ($2.15 Excluding $14.4 Million Estimated Preliminary Remeasurement Gain) Company Reaffirms Regular Quarterly Cash Dividend of $0.20 per share Credit Facility Amended Increasing Revolving Commitment to $422.5 Million El Segundo, CA – August 29, 2024 – A-Mark Precious Metals, Inc. (NASDAQ: ...

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Q4 2024 Earnings Conference Call August 29, 2024 4:30 PM ET Company Participants Greg Roberts - Chief Executive Officer Thor Gjerdrum - President Kathleen Simpson Taylor - Chief Financial Officer Conference Call Participants Thomas Forte - Maxim Group Andrew Scutt - ROTH Capital Partners Greg Gibas - Northland Securities Sy Jacobs - Jacobs Asset Management Operator Good afternoon. And welcome to A-Mark Precious Metals Conference Call for the Fiscal Fourth Quarter a ...