$11.6 Million in Net Income and $33.9 Million in non-GAAP EBITDA in Q2 FY 2026
Company Announces Quarterly Cash Dividend
Completes Rebrand to Gold.com and Transition to New York Stock Exchange (NYSE:GOLD)
COSTA MESA, Calif., Feb. 05, 2026 (GLOBE NEWSWIRE) -- Gold.com, Inc. (NYSE:GOLD), ("Gold.com" or the "Company"), a fully integrated alternative assets platform that offers an extensive range of precious metals, numismatic coins, and collectibles to consumers, collectors, and institutional clients worldwide, reported results for the fiscal second quarter ended December 31, 2025.
Management Commentary
"Our second quarter results demonstrate our ability to successfully navigate rapidly evolving market conditions," said Gold.com CEO Greg Roberts. "During the quarter, we experienced an increase in consumer demand across our platforms, however, premium spreads remained tight and backwardation in the silver market contributed to trading losses and higher interest expense due to increases in product financing and precious metals lease rates. Despite these headwinds, we delivered $11.6 million in net income and earnings of $0.46 per diluted share, demonstrating the resilience of our diversified platform and disciplined approach to managing market volatility.
"During the quarter, we completed several important strategic initiatives, including our rebranding from A-Mark Precious Metals to Gold.com, the transfer of our stock listing from NASDAQ to the New York Stock Exchange under the ticker symbol "GOLD", and the relocation of our corporate headquarters to Costa Mesa, California. In January 2026, we closed the acquisition of Monex Deposit Company, one of the largest and most established direct-to-consumer precious metal dealers in the United States. These milestones reflect the continued evolution of our business and position us to enhance our visibility, liquidity, and alignment with our long-term strategy. We are also making meaningful progress in optimizing our expense structure and in unlocking synergies from our recent acquisitions as we continue to integrate these businesses and realize additional cost savings. Internationally, performance at LPM in Hong Kong remains strong, with both retail showroom activity and wholesale trading volumes showing positive momentum. Asia continues to represent an attractive long-term growth opportunity, and we remain focused on expanding our presence across the region.
"With an expanded portfolio of brands, improved operational leverage, and continued international focus, we believe Gold.com is well-positioned to capture growth across multiple channels and deliver long-term value for our shareholders."
Three Months Ended December 31,
2025
2024
(in thousands, except Earnings per Share)
Selected Key Financial Statement Metrics:
Revenues
$
6,476,900
$
2,742,345
Gross profit
$
93,370
$
44,767
Depreciation and amortization expense
$
(7,638
)
$
(4,639
)
Net income attributable to the Company
$
11,636
$
6,558
Earnings per Share:
Basic
$
0.47
$
0.28
Diluted
$
0.46
$
0.27
Non-GAAP Measures(1):
Adjusted net income before provision for income taxes
$
23,216
$
13,363
EBITDA
$
33,879
$
16,224
(1) See Reconciliation of U.S. GAAP to Non-GAAP Measures below and on pages 23-25
A reconciliation of net income before provision for income taxes to adjusted net income before provision for income taxes for the three months ended December 31, 2025 and 2024 follows (in thousands):
Three Months Ended December 31,
2025
2024
Net income before provision for income taxes
$
15,777
$
8,016
Adjustments:
Contingent consideration fair value adjustment
(320
)
20
Acquisition costs
121
688
Amortization of acquired intangibles
5,181
3,790
Depreciation expense
2,457
849
Adjusted net income before provision for income taxes (non-GAAP)
$
23,216
$
13,363
Three Months Ended
December 31, 2025
September 30, 2025
(in thousands, except Earnings (Loss) per Share)
Selected Key Financial Statement Metrics:
Revenues
$
6,476,900
$
3,680,766
Gross profit
$
93,370
$
72,897
Depreciation and amortization expense
$
(7,638
)
$
(7,583
)
Net income (loss) attributable to the Company
$
11,636
$
(939
)
Earnings (Loss) per Share:
Basic
$
0.47
$
(0.04
)
Diluted
$
0.46
$
(0.04
)
Non-GAAP Measures(1):
Adjusted net income before provision for income taxes
$
23,216
$
4,872
EBITDA
$
33,879
$
14,301
(1) See Reconciliation of U.S. GAAP to Non-GAAP Measures below and on pages 23-25
A reconciliation of net income (loss) before provision for income taxes to adjusted net income before provision for income taxes for the three months ended December 31, 2025 and September 30, 2025 follows (in thousands):
Three Months Ended
December 31, 2025
September 30, 2025
Net income (loss) before provision for income taxes
$
15,777
$
(311
)
Adjustments:
Contingent consideration fair value adjustment
(320
)
(2,461
)
Acquisition costs
121
61
Amortization of acquired intangibles
5,181
5,202
Depreciation expense
2,457
2,381
Adjusted net income before provision for income taxes (non-GAAP)
$
23,216
$
4,872
Fiscal Second Quarter 2026 Financial Highlights
Revenues for the three months ended December 31, 2025 increased 136% to $6.477 billion from $2.742 billion for the three months ended December 31, 2024, and increased 76% from $3.681 billion for the three months ended September 30, 2025
Gross profit for the three months ended December 31, 2025 increased 109% to $93.4 million from $44.8 million for the three months ended December 31, 2024, and increased 28% from $72.9 million for the three months ended September 30, 2025
Gross profit margin for the three months ended December 31, 2025 decreased to 1.44% of revenue, from 1.63% of revenue for the three months ended December 31, 2024, and decreased from 1.98% of revenue for the three months ended September 30, 2025
Net income (loss) attributable to the Company for the three months ended December 31, 2025 increased 77% to $11.6 million from $6.6 million for the three months ended December 31, 2024, and increased 1,339% from a net loss of ($0.9) million for the three months ended September 30, 2025
Diluted earnings (loss) per share totaled $0.46 for the three months ended December 31, 2025, a 70% increase compared to $0.27 for the three months ended December 31, 2024, and increased 1,250% from ($0.04) for the three months ended September 30, 2025
Adjusted net income before provision for income taxes, depreciation, amortization, acquisition costs, and contingent consideration fair value adjustments ("Adjusted net income before provision for income taxes" or "Adjusted net income"), a non-GAAP financial performance measure, for the three months ended December 31, 2025 increased 74% to $23.2 million from $13.4 million for the three months ended December 31, 2024, and increased 377% from $4.9 million for the three months ended September 30, 2025
Earnings before interest, taxes, depreciation and amortization ("EBITDA"), a non-GAAP liquidity measure, for the three months ended December 31, 2025 increased 109% to $33.9 million from $16.2 million for the three months ended December 31, 2024, and increased 137% from $14.3 million for the three months ended September 30, 2025
Six Months Ended December 31,
2025
2024
(in thousands, except Earnings per Share)
Selected Key Financial Statement Metrics:
Revenues
$
10,157,666
$
5,457,441
Gross profit
$
166,267
$
88,210
Depreciation and amortization expense
$
(15,221
)
$
(9,348
)
Net income attributable to the Company
$
10,697
$
15,542
Earnings per Share:
Basic
$
0.43
$
0.67
Diluted
$
0.42
$
0.65
Non-GAAP Measures(1):
Adjusted net income before provision for income taxes
$
28,088
$
28,147
EBITDA
$
48,180
$
34,006
(1) See Reconciliation of U.S. GAAP to Non-GAAP Measures below and on pages 23-25
A reconciliation of net income before provision for income taxes to adjusted net income before provision for income taxes for the six months ended December 31, 2025 and 2024 follows (in thousands):
Six Months Ended December 31,
2025
2024
Net income before provision for income taxes
$
15,466
$
18,189
Adjustments:
Contingent consideration fair value adjustment
(2,781
)
(130
)
Acquisition costs
182
740
Amortization of acquired intangibles
10,383
7,654
Depreciation expense
4,838
1,694
Adjusted net income before provision for income taxes (non-GAAP)
$
28,088
$
28,147
Fiscal Six Months 2026 Financial Highlights
Revenues for the six months ended December 31, 2025 increased 86% to $10.158 billion from $5.457 billion for the six months ended December 31, 2024
Gross profit for the six months ended December 31, 2025 increased 88% to $166.3 million from $88.2 million for the six months ended December 31, 2024
Gross profit margin for the six months ended December 31, 2025 increased to 1.64% of revenue from 1.62% of revenue for the six months ended December 31, 2024
Net income attributable to the Company for the six months ended December 31, 2025 decreased 31% to $10.7 million from $15.5 million for the six months ended December 31, 2024
Diluted earnings per share totaled $0.42 for the six months ended December 31, 2025, a 35% decrease compared to $0.65 for the six months ended December 31, 2024
Adjusted net income before provision for income taxes for the six months ended December 31, 2025 totaled $28.1 million, which was consistent with $28.1 million for the six months ended December 31, 2024
EBITDA for the six months ended December 31, 2025 increased 42% to $48.2 million from $34.0 million for the six months ended December 31, 2024
Three Months Ended December 31,
2025
2024
Selected Operating and Financial Metrics:
Gold ounces sold(1)
545,000
466,000
Silver ounces sold(2)
18,635,000
21,828,000
Number of secured loans at period end(3)
355
518
Secured loans receivable at period end
$
120,351,000
$
98,461,000
Direct-to-Consumer ("DTC") number of new customers(4)
96,100
65,400
Direct-to-Consumer number of active customers(5)
229,100
140,100
Direct-to-Consumer number of total customers(6)
4,361,500
3,187,500
Direct-to-Consumer average order value ("AOV")(7)
$
4,824
$
3,178
JM Bullion ("JMB") average order value(8)
$
2,637
$
2,043
CyberMetals number of new customers(9)
1,400
2,000
CyberMetals number of active customers(10)
1,900
1,700
CyberMetals number of total customers(11)
40,000
33,100
CyberMetals customer assets under management at period end(12)
$
18,900,000
$
8,200,000
(1) Gold ounces sold represents the ounces of gold product sold and delivered to the customer during the period, excluding ounces of gold recorded on forward contracts.
(2) Silver ounces sold represents the ounces of silver product sold and delivered to the customer during the period, excluding ounces of silver recorded on forward contracts.
(3) Number of outstanding secured loans to customers that are primarily collateralized by precious metals at the end of the period.
(4) DTC number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period within the Direct-to-Consumer segment.
(5) DTC number of active customers represents the number of customers that have made a purchase during any month during the period within the Direct-to-Consumer segment.
(6) DTC number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past within the Direct-to-Consumer segment.
(7) DTC AOV represents the average dollar value of product orders (excluding accumulation program orders) delivered to the customer during the period within the Direct-to-Consumer segment.
(8) JMB AOV represents the average dollar value of product orders delivered to JMB's customers during the period.
(9) CyberMetals number of new customers represents the number of customers that have registered or set up a new account or have made a purchase for the first time during the period on the CyberMetals platform.
(10) CyberMetals number of active customers represents the number of customers that have made a purchase during any month during the period from the CyberMetals platform.
(11) CyberMetals number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past from the CyberMetals platform.
(12) CyberMetals customer assets under management represents the total value of assets managed by the Company on behalf of CyberMetals customers.
Three Months Ended
December 31, 2025
September 30, 2025
Selected Operating and Financial Metrics:
Gold ounces sold(1)
545,000
439,000
Silver ounces sold(2)
18,635,000
10,391,000
Number of secured loans at period end(3)
355
424
Secured loans receivable at period end
$
120,351,000
$
103,633,000
Direct-to-Consumer ("DTC") number of new customers(4)
96,100
69,400
Direct-to-Consumer number of active customers(5)
229,100
147,300
Direct-to-Consumer number of total customers(6)
4,361,500
4,265,400
Direct-to-Consumer average order value ("AOV")(7)
$
4,824
$
3,863
JM Bullion ("JMB") average order value(8)
$
2,637
$
2,544
CyberMetals number of new customers(9)
1,400
1,700
CyberMetals number of active customers(10)
1,900
1,800
CyberMetals number of total customers(11)
40,000
38,700
CyberMetals customer assets under management at period end(12)
$
18,900,000
$
13,800,000
(1) Gold ounces sold represents the ounces of gold product sold and delivered to the customer during the period, excluding ounces of gold recorded on forward contracts.
(2) Silver ounces sold represents the ounces of silver product sold and delivered to the customer during the period, excluding ounces of silver recorded on forward contracts.
(3) Number of outstanding secured loans to customers that are primarily collateralized by precious metals at the end of the period.
(4) DTC number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period within the Direct-to-Consumer segment.
(5) DTC number of active customers represents the number of customers that have made a purchase during any month during the period within the Direct-to-Consumer segment.
(6) DTC number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past within the Direct-to-Consumer segment.
(7) DTC AOV represents the average dollar value of product orders (excluding accumulation program orders) delivered to the customer during the period within the Direct-to-Consumer segment.
(8) JMB AOV represents the average dollar value of product orders delivered to JMB's customers during the period.
(9) CyberMetals number of new customers represents the number of customers that have registered or set up a new account or have made a purchase for the first time during the period on the CyberMetals platform.
(10) CyberMetals number of active customers represents the number of customers that have made a purchase during any month during the period from the CyberMetals platform.
(11) CyberMetals number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past from the CyberMetals platform.
(12) CyberMetals customer assets under management represents the total value of assets managed by the Company on behalf of CyberMetals customers.
Fiscal Second Quarter 2026 Operational Highlights
Gold ounces sold in the three months ended December 31, 2025 increased 17% to 545,000 ounces from 466,000 ounces for the three months ended December 31, 2024, and increased 24% from 439,000 ounces for the three months ended September 30, 2025
Silver ounces sold in the three months ended December 31, 2025 decreased 15% to 18.6 million ounces from 21.8 million ounces for the three months ended December 31, 2024, and increased 79% from 10.4 million ounces for the three months ended September 30, 2025
As of December 31, 2025, the number of secured loans decreased 31% to 355 from 518 as of December 31, 2024, and decreased 16% from 424 as of September 30, 2025
Direct-to-Consumer new customers for the three months ended December 31, 2025 increased 47% to 96,100 from 65,400 for the three months ended December 31, 2024, and increased 38% from 69,400 for the three months ended September 30, 2025
Direct-to-Consumer active customers for the three months ended December 31, 2025 increased 64% to 229,100 from 140,100 for the three months ended December 31, 2024, and increased 56% from 147,300 for the three months ended September 30, 2025
Direct-to-Consumer average order value for the three months ended December 31, 2025 increased $1,646, or 52% to $4,824 from $3,178 for the three months ended December 31, 2024, and increased $961, or 25% from $3,863 for the three months ended September 30, 2025
JM Bullion's average order value for the three months ended December 31, 2025 increased $594, or 29% to $2,637 from $2,043 for the three months ended December 31, 2024, and increased $93, or 4% from $2,544 for the three months ended September 30, 2025
Six Months Ended December 31,
2025
2024
Selected Operating and Financial Metrics:
Gold ounces sold(1)
984,000
864,000
Silver ounces sold(2)
29,026,000
42,277,000
Number of secured loans at period end(3)
355
518
Secured loans receivable at period end
$
120,351,000
$
98,461,000
Direct-to-Consumer ("DTC") number of new customers(4)
165,500
120,700
Direct-to-Consumer number of active customers(5)
376,400
270,000
Direct-to-Consumer number of total customers(6)
4,361,500
3,187,500
Direct-to-Consumer average order value ("AOV")(7)
$
4,435
$
3,077
JM Bullion ("JMB") average order value(8)
$
2,602
$
2,117
CyberMetals number of new customers(9)
3,100
3,500
CyberMetals number of active customers(10)
3,700
3,400
CyberMetals number of total customers(11)
40,000
33,100
CyberMetals customer assets under management at period end(12)
$
18,900,000
$
8,200,000
(1) Gold ounces sold represents the ounces of gold product sold and delivered to the customer during the period, excluding ounces of gold recorded on forward contracts.
(2) Silver ounces sold represents the ounces of silver product sold and delivered to the customer during the period, excluding ounces of silver recorded on forward contracts.
(3) Number of outstanding secured loans to customers that are primarily collateralized by precious metals at the end of the period.
(4) DTC number of new customers represents the number of customers that have registered or set up a new account or made a purchase for the first time during the period within the Direct-to-Consumer segment.
(5) DTC number of active customers represents the number of customers that have made a purchase during any month during the period within the Direct-to-Consumer segment.
(6) DTC number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past within the Direct-to-Consumer segment.
(7) DTC AOV represents the average dollar value of product orders (excluding accumulation program orders) delivered to the customer during the period within the Direct-to-Consumer segment.
(8) JMB AOV represents the average dollar value of product orders delivered to JMB's customers during the period.
(9) CyberMetals number of new customers represents the number of customers that have registered or set up a new account or have made a purchase for the first time during the period on the CyberMetals platform.
(10) CyberMetals number of active customers represents the number of customers that have made a purchase during any month during the period from the CyberMetals platform.
(11) CyberMetals number of total customers represents the aggregate number of customers that have registered or set up an account or have made a purchase in the past from the CyberMetals platform.
(12) CyberMetals customer assets under management represents the total value of assets managed by the Company on behalf of CyberMetals customers.
Fiscal Six Months 2026 Operational Highlights
Gold ounces sold in the six months ended December 31, 2025 increased 14% to 984,000 ounces from 864,000 ounces for the six months ended December 31, 2024
Silver ounces sold in the six months ended December 31, 2025 decreased 31% to 29.0 million ounces from 42.3 million ounces for the six months ended December 31, 2024
Direct-to-Consumer new customers for the six months ended December 31, 2025 increased 37% to 165,500 from 120,700 for the six months ended December 31, 2024
Direct-to-Consumer active customers for the six months ended December 31, 2025 increased 39% to 376,400 from 270,000 for the six months ended December 31, 2024
Direct-to-Consumer average order value for the six months ended December 31, 2025 increased $1,358, or 44% to $4,435 from $3,077 for the six months ended December 31, 2024
JM Bullion's average order value for the six months ended December 31, 2025 increased $485, or 23% to $2,602 from $2,117 for the six months ended December 31, 2024
Fiscal Second Quarter 2026 Financial Summary
Revenues increased 136% to $6.477 billion from $2.742 billion in the same year-ago quarter. Excluding an increase of $2.494 billion of forward sales, our revenues increased $1.241 billion, or 69.0%, which was due to higher average selling prices of gold and silver as well as an increase in gold ounces sold, partially offset by a decrease in silver ounces sold. Revenues also increased due to the acquisitions of SGI and Pinehurst in February 2025 and AMS in April 2025.
Gross profit increased 109% to $93.4 million (1.44% of revenue) from $44.8 million (1.63% of revenue) in the same year-ago quarter. The overall gross profit increase was due to an increase in gross profits earned by both the Wholesale Sales & Ancillary Services segment and the Direct-to-Consumer segment, including the acquisitions of SGI, Pinehurst, and AMS which were not included in the same year-ago period, partially offset by lower trading profits. The Direct-to-Consumer segment contributed 77% and 56% of the consolidated gross profit in the fiscal second quarters of 2026 and 2025, respectively. Gross profit contributed by JMB represented 29% of the consolidated gross profit in the fiscal second quarter of 2026 and 38% of the consolidated gross profit for the prior year fiscal second quarter.
Selling, general and administrative expenses increased 132% to $59.8 million from $25.8 million in the same year-ago quarter. The change was primarily due to an increase in compensation expense, including performance-based accruals, of $21.6 million, higher advertising costs of $4.8 million, an increase in consulting and professional fees of $2.7 million, an increase in facilities expense of $1.3 million, an increase in bank service and credit card fees of $1.4 million, and an increase in insurance costs of $1.0 million. Selling, general and administrative expenses for the three months ended December 31, 2025 included $29.6 million of expenses incurred by SGI, Pinehurst, and AMS, which were not included in the same year-ago period, as they were not yet consolidated subsidiaries. Excluding the increase from newly acquired subsidiaries, our selling, general and administrative expenses increased $4.4 million from the prior year period.
Depreciation and amortization expense increased 65% to $7.6 million from $4.6 million in the same year-ago quarter. The change was primarily due to an increase in amortization expense of $3.2 million relating to an increase in intangible asset amortization from intangible assets acquired through our acquisitions of SGI, Pinehurst, and AMS and an increase in depreciation expense of $1.6 million due to an increase in capital expenditures, partially offset by a decrease of $1.8 million in JMB and Silver Gold Bull, Inc. ("SGB") intangible asset amortization.
Interest income decreased 15% to $5.8 million from $6.8 million in the same year-ago quarter. The aggregate decrease in interest income was due to an decrease in other finance product income of $1.1 million, partially offset by an increase in interest income earned by our Secured Lending segment of $0.1 million.
Interest expense increased 57% to $16.3 million from $10.4 million in the same year-ago quarter. The increase in interest expense was primarily due to an increase of $3.7 million related to product financing arrangements due to higher interest rates, partially offset by reduced borrowings, an increase of $1.9 million related to precious metals leases driven by higher overall borrowings and an increase in weighted-average interest rates, and an increase of $0.1 million associated with our Trading Credit Facility due to increased borrowings, partially offset by a decrease in interest rates.
Earnings (losses) from equity method investments increased 142% to earnings of $1.0 million from a loss of $2.4 million in the same year-ago quarter. The increase was due to increased earnings of our equity method investees.
Net income attributable to the Company totaled $11.6 million or $0.46 per diluted share, compared to net income of $6.6 million or $0.27 per diluted share in the same year-ago quarter.
Adjusted net income before provision for income taxes for the three months ended December 31, 2025 totaled $23.2 million, an increase of $9.9 million or 74% compared to $13.4 million in the same year-ago quarter. The increase was due to higher net income before provision for income taxes of $7.8 million, higher depreciation expense of $1.6 million, higher ...
