A-Mark Precious Metals Q4 Profit Soars

A-Mark Precious Metals(NASDAQ:AMRK) reported fiscal Q4 and full-year 2025 results on September 4, 2025, delivering $17.3 million in net income for the year, with annual revenue of $10.98 billion and gross profit up 22% year-over-year. Management emphasized that recent acquisitions fueled a 90% year-over-year gross profit increase in the fourth quarter, despite persistent market headwinds and sharply elevated operating expenses. Key insights below detail integration progress, risk management challenges, and international strategy advancements with implications for long-term investors.

The fourth quarter saw a 90% year-over-year gross profit increase, reaching $81.7 million, while full-year gross profit rose 22% year-over-year to $210.9 million, despite only a modest 1.3% revenue increase, highlighting the outsized impact of new businesses. The contribution from direct-to-consumer (DTC) and control of Silver Gold Bull (SGB), Spectrum Group International (SGI), Pinehurst Coin Exchange, and AMS Holdings was central to this margin expansion, although selling, general, and administrative (SG) expenses more than doubled year-over-year in the fourth quarter.

-- Carrie Dixon, CFO

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Source Fool.com