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Canaan (CAN)
NASDAQ:CAN
Earnings Data
Report Date
May 22, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.02Last Year’s EPS
-0.27Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Negative
The call highlighted very strong 2025 operational and revenue achievements — record quarterly and annual revenue, large institutional orders, record computing power sold, product launches (A16 XP), and expansion of mining operations and crypto treasury. However, significant near-term headwinds were emphasized: severe Bitcoin price volatility, non-cash valuation losses and inventory write-downs compressing profitability, an adjusted EBITDA loss, and an extremely cautious 2026 revenue outlook ($60–$70 million), implying a sharp slowdown. While the company has solid execution, liquidity, and strategic initiatives (power pipeline, product upgrades, and manufacturing footprint), the negative near-term demand outlook and notable one-time and recurring margin pressures weigh heavily on sentiment.Company Guidance
Record Quarterly and Full-Year Revenue
Q4 revenue of $196 million (company-stated QoQ growth of +30.4% in CEO remarks and +13.4% in CFO remarks) and +121.1% year-over-year. Full-year 2025 revenue of $530 million, up 139.6% YoY — the highest annual revenue in recent years.
Strong Product Sales and Computing Power Sold
Q4 product revenue $165 million, up +39.1% QoQ and +124.5% YoY. Record computing power sold in Q4 of 14.6 exahash (EH), up +45.7% QoQ and +60.9% YoY. Full-year computing power sold reached a record 36.5 EH, up +40.7% YoY.
Major North American Order and Timely Delivery
Secured a large-scale order of more than 50,000 A15 Pro units from a leading North American miner; revenue from North American customers in Q4 reached $125 million (accounting for >75% of product sales). The order was fully delivered by early January 2026.
Mining Business Expansion and Crypto Treasury
Mining revenue for full-year 2025 reached $113.2 million (vs. $44 million in 2024, an increase of ~+157% YoY). End-of-Q4 installed hash rate 9.91 EH (+8.6% QoQ), energized 7.7 EH; mined ~300 BTC in Q4; digital asset holdings of 1,750 BTC and 3,951 ETH (year-end valuation approx. $166 million).
Product and R&D Progress: A16 XP Launch
Launched A16 XP (next-generation air-cooled model) delivering >300 TH per unit with industry-leading power efficiency of 12.8 J/TH. Chip mass production underway; management expects mass production ramp beginning after Lunar New Year with volume ramp-up by end of Q1 2026.
Global Manufacturing Footprint and Supply Chain Resilience
Production footprint across Malaysia, the U.S., and Mainland China enabling compliance flexibility. Company reports securing key foundry capacity earlier than peers and completed cross-region coordination to meet tight delivery timelines during large order shipments.
Liquidity and Capital Management
Q4 cash inflow from sales ~$75 million and ~$80 million from strategic equity financing; ended Q4 with cash balance of $81 million. Executed $2 million of ADS repurchases (2.8 million ADSs) under a $30 million repurchase program. Operating expenses in Q4 were $38 million, down ~6% QoQ, reflecting cost discipline.
CAN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CAN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $0.61 | $0.56 | -6.77% |
Nov 18, 2025 | $0.85 | $1.03 | +21.18% |
Aug 14, 2025 | $0.82 | $0.78 | -4.88% |
May 20, 2025 | $0.82 | $0.76 | -7.32% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Canaan (CAN) report earnings?
Canaan (CAN) is schdueled to report earning on May 22, 2026, Before Open (Confirmed).
What is Canaan (CAN) earnings time?
Canaan (CAN) earnings time is at May 22, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CAN EPS forecast?
CAN EPS forecast for the fiscal quarter 2026 (Q1) is -0.02.