C79 - Chrysos Corporation

galumay said:

Its an interesting one, @Dona Ferentes, on face value the 4C looks terrible, continuation of revenue growth with no sign of any of it flowing to the bottom line. When you look thru the numbers though, the problems are the high staff costs and massive capex spend. So there may be a point where it does start to scale, just depends how and when the capex spend drops and whether the staff costs are relatively fixed as revenue scales up.

You question is exactly right IMO, whether or not they can start "making it back", will be the indicator of whether or not its an investible business. Stays on the watch list for now!

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It would be an intensive and costly set of operations to install and optimise operations, on locations throughout the world.

Just watching

Dona Ferentes said:

Just watching

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sub $5

For six months ended 31 Dec 2024 (1H FY25)
Highlights
▪ Total Revenue of $29.1m, +54% growth Year-on-Year (1H FY24: $18.9m)
▪ EBITDA of $5.7m; +150% growth on 1H FY24 $2.3m
▪ EBITDA margin of 20%, increasing YoY from 12% in 1H FY24
▪ Six new lease agreements signed, bringing the total number of contracted units to 56
▪ Continuing adoption of PhotonAssayTM at the Barrick-Newmont NGM operation in Nevada, giving Chrysos exposure to the world’s two largest gold miners
▪ Total of $121.9m available for growth, including $26.9m in cash and $95.0m undrawn debt facility with CBA as at 31 December 20242

FY25 Guidance
▪ Revenue is tracking at the lower end of the $60m to $70m guidance range
▪ EBITDA is tracking below the midpoint of the $9m to $19m guidance range

Yeah, not a good look, such a tell when all your messaging is about bull**** Earnings (EBITDA), sure enough if you go to the only place they mention actual earnings, the financial statements, they made a loss again!

I was following this but the deliberate hiding of real results is too much of a red flag for me, off the watchlist!