Canaan Inc. Reports Unaudited First Quarter 2020 Financial Results

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Go back to Canaan Inc. Reports Unaudited First Quarter 2020 Financial Results

Canaan Inc. (CAN) Reports Q1 Loss of $0.04 on Revenues of $9.64M

May 22, 2020 6:37 AM EDT

Canaan Inc. (NASDAQ: CAN) reported Q1 EPS of ($0.04). Revenue for the quarter came in at $9.6 million, versus $0 reported last year.

Basic and diluted net loss per ADS in the first quarter of 2020 was RMB0.25 (US$0.04) compared to RMB0.50 in the same period of 2019. Each ADS represents 15 of the Company's Class A ordinary shares.Total net revenues in the first quarter of 2020 increased by 44.6% to RMB68.3 million (US$9.6 million) from RMB47.2 million in the same period of 2019. The growth was mainly driven by increases in total computing power sold and... More