A-Mark Precious Metals Inc
NASDAQ:AMRK
A-Mark Precious Metals Inc
A-Mark Precious Metals, Inc. engages in the trading of precious metals. The company is headquartered in El Segundo, California and currently employs 351 full-time employees. The company went IPO on 2014-03-17. The firm operates through three segments: Wholesale Sales & Ancillary Services, Secured Lending and Direct-to-Consumer. The Wholesale Sales & Ancillary Services segment operates as a full-service precious metals company. The products sold within this segment include gold, silver, platinum, and palladium mainly in the form of coins, rounds, bars, wafers and grain. The firm operates Secured Lending segment through its wholly owned subsidiary, Collateral Finance Corporation (CFC). Direct to customer segment operate through its wholly owned subsidiaries JM Bullion, Inc. (JMB), Goldline, Inc. (Goldline) and others.
A-Mark Precious Metals, Inc. engages in the trading of precious metals. The company is headquartered in El Segundo, California and currently employs 351 full-time employees. The company went IPO on 2014-03-17. The firm operates through three segments: Wholesale Sales & Ancillary Services, Secured Lending and Direct-to-Consumer. The Wholesale Sales & Ancillary Services segment operates as a full-service precious metals company. The products sold within this segment include gold, silver, platinum, and palladium mainly in the form of coins, rounds, bars, wafers and grain. The firm operates Secured Lending segment through its wholly owned subsidiary, Collateral Finance Corporation (CFC). Direct to customer segment operate through its wholly owned subsidiaries JM Bullion, Inc. (JMB), Goldline, Inc. (Goldline) and others.
Massive Revenue Growth: Gold.com reported Q2 revenue of $6.5 billion, up 136% year-over-year, driven by higher gold prices, increased gold sales, and recent acquisitions.
Tether Investment: Tether agreed to invest up to $150 million in Gold.com, become a storage customer, and provide a $100 million gold lease facility, strengthening Gold.com's liquidity.
Margin Expansion Expected: Premium spreads have widened in Q3, and management expects a very strong current quarter, reversing trading headwinds from Q2.
Acquisition Completed: Gold.com closed its acquisition of Monex Deposit Company, strengthening its customer base and storage capabilities.
Customer Growth: Direct-to-consumer new customers grew 47% YoY in Q2 and total DTC customers reached 4.4 million, up 37% YoY.
Production Ramp-Up: Gold.com significantly increased minting and fulfillment capacity, shipping over 120,000 packages in both December and January.
Silver Market Volatility: Silver sales volumes rebounded sharply quarter-over-quarter, and management noted high demand with rising premiums and increased market volatility.
