Gold.com, Inc. Segments Disclosure
19. SEGMENTS AND GEOGRAPHIC INFORMATION
The Company identifies its reportable segments based on a management approach as described in Topic 280 Segment Reporting, together with additional factors such as nature of products or services, customer types, and certain economic characteristics of the underlying business. Our Chief Operating Decision Maker ("CODM") is our , Gregory Roberts. Our CODM uses segment net income before provision for income taxes to allocate resources to our segments in our annual planning process and to assess the performance of our segments, primarily by monitoring actual results versus the annual plan. Our operating segments are not evaluated using asset information.
The Company's operations are organized under three business segments (i) Wholesale Sales & Ancillary Services, (ii) Direct-to-Consumer, and (iii) Secured Lending. The Wholesale Sales & Ancillary Services segment includes the consolidating eliminations of inter-segment transactions and unallocated segment adjustments. See Note 1 for a description of the types of products and services from which each reportable segment derives its revenues.
Revenue
in thousands |
|
|
Year Ended June 30, |
|||||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|
|||
Revenue by segment (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
10,259,300 |
|
|
|
$ |
9,253,473 |
|
|
|
$ |
8,753,549 |
|
|
Eliminations of inter-segment sales |
|
|
|
(1,563,943 |
) |
|
|
|
(1,006,103 |
) |
|
|
|
(1,464,410 |
) |
|
Wholesale Sales & Ancillary Services, net of eliminations (2) |
|
|
|
8,695,357 |
|
|
|
|
8,247,370 |
|
|
|
|
7,289,139 |
|
|
Direct-to-Consumer |
|
|
|
2,283,257 |
|
(a) |
|
|
1,451,669 |
|
(b) |
|
|
1,997,422 |
|
(c) |
|
|
|
$ |
10,978,614 |
|
|
|
$ |
9,699,039 |
|
|
|
$ |
9,286,561 |
|
|
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Revenue by geographic region |
|
|
|
|
|
|
|
|
|
|
|
|
|||
United States |
|
|
$ |
4,004,172 |
|
|
|
$ |
4,722,191 |
|
|
|
$ |
5,634,423 |
|
Europe |
|
|
|
4,910,399 |
|
|
|
|
4,290,701 |
|
|
|
|
2,780,015 |
|
Canada |
|
|
|
1,790,972 |
|
|
|
|
599,873 |
|
|
|
|
837,504 |
|
Asia Pacific |
|
|
|
258,098 |
|
|
|
|
80,997 |
|
|
|
|
26,891 |
|
Africa |
|
|
|
260 |
|
|
|
|
12 |
|
|
|
|
- |
|
Australia |
|
|
|
14,698 |
|
|
|
|
5,265 |
|
|
|
|
7,728 |
|
South America |
|
|
|
15 |
|
|
|
|
- |
|
|
|
|
- |
|
|
|
|
$ |
10,978,614 |
|
|
|
$ |
9,699,039 |
|
|
|
$ |
9,286,561 |
|
Cost of Sales
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Cost of sales by segment(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
10,174,345 |
|
|
|
$ |
9,168,700 |
|
|
|
$ |
8,626,733 |
|
Eliminations and adjustments |
|
|
|
(1,564,863 |
) |
|
|
|
(1,011,539 |
) |
|
|
|
(1,463,272 |
) |
Wholesale Sales & Ancillary Services, net of eliminations and adjustments |
|
|
|
8,609,482 |
|
|
|
|
8,157,161 |
|
|
|
|
7,163,461 |
|
Direct-to-Consumer, net of eliminations |
|
|
|
2,158,216 |
|
|
|
|
1,368,623 |
|
|
|
|
1,828,431 |
|
|
|
|
$ |
10,767,698 |
|
|
|
$ |
9,525,784 |
|
|
|
$ |
8,991,892 |
|
Gross Profit and Gross Margin Percentage
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Gross profit by segment(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
84,955 |
|
|
|
$ |
84,773 |
|
|
|
$ |
126,816 |
|
Eliminations and adjustments |
|
|
|
920 |
|
|
|
|
5,436 |
|
|
|
|
(1,138 |
) |
Wholesale Sales & Ancillary Services, net of eliminations and adjustments |
|
|
|
85,875 |
|
|
|
|
90,209 |
|
|
|
|
125,678 |
|
Direct-to-Consumer, net of eliminations |
|
|
|
125,041 |
|
|
|
|
83,046 |
|
|
|
|
168,991 |
|
|
|
|
$ |
210,916 |
|
|
|
$ |
173,255 |
|
|
|
$ |
294,669 |
|
Gross margin percentage by segment |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
|
0.828 |
% |
|
|
|
0.916 |
% |
|
|
|
1.449 |
% |
Wholesale Sales & Ancillary Services, net of eliminations and adjustments |
|
|
|
0.988 |
% |
|
|
|
1.094 |
% |
|
|
|
1.724 |
% |
Direct-to-Consumer |
|
|
|
5.476 |
% |
|
|
|
5.721 |
% |
|
|
|
8.460 |
% |
Consolidated gross margin percentage |
|
|
|
1.921 |
% |
|
|
|
1.786 |
% |
|
|
|
3.173 |
% |
Operating Income and (Expenses)
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Operating income (expenses) by segment |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
(92,627 |
) |
|
|
$ |
(38,235 |
) |
|
|
$ |
(34,939 |
) |
Eliminations |
|
|
|
(508 |
) |
|
|
|
(123 |
) |
|
|
|
(247 |
) |
Wholesale Sales & Ancillary Services, net of eliminations |
|
|
$ |
(93,135 |
) |
|
|
$ |
(38,358 |
) |
|
|
$ |
(35,186 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services, net of eliminations |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Selling, general, and administrative expenses |
|
|
$ |
(59,019 |
) |
|
|
$ |
(45,968 |
) |
|
|
$ |
(40,181 |
) |
Depreciation and amortization expense |
|
|
|
(3,909 |
) |
|
|
|
(1,860 |
) |
|
|
|
(970 |
) |
Interest income |
|
|
|
15,134 |
|
|
|
|
15,730 |
|
|
|
|
12,523 |
|
Interest expense |
|
|
|
(37,709 |
) |
|
|
|
(28,252 |
) |
|
|
|
(19,660 |
) |
Earnings (losses) from equity method investments |
|
|
|
(2,982 |
) |
|
|
|
3,998 |
|
|
|
|
12,575 |
|
Other income, net |
|
|
|
1,299 |
|
|
|
|
1,064 |
|
|
|
|
161 |
|
Remeasurement gain (loss) on pre-existing equity interests |
|
|
|
(5,143 |
) |
|
|
|
16,669 |
|
|
|
|
— |
|
Unrealized (losses) gains on foreign exchange |
|
|
|
(806 |
) |
|
|
|
261 |
|
|
|
|
366 |
|
|
|
|
$ |
(93,135 |
) |
|
|
$ |
(38,358 |
) |
|
|
$ |
(35,186 |
) |
Direct-to-Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Selling, general, and administrative expenses |
|
|
$ |
(78,995 |
) |
|
|
$ |
(42,456 |
) |
|
|
$ |
(42,976 |
) |
Depreciation and amortization expense |
|
|
|
(19,007 |
) |
|
|
|
(9,273 |
) |
|
|
|
(11,204 |
) |
Interest income |
|
|
|
146 |
|
|
|
|
3 |
|
|
|
|
— |
|
Interest expense |
|
|
|
(2,255 |
) |
|
|
|
(2,838 |
) |
|
|
|
(4,098 |
) |
Earnings from equity method investments |
|
|
|
— |
|
|
|
|
14 |
|
|
|
|
— |
|
Other income, net |
|
|
|
— |
|
|
|
|
5 |
|
|
|
|
142 |
|
Unrealized gains (losses) on foreign exchange |
|
|
|
(535 |
) |
|
|
|
38 |
|
|
|
|
— |
|
|
|
|
$ |
(100,646 |
) |
|
|
$ |
(54,507 |
) |
|
|
$ |
(58,136 |
) |
Secured Lending |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Selling, general, and administrative expenses |
|
|
$ |
(1,179 |
) |
|
|
$ |
(1,376 |
) |
|
|
$ |
(2,125 |
) |
Depreciation and amortization expense |
|
|
|
(4 |
) |
|
|
|
(264 |
) |
|
|
|
(351 |
) |
Interest income |
|
|
|
10,668 |
|
|
|
|
11,435 |
|
|
|
|
9,708 |
|
Interest expense |
|
|
|
(6,239 |
) |
|
|
|
(8,441 |
) |
|
|
|
(7,770 |
) |
Earnings from equity method investments |
|
|
|
157 |
|
|
|
|
32 |
|
|
|
|
1 |
|
Other income, net |
|
|
|
732 |
|
|
|
|
1,002 |
|
|
|
|
2,360 |
|
|
|
|
$ |
4,135 |
|
|
|
$ |
2,388 |
|
|
|
$ |
1,823 |
|
Net Income Before Provision for Income Taxes
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Net income (loss) before provision for income taxes by segment |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
(7,260 |
) |
|
|
$ |
51,851 |
|
|
|
$ |
90,492 |
|
Direct-to-Consumer |
|
|
|
24,395 |
|
|
|
|
28,539 |
|
|
|
|
110,855 |
|
Secured Lending |
|
|
|
4,135 |
|
|
|
|
2,388 |
|
|
|
|
1,823 |
|
|
|
|
$ |
21,270 |
|
|
|
$ |
82,778 |
|
|
|
$ |
203,170 |
|
Advertising Expense
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Advertising expense by segment |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
(3,849 |
) |
|
|
$ |
(2,402 |
) |
|
|
$ |
(1,639 |
) |
Direct-to-Consumer |
|
|
|
(19,625 |
) |
|
|
|
(12,620 |
) |
|
|
|
(14,001 |
) |
Secured Lending |
|
|
|
(224 |
) |
|
|
|
(231 |
) |
|
|
|
(237 |
) |
|
|
|
$ |
(23,698 |
) |
|
|
$ |
(15,253 |
) |
|
|
$ |
(15,877 |
) |
Capital Expenditures for Long-Lived Assets
in thousands |
|
|
Year Ended June 30, |
|
|||||||||||
|
|
|
2025 |
|
|
|
2024 |
|
|
|
2023 |
|
|||
Capital expenditures for long-lived assets by segment |
|
|
|
|
|
|
|
|
|
|
|
|
|||
Wholesale Sales & Ancillary Services |
|
|
$ |
(8,973 |
) |
|
|
$ |
(6,522 |
) |
|
|
$ |
(3,173 |
) |
Direct-to-Consumer |
|
|
|
(1,705 |
) |
|
|
|
(9,249 |
) |
|
|
|
(6,610 |
) |
|
|
|
$ |
(10,678 |
) |
|
|
$ |
(15,771 |
) |
|
|
$ |
(9,783 |
) |
Inventories
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Inventories by segment |
|
|
|
|
|
|
|
||
Wholesale Sales & Ancillary Services |
|
$ |
1,049,200 |
|
|
|
$ |
924,804 |
|
Direct-to-Consumer |
|
|
230,345 |
|
|
|
|
172,340 |
|
|
|
$ |
1,279,545 |
|
|
|
$ |
1,097,144 |
|
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Inventories by geographic region |
|
|
|
|
|
|
|
||
United States |
|
$ |
1,150,678 |
|
|
|
$ |
989,272 |
|
North America, excluding United States |
|
|
52,225 |
|
|
|
|
53,648 |
|
Europe |
|
|
32,987 |
|
|
|
|
18,519 |
|
Asia |
|
|
43,655 |
|
|
|
|
35,705 |
|
|
|
$ |
1,279,545 |
|
|
|
$ |
1,097,144 |
|
Total Assets
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Total assets by segment |
|
|
|
|
|
|
|
||
Wholesale Sales & Ancillary Services (1) |
|
$ |
1,485,370 |
|
|
|
$ |
1,262,385 |
|
Eliminations |
|
|
(211,144 |
) |
|
|
|
(240,380 |
) |
Wholesale Sales & Ancillary Services, net of eliminations |
|
|
1,274,226 |
|
|
|
|
1,022,005 |
|
Direct-to-Consumer |
|
|
844,760 |
|
|
|
|
690,547 |
|
Secured Lending |
|
|
96,445 |
|
|
|
|
115,268 |
|
|
|
$ |
2,215,431 |
|
|
|
$ |
1,827,820 |
|
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Total assets by geographic region |
|
|
|
|
|
|
|
||
United States |
|
$ |
1,917,452 |
|
|
|
$ |
1,539,395 |
|
North America, excluding United States |
|
|
169,864 |
|
|
|
|
188,100 |
|
Europe |
|
|
40,625 |
|
|
|
|
20,512 |
|
Asia |
|
|
87,490 |
|
|
|
|
79,813 |
|
|
|
$ |
2,215,431 |
|
|
|
$ |
1,827,820 |
|
Long-term Assets
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Long-term assets by segment |
|
|
|
|
|
|
|
||
Wholesale Sales & Ancillary Services |
|
$ |
120,348 |
|
|
|
$ |
109,643 |
|
Direct-to-Consumer |
|
|
349,394 |
|
|
|
|
273,933 |
|
Secured Lending |
|
|
2,194 |
|
|
|
|
2,041 |
|
|
|
$ |
471,936 |
|
|
|
$ |
385,617 |
|
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Long-term assets by geographic region |
|
|
|
|
|
|
|
||
United States |
|
$ |
334,199 |
|
|
|
$ |
238,169 |
|
North America, excluding United States |
|
|
106,405 |
|
|
|
|
114,475 |
|
Europe |
|
|
2 |
|
|
|
|
2 |
|
Asia |
|
|
31,330 |
|
|
|
|
32,971 |
|
|
|
$ |
471,936 |
|
|
|
$ |
385,617 |
|
Goodwill
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Goodwill by segment |
|
|
|
|
|
|
|
||
Wholesale Sales & Ancillary Services |
|
$ |
39,191 |
|
|
|
$ |
29,915 |
|
Direct-to-Consumer(1) |
|
|
189,459 |
|
|
|
|
170,022 |
|
|
|
$ |
228,650 |
|
|
|
$ |
199,937 |
|
Intangible assets
in thousands |
|
|
|
|
|
|
|
||
|
|
June 30, 2025 |
|
|
|
June 30, 2024 |
|
||
Intangible assets by segment |
|
|
|
|
|
|
|
||
Wholesale Sales & Ancillary Services |
|
$ |
18,322 |
|
|
|
$ |
12,586 |
|
Direct-to-Consumer(1) |
|
|
118,992 |
|
|
|
|
89,077 |
|
|
|
$ |
137,314 |
|
|
|
$ |
101,663 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 11, 2025 | Showing above |
| 2024 | Sep 13, 2024 | |
| 2023 | Sep 12, 2023 | |
| 2022 | Sep 2, 2022 | |
| 2021 | Sep 13, 2021 | |
| 2020 | Sep 14, 2020 | |
| 2019 | Sep 16, 2019 | |
| 2018 | Sep 19, 2018 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.