• Non-discretionary industry spend
• Total Addressable Market (TAM) of 610 units globally
• Secure Long-Term Revenue with unit deployments contracted in to 2026

Chrysos Corporation Ltd, a global provider of novel assay services through its proprietary PhotonAssayTM technology, reported strong financial and operational results for the first half of fiscal year 2025. Total revenue grew by 54% year-over-year to $29.1 million, driven by a 56% increase in Minimum Monthly Assay Payments (MMAP) to $25.8 million and a 41% rise in Additional Assay Charges (AAC) to $3.3 million. EBITDA increased by 150% to $5.7 million, with the EBITDA margin expanding to 20% from 12% in the prior-year period. The company deployed 5 new PhotonAssayTM units during the half, bringing the total deployed or contractually-committed units to 56. Chrysos continued to strengthen its relationships with global miners and laboratory companies, with six new lease agreements signed, including a growing partnership with SGS. The company's balance sheet remains strong, with $26.9 million in cash and $95 million in undrawn debt facilities, providing ample funding for continued sustainable growth.

FY25 revenue is tracking at the lower end of the $60 million to $70 million guidance range, while EBITDA is tracking below the midpoint of the $9 million to $19 million guidance range.

Chrysos is well-positioned for sustainable growth, with a focus on converting gold mining projects in key hubs to PhotonAssayTM, driving improved customer outcomes to increase sample volumes, and forming strategic partnerships with customers that have capacity for larger unit numbers. The company also sees opportunities to expand the application of PhotonAssayTM beyond gold analysis.