Chrysos Corporation Limited (ASX: C79) has reported strong financial growth for the first half of FY25, with total revenue rising 54% year-on-year to $29.1 million. The company also achieved a 150% increase in EBITDA, reaching $5.7 million, reflecting expanding adoption of its PhotonAssay™ technology.
Financial highlights
- Revenue: $29.1 million (up 54% from 1H FY24)
- EBITDA: $5.7 million (up 150%)
- EBITDA margin: 20% (up from 12%)
- Total contracted PhotonAssay™ units: 56 (up from 49)
- Total deployed PhotonAssay™ units: 34
- Cash on hand: $26.9 million
- Undrawn debt facility: $95 million
Chrysos has continued to expand its technology reach, with its PhotonAssay™ units now in use at Barrick-Newmont NGM operations in Nevada, providing the company with exposure to the world’s two largest gold miners.
Operational growth and new contracts
During 1H FY25, Chrysos signed six new PhotonAssay™ lease agreements, increasing its total number of contracted units to 56. The company has 34 units deployed, with two additional units currently being installed and 13 more ready for shipping and installation.
Managing Director and CEO Dirk Treasure stated:
“We are pleased to report EBITDA of $5.7 million for the half, reflecting an increase of 150% year-on-year and an expanded EBITDA margin of 20%. This result sits alongside a growth in revenue of 54% to $29.1 million, driven by record sample volumes and significant contributions from our international units.
Chrysos remains focused on accelerating our deployment cadence by broadening our customer base and deepening our pipeline.”
Strong balance sheet and cash flow
Chrysos maintained a positive operating cash flow of $6.14 million, allowing for continued reinvestment in PhotonAssay™ unit deployment. The company has $26.9 million in cash and a $95 million undrawn debt facility with CBA. Since 31 December 2024, Chrysos has drawn $18 million from this facility to fund further deployments.
FY25 guidance and outlook
- Revenue is tracking at the lower end of the company’s $60 million to $70 million guidance range.
- EBITDA is expected to be below the midpoint of its $9 million to $19 million guidance range.
Despite a subdued gold exploration market, Chrysos continues to see growing adoption of its technology.
