Chrysos Corporation (ASX:C79) Announces 1H FY25 Results
Financial Performance
Chrysos Corporation reported revenue of $29.1m for the six months ended 31 December 2024, a 54% increase year-on-year. EBITDA reached $5.7m, marking a 150% growth compared to 1H FY24. The EBITDA margin expanded to 20% from 12% in the previous year. The company also recorded $0.9m in interest income and maintained a strong balance sheet with $26.9m in cash and a $95m undrawn debt facility from CBA, totaling $121.9m available for growth.
Operational Highlights
Chrysos signed six new lease agreements, bringing the total number of contracted units to 56. The adoption of PhotonAssay™ continued at the Barrick-Newmont NGM operation in Nevada, exposing Chrysos to the world’s two largest gold miners. Currently, 34 units are deployed, with two units being installed and 13 units ready for shipment and installation. The company remains focused on aligning its deployment cadence with manufacturing capacity to support medium-term growth.
Outlook
Chrysos’ PhotonAssay™ technology continues to gain global market penetration, delivering record sample volume growth despite subdued gold exploration spending. The company is monitoring market indicators for a broader improvement in the gold industry cycle and is prepared to capitalise on potential opportunities through latent unit capacity and additional lease contracts.
Executive Comments
Managing Director and CEO Dirk Treasure stated, “We are pleased to report EBITDA of $5.7m 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 $29.1m, 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.”
Motley Fool contributor Matt Burgess has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Chrysos. The Motley Fool Australia has positions in and has recommended Chrysos. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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