A-Mark Precious Metals Reports 35.6% Revenue Growth, Net Loss in Q1 FY 2026

A-Mark Precious Metals, Inc. reported significant financial results for the first quarter of fiscal year 2026, ending September 30, 2025, with total revenues reaching $3.68 billion, a 35.6% increase from $2.72 billion in the same period last year. The company's gross profit also saw a substantial rise, increasing by 67.8% to $72.9 million, compared to $43.4 million in the prior year. However, the company experienced a net loss of $939,000, a stark contrast to the net income of $8.98 million reported in the previous year, primarily due to increased selling, general, and administrative expenses, which surged by 124.8% to $59.8 million.

The increase in revenue was attributed to higher sales volumes and average selling prices for gold and silver, despite a notable decline in silver ounces sold, which dropped by 49.2% to 10.39 million ounces. Gold ounces sold increased by 10.3% to 439,000 ounces. The company’s performance was bolstered by recent acquisitions, including Spectrum Group International and Pinehurst, which contributed to the revenue growth. The Direct-to-Consumer segment saw revenues rise by 77% to $863.9 million, driven by an increase in customer counts and average order values.

Operationally, A-Mark reported a total of 424 secured loans at the end of the quarter, a decrease of 24.6% from the previous year. The company’s secured loans receivable increased to $103.6 million, up from $94.0 million, reflecting a strategic focus on lending activities. The company also reported a significant increase in its inventory, which totaled $1.22 billion, although this was down from $1.28 billion at the end of the previous fiscal year.

Looking ahead, A-Mark is optimistic about its growth trajectory, particularly with the recent acquisition of Monex Deposit Company, which is expected to enhance its market position. The company plans to continue leveraging its integrated operations across trading, e-commerce, and secured lending to drive future growth. Additionally, A-Mark announced a quarterly cash dividend of $0.20 per share, reflecting its commitment to returning value to shareholders. The company is also preparing for a name change to Gold.com, Inc. and a transfer of its stock listing to the New York Stock Exchange, which is anticipated to further enhance its visibility and market presence.