The Chrysos Corporation Ltd (ASX: C79) share price is in focus today after the company reported record earnings for FY26, driven by strong global demand for its PhotonAssayTM technology. Total revenue climbed 33% to $88.1 million, and EBITDA surged 68% to $27.2 million, both at the upper end of previous guidance.
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What did Chrysos report?
- Total revenue of $88.1 million, up 33% from $66.1 million in FY25
- EBITDA rose 68% to $27.2 million, with the margin improving to 31% (up from 24%)
- Record 11.3 million samples processed, up 67% year on year
- 24 new lease agreements signed in FY26, with four more post-period, taking total contracted units to 87
- Net operating cash inflow of $17.9 million, up 103%
- $25.9 million in cash and $140 million in undrawn debt at period end
What else do investors need to know?
Chrysos continued to expand its global footprint during the year, deploying units across Canada, Australia, and South America. Notably, the company signed major direct-to-mine leases with gold producers such as Newmont Corporation (ASX: NEM) and Allied Gold, further underlining industry acceptance of PhotonAssayTM.
Operational highlights included five consecutive months of processing over one million samples, and the rollout of the next-generation "XN" unit in Perth. The company refinanced its corporate facilities, securing a new $200 million syndicated debt facility with improved terms, strengthening its ability to fund further deployments and manufacturing.
What did Chrysos management say?
Managing Director and CEO Dirk Treasure said:
More mines and labs are choosing PhotonAssay for safer, faster, more accurate analysis. Our business model continues to generate recurring leasing revenue and is delivering for shareholders with increased earnings and strong growth in our margins. Uptake of our PhotonAssay technology is demonstrated by a 67% increase in samples processed during FY26 and our future rollout is now supported by an additional 24 contracts signed during the period.
I'm thrilled by our growing relationships with major gold miners, particularly those deploying PhotonAssay directly to their minesites. I eagerly await our initial deployments to Newmont, where we'll be able to demonstrate PhotonAssay's capability beyond just a like for like replacement for fire assay. We've also been incredibly well supported this year by our relationships with the major laboratory companies, each of which has expanded their PhotonAssay capacity during the year. We look forward to accelerating deployments into FY27.
What's next for Chrysos?
Looking ahead, Chrysos enters FY27 with a larger contracted fleet, a maturing installed base, and a strengthened financial position. The company aims to continue deploying new units globally and increase processed sample volumes, underpinning recurring revenue growth.
FY27 guidance forecasts revenue between $108 million and $118 million, and EBITDA in the range of $35 million to $42 million. Chrysos is also working to broaden its market by expanding PhotonAssayTM into non-gold commodities, which could add further growth opportunities over time.
Chrysos share price snapshot
Over the past 12 months, Chrysos shares have risen 18%, outperforming the All Ordinaries Index (ASX: XAO), which has risen 3% over the same period.
