Chrysos Corporation Q3 FY24 Investor Update

Chrysos Corporation Limited (ASX: $C79) has reported a 92% year-on-year growth in total revenue for Q3 FY24, reaching $12.9 million. The company's international revenue now exceeds 50% of the total revenue, with a significant increase in EMEA and Americas revenue. Chrysos also disclosed a cash position of $70 million and a net available cash of $165 million for future growth. The company has deployed three new units in Q3 FY24, with two deployments and one redeployment in progress. Chrysos is well-funded to support PhotonAssay™ unit growth with cash and $95 million debt from its Green Loan facility with CBA.

Chrysos Corporation's Executive Commentary

Chrysos Corporation is pleased to announce the successful execution of our global PhotonAssay™ roll out, with 27 units deployed across four continents in key mining hubs. We are working closely with regional sales teams to drive adoption of PhotonAssay™, leading to additional sample volumes and new deployments. Despite site-readiness challenges, we are on track to deploy 9 new units and 2 redeployments by the end of FY24, which will increase our operating units by 45% compared to FY23. Our revenue diversification, with international revenue representing more than 50% of total unaudited revenue, reflects our increased global market penetration and substantial growth opportunities in the Americas and EMEA.

Chrysos Corporation's Q3 FY24 Performance and Outlook

Chrysos Corporation's Q3 FY24 performance demonstrates a robust 92% year-on-year growth in total revenue, with international revenue exceeding 50% of the total. The company's well-funded position, with $70 million cash and $95 million in undrawn debt, supports its sustainable growth. Chrysos is executing its global PhotonAssay™ roll out, with 27 units deployed and plans to add 9 new units and 2 redeployments by the end of FY24, marking a 45% increase in operating units compared to FY23. The company's favorable unit economics, strong gross margins, and projected lifetime return per unit in excess of $20 million position Chrysos for sustainable growth. With a focus on driving sample volumes, strategic partnerships, and comparative pricing approach, Chrysos aims to become the world's leading provider of innovative assay services and technologies. The company's PhotonAssay™ technology not only revolutionizes the global mining industry but also delivers tangible benefits for miners, enabling timely decision-making and additional gold recovery while ensuring meaningful OH&S and environmental benefits. Chrysos is well-positioned for capturing industry cycle upside and driving long-term profitability and growth.