A-Mark Precious Metals Files 2024 10-K

TL;DR

AMRK filed its 2024 10-K. Full year financials are in.

AI Summary

A-Mark Precious Metals, Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its wholesale and retail operations of precious metals and related products. The company's business includes the sale of gold, silver, platinum, and palladium, as well as numismatic coins and gradded sports cards. Key financial data and operational details for the fiscal year 2024 are presented in this filing.

Why It Matters

This filing provides investors and analysts with a comprehensive overview of A-Mark's financial performance and business operations for the fiscal year 2024, including key financial metrics and risk factors.

Risk Assessment

Risk Level: medium — The company operates in the volatile precious metals market and faces risks related to commodity price fluctuations, customer concentration, and derivative liabilities.

Key Numbers

• FY 2024 — Fiscal Year (Reporting period for the 10-K filing)
• 06-30 — Fiscal Year End (End date of the reported fiscal year)

Key Players & Entities

• A-Mark Precious Metals, Inc. (company) — Filer of the 10-K
• 2024-06-30 (date) — Fiscal year end
• 2024-09-13 (date) — Filing date
• 2121 Rosecrans Avenue, Suite 6300, El Segundo, CA 90245 (address) — Company business and mailing address
• 310-587-1414 (phone_number) — Company business phone

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value AMRK NASDAQ Global Select

Filing Documents

• amrk-20240630.htm (10-K) — 6545KB
• amrk-ex10_9.htm (EX-10.9) — 177KB
• amrk-ex10_10.htm (EX-10.10) — 23KB
• amrk-ex10_25.htm (EX-10.25) — 16KB
• amrk-ex10_26.htm (EX-10.26) — 33KB
• amrk-ex10_27.htm (EX-10.27) — 23KB
• amrk-ex10_28.htm (EX-10.28) — 19KB
• amrk-ex10_29.htm (EX-10.29) — 15KB
• amrk-ex19.htm (EX-19) — 115KB
• amrk-ex21.htm (EX-21) — 30KB
• amrk-ex23_1.htm (EX-23.1) — 4KB
• amrk-ex31_1.htm (EX-31.1) — 17KB
• amrk-ex31_2.htm (EX-31.2) — 17KB
• amrk-ex32_1.htm (EX-32.1) — 10KB
• amrk-ex32_2.htm (EX-32.2) — 10KB
• img205905227_0.jpg (GRAPHIC) — 150KB
• img205905227_1.jpg (GRAPHIC) — 185KB
• 0000950170-24-106317.txt ( ) — 26635KB
• amrk-20240630.xsd (EX-101.SCH) — 2688KB
• amrk-20240630_htm.xml (XML) — 5896KB

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 32 Item 3.

Legal Proceedings

Legal Proceedings 32 Item 4. Mine Safety Disclosures 32 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 32 Item 6. [Reserved] 34 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 62 Item 8.

Financial Statements and Supplemental Data

Financial Statements and Supplemental Data 63 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 112 Item 9A.

Controls and Procedures

Controls and Procedures 112 Item 9B. Other Information 113 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 113 PART III Item 10. Directors, Executive Officers and Corporate Governance 114 Item 11.

Executive Compensation

Executive Compensation 114 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 114 Item 13. Certain Relationships and Related Transactions, and Director Independence 114 Item 14. Principal Accountant Fees and Services 114 PART IV Item 15. Exhibits and Financial Statement Schedules 115 Item 16. Form 10-K Summary 117

Signatures

Signatures 118 3 P ART I

D ESCRIPTION OF BUSINESS

ITEM 1. D ESCRIPTION OF BUSINESS Overview A-Mark, also referred to (together with its subsidiaries) as "we", "us" and the "Company", is a fully integrated precious metals platform that offers an array of gold, silver, platinum, palladium, and copper bullion, numismatic coins, and related products to wholesale and retail customers via a portfolio of channels. The Company conducts its operations through three complementary segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. A-Mark believes it has one of the largest customer bases in each of its markets and provides one of the most comprehensive offerings of products and services in the precious metals trading industry. Our global customer base, spanning four continents, includes mints, manufacturers and fabricators, refiners, coin and bullion dealers, e-commerce retailers, banks and other financial institutions, commodity brokerage houses, industrial users of precious metals, investors, collectors, and retail customers. Specifically, A-Mark: operates as a wholesaler of gold, silver, platinum, and palladium bullion and related products, including bars, wafers, grain, and coins; distributes gold and silver coins and bars from sovereign and private mints; sells to and purchases from the retail community; provides financing and other services relating to the purchase and sale of bullion and numismatics; offers secure storage for precious metal products; provides our customers a platform of turn-key logistics services; and provides a variety of custom fabricated gold and silver bullion and other specialty products through sovereign and private mint suppliers and its mint operations. A-Mark believes its businesses largely function independently of the price movement of the underlying commodities. However, factors such as global economic activity or uncertainty and inflationary trends, which affect market volatility, have the potential to impact demand, supply, volum

View Full Filing

View this 10-K filing on SEC EDGAR