Canaan Inc. Reports Unaudited Second Quarter 2025 Financial Results
Canaan Inc. (NASDAQ: CAN) reported strong Q2 2025 financial results, with total revenues of US$100.2 million, up 39.5% year-over-year. The company's performance was driven by two main revenue streams: US$71.9 million from mining machine sales and a record US$28.1 million from bitcoin mining operations.
Key operational highlights include selling 6.4 million TH/s of computing power (up 16.5% sequentially), mining 284 bitcoins during the quarter, and expanding their bitcoin treasury to 1,511 bitcoins by July-end 2025. The company achieved a gross profit of US$9.3 million, marking a significant turnaround from a US$19.1 million loss in Q2 2024.
Despite these improvements, Canaan reported a net loss of US$11.1 million for Q2 2025, though this represents a substantial improvement from the US$86.4 million loss in Q1 2025. The company maintains a strong cash position of US$65.9 million and has initiated a US$30 million share repurchase program.
Canaan Inc. (NASDAQ: CAN) ha riportato solidi risultati finanziari nel Q2 2025, con ricavi totali di US$100.2 milioni, in aumento del 39.5% su base annua. La performance è stata trainata da due principali fonti di ricavo: US$71.9 milioni dalle vendite di macchine per il mining e un record di US$28.1 milioni dalle operazioni di mining di bitcoin.
I principali aspetti operativi includono la vendita di 6.4 million TH/s di potenza di calcolo (in crescita del 16.5% rispetto al trimestre precedente), l'estrazione di 284 bitcoin nel trimestre e l'espansione della tesoreria in bitcoin a 1,511 bitcoin alla fine di luglio 2025. L'azienda ha realizzato un utile lordo di US$9.3 milioni, segnando un significativo miglioramento rispetto alla perdita di US$19.1 milioni registrata nel Q2 2024.
Nonostante questi progressi, Canaan ha riportato una perdita netta di US$11.1 milioni per il Q2 2025, comunque in netto miglioramento rispetto alla perdita di US$86.4 milioni nel Q1 2025. L'azienda mantiene una solida posizione di cassa di US$65.9 milioni e ha avviato un programma di riacquisto di azioni da US$30 milioni.
Canaan Inc. (NASDAQ: CAN) presentó sólidos resultados financieros en el Q2 2025, con ingresos totales de US$100.2 millones, un aumento interanual del 39.5%. El desempeño estuvo impulsado por dos flujos principales de ingresos: US$71.9 millones por ventas de máquinas de minería y un récord de US$28.1 millones por operaciones de minería de bitcoin.
Entre los aspectos operativos clave figura la venta de 6.4 million TH/s de potencia de cómputo (crecimiento secuencial del 16.5%), la minería de 284 bitcoins durante el trimestre y la ampliación de la tesorería en bitcoins a 1,511 bitcoins a finales de julio de 2025. La compañía alcanzó un beneficio bruto de US$9.3 millones, revirtiendo la pérdida de US$19.1 millones del Q2 2024.
A pesar de estas mejoras, Canaan registró una pérdida neta de US$11.1 millones en el Q2 2025, si bien representa una mejora considerable respecto a la pérdida de US$86.4 millones en el Q1 2025. La empresa mantiene una sólida posición de caja de US$65.9 millones y ha iniciado un programa de recompra de acciones por US$30 millones.
Canaan Inc. (NASDAQ: CAN)는 2025년 2분기 실적에서 총매출 US$100.2 million을 기록하며 전년 대비 39.5% 성장한 견조한 성과를 발표했습니다. 실적은 두 가지 주요 수익원으로 뒷받침되었습니다: 채굴기 판매에서 US$71.9 million, 비트코인 채굴 운영에서 사상 최대인 US$28.1 million이 발생했습니다.
주요 운영 성과로는 6.4 million TH/s의 해시파워 판매(전분기 대비 16.5% 증가), 분기 중 284 비트코인 채굴, 그리고 2025년 7월 말 기준 비트코인 보유고를 1,511 비트코인으로 확대한 점이 포함됩니다. 회사는 US$9.3 million의 매출총이익을 달성하며 2024년 Q2의 US$19.1 million 손실에서 크게 개선되었습니다.
이러한 개선에도 불구하고 Canaan은 2025년 Q2에 US$11.1 million의 순손실을 보고했으나, 이는 2025년 Q1의 US$86.4 million 손실에 비해 상당한 개선입니다. 회사는 US$65.9 million의 확고한 현금 포지션을 유지하고 있으며 US$30 million 규모의 자사주 매입 프로그램을 시작했습니다.
Canaan Inc. (NASDAQ: CAN) a publié de solides résultats financiers pour le T2 2025, avec un chiffre d'affaires total de US$100.2 millions, en hausse de 39.5% sur un an. Les performances ont été soutenues par deux principales sources de revenus : US$71.9 millions provenant des ventes de machines de minage et un record de US$28.1 millions issu des opérations de minage de bitcoin.
Parmi les points opérationnels clés figurent la vente de 6.4 million TH/s de puissance de calcul (en hausse séquentielle de 16.5%), l'extraction de 284 bitcoins au cours du trimestre et l'extension de la trésorerie en bitcoins à 1,511 bitcoins fin juillet 2025. La société a réalisé une marge brute de US$9.3 millions, marquant un net redressement après une perte de US$19.1 millions au T2 2024.
Malgré ces améliorations, Canaan a enregistré une perte nette de US$11.1 millions pour le T2 2025, bien que cela représente une amélioration substantielle par rapport à la perte de US$86.4 millions au T1 2025. L'entreprise conserve une solide position de trésorerie de US$65.9 millions et a lancé un programme de rachat d'actions de US$30 millions.
Canaan Inc. (NASDAQ: CAN) meldete starke Finanzergebnisse für das Q2 2025 mit einem Gesamtumsatz von US$100.2 Millionen, ein Anstieg von 39.5% gegenüber dem Vorjahr. Die Leistung wurde von zwei Hauptumsatzquellen getragen: US$71.9 Millionen aus dem Verkauf von Mining-Geräten und ein Rekord von US$28.1 Millionen aus Bitcoin-Mining-Aktivitäten.
Zu den wichtigsten operativen Kennzahlen zählen der Verkauf von 6.4 million TH/s Rechenleistung (sequenzielles Wachstum von 16.5%), das Schürfen von 284 Bitcoins im Quartal und die Ausweitung des Bitcoin-Bestands auf 1,511 Bitcoins bis Ende Juli 2025. Das Unternehmen erzielte einen Bruttogewinn von US$9.3 Millionen und kehrte damit deutlich von einem Verlust von US$19.1 Millionen im Q2 2024 zurück.
Trotz dieser Verbesserungen verzeichnete Canaan im Q2 2025 einen Nettoverlust von US$11.1 Millionen, was jedoch eine deutliche Verbesserung gegenüber dem Verlust von US$86.4 Millionen im Q1 2025 darstellt. Das Unternehmen verfügt über eine starke Liquiditätsposition von US$65.9 Millionen und hat ein Aktienrückkaufprogramm in Höhe von US$30 Millionen gestartet.
- Total revenues increased 39.5% YoY to US$100.2 million
- Bitcoin mining revenue hit all-time high of US$28.1 million, up 201.6% YoY
- Computing power sold increased 16.5% sequentially to 6.4 million TH/s
- Bitcoin treasury reached milestone of 1,511 bitcoins
- Turned US$19.1M gross loss to US$9.3M gross profit YoY
- Competitive mining power cost of US$0.045/kWh
- Non-GAAP adjusted EBITDA improved to US$25.3M gain from US$38.1M loss in Q1
- Net loss of US$11.1 million in Q2 2025
- Operating expenses increased to US$36.4 million from US$27.5 million YoY
- Cash decreased to US$65.9 million from US$96.5 million as of December 2024
- US$17.5 million loss from changes in fair value of financial instruments
- Discontinuation of AI semiconductor business unit
Insights
Canaan delivers stronger-than-expected Q2 with significant mining revenue growth despite continued operational losses.
Canaan has posted a 39.5% year-over-year revenue increase to
While the company reported a
The company's vertically integrated model is showing benefits through its diversified manufacturing strategy. With production facilities now in the U.S., Malaysia, and East Asia, Canaan has secured recurring orders from major U.S. miners including Cipher Mining and Cleanspark, despite tariff headwinds.
Particularly noteworthy is Canaan's expanding bitcoin treasury, which reached 1,511 bitcoins by July-end 2025. The company's total bitcoin holdings (including customer deposits and pledged bitcoins) stood at 1,567.5 bitcoins as of June 30, with cryptocurrency assets valued at
Canaan's strategic realignment announced in June 2025 to focus on core bitcoin operations (mining machine sales, self-mining, and consumer products) while discontinuing its AI semiconductor business demonstrates management's commitment to sharpening its competitive edge in the crypto space. Additionally, insider purchases by the CEO and CFO signal management confidence, while the company's
Total revenues of US
Bitcoin mining revenues reached an all-time high of
Bitcoin treasury[1] climbed to a milestone of 1,511 as of July-end 2025
Second Quarter 2025 Operating and Financial Highlights
The Company posted record unaudited results for the three months ended June 30, 2025, its strongest performance in the past ten quarters, driven by the increasingly diversified revenue streams, resilient execution, and robust mining deployment.
Total revenues reached
Total computing power sold was 6.4 million Terahash per second (TH/s), a
Mining revenue hit an all-time high of
Gross profit surged to
Bitcoin treasury expanded to 1,483.5 bitcoins by quarter-end and further to 1,511 bitcoins by July-end 2025, marking a strategic milestone in the Company's long-term accumulation model.
Nangeng Zhang, chairman, and chief executive officer of Canaan, commented, "In the second quarter, our team delivered strong results amid evolving macro headwinds and geopolitical pressures. We exceeded expectations with total revenues of
"These achievements are underpinned by our unique vertically integrated model, spanning in-house ASIC design and diversified manufacturing, global self-mining operations, and disciplined bitcoin treasury management. This structure lowers our bitcoin acquisition costs, mitigates operational risks, and preserves strategic flexibility throughout market cycles. With localized production now running in the
Jin "James" Cheng, chief financial officer of Canaan, stated, "We delivered solid sequential and year-over-year improvement in the second quarter, reflecting our team's focus on execution and disciplined operations. Product sales revenue reached
"Meanwhile, we made progress toward sustainable growth and enhanced financial health. Our profitability exhibited robust growth both sequentially and year-over-year. Our balance sheet remains flexible and strategically positioned, supported by growing bitcoin assets. Looking ahead, we remain focused on prudent capital allocation, agile capacity deployment, and disciplined treasury management, aiming to drive returns from both mining machine sales and mining operations. We will continue adapting to market changes with rigor while reinforcing long-term financial resilience and strategic readiness."
Note 1: Defined as the total number of bitcoins owned by the Company on its Balance Sheet including any bitcoins receivable, |
Second Quarter 2025 Financial Results
Total revenues in the second quarter of 2025 were
Products revenue in the second quarter of 2025 was
Mining revenue in the second quarter of 2025 was
Cost of revenues in the second quarter of 2025 was
Products costs in the second quarter of 2025 were
Mining costs in the second quarter of 2025 were
Gross profit in the second quarter of 2025 was
Total operating expenses in the second quarter of 2025 were
Research and development expenses in the second quarter of 2025 were
Sales and marketing expenses in the second quarter of 2025 were
General and administrative expenses in the second quarter of 2025 were
Impairment on property, equipment and software in the second quarter of 2025 was nil, compared to nil in the first quarter of 2025 and
Loss from operations in the second quarter of 2025 was
Change in fair value of cryptocurrency and Change in fair value of financial derivative in the second quarter of 2025 were a gain of
Change in fair value of financial instruments other than derivatives in the second quarter of 2025 was a loss of US
Excess of fair value of Convertible Preferred Shares in the second quarter of 2025 was nil, compared to
Foreign exchange gains, net in the second quarter of 2025 were
Loss before income tax expense in the second quarter of 2025 was US
Net loss in the second quarter of 2025 was
Non-GAAP adjusted EBITDA in the second quarter of 2025 was a gain of
Foreign currency translation adjustment, net of nil tax, in the second quarter of 2025 was a gain of
Basic and diluted net loss per American depositary share ("ADS") in the second quarter of 2025 were
As of June 30, 2025, the Company held Cryptocurrency assets with a fair value of
As of June 30, 2025, the Company had cash of
Accounts receivable, net as of June 30, 2025 were
ADSs Outstanding
As of June 30, 2025, the Company had a total of 483,085,370 ADSs outstanding, each representing 15 of the Company's Class A ordinary shares.
Recent Developments
Strategic Realignment to Focus on Core Crypto Businesses
On June 23, 2025, the Company announced that it had commenced a strategic realignment to sharpen its focus on its core businesses of bitcoin mining machine sales, self-mining operations, and consumer mining products.
As part of this initiative, the Company will discontinue its non-core AI semiconductor business unit, which was described in the annual report for the year ended December 31, 2024, as "ASICs for edge computing applications." The process is expected to be completed in the next few months.
Share Purchases by Chief Executive Officer and Chief Financial Officer
On June 9, 2025, the Company announced that its chairman and chief executive officer, Nangeng Zhang, and its chief financial officer, James Jin Cheng, had purchased additional ADSs in the open market. Such transactions complied with the Company's internal trading policy and relevant laws and regulations.
Mr. Zhang and Mr. Cheng together acquired an aggregate of 817,268 ADSs at an average price of
The Share Repurchase Program up to
On May 27, 2025, the Company has announced that its board of directors (the "Board") authorized a share repurchase program ("Share Repurchase Program") under which the Company may repurchase up to
Under the share repurchase program, the Company may repurchase the ADSs representing its Class A ordinary shares through open market transactions at prevailing market prices, privately negotiated transactions, block trades or any combination thereof. In addition, Canaan will effect repurchase transactions in compliance with the Securities Exchange Act of 1934, as amended, and its insider trading policy. The number of ADSs repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with Canaan's working capital requirements and general business conditions. The Company's Board and/or its management will review the share repurchase program periodically and may authorize an adjustment of its terms and size as appropriate. The Company plans to fund the repurchases with its existing cash balance.
As of August 14, 2025, the Company had cumulatively repurchased 3,647,453 ADSs for
Completion of Conversion of the Previously Announced Series A-1 Preferred Shares
On March 6, 2025, the Company entered into a Securities Purchase Agreement with an institutional investor (the "Buyer"), pursuant to which the Company agreed to issue and sell to the Buyer up to 200,000 Series A-1 Convertible Preferred Shares (the "Series A-1 Preferred Shares"). On March 10, 2025, the Company closed the first tranche of the Series A-1 Preferred Shares financing (the "First Tranche Preferred Shares Closing") with the issuance of 100,000 Series A-1 Preferred Shares and the net proceeds of
Effective April 30, 2025, due to unforeseen market conditions, the Company and the Buyer have mutually agreed to terminate the agreement with respect to the second tranche of US
By the end of July 2025, the Buyer has fully converted all the first tranche of the Series A-1 Preferred Shares into ADSs and has completed the sale of these ADSs through open market transactions.
The At-the-Market ("ATM") Offering
The Company did not utilize the ATM facility in the second quarter of 2025.
Business Outlook
For the third quarter of 2025, the Company expects total revenues to be in the range of
The Company will continue to closely monitor the global policy environment and market developments, and may revise or update its outlook as appropriate, based on future clarity and business visibility.
Conference Call Information
The Company's management team will hold a conference call at 8:00 A.M. U.S. Eastern Time on August 14, 2025 (or 8:00 P.M. Singapore Time on the same day) to discuss the financial results. Details for the conference call are as follows:
Event Title: | Canaan Inc. Second Quarter 2025 Earnings Conference Call |
Registration | https://register-conf.media- |
All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call.
A live and archived webcast of the conference call will be available at the Company's investor relations website at investor.canaan-creative.com.
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in bitcoin's history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, such as expectations with regard to revenue or mining hash rate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, the ability of the Company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; changing macroeconomic and geopolitical conditions, including evolving international trade policies and the implementation of increased tariffs, import restrictions, and retaliatory trade actions; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Use of Non-GAAP Financial Measures
In evaluating Canaan's business, the Company uses non-GAAP measures, such as adjusted EBITDA, as supplemental measures to review and assess its operating performance. The Company defines adjusted EBITDA as net loss excluding income tax (benefit) expenses, interest income, interest expense, depreciation and amortization expenses, share-based compensation expenses, impairment on property, equipment and software, change in fair value of financial instruments other than derivatives and excess of fair value of convertible preferred shares. The Company believes that the non-GAAP financial measures provide useful information about the Company's results of operations, enhance the overall understanding of the Company's past performance and future prospects and allow for greater visibility with respect to key metrics used by the Company's management in its financial and operational decision-making.
The non-GAAP financial measures are not defined under
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
CANAAN INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (all amounts in thousands, except share and per share data, or as otherwise noted) | ||
As of December 31, | As of June 30, | |
2024 | 2025 | |
USD | USD | |
ASSETS | ||
Current assets: | ||
Cash | 96,488 | 65,904 |
Accounts receivable, net | 1,514 | 3,924 |
Inventories | 94,620 | 107,952 |
Prepayments and other current assets | 90,874 | 167,862 |
Cryptocurrency receivable, current | 50,525 | 75,353 |
Total current assets | 334,021 | 420,995 |
Non-current assets: | ||
Cryptocurrency | 61,821 | 61,845 |
Cryptocurrency receivable, non-current | 19,057 | 32,282 |
Property, equipment and software, net | 40,163 | 69,040 |
Intangible asset | 901 | 795 |
Operating lease right-of-use assets | 3,495 | 3,648 |
Deferred tax assets | 295 | 296 |
Other non-current assets | 476 | 480 |
Non-current financial investment | 2,782 | 2,794 |
Total non-current assets | 128,990 | 171,180 |
Total assets | 463,011 | 592,175 |
LIABILITIES, AND SHAREHOLDERS' | ||
Current liabilities | ||
Current portion of long-term loans | 16,658 | 23,965 |
Accounts payable | 13,975 | 29,958 |
Contract liabilities | 24,248 | 5,973 |
Income tax payable | 10,932 | 10,831 |
Accrued liabilities and other current | 43,406 | 47,737 |
Operating lease liabilities, current | 1,237 | 1,828 |
Convertible preferred shares | 68,113 | 116,654 |
Total current liabilities | 178,569 | 236,946 |
Non-current liabilities: | ||
Long-term loans | 7,279 | 20,750 |
Operating lease liabilities, non-current | 1,701 | 1,648 |
Deferred tax liability | 153 | 135 |
Other non-current liabilities | 9,055 | 9,093 |
Total liabilities | 196,757 | 268,572 |
Shareholders' equity: | ||
Ordinary shares ( |
- | - |
Treasury stocks ( | (57,055) | (42,646) |
Additional paid-in capital | 816,363 | 956,473 |
Statutory reserves | 14,892 | 14,892 |
Accumulated other comprehensive loss | (57,456) | (57,137) |
Accumulated deficit | (450,490) | (547,979) |
Total shareholders' equity | 266,254 | 323,603 |
Total liabilities and shareholders' equity | 463,011 | 592,175 |
CANAAN INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF (all amounts in thousands of USD, except share and per share data, or as otherwise | |||
For the Three Months Ended | |||
June 30, | March 31, | June 30, | |
USD | USD | USD | |
Revenues | |||
Products revenue | 61,751 | 58,322 | 71,923 |
Mining revenue | 9,308 | 24,254 | 28,072 |
Other revenues | 799 | 200 | 214 |
Total revenues | 71,858 | 82,776 | 100,209 |
Cost of revenues | |||
Product cost | (79,661) | (59,190) | (58,759) |
Mining cost | (11,037) | (22,940) | (31,995) |
Other cost | (290) | - | (149) |
Total cost of revenues | (90,988) | (82,130) | (90,903) |
Gross (loss) profit | (19,130) | 646 | 9,306 |
Operating expenses: | |||
Research and development expenses | (14,648) | (18,947) | (16,406) |
Sales and marketing expenses | (1,578) | (2,936) | (4,472) |
General and administrative expenses | (14,030) | (16,908) | (16,361) |
Impairment on property, equipment and | (798) | - | - |
Gain on disposal of property, equipment and | 3,585 | 516 | 863 |
Total operating expenses | (27,469) | (38,275) | (36,376) |
Loss from operations | (46,599) | (37,629) | (27,070) |
Interest income | 66 | 57 | 76 |
Interest expense | (14) | (351) | (385) |
Change in fair value of cryptocurrency | (5,125) | (2,264) | 10,576 |
Change in fair value of financial | (225) | (4,392) | (17,485) |
Change in fair value of financial derivatives | (4,116) | (14,055) | 23,440 |
Excess of fair value of convertible preferred | - | (28,179) | - |
Foreign exchange gains, net | 11,364 | 835 | 338 |
Other income, net | 859 | 252 | 225 |
Loss before income tax expenses | (43,790) | (85,726) | (10,285) |
Income tax benefit (expense) | 1,910 | (705) | (773) |
Net loss | (41,880) | (86,431) | (11,058) |
Foreign currency translation adjustment, | (3,999) | (1,057) | 1,376 |
Total comprehensive loss | (45,879) | (87,488) | (9,682) |
Weighted average number of shares used in | |||
— Basic | 4,117,791,601 | 4,817,919,054 | 5,994,860,758 |
— Diluted | 4,117,791,601 | 4,817,919,054 | 5,994,860,758 |
Net loss per share (cent per share) | |||
— Basic | (1.02) | (1.79) | (0.18) |
— Diluted | (1.02) | (1.79) | (0.18) |
Share-based compensation expenses were included in: | |||
Cost of revenues | 59 | 76 | 80 |
Research and development expenses | 1,702 | 1,770 | 1,363 |
Sales and marketing expenses | 13 | 53 | 59 |
General and administrative expenses | 4,750 | 5,316 | 4,670 |
The table below sets forth a reconciliation of net loss to non-GAAP adjusted EBITDA for the period indicated:
For the Three Months Ended | |||
June 30, | March 31, | June 30, | |
USD | USD | USD | |
Net loss | (41,880) | (86,431) | (11,058) |
Income tax (benefit) expense | (1,910) | 705 | 773 |
Interest income | (66) | (57) | (76) |
Interest expense | 14 | 351 | 385 |
EBIT | (43,842) | (85,432) | (9,976) |
Depreciation and amortization expenses | 5,650 | 7,513 | 11,657 |
EBITDA | (38,192) | (77,919) | 1,681 |
Share-based compensation expenses | 6,524 | 7,215 | 6,172 |
Impairment on property, equipment and | 798 | - | - |
Change in fair value of financial | 225 | 4,392 | 17,485 |
Excess of fair value of convertible | - | 28,179 | - |
Non-GAAP adjusted EBITDA | (30,645) | (38,133) | 25,338 |
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SOURCE Canaan Inc.
FAQ
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