Customer and Supplier Concentrations

6 Months Ended

Dec. 31, 2025

Risks and Uncertainties [Abstract]

Customer and Supplier Concentrations

18. CUSTOMER AND SUPPLIER CONCENTRATIONS

Customer Concentrations

The following customers provided 10 percent or more of the Company's revenues (in thousands):

	Three Months Ended December 31,										Six Months Ended December 31,
	2025					2024					2025					2024
	Amount		Percent			Amount		Percent			Amount		Percent			Amount		Percent
Total revenue	$	6,476,900		100.0	%	$	2,742,345		100.0	%	$	10,157,666		100.0	%	$	5,457,441		100.0	%
Customer concentrations
HSBC Bank (1)	$	1,233,822		19.0	%	$	422,659		15.4	%	$	1,806,436		17.8	%	$	1,001,442		18.4	%
Deutsche Bank (1)		1,230,219		19.0	%		146,718		5.4	%		1,787,386		17.6	%		161,607		3.0	%
	$	2,464,041		38.0	%	$	569,377		20.8	%	$	3,593,822		35.4	%	$	1,163,049		21.4	%

(1)Sales with this trading partner include sales on forward contracts that are entered into for hedging purposes rather than sales characterized with the physical delivery of precious metal product. This sales activity has been reported within the Wholesale Sales & Ancillary Services segment.

The following customer accounted for 10 percent or more of the Company's accounts receivable (in thousands):

	December 31, 2025					June 30, 2025
	Amount		Percent			Amount		Percent
Total accounts receivable	$	558,816		100.0	%	$	137,723		100.0	%
Customer concentrations
Deutsche Bank AG	$	55,950		10.0	%	$	27,700		20.1	%

No single customer provided 10 percent or more of the Company's secured loans receivable balances as of December 31, 2025.

Supplier Concentrations

The Company buys precious metals from a variety of sources, including through brokers and dealers, from sovereign and private mints, from refiners and directly from customers. The Company believes that no one supplier or small group of suppliers is critical to its business, since other sources of supply are available that provide similar products on comparable terms.