We use cookies to improve your experience, analyze site usage, and show relevant ads. Go to our Privacy Policy for details.
The call conveyed a distinctly positive performance quarter: record top‑line growth (Q3 revenue +244%), a swing to profitable results (Q3 net income ~$60M vs. a loss prior year), large EBITDA and adjusted earnings improvements, expanded liquidity and storage, and tangible benefits from recent acquisitions and the Tether partnership. Key operational metrics (gold and silver ounces sold, platform scale, minting capacity) strengthened materially. Offsetting risks include materially higher SG&A, rising interest and amortization costs largely tied to acquisitions and financing, a YoY decline in organic new customer acquisition, larger inventories and sensitivity to market structure (backwardation/contango). On balance, the positive financial and strategic developments substantially outweigh the challenges, though the company remains exposed to market volatility and integration/financing costs.
Management guided that market conditions have moderated into a more “normalized” contango environment—which they expect to see fully benefit Q4 (Apr–Jun) as backwardation-related headwinds abate—and emphasized continued integration and SG&A/gross‑profit synergies from recent acquisitions (Monnex, Sunshine now 100% owned, SGI, Pinehurst, AMS), ongoing M&A, and prioritized capital deployment (debt paydown, inventory, acquisitions, buybacks, dividends), with any special dividend to be revisited after Q4 (the board declared the regular quarterly cash dividend of $0.00). Key metrics cited in support: Q3 revenue $10.3B (+244% YoY) with gross profit $176M (1.7% margin) and net income ≈$60M ($2.09 diluted), adjusted pre‑tax income $87M, EBITDA $103.4M, cash $143.0M, non‑restricted inventory $1.319B, storage roughly doubled from $1.1B to ~$2.2B, Q3 ounces sold of 538k oz gold (+25% YoY) and 34.6M oz silver (+120% YoY), total DTC customers ~4.7M (+40% YoY) with 292,800 new Q3 DTC customers (≈58% from Monnex), secured loan portfolio $126M (+46% YoY), and strategic Tether investments of 3,370,787 shares at $44.50 ($150M total) plus $20M of XAUT.
Q3 revenue increased 244% to $10.3 billion from $3.0 billion a year ago; excluding $4.3 billion of forward sales, revenues grew $2.9 billion or 187%. Nine‑month revenue rose 142% to $20.5 billion from $8.4 billion; excluding $7.4 billion of forward sales, nine‑month revenue increased 95%.
Q3 net income (attributable to company) was $59.5–60.0 million (EPS $2.09) versus a net loss of $8 million (EPS -$0.36) in the year‑ago quarter. Nine‑month net income was $70 million versus $7 million a year ago.
Q3 gross profit rose 331% to $176 million and gross margin improved to 1.7% of revenue from 1.3% in the prior‑year quarter. Nine‑month gross profit increased 165% to $342 million (1.6% of revenue).
Q3 EBITDA jumped to $103.4 million from $1.3 million a year ago. Adjusted net income before income taxes for Q3 was $87 million versus $5.7 million in the prior‑year quarter. Nine‑month EBITDA was $151.6 million, up 329% year over year.
Q3 gold ounces sold totaled 538,000, up 25% year over year (down 1% sequentially). Q3 silver ounces sold were 34.6 million, up 120% year over year and up 86% sequentially. Nine‑month gold ounces sold ~1.5 million (up 17% YTD) and silver 63.6 million (up 10% YTD).
Monnex acquisition reported as delivering strong returns; Sunshine Mint acquisition to expand production (moved from ~45% ownership to 100%). Entered securities purchase agreement with Tether (total tranches purchased: 2,840,449 shares for $126.4M and 530,338 shares for $23.6M) and established storage, leasing and trading agreements plus a $20 million XAUT purchase.
Cash at quarter end increased to $143.0 million from $77.7 million at fiscal year‑end 2025. Storage under management roughly doubled (from ~$1.1B at 12/31/2025 to roughly ~$2.2B in May), enhancing fee and leasing opportunities.
Total DTC customers reached ~4.7 million, a 40% increase year over year (driven by acquisitions and organic growth). Q3 new customers were 292,800 (notable sequential recovery: +205% QoQ, though acquisition‑driven).
Company scaled mint production and inventory rapidly during an extremely volatile spot environment, translating elevated transaction velocity into record quarterly results and demonstrating platform scalability.
Good afternoon, and welcome to Gold.com, Inc.’s conference call for the fiscal third quarter ended 03/31/2026. My name is Matthew, and I will be your operator this afternoon. Before this call, Gold.com, Inc. issued its results for the fiscal third quarter 2026 in a press release, which is available in the Investor Relations section of the company’s website at www.gold.com. You can find the link to the Investor Relations section at the top of the home page. Joining us for today’s call are Gold.com, Inc. CEO, Gregory Roberts; President, Thor Gjerdrum; and CFO, Cary Dickson. Following their remarks, we will open the call for your questions.
Then, before we conclude the call, I will provide the necessary cautions regarding the forward-looking statements made by management during the call. I would like to remind everyone that this call is being recorded and will be made available for replay via a link available in the Investor Relations section of Gold.com, Inc.’s website. I would now like to turn the call over to Gold.com, Inc. CEO, Gregory Roberts. Sir, please proceed.
Thank you, Matt, and good afternoon, everyone. Thanks again for joining our call today. Our third quarter results reflect the strength of our fully integrated platform and our ability to capitalize on strong market conditions. As I noted on our last call, we were beginning to see a meaningful shift in market dynamics, and that momentum carried over favorably into this quarter. During the quarter, we experienced an unprecedented surge in activity across both our wholesale sales and our ancillary services as well ...