A-Mark Precious Metals Inc 2025年季度报告

☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR A-MARK PRECIOUS METALS, INC.(Exact name of registrant as specified in its charter) 2121 Rosecrans Ave.,Suite 6300,El Segundo,CA90245(Address of principal executive offices) (Zip code)(310)587-1477(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Exchange Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past90 days.Yes.☑No.☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of RegulationS-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes.☑No.☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes.☐No.☑ A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIES QUARTERLY REPORT ON FORM 10-QFor the Quarterly Period Ended September 30, 2025 TABLE OF CONTENTS PART I - FINANCIAL INFORMATION Index to the Condensed Consolidated Financial Statements and Notes thereofPageCondensed Consolidated Balance Sheets as of September 30, 2025 and June 30, 20254Condensed ConsolidatedStatements of Income for the Three Months Ended September 30, 2025 and 20245Condensed ConsolidatedStatements of Stockholders' Equity for the Three Months Ended September 30, 2025 and 20246Condensed Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2025 and 20247Notes to the Condensed Consolidated Financial Statements8Note 1. Description of Business8Note 2. Summary of Significant Accounting Policies10Note 3. Assets and Liabilities, at Fair Value21Note 4. Receivables, Net25Note 5. Secured Loans Receivable25Note 6. Inventories27Note 7. Leases28Note 8. Property, Plant, and Equipment29Note 9. Goodwill and Intangible Assets29Note 10. Long-Term Investments31Note 11. Accounts Payable and Other Current Liabilities31Note 12. Derivative Instruments and Hedging Transactions31Note 13. Income Taxes34Note 14. Related Party Transactions35Note 15. Financing Agreements37Note 16. Commitments and Contingencies39Note 17. Stockholders' Equity40Note 18. Customer and Supplier Concentrations43Note 19. Segments and Geographic Information43Note 20. Subsequent Events47 A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands, except for share data) A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME(in thousands, except for share and per share data; unaudited) A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTSOF STOCKHOLDERS' EQUITY(in thousands, except for share data; unaudited) A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands; unaudited) A-MARK PRECIOUS METALS, INC. AND SUBSIDIARIESNOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 1. DESCRIPTION OF BUSINESS Basis of Presentation The consolidated financial statements comprise those of A-Mark Precious Metals, Inc. ("A-Mark", also referred to as "we","us", and the "Company"), its consolidated subsidiaries, and its joint venture in which the Company has a controlling interest. Business Segments The Company conducts its operations inthreereportable segments: (i) Wholesale Sales & Ancillary Services, (ii) Direct-to-Consumer, and (iii) Secured Lending. SeeNote 19for further information regarding our reportable segments. Wholesale Sales &Ancillary Services The Company operates its Wholesale Sales & Ancillary Services segment directly and through its consolidated subsidiaries,A-Mark Trading AG (“AMTAG”), Transcontinental Depository Services, LLC ("TDS"), A-M Global Logistics, LLC (“AMGL” or"Logistics"), AM&ST Associates, LLC ("AMST" or the "Silver Towne Mint"), AM/LPM Ventures, LLC, which owns a majorityinterest in LPM Group Limited ("LPM"), Spectrum Group International, LLC, which was formed in February 2025 to acquire all ofthe stock of Spectrum Gro