Quarterly report pursuant to Section 13 or 15(d)

Customer and Supplier Concentrations

v3.23.1
Customer and Supplier Concentrations
 9 Months Ended
Mar. 31, 2023
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 March 31, 2023 and 2022:

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31,

 

 

Nine Months Ended March 31,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total revenue

 

$

2,317,150

 

 

 

100.0

%

 

$

2,109,115

 

 

 

100.0

%

 

$

6,167,206

 

 

 

100.0

%

 

$

6,069,450

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSBC Bank (1)

 

 

328,465

 

 

 

14.2

%

 

 

130,855

 

 

 

6.2

%

 

 

751,828

 

 

 

12.2

%

 

 

343,090

 

 

 

5.7

%

 

 

(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.

 

No single customer provided 10 percent or more of the Company's accounts receivable balances as of March 31, 2023.

The following customers accounted for 10 percent or more of the Company's secured loans receivable as of March 31, 2023:

 

in thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2023

 

 

June 30, 2022

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total secured loans

 

$

96,856

 

 

 

100.0

%

 

$

126,217

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

Customer A

 

$

11,500

 

 

 

11.9

%

 

$

—

 

 

 

0.0

%

Customer B

 

 

13,500

 

 

 

13.9

%

 

 

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.