Quarterly report pursuant to Section 13 or 15(d)

Customer and Supplier Concentrations

v3.22.4
Customer and Supplier Concentrations
6 Months Ended
Dec. 31, 2022
Risks and Uncertainties [Abstract]  
Customer and Supplier Concentrations

18. CUSTOMER AND SUPPLIER CONCENTRATIONS

Customer Concentration

 

The following customer provided 10 percent or more of the Company's revenues for the three months ended December 31, 2022 and 2021.

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

December 31, 2022

 

 

December 31, 2021

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total revenue

 

$

1,949,705

 

 

 

100.0

%

 

$

1,946,364

 

 

 

100.0

%

 

$

3,850,056

 

 

 

100.0

%

 

$

3,960,335

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSBC Bank (1)

 

$

288,839

 

 

 

14.8

%

 

$

98,430

 

 

 

5.1

%

 

$

423,363

 

 

 

11.0

%

 

$

212,235

 

 

 

5.4

%

 

(1) Sales with this trading partner include sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product. This sales activity has been reported within the Wholesale Sales and Ancillary Services segment.

 

The following customers provided 10 percent or more of the Company's accounts receivable as of December 31, 2022.

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

June 30, 2022

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total accounts receivable

 

$

109,588

 

 

 

100.0

%

 

$

97,040

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

HSBC Bank

 

$

33,503

 

 

 

30.5

%

 

$

-

 

 

 

0.0

%

ICBC Standard Bank

 

 

14,330

 

 

 

13.1

%

 

 

 

 

 

0.0

%

 

 

$

47,833

 

 

 

43.6

%

 

$

 

 

 

0.0

%

 

 

 

The following customers provided 10 percent or more of the Company's secured loans receivable as of December 31, 2022.

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

June 30, 2022

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total secured loans

 

$

102,470

 

 

 

100.0

%

 

$

126,217

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

Customer A

 

$

15,650

 

 

 

15.2

%

 

$

 

 

 

0.0

%

Customer B

 

 

13,500

 

 

 

13.2

%

 

 

13,500

 

 

 

10.7

%

 

 

$

29,150

 

 

 

28.4

%

 

$

13,500

 

 

 

10.7

%

Supplier Concentration

The Company buys precious metals from a variety of sources, including through brokers and dealers, from sovereign and private mints, from refiners and directly from customers. The Company believes that no one supplier or small group of suppliers is critical to its business, since other sources of supply are available that provide similar products on comparable terms.