Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 146

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 146
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2024 decreased $1.3 million, or 2.8%, to $44.8 million from $46.0 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 three months ended December 31, 2024 decreased by 58.3 basis points to 1.632% from 2.215% in 2023. Excluding an increase of $167.3 million of forward sales that had a negligible impact to the amount of gross profit, our gross margin percentage for the three months ended December 31, 2024 decreased by 104.4 basis points to 2.488% from 3.532%, which was primarily due to lower premium spreads and lower trading profits. JMB’s retail market activity represented 37.9% and 41.1%, respectively, of the Company’s consolidated gross profit for the three months ended December 31, 2024 and 2023.

Our inventory turnover ratio for the three months ended December 31, 2024 increased by 15.8% to 2.2 from 1.9 in 2023. The increase in our inventory turnover ratio was primarily due to higher forward sales, partially offset by higher average inventory balances.

55

    in thousands, except performance metric

    Six Months Ended December 31,
     
    2024

    2023

    Change

    $

    % of revenue

    $

    % of revenue

    $

    %

    Gross profit
     
    $
    88,210

    1.616
    %

    $
    95,446

    2.092
    %

    $
    (7,236
    )

    (7.6
    %)

    Performance Metric

    Inventory turnover ratio

    4.7

    4.3

    0.4

    9.3
    %

Gross profit for the six months ended December 31, 2024 decreased $7.2 million, or 7.6%, to $88.2 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