A-Mark Precious Metals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Customer and Supplier Concentrations

Customer and Supplier Concentrations

12 Months Ended

Jun. 30, 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 (in thousands):


	Year Ended June 30,
	2023					2022					2021
	Amount		Percent			Amount		Percent			Amount		Percent
Total revenue	$	9,286,561		100.0	%	$	8,159,254		100.0	%	$	7,613,015		100.0	%
Customer concentrations
HSBC Bank (1)	$	1,191,436		12.8	%	$	492,390		6.0	%	$	552,845		7.3	%

(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 June 30, 2023.

The following customers accounted for 10 percent or more of the Company's secured loans receivable as of June 30, 2023 (in thousands):


	June 30, 2023					June 30, 2022
	Amount		Percent			Amount		Percent
Total secured loans	$	100,620		100.0	%	$	126,217		100.0	%
Customer concentrations
Customer A	$	11,500		11.4	%	$	—		0.0	%
Customer B		13,500		13.4	%		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.