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

6 Months Ended

Dec. 31, 2023

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):


	Three Months Ended December 31,										Six Months Ended December 31,
	2023					2022					2023					2022
	Amount		Percent			Amount		Percent			Amount		Percent			Amount		Percent
Total revenue	$	2,078,815		100.0	%	$	1,949,705		100.0	%	$	4,563,433		100.0	%	$	3,850,056		100.0	%
Customer concentrations
HSBC Bank (1)	$	457,363		22.0	%	$	288,839		14.8	%		1,056,411		23.1	%		423,363		11.0	%

(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.

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


	December 31, 2023					June 30, 2023
	Amount		Percent			Amount		Percent
Total accounts receivable	$	42,720		100.0	%	$	35,243		100.0	%
Customer concentrations
Bank of America	$	6,570		15.4	%	$	—		—	%
Morgan Stanley	$	5,470		12.8	%	$	—		—	%

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


	December 31, 2023					June 30, 2023
	Amount		Percent			Amount		Percent
Total secured loans	$	106,565		100.0	%	$	100,620		100.0	%
Customer concentrations
Customer A	$	12,500		11.7	%	$	11,500		11.4	%
Customer B	$	13,500		12.7	%	$	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.