Canaan Inc. (CAN) Income Statement
CAN 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCAN revenue and net income
Where CAN's revenue goes
2025Each bar shows an amount and its share of revenue. CAN kept −39.7% of revenue as net income.
CAN profit margins
CAN growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +96.7% | — | — | — |
| Gross profit | — | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CAN quarterly EPS vs estimates
Canaan beat the analyst EPS estimate in 1 of the last 7 quarters. Next report: November 17, 2026 (estimate $-0.06).
CAN income statement
| 2025 | 2024 | |
|---|---|---|
| Revenue | $529.7M | $269.3M |
| Cost of revenue | $488.6M | $353.6M |
| Gross profit | $41.2M | −$84.3M |
| Research & development | $63.1M | $61.3M |
| Sales, general & admin | $81.7M | $77.4M |
| Total operating expenses | $153.4M | $142.8M |
| Operating income | −$112.2M | −$227.1M |
| Interest income | $266,000 | $536,000 |
| Interest expense | $2.0M | $521,000 |
| Income before taxes | −$207.5M | −$172.3M |
| Income taxes | $2.8M | $77.5M |
| Net income | −$210.3M | −$249.8M |
| EBITDA | −$56.3M | −$143.3M |
| EPS (diluted) | −$0.57 | −$0.36 |
| Gross margin | 7.8% | −31.3% |
| Operating margin | −21.2% | −84.3% |
| Net margin | −39.7% | −92.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Revenue | $31.9M | $62.7M | $88.8M | $150.7M | $100.2M | $82.8M | $88.8M |
| Cost of revenue | $61.3M | $85.6M | $95.1M | $134.0M | $90.9M | $82.1M | $95.1M |
| Gross profit | −$29.4M | −$22.9M | −$6.4M | $16.6M | $9.3M | $646,000 | −$6.4M |
| Research & development | $14.9M | $15.4M | $16.6M | $16.4M | $16.4M | $18.9M | $16.6M |
| Sales, general & admin | $17.0M | $16.2M | $29.1M | $23.0M | $16.4M | $19.8M | $29.1M |
| Total operating expenses | $31.9M | $31.6M | $49.3M | $39.4M | $36.4M | $38.3M | $140.8M |
| Operating income | −$61.3M | −$54.5M | −$55.6M | −$22.7M | −$27.1M | −$37.6M | −$52.0M |
| Interest income | — | $150,000 | $39,000 | $94,000 | $76,000 | $57,000 | $107,000 |
| Interest expense | $492,812 | $929,000 | $260,000 | $403,532 | $385,000 | $351,000 | $260,000 |
| Income before taxes | −$96.5M | −$88.6M | −$7.6M | −$27.3M | −$10.3M | −$85.7M | −$7.6M |
| Income taxes | $1.3M | $190,000 | $85.3M | $495,654 | $773,000 | $705,000 | — |
| Net income | −$97.8M | −$88.7M | −$92.9M | −$27.8M | −$11.1M | −$86.4M | −$92.9M |
| EBITDA | −$54.1M | −$87.8M | $697,000 | −$12.9M | $1.7M | −$77.9M | — |
| EPS (diluted) | −$0.12 | −$0.13 | −$0.09 | −$0.36 | $0.03 | −$0.15 | −$0.33 |
| Gross margin | −92.1% | −36.5% | −7.2% | 11.0% | 9.3% | 0.8% | −7.2% |
| Operating margin | −192.0% | −86.9% | −62.7% | −15.1% | −27.0% | −45.5% | −58.6% |
| Net margin | −306.3% | −141.6% | −104.7% | −18.4% | −11.0% | −104.4% | −104.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CAN's financial statements (latest annual report filed April 15, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CAN financial results
In fiscal year 2025 (ended December 31, 2025), Canaan reported revenue of $529.7 million, up 96.7% from the year before. It had a net loss of $210.3 million, a net profit margin of −39.7%. Diluted earnings per share came to −$0.57.
See the CAN stock overview for the latest quote and news, or the CAN chart for price history and technical indicators.
CAN income statement FAQ
What is Canaan's annual revenue?
Canaan reported total revenue of $529.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 96.7% from $269.3 million the previous year.
Is Canaan profitable?
No. Canaan reported a net loss of $210.3 million in fiscal 2025, a net profit margin of −39.7%; its operating margin was −21.2%.
What is Canaan's gross margin?
Canaan's gross margin was 7.8% in fiscal 2025: for every $100 of revenue, Canaan kept $8 after the direct cost of its products and services.
How much does Canaan spend on research and development?
Canaan spent $63.1 million on research and development in fiscal 2025, 11.9% of revenue.
What are Canaan's earnings per share?
Canaan earned $-0.57 per diluted share in fiscal 2025, compared with $-0.36 a year earlier.
When will Canaan report its next earnings?
Canaan is expected to report results for the quarter ending September 30, 2026 on November 17, 2026 before the market opens.
When does Canaan's fiscal year end?
Canaan's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on April 15, 2026.