Mineral-assay market disruptor Chrysos Corporation has set itself to double revenue and substantially lift profit in FY24 after finishing FY23 on a high.
The company booked June-quarter revenue of A$8.6 million, up 27% quarter-on-quarter and 83% year-on-year, taking full-year revenue to $26.8m. It is forecasting FY24 revenue of $48-58m and $7-17m of EBITDA. It expects to deploy “at least” 18 PhotonAssay units, now used around the world for chemical-free X-raying of mineral samples, this year.
PhotonAssaying is faster, cheaper and more accurate than traditional fire assaying.
Chrysos has 20 units deployed and contracts for 49.
Q4 FY23 sample volumes rose to 978,000, up 50% yoy.
The company finished FY23 with $53.4m cash in the bank.
Its share price has risen more than 66% this year to $4.90, capitalising Chrysos at $315m.