Shares of A-Mark Precious Metals (AMRK) tumbled 8.55% in after-hours trading on Tuesday following the release of the company's fiscal fourth quarter 2025 financial results that fell short of analyst expectations.

The precious metals trading firm reported quarterly revenue of $2.51 billion, missing the consensus estimate of $2.91 billion from four analysts surveyed by FactSet. While revenue was down only slightly from $2.52 billion in the same quarter last year, the significant miss versus expectations likely contributed to the sharp stock decline.

A-Mark's profitability also declined year-over-year, with net income falling to $10.3 million or $0.41 per diluted share, compared to $30.9 million or $1.29 per share in Q4 2024. The company cited a "challenging market, characterized by increased supply and range bound premium spreads" as impacting its results.

Despite the revenue and profit declines, A-Mark did report some positive developments. Gross profit increased 90% year-over-year to $81.7 million, driven by recent acquisitions. The company also highlighted progress on integrating its newly acquired businesses, which is expected to create cost savings and operational efficiencies going forward.

However, the revenue miss and lower profits compared to last year appear to have overshadowed these positives in investors' minds, leading to the significant after-hours stock drop. The market reaction suggests Wall Street was anticipating stronger results from A-Mark this quarter.