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Secured Loans Receivable (Tables)
6 Months Ended
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of Receivables, net

Receivables, net consisted of the following (in thousands):

 

 

 

December 31, 2025

 

 

June 30, 2025

 

Customer trade receivables

 

$

275,344

 

 

$

88,135

 

Wholesale trade advances

 

 

34,165

 

 

 

25,008

 

Due from brokers and other

 

 

249,307

 

 

 

24,580

 

 

 

$

558,816

 

 

$

137,723

 

Schedule of Classes for Financing Receivables

The Company's secured loans by portfolio class, which align with internal management reporting, were as follows (in thousands):

 

 

December 31, 2025

 

 

June 30, 2025

 

Bullion

 

$

75,564

 

 

 

62.8

%

 

$

54,843

 

 

 

58.3

%

Numismatic and semi-numismatic

 

 

35,431

 

 

 

29.4

%

 

 

32,439

 

 

 

34.5

%

Graded sports cards

 

 

9,356

 

 

 

7.8

%

 

 

6,755

 

 

 

7.2

%

 

$

120,351

 

 

 

100.0

%

 

$

94,037

 

 

 

100.0

%

Schedule of Financing Receivable Credit Quality Indicators Below is summary of aggregate outstanding secured loan balances bifurcated into (i) loans with an LTV ratio of less than 75% and (ii) loans with an LTV ratio of 75% or more (in thousands):

 

 

 

December 31, 2025

 

 

June 30, 2025

 

Loan-to-value of less than 75%

 

$

112,190

 

 

 

93.2

%

 

$

82,936

 

 

 

88.2

%

Loan-to-value of 75% or more

 

 

8,161

 

 

 

6.8

%

 

 

11,101

 

 

 

11.8

%

 

$

120,351

 

 

 

100.0

%

 

$

94,037

 

 

 

100.0

%

Financing Receivable  
Accounts, Notes, Loans and Financing Receivable [Line Items]  
Schedule of Receivables, net

Below is a summary of the carrying value of our secured loans (in thousands):

 

 

December 31, 2025

 

 

June 30, 2025

 

Secured loans originated

 

$

115,893

 

 

$

83,360

 

Secured loans acquired

 

 

4,458

 

 

 

10,677

 

 

$

120,351

 

 

$

94,037