in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Revenue by segment⁽¹⁾⁽²⁾

Wholesale Sales & Ancillary Services⁽³⁾

$

1,923,263

$

1,234,165

$

5,214,460

$

3,733,252

Direct-to-Consumer

126,226

^(a)

24,557

^(b)

219,889

^(c)

62,074

^(d)

$

2,049,489

$

1,258,722

$

5,434,349

$

3,795,326

(1)

Inter-segment purchases from and sales to the Direct-to-Consumer segment are transacted at Wholesale Sales & Ancillary Services segment's prices, which is consistent with arms-length transactions with third-parties.

(2)

The Secured Lending segment earns interest income from its lending activity and earns no revenue from the sales of precious metals. Therefore, no amounts are shown for the Secured Lending segment in the above table.

(3)

The elimination of inter-segment sales are reflected in the Wholesale Sales & Ancillary Services segment.

(a)

Includes $0.9 million of inter-segment sales from the Direct-to-Consumer segment to the Wholesale Sales & Ancillary Services segment.

(b)

Includes $9.7 million of inter-segment sales from the Direct-to-Consumer segment to the Wholesale Sales & Ancillary Services segment.

(c)

Includes $7.8 million of inter-segment sales from the Direct-to-Consumer segment to the Wholesale Sales & Ancillary Services segment.

(d)

Includes $22.8 million of inter-segment sales from the Direct-to-Consumer segment to the Wholesale Sales & Ancillary Services segment.

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Revenue by geographic region (as determined by the shipping or billing address or where the services were performed):

United States

$

1,485,792

$

1,072,071

$

4,102,209

$

2,958,735

Europe

86,260

59,367

333,183

214,777

North America, excluding United States

430,081

110,676

911,153

577,908

Asia Pacific

15,915

14,291

39,350

33,226

Africa

—

—

—

31

Australia

31,441

2,317

48,454

10,649

$

2,049,489

$

1,258,722

$

5,434,349

$

3,795,326

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Gross profit by segment⁽¹⁾

Wholesale Sales & Ancillary Services

$

51,563

$

19,749

$

95,430

$

33,106

Direct-to-Consumer

16,608

2,726

27,637

5,840

Total gross profit

$

68,171

$

22,475

$

123,067

$

38,946

Gross margin percentage by segment⁽¹⁾

Wholesale Sales & Ancillary Services

2.681

%

1.600

%

1.830

%

0.887

%

Direct-to-Consumer

13.157

%

11.101

%

12.569

%

9.408

%

Weighted average gross margin percentage

3.326

%

1.786

%

2.265

%

1.026

%

(1)

The Secured Lending segment earns interest income from its lending activity and earns no gross profit from the sales of precious metals. Therefore, no amounts are shown for the Secured Lending segment in the above table.

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Operating income (expense) by segment

Wholesale Sales & Ancillary Services

Selling, general and administrative expenses

$

(10,072

)

$

(7,973

)

$

(24,364

)

$

(19,253

)

Interest income

$

2,554

$

2,377

$

7,490

$

6,869

Interest expense

$

(3,274

)

$

(2,946

)

$

(9,137

)

$

(8,215

)

Other income, net

$

7,410

$

277

$

13,898

$

392

Remeasurement gain on pre-existing equity interest

$

26,306

$

—

$

26,306

$

—

Unrealized losses on foreign exchange

$

(53

)

$

(45

)

$

(131

)

$

(42

)

Secured Lending

Selling, general and administrative expenses

$

(880

)

$

(666

)

$

(1,883

)

$

(1,398

)

Interest income

$

2,170

$

3,591

$

5,750

$

11,099

Interest expense

$

(2,016

)

$

(2,105

)

$

(5,483

)

$

(7,059

)

Other income, net

$

340

$

186

$

904

$

275

Direct-to-Consumer

Selling, general and administrative expenses

$

(3,831

)

$

(1,749

)

$

(7,575

)

$

(5,877

)

Interest expense

$

(45

)

$

—

$

(45

)

$

—

Other expense, net

$

—

$

—

$

—

$

(220

)

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Net income (loss) before provision for income taxes by segment

Wholesale Sales & Ancillary Services

$

74,434

$

11,439

$

109,492

$

12,857

Secured Lending

(386

)

1,006

(712

)

2,917

Direct-to-Consumer

12,732

977

20,017

(257

)

$

86,780

$

13,422

$

128,797

$

15,517

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Depreciation and amortization by segment

Wholesale Sales & Ancillary Services

$

(213

)

$

(375

)

$

(637

)

$

(1,175

)

Secured Lending

(88

)

(281

)

(264

)

(316

)

Direct-to-Consumer

(1,187

)

(227

)

(1,593

)

(726

)

$

(1,488

)

$

(883

)

$

(2,494

)

$

(2,217

)

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Advertising expense by segment

Wholesale Sales & Ancillary Services

$

(74

)

$

(294

)

$

(217

)

$

(362

)

Secured Lending

(63

)

(6

)

(131

)

(11

)

Direct-to-Consumer

(821

)

(456

)

(1,932

)

(1,192

)

$

(958

)

$

(756

)

$

(2,280

)

$

(1,565

)

in thousands

March 31,

2021

June 30,

2020

Precious metals held under financing arrangements by segment

Wholesale Sales & Ancillary Services

$

136,289

$

157,609

Secured Lending

24,699

20,968

$

160,988

$

178,577

in thousands

March 31,

2021

June 30,

2020

Inventories by segment

Wholesale Sales & Ancillary Services

$

469,998

$

289,069

Secured Lending

5,838

24,057

Direct-to-Consumer

85,085

8,155

$

560,921

$

321,281

in thousands

March 31,

2021

June 30,

2020

Inventories by geographic region

United States

$

530,010

$

287,960

Europe

10,030

19,531

North America, excluding United States

20,800

13,735

Asia

81

55

$

560,921

$

321,281

in thousands

March 31,

2021

June 30,

2020

Assets by segment

Wholesale Sales & Ancillary Services

$

751,336

$

599,032

Secured Lending

141,660

140,622

Direct-to-Consumer

340,357

18,381

$

1,233,353

$

758,035

in thousands

March 31,

2021

June 30,

2020

Assets by geographic region

United States

$

1,200,641

$

723,252

Europe

11,831

20,993

North America, excluding United States

20,800

13,735

Asia

81

55

$

1,233,353

$

758,035

in thousands

March 31,

2021

June 30,

2020

Long-term assets by segment

Wholesale Sales & Ancillary Services

$

34,067

$

39,090

Secured Lending

1,060

1,319

Direct-to-Consumer

197,321

3,607

$

232,448

$

44,016

in thousands

March 31,

2021

June 30,

2020

Long-term assets by geographic region

United States

$

232,393

$

43,963

Europe

55

53

$

232,448

$

44,016

in thousands

Three Months Ended

Nine Months Ended

March 31,

2021

March 31,

2020

March 31,

2021

March 31,

2020

Capital expenditures on property, plant, and equipment by segment

Wholesale Sales & Ancillary Services

$

411

$

224

$

1,335

$

600

Secured Lending

—

4

4

76

Direct-to-Consumer

3

3

12

10

$

414

$

231

$

1,351

$

686

in thousands

March 31,

2021

June 30,

2020

Goodwill by segment

Wholesale Sales & Ancillary Services

$

8,881

$

8,881

Direct-to-Consumer (1)

92,792

—

$

101,673

$

8,881

(1)

Direct-to-Consumer segment’s goodwill balance is net of $1.4 million accumulated impairment losses.

in thousands

March 31,

2021

June 30,

2020

Intangibles by segment

Wholesale Sales & Ancillary Services

$

2,850

$

2,907

Direct-to-Consumer (2)

98,666

2,067

$

101,516

$

4,974

(2)

Direct-to-Consumer segment’s intangibles balance is net of $1.3 million accumulated impairment losses.