Overview of Financial Statements
Financial statements are records that provide an overview of a company's financial performance and position. There are three main types of financial statements:
- Income Statement: Shows the company's revenue, expenses, and profit over a specific period.
- Balance Sheet: Provides a snapshot of the company's assets, liabilities, and equity at a specific point in time.
- Cash Flow Statement: Details the cash inflows and outflows from operating, investing, and financing activities over a period.
This page presents both annual and quarterly data for these financial statements. The charts below provide a visual representation of the key metrics from each statement, helping you to quickly understand the financial health of Canaan.
Income Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 |
|---|---|---|---|---|---|---|---|
| Revenue | $211.48M | $656.32M | $771.14M | $68.58M | $1.42B | $2.71B | $1.31B |
| Cost of Revenue | $452.26M | $424.34M | $330.31M | $62.80M | $1.94B | $2.20B | $703.70M |
| Gross Profit | $-240.78M | $231.98M | $440.83M | $5.79M | $-516.00M | $508.12M | $604.38M |
| Gross Profit Ratio | -113.90% | 35.35% | 57.20% | 8.44% | -36.27% | 18.78% | 46.20% |
| Research and Development Expenses | $64.84M | $82.36M | $52.06M | $21.45M | $168.98M | $189.68M | $99.77M |
| General and Administrative Expenses | $71.25M | $88.73M | $90.87M | $20.09M | $347.03M | $146.68M | $125.26M |
| Selling and Marketing Expenses | $8.18M | $9.48M | $15.52M | $3.06M | $21.92M | $38.73M | $20.72M |
| Selling General and Administrative Expenses | $79.42M | $98.43M | $106.39M | $23.22M | $369.55M | $185.41M | $145.99M |
| Other Expenses | $25.83M | $- | $- | $- | $- | $- | $- |
| Operating Expenses | $170.10M | $145.39M | $125.82M | $39.56M | $505.38M | $262.20M | $209.26M |
| Cost and Expenses | $622.36M | $569.72M | $456.13M | $102.36M | $2.44B | $2.46B | $912.96M |
| Interest Income | $956.00K | $2.39M | $1.17M | $828.76K | $13.13M | $45.67M | $5.84M |
| Interest Expense | $- | $- | $- | $549.03K | $2.86M | $7.71M | $- |
| Depreciation and Amortization | $59.64M | $33.94M | $2.18M | $4.79M | $34.16M | $13.14M | $9.08M |
| EBITDA | $-330.11M | $84.51M | $285.16M | $-34.11M | $-1.02B | $38.73M | $62.81M |
| EBITDA Ratio | -156.10% | 11.76% | 36.90% | -49.73% | -71.64% | 9.48% | 31.08% |
| Operating Income | $-410.88M | $43.25M | $282.38M | $-38.89M | $-1.05B | $243.25M | $397.44M |
| Operating Income Ratio | -194.29% | 6.59% | 36.62% | -56.71% | -74.04% | 8.99% | 30.38% |
| Total Other Income Expenses Net | $-54.61M | $46.05M | $33.81M | $5.94M | $904.71M | $9.77M | $345.85M |
| Income Before Tax | $-465.49M | $88.98M | $316.19M | $-32.95M | $-1.03B | $200.24M | $400.97M |
| Income Before Tax Ratio | -220.12% | 13.56% | 41.00% | -48.05% | -72.72% | 7.40% | 30.65% |
| Income Tax Expense | $-51.34M | $18.59M | $7.75M | $- | $- | $77.81M | $25.15M |
| Net Income | $-414.15M | $70.40M | $308.44M | $-32.95M | $-1.03B | $122.43M | $375.82M |
| Net Income Ratio | -195.84% | 10.73% | 40.00% | -48.05% | -72.72% | 4.53% | 28.73% |
| EPS | $-0.16 | $0.03 | $0.12 | $-0.01 | $-0.07 | $0.01 | $0.03 |
| EPS Diluted | $-0.16 | $0.03 | $0.12 | $-0.01 | $-0.07 | $0.01 | $0.03 |
| Weighted Average Shares Outstanding | 2.58B | 2.58B | 2.58B | 2.35B | 2.15B | 1.98B | 1.97B |
| Weighted Average Shares Outstanding Diluted | 2.58B | 2.58B | 2.58B | 2.35B | 2.15B | 1.98B | 1.97B |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source |
Balance Sheet
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 |
|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $96.15M | $102.30M | $421.67M | $59.94M | $516.61M | $258.94M | $176.50M |
| Short Term Investments | $- | $3.35M | $- | $9.56M | $11.01M | $- | $90.00M |
| Cash and Short Term Investments | $96.15M | $105.65M | $421.67M | $69.50M | $527.61M | $258.94M | $266.50M |
| Net Receivables | $58.40M | $- | $57.77K | $15.39M | $2.87M | $23.69M | $1.31M |
| Inventory | $142.29M | $213.20M | $127.61M | $34.55M | $196.07M | $585.67M | $259.85M |
| Other Current Assets | $66.84M | $239.19M | $281.49M | $34.98M | $-592.09M | $-669.37M | $651.91M |
| Total Current Assets | $363.68M | $559.80M | $828.38M | $154.29M | $940.81M | $1.37B | $1.18B |
| Property Plant Equipment Net | $31.16M | $90.26M | $34.01M | $4.08M | $45.37M | $27.93M | $18.40M |
| Goodwill | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $7.55M | $- | $- | $- | $- | $- | $- |
| Long Term Investments | $2.82M | $2.89M | $3.14M | $3.83K | $- | $- | $- |
| Tax Assets | $66.81M | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $36.37M | $37.05M | $19.21M | $387.57K | $5.25M | $6.34M | $5.26M |
| Total Non-Current Assets | $137.16M | $130.20M | $56.36M | $4.47M | $50.62M | $34.27M | $23.66M |
| Other Assets | $-7.55M | $- | $- | $- | $- | $- | $- |
| Total Assets | $493.30M | $690.00M | $884.74M | $158.76M | $991.43M | $1.40B | $1.20B |
| Account Payables | $6.25M | $16.70M | $22.50M | $5.73M | $14.16M | $6.87M | $7.75M |
| Short Term Debt | $1.22M | $2.31M | $2.32M | $9.39M | $19.61M | $83.26M | $- |
| Tax Payables | $11.98M | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $19.61M | $- | $- | $- | $- | $- | $- |
| Other Current Liabilities | $96.14M | $56.24M | $302.33M | $75.65M | $7.20M | $8.84M | $14.15M |
| Total Current Liabilities | $135.19M | $75.81M | $327.54M | $90.76M | $285.23M | $1.16B | $345.98M |
| Long Term Debt | $210.00K | $1.44M | $2.56M | $1.02M | $13.40B | $- | $- |
| Deferred Revenue Non-Current | $9.19M | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $516.00K | $598.00K | $11.37M | $719.70K | $-13.39B | $- | $- |
| Total Non-Current Liabilities | $9.92M | $2.05M | $13.90M | $1.74M | $13.40M | $- | $- |
| Other Liabilities | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities | $145.11M | $77.86M | $341.44M | $92.50M | $298.63M | $1.16B | $345.98M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $- | $- | $157 | $153 | $1.00K | $1.00K | $1.00K |
| Retained Earnings | $-219.63M | $210.95M | $141.50M | $-168.26M | $-883.27M | $151.24M | $433.60M |
| Accumulated Other Comprehensive Income Loss | $-28.99M | $-37.18M | $-16.01M | $-12.22M | $-55.54M | $-65.23M | $-1,000 |
| Other Total Stockholders Equity | $596.80M | $435.17M | $432.69M | $261.50M | $1.04B | $8.44M | $-306.28M |
| Total Stockholders Equity | $348.19M | $612.13M | $543.31M | $66.26M | $692.79M | $240.98M | $857.24M |
| Total Equity | $348.19M | $612.13M | $543.31M | $66.26M | $692.79M | $240.98M | $857.24M |
| Total Liabilities and Stockholders Equity | $493.30M | $690.00M | $884.74M | $158.76M | $991.43M | $1.40B | $1.20B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $493.30M | $690.00M | $884.74M | $158.76M | $991.43M | $1.40B | $1.20B |
| Total Investments | $2.82M | $6.25M | $3.14M | $9.56M | $11.01M | $- | $90.00M |
| Total Debt | $1.43M | $1.45M | $2.56M | $5.83M | $113.30M | $1.05B | $- |
| Net Debt | $-94.73M | $-100.85M | $-419.11M | $-54.11M | $-403.31M | $790.07M | $-176.50M |
Cash Flow Statement
| Breakdown | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 | December 31, 2019 | December 31, 2018 | December 31, 2017 |
|---|---|---|---|---|---|---|---|
| Net Income | $-414.15M | $70.40M | $308.44M | $-32.95M | $-1.03B | $122.43M | $375.82M |
| Depreciation and Amortization | $59.64M | $36.21M | $4.94M | $6.84M | $45.09M | $13.14M | $9.08M |
| Deferred Income Tax | $-45.69M | $- | $- | $- | $- | $- | $- |
| Stock Based Compensation | $42.07M | $63.48M | $76.34M | $451.91K | $270.24M | $18.59M | $95.53M |
| Change in Working Capital | $16.11M | $-248.19M | $-292.11M | $-28.34M | $-156.05M | $82.17M | $-639.02M |
| Accounts Receivables | $-3.02M | $58.43K | $1.06M | $-689.20K | $20.82M | $-20.23M | $11.48M |
| Inventory | $-123.95M | $-233.87M | $-115.91M | $-14.36M | $-157.33M | $-325.82M | $-123.93M |
| Accounts Payables | $-10.24M | $- | $- | $- | $- | $- | $- |
| Other Working Capital | $153.31M | $-14.38M | $-177.26M | $-13.29M | $-19.54M | $428.22M | $-526.57M |
| Other Non Cash Items | $218.39M | $-105.84M | $104.26M | $60.48M | $595.17M | $-249.07M | $249.79M |
| Net Cash Provided by Operating Activities | $-123.62M | $-183.94M | $201.86M | $6.48M | $-280.06M | $-12.74M | $91.20M |
| Investments in Property Plant and Equipment | $-3.31M | $-17.88M | $-5.63M | $-333.34K | $-8.38M | $-24.91M | $-12.66M |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $- |
| Purchases of Investments | $- | $- | $- | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- | $- | $- | $- |
| Other Investing Activities | $42.94M | $9.71M | $6.48M | $-7.26M | $-7.95M | $108.89M | $-74.12M |
| Net Cash Used for Investing Activities | $39.63M | $-8.16M | $846.22K | $-7.59M | $-16.33M | $83.98M | $-86.78M |
| Debt Repayment | $- | $- | $-5.49M | $- | $- | $143.52M | $- |
| Common Stock Issued | $67.85M | $- | $- | $- | $- | $- | $22.98M |
| Common Stock Repurchased | $- | $-37.38M | $- | $-6.13M | $- | $- | $- |
| Dividends Paid | $- | $- | $- | $- | $- | $- | $- |
| Other Financing Activities | $22.16M | $-29.20M | $-4.72M | $-11.02M | $104.49M | $151.68M | $150.00M |
| Net Cash Used Provided by Financing Activities | $90.00M | $-56.59M | $138.93M | $-17.15M | $277.95M | $295.20M | $150.00M |
| Effect of Forex Changes on Cash | $-11.41M | $-80.61M | $25.39M | $-1.50M | $-1.93M | $2.27M | $-1.30M |
| Net Change in Cash | $-5.40M | $-295.39M | $365.40M | $-19.77M | $-20.36M | $368.71M | $176.50M |
| Cash at End of Period | $96.15M | $102.30M | $427.56M | $60.63M | $524.85M | $545.21M | $176.50M |
| Cash at Beginning of Period | $101.55M | $397.69M | $62.15M | $80.40M | $545.21M | $176.50M | $- |
| Operating Cash Flow | $-123.62M | $-183.94M | $201.86M | $6.48M | $-280.06M | $-12.74M | $91.20M |
| Capital Expenditure | $-3.31M | $-17.88M | $-5.63M | $-333.34K | $-8.38M | $-24.91M | $-12.66M |
| Free Cash Flow | $-126.93M | $-201.82M | $196.23M | $6.15M | $-288.44M | $-37.65M | $78.54M |