Barrick Gold Stock Earnings Reports

A-Mark (soon to rebrand and relist as gold.com) announced the acquisition of Monex Deposit Company to strengthen its direct-to-consumer (DTC) capabilities and expand storage assets (now >$630M). Management highlighted operational integrations and automation (consolidation of Pinehurst into AMGL, mints ramping production, LPM in Asia contributing meaningfully) and expects synergies and cost savings as they centralize operations. Q1 FY26 revenue rose 36% to $3.68B (27.6% ex-forward sales), and gross profit increased 68% to $72.9M (1.98% of revenue), driven by improved late-quarter consumer demand and contributions from recent acquisitions. However, SG&A rose 125% to $59.8M due to acquisition-related expenses; interest expense increased and equity-method earnings declined. The company reported a GAAP net loss of $0.9M (−$0.04/share), with adjusted pre-tax income and EBITDA down vs. prior year (adjusted net income before tax $4.9M, −67%; EBITDA $14.3M, −20%). Operating metrics: gold ounces sold +10% YoY (439k oz), silver ounces sold −49% YoY, DTC new customers +25% YoY (69.4k) and total DTC customers ~4.3M (up 37% YoY primarily from acquisitions). Management is cautiously optimistic after stronger demand in September/October, believes the company is well positioned for volatility, and is prioritizing integration, logistics scale (expanded automated Vegas facility), storage growth, and selective M&A. Key risks include integration execution, higher SG&A/finance costs, volatile financing/lease rates, and potential market or rebranding reception risks.