Canaan Inc. (CAN)
Canaan Inc. operates as a holding company, primarily engaged in the design, production, and sale of Bitcoin mining hardware, in addition to supplying various associated services. A key focus for the company is the advancement and implementation of environmentally conscious mining practices. This firm was co-founded by Jia Xuan Li, Xiang Fu Liu, and Nan Geng Zhang on January 19, 2013, and its corporate headquarters are situated in Singapore.
Sector: Finance Services
Industry: Computer Hardware
Canaan Inc.
NASDAQ:CANTechnology · Computer Hardware
+2.76%$0.1859
CLOSED · Nov 6Prev close$0.1809+2.76%Close$0.1859-0.48%AH close$0.1850
AH$0.1850-0.48%vs close
Mkt Cap$130.84M
Float674.73M
O/S703.83M
VOL6.73M sh
$ Vol$1.22M
RVOL1.03×
Inst Own20.2%
SI9.7%
Dilution
Financials Summary
Revenue$529.74M
Net Income-$210.27M
Total Assets$602.88M
Free Cash Flow$0
Debt & Equity
Debt 11%
Equity 89%
Total Debt$54.9M
Total Equity$437.37M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in CAN's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$602.88M
Liabilities$165.52M
Accounts Receivable$19.29M
Accounts Payable$25.6M
Inventory$180.82M
PP&E (Net)$46.91M
Goodwill$0
Intangible Assets$689K
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | CNY | CNY | CNY | CNY | CNY | CNY |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $529.74M | $269.32M | $211.48M | $4.46B | $4.91B | $447.52M | $1.42B | $2.71B | $1.31B |
| YoY Growth | 96.7% | 27.4% | -95.3% | -9.1% | 996.9% | -68.5% | -47.4% | 106.8% | - |
| Cost of Revenue | $488.58M | $353.64M | $452.26M | $2.89B | $2.1B | $409.77M | $1.94B | $2.2B | $703.7M |
| Gross Profit | $41.16M | -$84.32M | -$240.78M | $1.58B | $2.81B | $37.75M | -$516M | $508.12M | $604.38M |
| Gross Margin | 7.8% | -31.3% | -113.9% | 35.3% | 57.2% | 8.4% | -36.3% | 18.8% | 46.2% |
| Research and Development | $63.15M | $61.32M | $64.84M | $564.3M | $331.42M | $139.99M | $168.98M | $180.57M | $101.02M |
| Selling, General, and Administrative | $81.65M | $77.4M | $79.42M | $669.54M | $677.25M | $151.55M | $369.55M | $185.41M | $145.99M |
| Other | $8.59M | $4.09M | $25.83M | $49.87M | $2.12M | -$244K | $0 | $9.11M | -$1.25M |
| Total Operating Expenses | $153.39M | $142.81M | $170.1M | $1.28B | $1.01B | $291.29M | $538.53M | $375.1M | $245.76M |
| Operating Income (EBIT) | -$112.23M | -$227.13M | -$410.88M | $348.2M | $1.8B | -$240.02M | -$1.05B | $133.02M | $358.63M |
| Operating Margin | -21.2% | -84.3% | -194.3% | 7.8% | 36.6% | -53.6% | -74.0% | 4.9% | 27.4% |
| Interest Expense | $1.97M | $521K | $0 | $0 | $0 | $3.39M | $2.86M | $7.71M | $0 |
| Interest Income | $267K | $536K | $956K | $16.25M | $7.21M | $8.51M | $551K | $615K | $5.69M |
| Other Income (Expense) | -$95.26M | $54.86M | -$54.61M | $257.07M | $219.33M | $36.67M | $20.02M | $67.22M | $42.34M |
| Income Before Tax (EBT) | -$207.49M | -$172.27M | -$465.49M | $605.26M | $2.02B | -$203.35M | -$1.03B | $200.24M | $400.97M |
| Income Tax Expense | $2.78M | $77.48M | -$51.34M | $126.42M | $49.33M | $0 | $0 | $80.85M | $24.52M |
| Net Income | -$210.27M | -$249.75M | -$414.15M | $478.84M | $1.96B | -$203.35M | -$1.03B | $122.43M | $375.82M |
| Net Income Margin | -39.7% | -92.7% | -195.8% | 10.7% | 40.0% | -45.4% | -72.7% | 4.5% | 28.7% |
| Supplementary Data | |||||||||
| EPS | -0.45 | -0.92 | -2.40 | 2.85 | 11.40 | -1.30 | -7.20 | 0.93 | 2.85 |
| Diluted EPS | -0.45 | -0.92 | -2.40 | 2.85 | 11.40 | -1.30 | -7.20 | 0.93 | 2.85 |
| Weighted Average OS | 468.82M | 271.49M | 171.92M | 171.86M | 171.71M | 156.38M | 143.53M | 131.86M | 131.44M |
| EBITDA | -$56.29M | -$143.33M | -$330.11M | $601.95M | $1.82B | -$235.24M | -$140.11M | $265.89M | $411.55M |
| EBITDA Margin | -10.6% | -53.2% | -156.1% | 13.5% | 37.0% | -52.6% | -9.8% | 9.8% | 31.5% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | CNY | CNY | CNY | CNY | CNY | CNY |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $80.78M | $96.49M | $96.15M | $695.83M | $2.68B | $59.94M | $516.61M | $258.94M | $176.5M |
| Short-Term Investments | $0 | $0 | $0 | $22.98M | $0 | $62.36M | $11.01M | $0 | $90M |
| Cash and Short-Term Investments | $80.78M | $96.49M | $96.15M | $695.83M | $2.68B | $453.53M | $527.61M | $258.94M | $266.5M |
| Accounts Receivable | $19.29M | $114.66M | $58.4M | $496.1M | $274.66M | $100.4M | $2.84M | $22.55M | $1.31M |
| Inventory | $180.82M | $94.62M | $142.29M | $1.46B | $812.35M | $225.44M | $196.07M | $585.67M | $259.85M |
| Other Current Assets | $52.7M | $7.26M | $16.82M | $1.18B | -$279.16M | $3.28M | $1.02B | $490.25M | $651.91M |
| Total Current Assets | $433.29M | $334.02M | $363.68M | $3.84B | $5.27B | $1.01B | $940.81M | $1.37B | $1.18B |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $46.91M | $43.66M | $31.16M | $618.45M | $216.48M | $26.61M | $45.37M | $27.93M | $18.4M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $689K | $901K | $7.55M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $121.32M | $2.78M | $2.82M | $19.82M | $20M | $25K | $0 | $1K | $0 |
| Deferred Tax Assets | $0 | $295K | $66.81M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $679K | $81.35M | $21.28M | $253.83M | $122.31M | $2.53M | $5.25M | $6.34M | $5.26M |
| Total Long-Term Assets | $169.59M | $128.99M | $129.62M | $892.11M | $358.79M | $29.16M | $50.62M | $34.27M | $23.66M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $602.88M | $463.01M | $493.3M | $4.69B | $5.63B | $1.04B | $991.43M | $1.4B | $1.2B |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $25.6M | $13.97M | $6.25M | $114.45M | $143.26M | $37.36M | $97.99M | $6.87M | $7.75M |
| Short-Term Debt | $28.52M | $84.77M | $0 | $15.89M | $2.33M | $34.75M | $18.2M | $1.05B | $0 |
| Current Income Tax Payable | $0 | $12.78M | $11.98M | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $24.25M | $26.8M | $4.54M | $0 | $0 | $0 | $6.91M | $204.85M |
| Other Current Liabilities | $9.32M | $2.14M | $70.64M | -$10.93M | $1.11B | $427.52M | $166.56M | $89.43M | $55.03M |
| Total Current Liabilities | $131.09M | $178.57M | $135.19M | $515.65M | $2.09B | $592.26M | $285.23M | $1.16B | $350.32M |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $23.73M | $7.28M | $0 | $0 | $0 | $0 | $13.4B | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $9.05M | $9.19M | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $153K | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $9.75M | $0 | $516K | $4.1M | $72.38M | $8.01M | -$13.39B | $7 | $0 |
| Total Long-Term Liabilities | $34.43M | $18.19M | $9.92M | $13.97M | $88.46M | $11.34M | $13.4M | $7 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $6 | $0 | $0 | $0 | $0 |
| Total Liabilities | $165.52M | $196.76M | $145.11M | $529.62M | $2.17B | $603.6M | $298.63M | $1.16B | $345.98M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $1K | $0 | $0 | $986 | $997 | $1000 | $990 | $952 | $1K |
| Retained Earnings | -$645.87M | -$450.49M | -$219.63M | $1.33B | $802.3M | -$1.19B | -$874.18M | $143.97M | $439.03M |
| Comprehensive Income & Other | -$56.65M | -$42.56M | -$28.99M | -$150.89M | -$101.92M | $17.51M | -$54.97M | -$62.1M | -$1K |
| Other Stockholders' Equity | $1.08B | $716.74M | $567.82M | $2.83B | $2.66B | $1.63B | $1.56B | $97.01M | $428.95M |
| Total Equity | $437.37M | $266.25M | $348.19M | $4.16B | $3.46B | $432.4M | $685.66M | $240.98M | $867.98M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $602.88M | $463.01M | $493.3M | $4.69B | $5.63B | $1.04B | $984.29M | $1.4B | $1.21B |
| Supplementary Data | |||||||||
| Total Debt | $54.9M | $94.99M | $1.43M | $25.73M | $31.07M | $50.7M | $13.42B | $1.05B | $0 |
| Net Debt | -$25.88M | -$1.5M | -$94.73M | -$670.1M | -$2.65B | $61.28B | $12.9B | $790.07M | -$176.5M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | CNY | CNY | CNY | CNY | CNY | CNY |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$210.27M | -$249.75M | -$414.15M | $3.39B | $1.96B | -$1.33B | -$1.03B | $122.43M | $375.82M |
| Depreciation & Amortization | $47.35M | $28.42M | $59.64M | $219.96M | $14.15M | $4.78M | $4.88M | $13.15M | $9.13M |
| Deferred Income Tax | $0 | $73.08M | -$45.69M | -$365.11M | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $30.92M | $42.07M | $0 | $485.95M | $0 | $270.24M | $18.59M | $95.53M |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $0 | $97K | -$3.02M | $2.56M | $6.73M | -$27.76M | $20.82M | -$20.23M | $11.48M |
| Inventory | $0 | -$129.27M | -$123.95M | -$10.87B | -$737.86M | -$301.33M | -$157.33M | -$325.82M | -$123.93M |
| Accounts Payable | $0 | $7.22M | -$10.24M | -$663.63M | $0 | -$380.29M | $0 | $0 | $0 |
| Other Working Capital | $0 | $18.09M | $153.31M | -$11.1B | -$1.13B | $2.15B | -$19.54M | $428.22M | -$526.57M |
| Total Working Capital Change | $0 | -$103.86M | $16.11M | -$22.63B | -$1.86B | $1.44B | -$156.05M | $82.17M | -$639.02M |
| Other Non-Cash Items | $162.92M | $21.94M | $218.39M | $7.55B | $680.96M | $223.75M | $635.37M | -$249.08M | $172.51M |
| Net Cash from Operating | $0 | -$199.26M | -$123.62M | -$11.83B | $1.29B | $344.22M | -$280.06M | -$12.74M | $13.97M |
| Investing Activities | |||||||||
| Capital Expenditures | $0 | -$19.3M | -$3.31M | -$663.27M | -$35.86M | -$13.42M | -$8.38M | -$24.91M | -$12.66M |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $3.93M | $0 | $16.34M | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | -$8.25B | $0 | -$1.46B | $0 |
| Sales of Investments | $0 | $0 | $0 | $451.85M | $0 | $7.95B | $0 | $1.56B | $0 |
| Other Investing Activities | $0 | $80.28M | $42.94M | $0 | $41.25M | $0 | -$7.95M | -$4.25M | -$635K |
| Net Cash from Investing | $0 | $60.97M | $39.63M | -$211.42M | $5.39M | -$305.85M | -$16.33M | $83.98M | -$13.29M |
| Financing Activities | |||||||||
| Debt Repaid | - | -$9.94M | - | - | $34.95M | - | - | - | - |
| Common Stock Issuance | $0 | $768K | $67.85M | $490.7M | $1.05B | -$42.44M | $1.21B | $0 | $146.23M |
| Common Stock Repurchases | $0 | $0 | $0 | -$1.94B | -$103.1M | -$247.15M | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$692.05M | $0 |
| Other Financing Activities | $0 | -$768K | -$2.42M | -$1.1B | $1.05B | $0 | $1.01B | -$38.51M | $3.77M |
| Net Cash from Financing | $0 | $139.75M | $90M | -$2.55B | $884.38M | -$773.86M | $277.95M | $295.2M | $150M |
| Forex Effect | $0 | -$1.12M | -$11.41M | -$756.85M | $161.64M | $68.44M | -$1.93M | $2.27M | $28.03M |
| Net Change in Cash | -$96.49M | $334K | -$5.4M | -$15.35B | $2.33B | -$667.05M | -$20.36M | $368.71M | $176.5M |
| Supplementary Data | |||||||||
| Operating Cash Flow | $0 | -$199.26M | -$123.62M | -$11.83B | $1.29B | $344.22M | -$280.06M | -$12.74M | $91.2M |
| Capital Expenditure | $0 | -$19.3M | -$3.31M | -$663.27M | -$35.86M | -$13.42M | -$8.38M | -$24.91M | -$12.66M |
| Free Cash Flow | $0 | -$218.57M | -$126.93M | -$12.49B | $1.25B | $330.79M | -$288.44M | -$37.65M | $78.54M |
| Cash at Beginning | $96.49M | $96.15M | $101.55M | $20.12B | $395.65M | $3.24B | $545.21M | $176.5M | $0 |
| Cash at End | $0 | $96.49M | $96.15M | $4.78B | $2.72B | $2.58B | $524.85M | $545.21M | $176.5M |