Company: GOLD
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0000950170-25-016909
Chunk: 160

Company: Gold.com, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Item 8
Chunk 160
---
    2024
     
    2023
     
    Change

    $

    % of revenue

    $

    % of revenue

    $

    %

    Gross profit
     
    $
    39,724

    0.903
    %
    (c)
     
    $
    52,231

    1.351
    %
    (d)
     
    $
    (12,507
    )

    (23.9
    %)

(c)Gross profit percentage before elimination of inter-segment sales to the Direct-to-Consumer segment was 0.764% for the period.

(d)Gross profit percentage before elimination of inter-segment sales to the Direct-to-Consumer segment was 1.111% for the period.

Gross profit for the six months ended December 31, 2024 decreased $12.5 million, or 23.9%, to $39.7 million from $52.2 million in 2023. The gross profit decrease was primarily due to lower premium spreads and lower trading profits. 

This segment’s profit margin percentage decreased by 44.8 basis points to 0.903% from 1.351% in 2023. The decrease in gross margin percentage was mainly attributable to the impact of increased forward sales, lower premium spreads, and lower trading profits. 

Excluding an increase of $384.7 million of forward sales that had a negligible impact to the amount of gross profit, this segment's gross margin percentage for the six months ended December 31, 2024 decreased by 73.6 basis points to 1.798% from 2.534% in the prior year. 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.

62

Selling, General and Administrative Expenses — Wholesale Sales & Ancillary Services

    in thousands

    Three Months Ended December 31,
     
    2024
     
    2023
     
    Change

    $

    % of revenue

    $

    % of revenue

    $

    %

    Selling, general, and administrative expenses
     
    $
    (11,408
    )

    (0.525
    %)

    $
    (10,577
    )

    (0.619
    %)

    $
    831

    7.9