Crypto firm Canaan's Q4 revenue doubles, loss misses estimates

Reuters

02/10

Crypto firm Canaan's Q4 revenue doubles, loss misses estimates

Overview

Crypto mining innovator's Q4 revenue rose 121.1% yr/yr, driven by record computing power sold
Q4 pretax loss wider than analyst expectations

Outlook

Canaan expects Q1 2026 revenue between $60 mln and $70 mln
Company aims to secure substantial power capacity by year-end 2026
Canaan focuses on expanding product portfolio for households and SMBs

Result Drivers

RECORD COMPUTING POWER SALES - Canaan sold a record 14.6 EH/s in Q4, driven by large-scale North American orders
PRODUCT MIX OPTIMIZATION - Gross profit improved due to product mix optimization and supply chain resilience
STABLE MINING REVENUE - Despite crypto market volatility, mining revenue remained stable at US$30.4 million, aided by increased operational hashrate

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Net Income		-$85.04 mln
Q4 Pretax Profit	Miss	-$84.23 mln	-$22.64 mln (6 Analysts)
Q4 Income From Operations		-$23.62 mln
Q4 Operating Expenses		-$38.20 mln

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"
Wall Street's median 12-month price target for Canaan Inc is $2.50, about 312.1% above its February 9 closing price of $0.61

Press Release: ID:nPn8qCJX8a

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. 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cryptocurrency peer group is \"buy\"</p></li><li><p>Wall Street's median 12-month price target for Canaan Inc is $2.50, about 312.1% above its February 9 closing price of $0.61</p></li></ul><p>Press Release: <span>ID:nPn8qCJX8a</span></p><p>For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4170","symbol_name":"电脑硬件、储存设备及电脑周边","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20260210:nL1N3Z60DV:1","article_id":"2610664127","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2610664127","pubTimestamp":1770723484,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Crypto firm Canaan's Q4 revenue doubles, loss misses estimatesOverviewCrypto mining innovator's Q4 revenue rose 121.1% yr/yr, driven by record computing power soldQ4 pretax loss wider than analyst exp","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4170":"电脑硬件、储存设备及电脑周边","BK4595":"比特币概念","CAN":"嘉楠科技","BK4600":"加密货币概念","BK4526":"热门中概股"},"translate_title":"加密货币公司嘉楠耘智第四季度收入翻倍，亏损未达预期","themeId":"9accc76588ffa116d95fd6d61575c5f2","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CAN":1.97},"content_text":"Crypto firm Canaan's Q4 revenue doubles, loss misses estimatesOverviewCrypto mining innovator's Q4 revenue rose 121.1% yr/yr, driven by record computing power soldQ4 pretax loss wider than analyst expectationsOutlookCanaan expects Q1 2026 revenue between $60 mln and $70 mlnCompany aims to secure substantial power capacity by year-end 2026Canaan focuses on expanding product portfolio for households and SMBsResult DriversRECORD COMPUTING POWER SALES - Canaan sold a record 14.6 EH/s in Q4, driven by large-scale North American ordersPRODUCT MIX OPTIMIZATION - Gross profit improved due to product mix optimization and supply chain resilienceSTABLE MINING REVENUE - Despite crypto market volatility, mining revenue remained stable at US$30.4 million, aided by increased operational hashrateKey DetailsMetricBeat/MissActualConsensus EstimateQ4 Net Income-$85.04 mlnQ4 Pretax ProfitMiss-$84.23 mln-$22.64 mln (6 Analysts)Q4 Income From Operations-$23.62 mlnQ4 Operating Expenses-$38.20 mlnAnalyst CoverageThe current average analyst rating on the shares is \"buy\" and the breakdown of recommendations is 6 \"strong buy\" or \"buy\", 1 \"hold\" and no \"sell\" or \"strong sell\"The average consensus recommendation for the blockchain & cryptocurrency peer group is \"buy\"Wall Street's median 12-month price target for Canaan Inc is $2.50, about 312.1% above its February 9 closing price of $0.61Press Release: ID:nPn8qCJX8aFor questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}