← Cango Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenues | ||||||||||
| Cost of revenue (exclusive of depreciation shown below) | $386.1m | $430.1m | $539.3m | $1.1b | $3.0b | $1.8b | $1.5b | $629.4m | $116.6m | |
| Total operating costs and expenses | — | — | — | — | $3.9b | $2.9b | $1.8b | $625.6m | $1.1b | |
| General and administrative | $101.3m | $151.1m | $236.6m | $265.7m | $276.2m | $299.5m | $157.0m | $250.2m | $28.9m | |
| Provision for credit losses | $156k | $20.0m | $56.5m | $109.6m | $203.4m | $319.4m | ($136.5m) | ($269.9m) | $1.7m | |
| Impairment loss from mining machines | — | — | — | — | — | — | — | — | $338.3m | |
| Gain from changes in fair value of crypto currencies | — | — | — | — | — | — | — | — | ($115k) | |
| Loss from changes in fair value of receivable for Bitcoin collateral | — | — | — | — | — | — | — | $25.2m | $96.5m | |
| Operating loss from continuing operations | $470.0m | $276.7m | $323.3m | $318.3m | ($23.2m) | ($947.1m) | ($73.8m) | $178.9m | ($437.1m) | |
| Interest income | — | — | $51.6m | $34.9m | $26.4m | $43.7m | $79.2m | $106.3m | $2.0m | |
| Net loss on equity securities | — | — | — | — | — | — | ($6k) | — | — | |
| Foreign exchange loss, net | ($25.4m) | $1.4m | $5.1m | ($8.8m) | $1.4m | $5.9m | $1.1m | $1.7m | ($225k) | |
| Other income | $15.8m | $32.7m | $82.9m | $49.1m | $41.9m | $52.1m | $30.7m | $8.3m | $4.1m | |
| Net income (loss) before income taxes from continuing operations | $468.5m | $396.0m | $487.8m | $3.7b | $12.3m | ($874.5m) | $55.6m | $301.1m | ($451.9m) | |
| Net income (loss) from continuing operations, net of tax | — | — | — | — | — | — | $2.9m | $4.8m | ($452.8m) | |
| Income (loss) from discontinued operations | — | — | — | — | — | — | $4.9m | $37.1m | ($129.8m) | |
| Net (loss) income from discontinued operations | — | — | — | — | — | — | ($8.4m) | $36.9m | ($169.2m) | |
| Net (loss) income | $341.0m | $302.7m | $390.9m | $3.4b | ($8.5m) | ($1.1b) | ($37.9m) | $299.8m | ($622.0m) | |
| Release accumulated other comprehensive loss | — | — | — | — | — | — | — | — | $44.3m | |
| Foreign currency translation adjustment | — | $109.0m | $10.4m | ($234.8m) | ($72.1m) | $253.9m | $45.5m | $41.0m | $5.3m | |
| Total comprehensive (loss) income, net of tax | $340.6m | $412.5m | $400.9m | $3.1b | ($80.7m) | ($857.3m) | $7.6m | $340.8m | ($572.4m) | |
| Basic | ||||||||||
| Diluted | ||||||||||
| Continuing operations (in dollars per share) | — | — | — | — | — | — | $0.01 | $0.02 | ($1.60) | |
| Discontinued operations (in dollars per share) | — | — | — | — | — | — | ($0.03) | $0.16 | ($0.60) | |
| Interest expense | ($13.0m) | ($19.0m) | ($13.5m) | ($2.8m) | ($14.5m) | ($16.8m) | ($4.1m) | ($659k) | ($20.0m) | |
| Other expenses | — | — | ($5.1m) | ($838k) | ($6.6m) | ($2.5m) | ($1.6m) | ($2.1m) | ($743k) | |
| Income tax expense | ($119.4m) | ($89.1m) | ($83.0m) | ($369.9m) | ($20.9m) | ($236.7m) | ($93.5m) | ($1.3m) | ($842k) | |
| Income tax expenses | — | — | — | — | — | — | ($13.3m) | ($184k) | ($39.3m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.