← Canaan Inc.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current assets: | |||||||||
| Cash and Cash Equivalents, at Carrying Value | $258.9m | $74.2m | $60.0m | $421.2m | $707.3m | — | $96.5m | $80.8m | |
| Prepaid Expense and Other Assets, Current | $186.7m | $29.6m | $48.5m | $271.3m | $244.9m | $122.2m | $90.9m | $99.7m | |
| Short-term Investments | — | $1.6m | $9.6m | — | — | — | — | — | |
| Accounts receivable, net | $23.7m | $2.9m | $7.1m | $367k | $0 | $3.0m | $1.5m | $19.3m | |
| Prepayments and other current assets | $186.7m | $206.0m | $316.4m | $1.7b | $1.7b | $122.2m | $90.9m | $99.7m | |
| Cryptocurrency receivable, non-current | — | — | — | — | — | — | $19.1m | $35.1m | |
| Allowance For Doubtful Accounts Receivable | — | — | — | — | — | — | ($1.1m) | ($92k) | |
| Cash And Cash Equivalents | — | — | — | — | — | $96.2m | $96.5m | $80.8m | |
| Cash Cash Equivalents And Short Term Investments | — | — | — | — | — | $96.2m | $96.5m | $80.8m | |
| Cash Equivalents | — | — | — | $421.1m | — | $96.2m | $96.5m | — | |
| Gross Accounts Receivable | — | — | — | — | — | — | $2.6m | $19.4m | |
| Non Current Prepaid Assets | — | — | — | $464k | — | $486k | — | — | |
| Other Current Assets | — | — | — | — | — | $9.3m | $3.4m | $3.0m | |
| Other Receivables | — | — | — | — | — | — | $50.5m | $52.7m | |
| Prepaid Assets | — | — | — | — | — | $50.0m | $21.0m | $36.1m | |
| Taxes Receivable | — | — | — | — | — | $55.4m | $62.6m | $57.8m | |
| Inventory, Net | $585.7m | $28.2m | $34.6m | $127.5m | $213.7m | $142.3m | $94.6m | $180.8m | |
| Assets, Current | $1.4b | $135.1m | $154.4m | $827.5m | $561.1m | $363.7m | $334.0m | $433.3m | |
| Total current assets | $1.4b | $940.8m | $1.0b | $5.3b | $3.9b | $363.7m | $334.0m | $433.3m | |
| Property, Plant and Equipment, Net | $27.9m | $3.2m | $1.9m | $29.1m | $86.7m | $29.5m | $40.2m | $44.0m | |
| Intangible assets | — | — | — | — | — | — | $901k | $689k | |
| Goodwill And Other Intangible Assets | — | — | — | — | — | $0 | $901k | $689k | |
| Other Intangible Assets | — | — | — | — | — | — | $901k | $689k | |
| Operating Lease, Right-of-Use Asset | — | $3.3m | $2.2m | $4.9m | $4.3m | $1.7m | $3.5m | $2.9m | |
| Other Assets, Noncurrent | $6.3m | $754k | $388k | $464k | $2.5m | $486k | $476k | $489k | |
| Operating lease right-of-use assets | — | $22.8m | $14.4m | $30.9m | $29.6m | $1.7m | $3.5m | $2.9m | |
| Additional Financial Items | |||||||||
| Accounts Receivable, after Allowance for Credit Loss, Current | $23.7m | $413k | $1.1m | $58k | — | $3.0m | $1.5m | $19.3m | |
| Cash | — | — | — | $2.7b | $707.3m | $96.2m | $96.5m | $80.8m | |
| Cryptocurrency receivable, current | — | — | — | — | — | — | $50.5m | $52.7m | |
| Cryptocurrency | — | — | — | $20.3m | $87.3m | $28.3m | $61.8m | $83.3m | |
| Deferred tax assets | — | — | — | $99.0m | $151.4m | $66.8m | $295k | $191k | |
| Other non-current assets | $6.3m | $5.2m | $2.5m | $3.0m | $17.4m | $486k | $476k | $489k | |
| Non-current financial investment | — | — | $25k | $20.0m | $20.0m | $2.8m | $2.8m | $2.8m | |
| Current portion of long-term loans | — | — | — | — | — | — | $16.7m | $28.5m | |
| Contract liabilities | $6.9m | $8.3m | $430.4m | $1.3b | $4.6m | $19.6m | $24.2m | $9.3m | |
| Income tax payable | $609k | — | — | $148.7m | $50.3m | $3.5m | $10.9m | $11.4m | |
| Accrued liabilities and other current liabilities | $58.0m | $40.7m | $63.3m | $437.4m | $336.7m | $64.2m | $43.4m | $54.5m | |
| Operating lease liabilities, current | — | $9.8m | $12.6m | $14.8m | $16.1m | $1.2m | $1.2m | $1.7m | |
| Long-term loans | — | — | — | — | — | — | $7.3m | $23.7m | |
| Operating lease liabilities, non-current | — | $13.4m | $3.3m | $16.3m | $10.0m | $210k | $1.7m | $948k | |
| Other non-current liabilities | — | — | $8.0m | $5.8m | $4.2m | $9.7m | $9.1m | $9.6m | |
| Ordinary shares value | $1k | $1k | $1k | $1k | $1k | — | — | $1k | |
| Statutory reserves | $97.3m | $97.3m | $97.3m | $97.4m | $102.6m | $14.9m | $14.9m | $14.9m | |
| Accumulated Depreciation | — | — | — | — | — | ($86.1m) | ($71.9m) | ($110.8m) | |
| Capital Lease Obligations | — | — | — | — | — | $1.4m | $2.9m | $2.7m | |
| Construction In Progress | — | — | — | — | — | $0 | $10.0m | $4.4m | |
| Current Capital Lease Obligation | — | — | — | — | — | $1.2m | $1.2m | $1.7m | |
| Current Debt | — | — | — | — | — | — | $84.8m | $28.5m | |
| Current Debt And Capital Lease Obligation | — | — | — | — | — | $1.2m | $86.0m | $30.2m | |
| Current Deferred Assets | — | — | — | — | — | $7.5m | $3.8m | $2.7m | |
| Current Deferred Liabilities | — | — | — | — | — | $26.8m | $37.1m | $14.9m | |
| Current Provisions | — | — | — | — | — | $21.6m | $582k | $8.1m | |
| Derivative Product Liabilities | — | — | — | $10.4m | $0 | — | — | — | |
| Finished Goods | — | — | — | — | — | $31.3m | $32.5m | $57.5m | |
| Gross PPE | — | — | — | — | — | $117.3m | $115.6m | $157.7m | |
| Invested Capital | — | — | — | — | — | $348.2m | $358.3m | $489.6m | |
| Investmentin Financial Assets | — | — | — | — | — | $2.8m | $2.8m | $2.8m | |
| Investments And Advances | — | — | — | — | — | $2.8m | $2.8m | $2.8m | |
| Land And Improvements | — | — | — | — | — | $0 | $120k | $120k | |
| Leases | — | — | — | — | — | $5.8m | $5.1m | $5.2m | |
| Long Term Capital Lease Obligation | — | — | — | — | — | $210k | $1.7m | $948k | |
| Machinery Furniture Equipment | — | — | — | — | — | $14.5m | $15.9m | $18.3m | |
| Net PPE | — | — | — | — | — | $31.2m | $43.7m | $46.9m | |
| Net Tangible Assets | — | — | — | — | — | $348.2m | $265.4m | $436.7m | |
| Non Current Accounts Receivable | — | — | — | — | — | — | $19.1m | $35.1m | |
| Non Current Deferred Assets | — | — | — | — | — | $66.8m | $295k | $191k | |
| Non Current Deferred Liabilities | — | — | — | — | — | $9.2m | $9.2m | $9.4m | |
| Non Current Deferred Taxes Assets | — | — | — | — | — | $66.8m | $295k | $191k | |
| Ordinary Shares Number | — | — | — | — | $2.5b | $3.5b | $5.4b | $10.4b | |
| Other Current Borrowings | — | — | — | — | — | — | $84.8m | $28.5m | |
| Other Current Liabilities | — | — | — | — | — | $47.7m | $5.4m | $7.5m | |
| Other Equity Adjustments | — | — | — | — | — | ($29.0m) | ($42.6m) | ($41.8m) | |
| Other Equity Interest | — | — | — | ($157) | ($145) | — | — | — | |
| Other Payable | — | — | — | — | — | $19.7m | $22.7m | $26.7m | |
| Other Properties | — | — | — | — | — | $97.0m | $84.6m | $129.7m | |
| Properties | — | — | — | — | — | $0 | $0 | $0 | |
| Raw Materials | — | — | — | — | — | $95.1m | $56.5m | $99.8m | |
| Restricted Cash | — | — | — | $7.4m | $0 | — | — | — | |
| Share Issued | — | — | — | — | $2.8b | $3.8b | $5.6b | $10.7b | |
| Tangible Book Value | — | — | — | — | — | $348.2m | $265.4m | $436.7m | |
| Treasury Shares Number | — | — | — | — | $308.1m | $257.1m | $229.3m | $367.0m | |
| Work In Process | — | — | — | — | — | $15.9m | $5.6m | $23.5m | |
| Working Capital | — | — | — | — | — | $228.5m | $155.5m | $302.2m | |
| Total non-current assets | $34.3m | $50.6m | $29.2m | $358.8m | $903.7m | $129.6m | $129.0m | $169.6m | |
| Total shareholders' equity | $241.0m | $692.8m | $432.6m | $3.5b | $4.2b | $348.2m | $266.3m | $437.4m | |
| Total Capitalization | — | — | — | — | — | $348.2m | $273.5m | $461.1m | |
| Total Debt | — | — | — | — | — | $1.4m | $95.0m | $54.9m | |
| Total Tax Payable | — | — | — | — | — | $12.0m | $12.8m | $18.1m | |
| Assets | $1.4b | $142.4m | $158.8m | $883.8m | $692.2m | $493.3m | $463.0m | $602.9m | |
| Total assets | $1.4b | $991.4m | $1.0b | $5.6b | $4.8b | $493.3m | $463.0m | $602.9m | |
| LIABILITIES AND EQUITY | |||||||||
| Current liabilities: | |||||||||
| Operating Lease, Liability, Current | — | $1.4m | $1.9m | $2.3m | $2.3m | $1.2m | $1.2m | $1.7m | |
| Accounts Payable, Current | $47.2m | $14.2m | $5.7m | $22.5m | $16.9m | $6.2m | $14.0m | $25.6m | |
| Operating Lease, Liability, Noncurrent | — | $1.9m | $509k | $2.6m | $1.5m | $210k | $1.7m | $948k | |
| Long-term Debt, Current Maturities | — | — | — | — | — | — | $16.7m | $28.5m | |
| Long-term Debt, Excluding Current Maturities | — | — | — | — | — | — | $7.3m | $23.7m | |
| Current Deferred Revenue | — | — | — | — | — | $26.8m | $37.1m | $14.9m | |
| Payables And Accrued Expenses | — | — | — | — | — | $37.9m | $49.5m | $70.5m | |
| Liabilities, Current | $1.2b | $41.0m | $90.8m | $327.2m | $76.0m | $135.2m | $178.6m | $131.1m | |
| Total current liabilities | $1.2b | $285.2m | $592.5m | $2.1b | $524.1m | $135.2m | $178.6m | $131.1m | |
| Deferred Income Tax Liabilities, Net | — | — | — | — | — | — | $153k | $117k | |
| Other Liabilities, Noncurrent | — | — | $1.2m | $914k | $604k | $9.7m | $9.1m | $9.6m | |
| Deferred tax liabilities | — | — | — | — | — | — | $153k | $117k | |
| Long Term Debt And Capital Lease Obligation | — | — | — | — | — | $210k | $9.0m | $24.7m | |
| Non Current Deferred Taxes Liabilities | — | — | — | — | — | $0 | $153k | $117k | |
| Deferred Tax Liabilities, Net | — | — | — | — | — | — | $153k | $117k | |
| Liabilities | $1.2b | $42.9m | $92.5m | $341.1m | $78.0m | $145.1m | $196.8m | $165.5m | |
| Total liabilities | $1.2b | $298.6m | $603.8m | $2.2b | $538.3m | $145.1m | $196.8m | $165.5m | |
| Stockholders’ equity: | |||||||||
| Common Stock, Value, Issued | $1k | $1k | $1k | $1k | $1k | — | — | — | |
| Retained Earnings (Accumulated Deficit) | $53.9m | ($140.9m) | ($183.2m) | $126.1m | $176.9m | ($219.6m) | ($450.5m) | ($660.8m) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($65.2m) | ($8.0m) | ($12.2m) | ($16.0m) | ($702k) | ($43.9m) | ($57.5m) | ($56.7m) | |
| Additional Paid in Capital, Common Stock | $155.0m | $234.4m | $250.5m | $453.7m | $478.2m | $653.9m | $816.4m | $1.2b | |
| Treasury stocks (US$0.00000005 par value; 229,281,465 shares and 366,981,615 shares as of December 31, 2024 and 2025, respectively) | — | — | ($23.9m) | ($231.3m) | ($380.5m) | ($57.1m) | ($57.1m) | ($37.2m) | |
| Additional paid-in capital | $155.0m | $1.6b | $1.6b | $2.9b | $3.3b | $653.9m | $816.4m | $1.2b | |
| Accumulated other comprehensive loss | ($65.2m) | ($55.5m) | ($79.8m) | ($101.9m) | ($4.8m) | ($43.9m) | ($57.5m) | ($56.7m) | |
| Accumulated deficit | $53.9m | ($980.6m) | ($1.2b) | $803.3m | $1.2b | ($219.6m) | ($450.5m) | ($660.8m) | |
| Capital Stock | — | — | — | — | — | $0 | $0 | $1k | |
| Gains Losses Not Affecting Retained Earnings | — | — | — | — | — | ($29.0m) | ($42.6m) | ($41.8m) | |
| Treasury Stock | — | — | — | — | — | $57.1m | $57.1m | $37.2m | |
| Stockholders' Equity Attributable to Parent | $241.0m | $99.5m | $66.3m | $542.7m | $614.1m | $348.2m | $266.3m | $437.4m | |
| Total Equity Gross Minority Interest | — | — | — | — | — | $348.2m | $266.3m | $437.4m | |
| Total Non Current Liabilities Net Minority Interest | — | — | — | — | — | $9.9m | $18.2m | $34.4m | |
| Liabilities and Equity | $1.4b | $142.4m | $158.8m | $883.8m | $692.2m | $493.3m | $463.0m | $602.9m | |
| Total liabilities and shareholders' equity | $1.4b | $991.4m | $1.0b | $5.6b | $4.8b | $493.3m | $463.0m | $602.9m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.