Chrysos (C79) H1 2026 earnings summary

Executive summary

• Achieved record first half FY26 revenue of $43.3 million, up 49% year-over-year, driven by global adoption of PhotonAssay technology, strong gold prices, and accelerating utilization across the fleet.

• EBITDA rose 152% to $14.4 million, with margin expanding to 33% from 20% in the prior year, reflecting higher unit utilization and cost discipline.

• Net profit after tax reached $0.732 million, marking a transition to statutory profitability.

• Deployed 43 PhotonAssay units globally, with 14 new lease agreements signed (8 during the half, 6 post-period), bringing total contracted units to 72.

• International revenue accounted for over 50% of total revenue, with expansion in Africa, North America, Australia, Europe, and South America.

Financial highlights

• Revenue for the half was $43.3 million, up 49% year-on-year, driven by global adoption and increased industry activity.

• EBITDA reached $14.4 million, up 152%, with margin expanding to 33% from 20% in the prior year.

• Operating cash flow was $8.6 million, and NPAT was $0.732 million, marking statutory profitability.

• Gross profit margin for PhotonAssay remained strong at approximately 76%.

• Additional Assay Charges (AAC) represented 27% of total revenue, up from 11% year-on-year, with AAC revenue rising 261% to $11.7 million.

Outlook and guidance

• FY26 guidance reaffirmed: revenue between $80–90 million and EBITDA between $20–27 million, both tracking toward the upper end, supported by elevated industry activity and utilization.

• Deployments expected to accelerate through the remainder of the year and beyond, with strong funding and liquidity position.

• Conservative approach to guidance due to FX volatility, particularly AUD/USD swings.

• Ongoing international expansion and new sales resources in Latin America to accelerate regional engagement.