Canaan (CAN) stock price, revenue, and financials

Canaan market cap is $892.2 m, and annual revenue was ¥2.71 b in FY 2018

$892.2 M

CAN Mkt cap, 13-Feb-2020

¥670.6 M

Canaan Revenue Q3, 2019
Canaan Gross profit (Q3, 2019)146.2 M
Canaan Gross profit margin (Q3, 2019), %21.8%
Canaan Net income (Q3, 2019)94.6 M
Canaan Cash, 31-Dec-2018258.9 M
Canaan EV1.7 B

Canaan Revenue

Canaan revenue was ¥2.71 b in FY, 2018 which is a 106.8% year over year increase from the previous period.

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Canaan Revenue Breakdown

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Canaan revenue breakdown by business segment: 99.8% from Products revenue and 0.2% from Other

Canaan revenue breakdown by geographic segment: 10.0% from Other foreign countries, 10.5% from United States of America, 76.1% from PRC and 3.4% from Other

Canaan Income Statement

Annual

CNYFY, 2017FY, 2018

Revenue

1.3b2.7b

Revenue growth, %

107%

Cost of goods sold

703.7m2.2b

Gross profit

604.4m508.1m

Gross profit Margin, %

46%19%

Sales and marketing expense

20.7m38.7m

R&D expense

99.8m189.7m

General and administrative expense

125.3m146.7m

Operating expense total

245.8m375.1m

Interest income

243.0k4.2m

Investment income

5.6m3.2m

Pre tax profit

401.0m200.2m

Income tax expense

25.2m77.8m

Net Income

375.8m122.4m

Quarterly

CNYQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Revenue

1.1b878.5m480.5m47.2m241.5m670.6m

Cost of goods sold

282.7m1.2b431.7m46.8m230.8m524.4m

Gross profit

785.9m(338.2m)48.8m463.0k10.8m146.2m

Gross profit Margin, %

74%(39%)10%1%4%22%

Sales and marketing expense

9.1m18.1m7.1m2.3m5.6m6.3m

R&D expense

32.7m38.1m67.7m31.3m35.9m38.1m

General and administrative expense

30.6m43.1m42.4m24.8m238.1m28.2m

Operating expense total

72.4m99.3m117.2m58.5m279.7m72.7m

Interest income

182.0k386.0k2.3m421.0k442.0k1.2m

Investment income

791.0k770.0k690.0k15.0k1.1m1.7m

Pre tax profit

742.7m(386.3m)(73.0m)(67.9m)263.1m94.6m

Income tax expense

92.7m47.0m(6.2m)

Net Income

650.0m(433.3m)(66.8m)(67.9m)263.1m94.6m

Canaan Balance Sheet

Annual

CNYFY, 2017FY, 2018

Cash

176.5m258.9m

Accounts Receivable

1.3m23.7m

Prepaid Expenses

636.4m186.7m

Inventories

259.8m585.7m

Current Assets

1.2b1.4b

PP&E

18.4m27.9m

Total Assets

1.2b1.4b

Accounts Payable

50.4m47.2m

Short-term debt

1.0b

Current Liabilities

346.0m1.2b

Total Debt

1.0b

Total Liabilities

346.0m1.2b

Common Stock

1.0k1.0k

Additional Paid-in Capital

423.6m155.0m

Retained Earnings

404.8m53.9m

Total Equity

857.2m241.0m

Debt to Equity Ratio

4.4 x

Debt to Assets Ratio

0.7 x

Financial Leverage

1.4 x5.8 x

Canaan Cash Flow

Annual

USDFY, 2017FY, 2018

Net Income

375.8m122.4m

Depreciation and Amortization

9.1m13.1m

Accounts Receivable

11.5m(20.2m)

Inventories

(123.9m)(325.8m)

Accounts Payable

27.6m(3.2m)

Cash From Operating Activities

91.2m(12.7m)

Purchases of PP&E

(12.7m)(24.9m)

Cash From Investing Activities

(86.8m)84.0m

Long-term Borrowings

(964.9m)

Cash From Financing Activities

150.0m295.2m

Net Change in Cash

154.4m366.4m

Canaan Ratios

CNYY, 2019

Revenue/Employee

2.3m

Canaan Operating Metrics

FY, 2017H1, 2018FY, 2018H1, 2019Q3, 2019

Application-Specific Integrated Circuits Sold to Date

150 m

Average Cost per Computing Unit Sold

¥2.35 k¥2.60 k¥2.59 k¥2.82 k

Average Cost per Thash

¥328 ¥224 ¥203 ¥183

Average Selling Price Per Unit

¥4.40 k¥7.16 k¥4.73 k¥1.10 k

Average Selling Price per Thash

¥613 ¥617 ¥369 ¥72

Mining Machines Sales Volume (A10 series), set

490

Mining Machines Sales Volume (A7 series), set

294.52 k20.58 k20.58 k

Mining Machines Sales Volume (A8 series), set

245.74 k503.24 k212 k

Mining Machines Sales Volume (A9 series), set

35.32 k40.86 k

Mining Machines Sales Volume, set

294.52 k266.31 k559.14 k253.35 k

Total Computing Power Sold, thash/s

2.11 m3.09 m7.16 m3.90 m