Quarterly report [Sections 13 or 15(d)]

Receivables, net

v3.25.3
Receivables, net
3 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Receivables, net

4. RECEIVABLES, NET

Receivables, net consisted of the following (in thousands):

 

 

 

September 30, 2025

 

 

June 30, 2025

 

Customer trade receivables

 

$

150,913

 

 

$

88,135

 

Wholesale trade advances

 

 

22,422

 

 

 

25,008

 

Due from brokers and other

 

 

109,805

 

 

 

24,580

 

 

 

$

283,140

 

 

$

137,723

 

Customer Trade Receivables. Customer trade receivables represent short-term, non-interest bearing amounts due from precious metal sales, advances related to financing products, and other secured interests in assets of the customer.

Wholesale Trade Advances. Wholesale trade advances represent advances of various bullion products and cash advances for purchase commitments of precious metal inventory. Typically, these advances are unsecured, short-term, and non-interest bearing, and are made to wholesale metals dealers and government mints.

Due from Brokers and Other. Due from brokers and other consists of the margin requirements held at brokers related to open futures contracts (see Note 12) and other receivables.