Intchains Group Ltd Stock Price, News & Analysis

Intchains Group reported strong Q3 2024 financial results with revenue reaching RMB60.3 million (US$8.6 million), up 781.4% year-over-year. The company achieved a net income of RMB3.2 million, compared to a net loss of RMB19.1 million in Q3 2023. ASIC chip sales volume increased 25.9% to 207,838 units. The company's cryptocurrency assets reached RMB149.5 million, including 4,149 ETH and approximately 9.8 million USDT/USDC. Notable developments include the launch of Goldshell Pay payment solution and plans for a hardware crypto wallet in Q4 2024.

Intchains Group (Nasdaq: ICG), a provider of high-performance computing ASIC chip solutions and Ethereum cryptocurrency holder, has scheduled its Q3 2024 earnings release for November 20, 2024, after U.S. market close. The company will host an earnings conference call at 8:00 P.M. U.S. Eastern Time on November 20, 2024 (9:00 A.M. Beijing Time on November 21, 2024) to discuss financial results for the quarter ended September 30, 2024. Participants must register online to receive dial-in numbers and a personal access PIN. A live and archived webcast will be available on the company's website.

Intchains Group (Nasdaq: ICG) reported strong financial results for Q2 2024:

- Revenue increased 785.1% YoY to RMB123.0 million (US$16.9 million)
- Net income of RMB50.4 million (US$6.9 million), compared to a net loss in Q2 2023
- ASIC chip sales volume decreased 26.2% YoY to 274,019 units
- Cryptocurrency holdings valued at RMB135.7 million (US$18.7 million)

Key highlights:
- Launched new Goldshell-branded computing equipment for cryptocurrency mining
- Expanded overseas, with 71.7% of Q2 revenue from international markets
- Continued focus on technological innovation and cryptocurrency acquisition strategy

Intchains Group (Nasdaq: ICG), a provider of integrated solutions for blockchain applications and a corporate holder of Ethereum-based cryptocurrencies, has announced its plans to release unaudited financial results for the second quarter of 2024. The results will be disclosed after the U.S. market closes on Thursday, August 15, 2024. Following the release, the company will host an earnings conference call at 9:00 P.M. U.S. Eastern Time on the same day (9:00 A.M. Beijing Time on August 16, 2024) to discuss the financial results. Interested participants can register for the call using the provided link and will receive dial-in numbers and a personal access PIN upon registration. A live and archived webcast of the conference call will also be available on the company's website.

Intchains Group (Nasdaq: ICG) reported its unaudited Q1 2024 financial results on May 17, 2024. ASIC chip sales remained stable at approximately 494,235 units. However, revenue decreased by 6.8% year-over-year to RMB24.3 million (US$3.4 million), primarily due to a one-off sale in Q1 2023. Net loss was RMB14.8 million (US$2.1 million), compared to a net income of RMB4.7 million the previous year.

The company saw a significant rise in operating expenses, mainly driven by a 357% increase in R&D costs. As of March 31, 2024, the fair value of their cryptocurrency assets was RMB23.6 million (US$3.3 million). Intchains has initiated a new cryptocurrency acquisition strategy aimed at strengthening its ETH-based asset reserves.

Intchains Group , a provider of high-performance computing ASIC chip products for blockchain applications, will report its unaudited financial results for the first quarter of 2024 on May 16, 2024. The earnings conference call to discuss the results will be held on the same day.