Chrysos Corporation has reported a robust first half FY26 with revenue up 49% and EBITDA more than doubling, underpinned by record sample volumes and expanded adoption of its PhotonAssay technology. The company also secured a $200 million debt facility to fuel further growth and deployment.
- Revenue climbs 49% to $43.3 million in 1H FY26
- EBITDA surges 152% to $14.3 million with margin expanding to 33%
- Total contracted PhotonAssay units reach 72 after 14 new lease agreements
- Secured $200 million debt facility on improved terms to support expansion
- Strategic partnerships deepen with major miners and global laboratories
Strong Financial Momentum
Chrysos Corporation Ltd (ASX, C79) has delivered a standout first half for FY26, reporting total revenue of $43.3 million, a 49% increase compared to the previous corresponding period. Even more striking is the 152% jump in EBITDA to $14.3 million, lifting the margin from 20% to a robust 33%. This financial performance reflects the growing market acceptance of Chrysos’ PhotonAssay technology, which offers faster, safer, and more accurate gold analysis.
Record Sample Volumes and Expanding Footprint
The surge in revenue and earnings is driven by record assay sample volumes, approaching one million processed samples, fuelled by strong gold prices and increased exploration activity. Chrysos has expanded its footprint with eight new lease agreements signed during the half and six more post-period, bringing the total contracted units to 72. Four new PhotonAssay units were deployed in the half, including the first deployment of the next-generation “XN” unit at SGS in Perth, which promises higher throughput and simplified operation.
Strategic Partnerships and Market Penetration
Chrysos continues to deepen relationships with major miners such as Newmont and Allied Gold, with commitments to deploy PhotonAssay across multiple mine sites globally, including Suriname and West Africa. The company also secured foundational partnerships with leading global laboratories like Bureau Veritas in South America and expanded deployments with ALS in the Nordics and Kazakhstan, marking significant geographic diversification.
Financial Strength and Growth Outlook
Backing this operational momentum, Chrysos secured binding commitments for a $200 million debt facility on improved terms, set to replace and expand its existing financing. This facility, combined with a strong cash position and positive operating cash flow, provides ample runway to accelerate unit deployments throughout 2026. The company reaffirmed its FY26 guidance, targeting revenue between $80 million and $90 million and EBITDA between $20 million and $27 million, with both metrics expected to land at the upper end of these ranges.
Governance and Leadership
In a move to strengthen its governance, Chrysos appointed Elisha Civil as an Independent Non-Executive Director, bringing valuable expertise in finance and strategy within the mining and energy sectors. This addition signals Chrysos’ commitment to robust oversight as it scales its operations globally.
Bottom Line?
With strong financials and a fortified balance sheet, Chrysos is poised for accelerated growth, but execution on deployment and market adoption will be key to sustaining momentum.
Questions in the middle?
- How quickly will Chrysos convert its strong sales pipeline into deployed units in 2026?
- What impact will fluctuating gold prices have on assay volumes and revenue growth?
- How will the new $200 million debt facility influence Chrysos’ capital structure and future investment plans?