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Document and Entity Information - shares | 9 Months Ended | |
---|---|---|
Mar. 31, 2022 | Apr. 28, 2022 | |
Cover [Abstract] | ||
Entity Registrant Name | A-Mark Precious Metals, Inc. | |
Entity Central Index Key | 0001591588 | |
Entity Tax Identification Number | 11-2464169 | |
Entity File Number | 001-36347 | |
Current Fiscal Year End Date | --06-30 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Address Line One | 2121 Rosecrans Ave | |
Entity Address, Address Line Two | Suite 6300 | |
Entity Address, City or Town | El Segundo | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 90245 | |
City Area Code | 310 | |
Local Phone Number | 587-1477 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | AMRK | |
Security Exchange Name | NASDAQ | |
Entity Common Stock, Shares Outstanding | 11,514,010 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Please wait while we load the requested 10-Q report or click the link below:
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Amark Precious Metals, Inc..
Amark Precious Metals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Excluding an increase of $522.1 million of forward sales that had a negligible impact to the amount of gross profit, our gross margin percentage for the nine months ended March 31, 2022 increased by 45.5 basis points to 2.451% from 1.997%.
The decrease in the gross profit margin percentage was mainly driven by the addition of JMB which has lower direct-to-consumer margins than Goldline and PMPP, partially offset by improved gross profit percentages at Goldline and PMPP.
The decrease in the gross profit margin percentage was mainly driven by the addition of JMB which has lower Direct-to-Consumer margins than Goldline and PMPP, partially offset by improved gross profit percentages at Goldline and PMPP.
The precious metal component of the inventory may be hedged through the use of precious metal commodity positions, while the premium component of our inventory is not a commodity that may be hedged.
The overall gross profit decrease was primarily due to wider product margins, offset by the elimination of inter-segment transactions with JMB, as discussed in the preceding Revenues section.
The Company recognizes interest and...Read more
This segment?s profit margin percentage...Read more
Excluding the impact of inter-segment...Read more
Excluding the impact of inter-segment...Read more
93 Also, the Company recognizes...Read more
As compared to the same...Read more
As compared to the same...Read more
Factors that could cause or...Read more
We intend to continue to...Read more
Earnings from equity method investments?...Read more
Product supply constraints during extended...Read more
When these contracts are net...Read more
The increase was due to...Read more
The increase was due to...Read more
The aggregate increase in interest...Read more
85 NON-GAAP MEASURES Adjusted net...Read more
The increase in interest income...Read more
The increase in interest income...Read more
The increase in interest income...Read more
The increase in interest income...Read more
The increase in interest expense...Read more
The Wholesale Sales & Ancillary...Read more
Interest Income ? Wholesale Sales...Read more
In periods of higher volatility,...Read more
The Company?s overall gross margin...Read more
The Company?s overall gross margin...Read more
Our strategy continues to focus...Read more
74 Remeasurement gain on pre-existing...Read more
Forward sales increase revenues but...Read more
Forward sales increase revenues but...Read more
The overall gross profit decrease...Read more
Excluding an increase in forward...Read more
For contracts that are net...Read more
For the three months ended...Read more
For the nine months ended...Read more
This segment?s profit margin percentage...Read more
Our policy is to substantially...Read more
Nine Months Ended March 31,...Read more
If the Company concludes that...Read more
The increase in gross margin...Read more
The increase in gross margin...Read more
Greater volatility typically causes the...Read more
The decrease was mainly driven...Read more
The decrease was mainly driven...Read more
The Company records commodity forward...Read more
The change was primarily due...Read more
Remeasurement gain on pre-existing equity...Read more
Earnings from equity method investments...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
The Company operates in a...Read more
Since we quote prices based...Read more
The change was primarily due...Read more
Nine Months Ended March 31,...Read more
For the three months ended...Read more
For the nine months ended...Read more
The increase in interest expense...Read more
The change was primarily due...Read more
For a reconciliation of these...Read more
The decrease in gross margin...Read more
In periods of higher volatility,...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Excluding inter-segment sales from the...Read more
Excluding inter-segment sales from the...Read more
The new credit facility became...Read more
Lines of Credit Effective December...Read more
For the three months ended...Read more
For the nine months ended...Read more
Excluding an increase of $184.7...Read more
We have an effective universal...Read more
Excluding an increase in forward...Read more
Inventory includes amounts borrowed from...Read more
The Company also continually monitors...Read more
The Company?s gains (losses) on...Read more
The change was primarily due...Read more
This period 90 over period...Read more
The primary reason for the...Read more
84 Selling, General and Administrative...Read more
Nine Months Ended March 31,...Read more
78 Nine Months Ended March...Read more
61 Gross Profit Three Months...Read more
Nine Months Ended March 31,...Read more
79 Gross Profit ? Direct-to-Consumer...Read more
Nine Months Ended March 31,...Read more
However, the gains and losses...Read more
Unallocated or pool metal represents...Read more
OFF-BALANCE SHEET ARRANGEMENTS As of...Read more
The increase in ticket volume...Read more
The increase in ticket volume...Read more
Net cash used in investing...Read more
60 Revenues Three Months Ended...Read more
For the three months ended...Read more
If the Company concludes that...Read more
The overall gross profit increase...Read more
The overall gross profit increase...Read more
77 Segment Results ? Direct-to-Consumer...Read more
Our open sale and purchase...Read more
For the nine months ended...Read more
Our working capital requirements fluctuated...Read more
For the three months ended...Read more
For the nine months ended...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
JMB?s depreciation and amortization expense...Read more
63 JMB?s depreciation and amortization...Read more
73 Interest Expense ? Wholesale...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Three Months Ended March 31,...Read more
86 Nine Months Ended March...Read more
We are focused on attracting...Read more
The increase in gross profit...Read more
For this reason, the Company...Read more
The following table summarizes the...Read more
When the market price of...Read more
For the three months ended...Read more
For the three months ended...Read more
For the nine months ended...Read more
Unlike our bullion coins, the...Read more
The change was primarily due...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Other income, net Three Months...Read more
These net gains and losses...Read more
Our effective tax rate was...Read more
Our effective tax rate was...Read more
All subsequent written and oral...Read more
The Company also performs impairment...Read more
If through a quantitative analysis...Read more
The Company also uses other...Read more
The obligation is stated at...Read more
The obligation is stated at...Read more
The fair market value of...Read more
The overall decrease is primarily...Read more
Our inventory consists of, and...Read more
This step requires us to...Read more
Interest Expense ? Secured Lending...Read more
The Company's wholly-owned subsidiary AMGL...Read more
Other Income, net ? Secured...Read more
As of March 31, 2022,...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Nine Months Ended March 31,...Read more
Amortization of purchased intangible assets...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Amark Precious Metals, Inc. provided additional information to their SEC Filing as exhibits
Ticker: AMRK
CIK: 1591588
Form Type: 10-Q Quarterly Report
Accession Number: 0000950170-22-008189
Submitted to the SEC: Fri May 06 2022 7:31:53 PM EST
Accepted by the SEC: Mon May 09 2022
Period: Thursday, March 31, 2022
Industry: Wholesale Jewelry Watches Precious Stones And Metals