Based in
“This acquisition further expands our direct-to-consumer (“DTC”) portfolio in line with A-Mark’s strategic vision,” said JMB President and incoming CEO
BullionMax’s contributions to the DTC segment’s performance and key operating metrics will be reflected in A-Mark’s reported results commencing in the fourth quarter of fiscal 2023.
Below is a summary of selected key operating metrics of the DTC segment for the one month and ten months ended
One Month Ended | Ten Months Ended | ||||||
Selected Key Operating Metrics (excluding BullionMax): | |||||||
Direct-to-Consumer ("DTC") gold ounces sold (1) | 77,000 | 535,000 | |||||
Direct-to-Consumer silver ounces sold (2) | 2,405,000 | 20,561,000 | |||||
Direct-to-Consumer number of new customers (3) | 31,500 | 276,400 | |||||
Direct-to-Consumer number of active customers (4) | 58,200 | 400,700 | |||||
Direct-to-Consumer number of total customers (5) | 2,289,400 | 2,289,400 | |||||
Direct-to-Consumer average order value ("AOV") (6) | $ | 3,615 | $ | 2,537 | |||
CyberMetals number of new customers (7) | 2,000 | 13,300 | |||||
CyberMetals number of active customers (8) | 1,100 | 4,200 | |||||
CyberMetals number of total customers (9) | 19,200 | 19,200 | |||||
CyberMetals customer assets under management (10) | $ | 7,000,000 | $ | 7,000,000 | |||
(1) DTC gold ounces sold represents the ounces of gold product sold and delivered to the customer during the period. | |||||||
(2) DTC silver ounces sold represents the ounces of silver product sold and delivered to the customer during the period. | |||||||
(3) DTC number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period within the Direct-to-Consumer segment (includes JMB, GLI, and PMPP). | |||||||
(4) DTC number of active customers represents the number of customers that have made a purchase during any month during the period within the Direct-to-Consumer segment. | |||||||
(5) DTC number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past within the Direct-to-Consumer segment. | |||||||
(6) DTC AOV represents the average dollar value of third-party product orders (excluding accumulation program orders) delivered to the customer during the period within the Direct-to-Consumer segment. | |||||||
(7) CyberMetals number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period on the CyberMetals platform. | |||||||
(8) CyberMetals number of active customers represents the number of customers that have made a purchase during any month during the period on the CyberMetals platform. | |||||||
(9) CyberMetals number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past on the CyberMetals platform. | |||||||
(10) CyberMetals customer assets under management represents the total value of assets managed by the Company on behalf of CyberMetals customers. |
About A-Mark Precious Metals
Founded in 1965,
A-Mark’s Wholesale Sales & Ancillary Services segment distributes and purchases precious metal products from sovereign and private mints. As a
Through its A-M Global Logistics subsidiary, A-Mark provides its customers with a range of complementary services, including managed storage options for precious metals as well as receiving, handling, inventorying, processing, packaging, and shipping of precious metals and coins on a secure basis. A-Mark’s mint operations, which are conducted through its wholly owned subsidiary
A-Mark’s Direct-to-Consumer segment operates as an omni-channel retailer of precious metals, providing access to a multitude of products through its wholly owned subsidiaries,
The company operates its Secured Lending segment through its wholly owned subsidiaries,
A-Mark is headquartered in
A-Mark periodically provides information for investors on its corporate website, www.amark.com, and its investor relations website, ir.amark.com. This includes press releases and other information about financial performance, reports filed or furnished with the
Important Cautions Regarding Forward-Looking Statements
Statements in this press release that relate to future plans, objectives, expectations, performance, events and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. These include statements relating to expectations regarding future macroeconomic conditions and demand for precious metal products, and the Company’s ability to effectively respond to changing economic conditions. Future events, risks and uncertainties, individually or in the aggregate, could cause actual results or circumstances to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ include the following: the failure to execute the Company’s growth strategy, including the inability to identify suitable or available acquisition or investment opportunities; greater than anticipated costs incurred to execute this strategy; the failure to achieve the anticipated benefits of any pending investment; changes in the current international political and economic climate, which has favorably contributed to demand and volatility in the precious metals markets; potential adverse effects of the current problems in the national and global supply chains; increased competition for the Company’s higher margin services, which could depress pricing; the failure of the Company’s business model to respond to changes in the market environment as anticipated; changes in consumer demand and preferences for precious metal products generally; potential negative effects that inflationary pressure may have on our business; the inability of the Company to expand capacity at Silver Towne Mint, the failure of our investee companies to maintain, or address the preferences of, their customer bases; general risks of doing business in the commodity markets; and the strategic, business, economic, financial, political and governmental risks and other Risk Factors described in in the Company’s public filings with the
The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The Company undertakes no obligation to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
Company Contact:
1-310-587-1410
sreiner@amark.com
Investor Relations Contact:
1-949-574-3860
AMRK@gatewayir.com
Source:
2023 GlobeNewswire, Inc., source