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

Quarterly report pursuant to Section 13 or 15(d)

Customer and Supplier Concentrations

Customer and Supplier Concentrations

9 Months Ended

Mar. 31, 2024

Risks and Uncertainties [Abstract]

Customer and Supplier Concentrations

18. CUSTOMER AND SUPPLIER CONCENTRATIONS

Customer Concentrations

The following customers provided 10 percent or more of the Company's revenues (in thousands):


	Three Months Ended March 31,										Nine Months Ended March 31,
	2024					2023					2024					2023
	Amount		Percent			Amount		Percent			Amount		Percent			Amount		Percent
Total revenue	$	2,610,651		100.0	%	$	2,317,150		100.0	%	$	7,174,084		100.0	%	$	6,167,206		100.0	%
Customer concentrations
Morgan Stanley(1)	$	485,924		18.6	%	$	205,370		8.9	%	$	861,693		12.0	%	$	545,052		8.8	%
HSBC Bank (1)	$	572,054		21.9	%	$	328,465		14.2	%	$	1,628,466		22.7	%	$	751,828		12.2	%

(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 customer provided 10 percent or more of the Company's accounts receivable balances (in thousands):


	March 31, 2024					June 30, 2023
	Amount		Percent			Amount		Percent
Total accounts receivable	$	53,229		100.0	%	$	35,243		100.0	%
Customer concentrations
Morgan Stanley	$	6,960		13.1	%	$	—		—	%

The following customer accounted for 10 percent or more of the Company's secured loans receivable (in thousands):


	March 31, 2024					June 30, 2023
	Amount		Percent			Amount		Percent
Total secured loans	$	115,645		100.0	%	$	100,620		100.0	%
Customer concentrations
Customer A	$	13,500		11.7	%	$	13,500		13.4	%

Supplier Concentrations

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.