A-MARK PRECIOUS METALS INC (NASDAQ:AMRK) Stock Plummets 10% After-Hours on Q4 Revenue Miss Despite EPS Beat

A-MARK PRECIOUS METALS INC (NASDAQ:AMRK) has reported its fiscal fourth quarter and full-year 2025 results, revealing a mixed financial performance that has triggered a sharp negative reaction in after-hours trading. The precious metals trading firm posted both notable strengths and significant misses against analyst expectations, creating a complex picture for investors.

Earnings and Revenue Performance

The company’s fourth-quarter results showed a substantial beat on earnings per share but fell short on revenue targets. For Q4 FY2025, A-Mark reported non-GAAP EPS of $0.76, significantly exceeding the analyst consensus estimate of $0.448. However, revenue came in at approximately $2.51 billion, well below the estimated $2.97 billion.

Key figures from the report include:

• Q4 FY2025 Gross Profit: $81.7 million
• Q4 FY2025 Net Income: $10.3 million
• Full-Year FY2025 Gross Profit: $210.9 million
• Full-Year FY2025 Net Income: $17.3 million

The divergence between the earnings beat and revenue miss suggests improved operational efficiency or favorable product mix, though the top-line shortfall has clearly concerned the market.

Market Reaction

Following the earnings release, A-Mark’s stock experienced a sharp decline in after-hours trading, dropping approximately 10%. This reaction appears to be driven primarily by the revenue miss, as investors weigh the company’s ability to maintain growth momentum against challenging market conditions for precious metals trading.

Recent performance context:

• Last week: +3.16%
• Last two weeks: +0.29%
• Last month: +9.52%

The sharp after-hours sell-off represents a dramatic reversal of these recent gains and reflects investor disappointment with the revenue figures.

Forward Outlook and Analyst Estimates

While the press release did not provide specific forward guidance, analyst estimates for future periods offer a benchmark for expectations. For Q1 FY2026, analysts project revenue of approximately $2.86 billion with EPS of $0.48. Full-year FY2026 estimates anticipate revenue around $11.93 billion.

The company’s ability to exceed EPS estimates while missing revenue targets creates uncertainty about whether this performance pattern can continue in future quarters, particularly if economic conditions affecting precious metals demand remain volatile.

Press Release Highlights

The earnings announcement emphasized several positive aspects of A-Mark’s performance, particularly highlighting the company’s gross profit achievements. The $81.7 million in Q4 gross profit and $210.9 million for the full year demonstrate the company’s maintained profitability despite the revenue shortfall. The release also noted the company’s diversified business model across wholesale, direct-to-consumer, and secured lending segments, which may provide stability amid market fluctuations.

For more detailed earnings information and future estimates, readers can review additional data at the A-Mark earnings and estimates page.

Conclusion

A-Mark Precious Metals delivered a quarter of contrasting results that ultimately disappointed investors, as evidenced by the significant after-hours decline. While the company demonstrated strong profitability metrics and earnings outperformance, the substantial revenue miss has raised questions about growth sustainability. The precious metals market remains sensitive to economic conditions and investor sentiment, factors that will continue to influence A-Mark’s performance in coming quarters. Investors will be watching closely to see if the company can align its revenue performance with its profitability achievements in future reporting periods.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The content should not be interpreted as a recommendation to buy, sell, or hold any security. Readers should conduct their own research and consult with a qualified financial advisor before making investment decisions.