Chrysos Posts $15.3M Revenue in Q2, Up 12% QoQ and 53% YoY

Strong Revenue and Volume Growth

Chrysos Corporation Ltd (ASX:C79) has delivered a compelling performance in its second quarter of fiscal 2025, reporting unaudited revenue of $15.3 million. This marks a 12% increase from the previous quarter and a striking 53% rise compared to the same period last year. The surge is primarily attributed to robust international sales and a significant uptick in sample volumes processed through its PhotonAssay™ technology.

Sample volumes reached 1.6 million in Q2 FY25, reflecting an 18% quarter-on-quarter increase and a 53% year-on-year growth. This volume expansion underscores the growing adoption of Chrysos’ technology across key mining hubs worldwide, signaling strong market penetration and latent capacity to capitalize on an anticipated upswing in the gold industry cycle.

Expanding Global Footprint and Contract Wins

The company’s sales momentum continued with the signing of two new contracts during the quarter, adding to the four secured in Q1 FY25. These agreements with OceanaGold Corporation and SGS have elevated the total number of contracted PhotonAssay™ units to 56. Of these, 34 units are currently deployed across multiple geographies, including a second unit at the Barrick-Newmont Nevada Gold Mines complex, a unit in New South Wales for SGS, and Chrysos’ inaugural unit in Alaska.

This geographic diversification not only broadens Chrysos’ market reach but also demonstrates the versatility and reliability of its PhotonAssay™ technology in different operational environments. The company is carefully aligning its deployment cadence with manufacturing capacity, with 12 units either shipping or ready for installation, including three newly manufactured units.

Financial Health and Outlook

Chrysos maintains a strong financial position, ending the quarter with $26.6 million in cash and $95 million in undrawn debt facilities, which are expected to be accessed starting Q3 FY25. Operating cash inflows totaled $1.5 million for the quarter, consistent with seasonal expectations, while investments in infrastructure and next-generation PhotonAssay™ units amounted to approximately $3.5 million.

Management remains confident in achieving full-year guidance, targeting revenue between $60 million and $70 million and EBITDA ranging from $9 million to $19 million. The company continues to monitor market indicators for a potential broader recovery in the gold industry, positioning itself to leverage latent capacity and further accelerate growth.

Strategic Positioning in a Dynamic Market

Chrysos’ ongoing success reflects the increasing demand for faster, safer, and more environmentally friendly gold analysis solutions. Its PhotonAssay™ technology offers a compelling alternative to traditional fire assay methods, combining scientific innovation with software-driven precision. The company’s strategic focus on customer diversification and international expansion appears to be paying dividends, as evidenced by the strong revenue growth from EMEA and the Americas regions, which grew 42% and 305% year-on-year respectively.

Looking ahead, Chrysos is well-positioned to capture further market share as mining companies seek to improve assay accuracy and turnaround times amid fluctuating gold prices and evolving regulatory environments. The company’s ability to scale its operations while maintaining financial discipline will be critical to sustaining its growth trajectory.