Chrysos Accelerates Global Growth with Newmont Deal and 46% Revenue Surge

Strong Financial Performance and Market Penetration

Chrysos Corporation Limited (ASX, C79) delivered a compelling FY25 financial performance, with total revenue rising 46% year-on-year to $66.1 million and EBITDA surging 80% to $16.1 million. This growth was underpinned by the expanding global adoption of its proprietary PhotonAssay technology, a faster, more accurate, and environmentally friendly gold analysis solution that is gaining traction among major miners and laboratories worldwide.

The company’s EBITDA margin improved to 24%, reflecting operational efficiencies and economies of scale as Chrysos scales its deployment footprint. Operating cash flow was positive at $8.8 million, supporting ongoing investments in growth capital expenditure, which reached $60.1 million to fund new unit deployments and technology enhancements.

Expanding Global Footprint and Strategic Partnerships

Chrysos now has 40 PhotonAssay units deployed across four continents, including 11 new units installed during FY25. The company has secured lease agreements for 59 units, with additional contracts signed post-period, signaling strong demand momentum. Notably, Chrysos has deepened its relationship with Newmont Corporation, the world’s largest gold mining company, through a Master Services Agreement to deploy PhotonAssay units at multiple Newmont sites, including the Ahafo gold mine in Ghana and the Merian gold mine in Suriname.

This partnership with Newmont not only validates Chrysos’ technology but also opens significant growth avenues given Newmont’s global scale. Additionally, Chrysos has established a foundational partnership with Bureau Veritas to enter the South American market, further diversifying its geographic revenue base, which already sees 65% of revenue generated outside the Asia-Pacific region.

Innovating with Next-Generation Technology

Chrysos is advancing its PhotonAssay technology with the upcoming launch of the XN generation unit, designed to improve throughput, reduce maintenance complexity, and enhance supply chain resilience. The XN unit’s smaller footprint and automation upgrades are expected to strengthen unit economics by lowering installation and operating costs while increasing capacity.

The company’s lease model, which includes Minimum Monthly Assay Payments providing stable, predictable revenue, combined with upside from Additional Assay Charges linked to exploration activity, positions Chrysos well to capture growth as global gold exploration and mining activity evolve.

Outlook and Strategic Positioning

Looking ahead, Chrysos has provided FY26 guidance projecting total revenue between $80 million and $90 million and EBITDA ranging from $20 million to $27 million. The company’s strong balance sheet, with $21.5 million in cash and $17.4 million drawn from a $95 million debt facility, underpins its capacity to sustain growth and capitalize on expanding market opportunities.

Chrysos’ strategy focuses on converting major gold mining projects to PhotonAssay technology, leveraging strategic partnerships, and expanding into new regions such as South America. With a technology protected by a robust patent portfolio and a proven lease model, Chrysos is positioned to continue disrupting the mining assay services sector.