Mineral fire-assay market disruptor Chrysos Corporation says it deployed four new PhotonAssay scanning units during the March quarter, when revenue rose 5% year-on-year to A$6.7 million.
The company said its total booked contract value (TCV) fell $6m during the quarter to $708m as deployed PhotonAssay units converted TCV to revenue. It has 18 machines currently operating and 49 contracted for deployment with two more being installed and three being shipped.
Chrysos said it was operating cash flow positive during the latest quarter and finished the period with $65.5m in the bank.
“Our FY23 target of 21 PhotonAssay units is expected to be achieved early Q1 FY24,” the company said.
ASX-listed Chrysos’ share price is down more than 8% in the past week at $4.04, capitalising the company at circa-$260 million.