Since 2011, TPM has processed over
In connection with the acquisition, A-Mark and TPM entered into a four-year extension of their existing exclusive supplier agreement, extending its expiration to
“We are excited to expand our long-standing relationship with TPM with this investment,” said A-Mark CEO
“As one of the premier companies in precious metals distribution, minting, and financing, we are excited to add A-Mark as a strategic investment partner,” said
Below is a preliminary summary of selected key operating metrics of the DTC segment (excluding
Three Months Ended | |||||||
Preliminary | |||||||
Selected Key Operating Metrics: | |||||||
Direct-to-Consumer ("DTC") gold ounces sold (1) | 130,000 | 153,000 | |||||
Direct-to-Consumer silver ounces sold (2) | 5,674,000 | 6,400,000 | |||||
Direct-to-Consumer number of new customers (3) | 131,000 | 49,000 | |||||
Direct-to-Consumer number of active customers (4) | 116,400 | 139,900 | |||||
Direct-to-Consumer number of total customers (5) | 2,193,000 | 2,062,000 | |||||
Direct-to-Consumer average order value ("AOV") (6) | |||||||
CyberMetals number of new customers (7) | 4,000 | 2,300 | |||||
CyberMetals number of active customers (8) | 1,300 | 2,000 | |||||
CyberMetals number of total customers (9) | 12,200 | 8,200 | |||||
CyberMetals customer assets under management (10) | |||||||
(1) DTC gold ounces sold represents the ounces of gold product sold and delivered to the customer during the period, excluding ounces of gold recorded on forward contracts. | |||||||
(2) DTC silver ounces sold represents the ounces of silver product sold and delivered to the customer during the period, excluding ounces of silver recorded on forward contracts. | |||||||
(3) DTC number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period within the Direct-to-Consumer segment. Includes JMB and subsidiaries (including BGASC), GLI, and PMPP. | |||||||
(4) DTC number of active customers represents the number of customers that have made a purchase during the period within the Direct-to-Consumer segment. | |||||||
(5) DTC number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past within the Direct-to-Consumer segment. | |||||||
(6) DTC AOV represents the average dollar value of third-party product orders (excluding accumulation program orders) delivered to the customer during the period within the Direct-to-Consumer segment. | |||||||
(7) CyberMetals number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period on the CyberMetals platform. | |||||||
(8) CyberMetals number of active customers represents the number of customers that have made a purchase during the period from the CyberMetals platform. | |||||||
(9) CyberMetals number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past from the CyberMetals platform. | |||||||
(10) CyberMetals customer assets under management represents the total value of assets managed by the Company on behalf of CyberMetals customers. |
About
Founded in 1965,
A-Mark’s Wholesale Sales & Ancillary Services segment distributes and purchases precious metal products from sovereign and private mints. As a
Through its A-M Global Logistics subsidiary, A-Mark provides its customers with a range of complementary services, including managed storage options for precious metals as well as receiving, handling, inventorying, processing, packaging, and shipping of precious metals and coins on a secure basis. A-Mark’s mint operations, which are conducted through its wholly owned subsidiary
A-Mark’s Direct-to-Consumer segment operates as an omni-channel retailer of precious metals, providing access to a multitude of products through its wholly owned subsidiaries,
The company operates its Secured Lending segment through its wholly owned subsidiaries,
A-Mark is headquartered in
Important Cautions Regarding Forward-Looking Statements
Statements in this press release that relate to future plans, objectives, expectations, performance, events, and the like are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. These include statements regarding expectations regarding future macroeconomic conditions and demand for precious metal products, and the company’s ability to effectively respond to changing economic conditions. Future events, risks, and uncertainties, individually or in the aggregate, could cause actual results or circumstances to differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ include the following: the failure to execute the company’s growth strategy as planned; greater than anticipated costs incurred to execute this strategy; changes in the current international political climate which has favorably contributed to demand and volatility in the precious metals markets; failure to achieve the anticipated benefits of the acquisition; increased competition for the company’s higher margin services, which could depress pricing; the failure of the company’s business model to respond to changes in the market environment as anticipated; changes in consumer demand and preferences for precious metal products generally; general risks of doing business in the commodity markets; the effects of the COVID-19 pandemic and the eventual return to normalized business and economic conditions; and the strategic, business, economic, financial, political and governmental risks described in in the company’s public filings with the
Company Contact:
1-310-587-1410
sreiner@amark.com
Investor Relations Contacts:
Gateway Investor Relations
1-949-574-3860
AMRK@gatewayir.com
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