Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 159

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 159
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2023. On average, the selling prices for gold increased by 32.1% and selling prices for silver increased by 30.0% during the six months ended December 31, 2024 as compared to the prior year. 

The Wholesale Sales ticket volume for the six months ended December 31, 2024 increased by 12,335 tickets, or 26.1% to 59,641 tickets from 47,306 tickets in 2023.

Gross Profit — Wholesale Sales & Ancillary Services

    in thousands

    Three Months Ended December 31,
     
    2024
     
    2023
     
    Change

    $

    % of revenue

    $

    % of revenue

    $

    %

    Gross profit
     
    $
    19,734

    0.908
    %
    (c)
     
    $
    23,884

    1.398
    %
    (d)
     
    $
    (4,150
    )

    (17.4
    %)

(c)Gross profit percentage before elimination of inter-segment sales to the Direct-to-Consumer segment was 0.751% for the period.

(d)Gross profit percentage before elimination of inter-segment sales to the Direct-to-Consumer segment was 1.134% for the period.

Gross profit for the three months ended December 31, 2024 decreased $4.2 million, or 17.4%, to $19.7 million from $23.9 million in 2023. The overall gross profit decrease was primarily due to lower premium spreads and lower trading profits. 

This segment’s profit margin percentage decreased by 49.0 basis points to 0.908% from 1.398% in 2023. The decrease in gross margin percentage was mainly attributable increased forward sales, lower premium spreads, and lower trading profits.

Excluding an increase of $167.3 million of forward sales that had a negligible impact to the amount of gross profit, this segment's gross margin percentage for the three months ended December 31, 2024 decreased by 95.7 basis points to 1.604% from 2.561%. Forward sales increase revenues but are associated with negligible gross profit. The Company enters into forward contracts to hedge its precious metals price risk exposure and not for speculative purposes.

    in thousands

    Six Months Ended December 31,