Annual report pursuant to Section 13 and 15(d)

Customer and Supplier Concentrations

v3.24.2.u1
Customer and Supplier Concentrations
12 Months Ended
Jun. 30, 2024
Risks and Uncertainties [Abstract]  
Customer and Supplier Concentrations

18. CUSTOMER AND SUPPLIER CONCENTRATIONS

Customer Concentrations

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

 

 

 

Year Ended June 30,

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

 

Total revenue

 

$

9,699,039

 

 

 

100.0

%

 

$

9,286,561

 

 

 

100.0

%

 

$

8,159,254

 

 

 

100.0

%

 

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

HSBC Bank (1)

 

$

2,114,253

 

 

 

21.8

%

 

$

1,191,436

 

 

 

12.8

%

 

 

492,390

 

 

 

6.0

%

 

 

(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, 2024.

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

 

 

 

June 30, 2024

 

 

June 30, 2023

 

 

 

Amount

 

 

Percent

 

 

Amount

 

 

Percent

 

Total secured loans

 

$

113,067

 

 

 

100.0

%

 

$

100,620

 

 

 

100.0

%

Customer concentrations

 

 

 

 

 

 

 

 

 

 

 

 

Customer A

 

$

13,500

 

 

 

11.9

%

 

$

13,500

 

 

 

13.4

%

Customer B

 

$

17,724

 

 

 

15.7

%

 

$

-

 

 

 

0.0

%

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.