Gold.com Flips to Profit After a Year-Earlier Loss

The Tip Desk · November 11, 2026 · 3 min read

Gross profit rose 23% to $89.6 million in the fiscal first quarter ended September 30, 2026, even as revenue fell 11% to $3.265 billion.

Gold.com, Inc. (GOLD), a fully integrated alternative assets platform, swung to net income of $1.6 million, or $0.05 a share, in the fiscal first quarter ended September 30, 2026, from a net loss of $0.9 million, or $0.04 a share, a year earlier.

Revenue declined 11% to $3.265 billion from $3.681 billion in the year-ago quarter. The company said the drop reflected a $1.368 billion decrease in forward sales. Excluding that decline, it said revenue increased $0.953 billion, or 51%, on higher average selling prices for gold and silver, more ounces sold, and the January 2026 Monex and April 2026 Silver Towne Mint acquisitions.

Gross profit rose 23% to $89.6 million, and the gross margin widened to 2.74% of revenue from 1.98% a year earlier. The company attributed the gross-profit increase to higher earnings in both Wholesale Sales & Ancillary Services and Direct-to-Consumer, including Monex and SMI, which were not in the year-ago period. Direct-to-Consumer contributed 70% of consolidated gross profit in the fiscal first quarter of 2027.

Gold ounces sold increased 5% to 463,000 from 439,000 a year earlier. Silver ounces sold increased 35% to 14.0 million from 10.4 million. Chief executive Greg Roberts said activity was higher than a year ago, with more gold and silver ounces sold and a larger customer base, and that profitability improved.

Direct-to-Consumer new customers rose 38% to 96,100 from 69,400 a year earlier. The company said the increase was primarily due to the Monex acquisition and JMB’s activity. Total Direct-to-Consumer customers stood at 4.82 million as of September 30, 2026, up 13% from 4.27 million a year earlier. Active customers were 148,600. Direct-to-Consumer average order value fell 10% to $3,482 from $3,863. JM Bullion’s average order value rose 16% to $2,943.

Selling, general and administrative expenses increased 19% to $71.2 million from $59.8 million. The company said the change was primarily due to $6.7 million higher compensation, $2.4 million higher advertising, $0.7 million higher insurance, and $0.6 million higher facilities expense, and that the quarter included $5.2 million of Monex and SMI expenses that were not included, or were not fully included, in the year-ago period. Excluding newly acquired subsidiaries, it said SG&A increased $6.2 million. Depreciation and amortization rose 20% to $9.1 million. Interest income increased 13% to $6.3 million. Interest expense decreased 1% to $12.5 million. Earnings from equity method investments were $0.5 million, compared with a $0.9 million loss a year earlier.

EBITDA increased 22% to $17.4 million from $14.3 million a year earlier. Adjusted net income before provision for income taxes increased 172% to $13.2 million from $4.9 million.

Cash declined to $126.8 million as of September 30, 2026 from $578.0 million at June 30, 2026. Deferred revenue and other advances declined to $1.439 billion from $2.140 billion. Product financing arrangements increased to $314.9 million from $89.2 million. Net cash used in operating activities was $638.6 million in the three months ended September 30, 2026, versus net cash provided of $195.4 million a year earlier.

The board declared a quarterly cash dividend of $0.20 a share, payable December 2, 2026 to stockholders of record as of November 19, 2026.