Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 317

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 1
Chunk 317
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2 million from $95.4 million in 2023. The overall gross profit decrease was due to lower gross profits earned from the Wholesale Sales & Ancillary Services segment, partially offset by an increase in gross profits earned by the Direct-to-Consumer segment.

The Company’s overall gross margin percentage for the six months ended December 31, 2024 decreased by 47.6 basis points to 1.616% from 2.092% in 2023. Excluding an increase of $384.7 million of forward sales that had a negligible impact to the amount of gross profit, our gross margin percentage for the six months ended December 31, 2024 decreased by 76.2 basis points to 2.700% from 3.462%, which was primarily due to lower premium spreads and lower trading profits. JMB’s retail market activity represented 37.5% and 38.3%, respectively, of the Company’s consolidated gross profit for the six months ended December 31, 2024 and 2023.

Our inventory turnover ratio for the six months ended December 31, 2024 increased by 9.3% to 4.7 from 4.3 in 2023. The increase in our inventory turnover ratio was primarily due to higher forward sales, partially offset by higher average inventory balances.

Selling, General and Administrative Expense

    in thousands

    Three Months Ended December 31,
     
    2024

    2023

    Change

    $

    % of revenue

    $

    % of revenue

    $

    %

    Selling, general, and administrative expenses
     
    $
    (25,754
    )

    (0.939
    %)

    $
    (22,396
    )

    (1.077
    %)

    $
    3,358

    15.0
    %

Selling, general and administrative expenses for the three months ended December 31, 2024 increased $3.4 million, or 15.0%, to $25.8 million from $22.4 million in 2023. The change was primarily due to: (i) an increase in consulting and professional fees of $1.3 million, (ii) higher advertising costs of $0.9 million, (iii) an increase in compensation expense (including performance-based accruals) of $0.6 million, and (iv) an increase in facilities expense of