A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Q1 2025 Earnings Conference Call November 6, 2024 4:30 PM ET

Company Participants

Gregory Roberts - Chief Executive Officer
Kathleen Simpson-Taylor - Chief Financial Officer
Thor Gjerdrum - President

Conference Call Participants

Thomas Forte - Maxim Group LLC
Michael Baker - D.A. Davidson & Co.
Fedor Shabalin - B. Riley Financial, Inc.
Greg Gibas - Northland Securities, Inc.

Operator

Good afternoon, and welcome to the A-Mark Precious Metals Conference call for the Fiscal First Quarter Ended September 30, 2024. My name is Matthew, and I’ll be your operator this afternoon.

Before this call, A-Mark issued its results for the fiscal first quarter 2025 in a press release, which is available in the Investor Relations section of the company’s website at www.amark.com. You can find the link in the Investor Relations section at the top of the homepage.

Joining us for today’s call are A-Mark’s CEO, Greg Roberts; President, Thor Gjerdrum; and CFO, Kathleen Simpson-Taylor. Following their remarks, we’ll open the call for your questions. Then, before we conclude the call, I’ll provide the necessary cautions regarding the forward-looking statements made by management during this call. I’d like to remind everyone that this call is being recorded and will be made available for replay via a link available on the Investor Relations section of A-Mark’s website.

Now, I’d like to turn the call over to A-Mark’s CEO, Mr. Greg Roberts. Sir, please proceed.

Gregory Roberts

Thank you, Matthew, and good afternoon, everyone. Our first quarter results reflect the continued strength of our fully integrated platform to deliver profitable results, even during slower market conditions. Despite facing a less favorable macroeconomic environment, including elevated precious metal prices and softened levels of demand, we delivered $0.37 per diluted share and generated almost $18 million in non-GAAP EBITDA.

During the quarter, we amended our Trading Credit Facility extending its maturity to September 2026, providing us with the liquidity for our future capital needs. We also advanced our A-Mark Global Logistics facility expansion and logistics automation initiatives, which are expected to be completed in the next few months. We anticipate these measures will increase operational capacity and produce efficiencies and long-term cost savings. We have also continued to make substantial progress towards establishing a trading office and DTC presence in Singapore and broadening our reach into the surrounding region.

Finally, as previously announced, Silver Towne Mint recently acquired all the assets of Regency Mint Manufacturing, including its minting equipment and its customer list, further enhancing our minting capability and expanding our customer base. We believe these initiatives position A-Mark for future success as we continue to grow and expand our business.