The earnings call highlights significant achievements in revenue growth, successful product transitions, and expansion in North America. However, it also outlines challenges such as Bitcoin price volatility and inventory write-downs. Despite these challenges, the company's strategic advancements and positive future outlook contribute to a balanced sentiment.

Company Guidance

During the Canaan Inc.'s third quarter 2024 earnings call, the company provided guidance for the coming quarter, projecting approximately $80 million in revenue, marking it as the best quarter of 2024. Despite a 7% decline in Bitcoin prices and a 10% increase in network hash rates, Canaan achieved $73.6 million in total revenue for Q3, driven by robust sales of its A14 and new A15 series miners. The company reported a 93.8% year-over-year increase in sales volume, delivering 7.0 million terahash per second in computing power. With a focus on expanding in the North American market, Canaan secured significant orders from major mining companies like CleanSpark and HIVE, and aims to reach a 10 exahash capacity in the region by mid-2025. Despite challenges, Canaan's mining revenue remained stable at $9 million, supported by producing 147 Bitcoins and improving mining operations in Africa. The company also highlighted ongoing R&D investments, targeting power efficiency improvements in future models, and announced a new $30 million financing to support its expansion efforts.

Record Revenue and Sales Volume

Reached USD 73.6 million in total revenue, the highest in the past 5 quarters, with a year-over-year revenue growth of 121% and a sales volume of 7.3 million terahash per second, marking the highest in the past 11 quarters.

Successful Product Transition and Innovation

Completed the transition to mass production of the A15 series and initiated small-scale delivery ahead of schedule. A15 Pro delivers 215 terahash per second with enhanced power efficiency.

Expansion in North America

Secured significant orders from North American customers such as CleanSpark and HIVE for A15 series, reflecting a notable recovery in demand.

Mining Operations and Bitcoin Holdings

Mined 147 Bitcoins, achieving a 5% quarter-over-quarter increase, and increased Bitcoin holdings to a record high of 1,231 Bitcoins.

---

Canaan (CAN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

CAN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 09, 2025	2024 (Q4)	-0.08 / -	-0.011	―	―	―
Nov 20, 2024	2024 (Q3)	-0.09 / -0.01	0.002	-850.00% (-0.02)	―
Aug 15, 2024	2024 (Q2)	-0.02 / -0.04	-0.043	18.60% (<+0.01)	―
May 17, 2024	2024 (Q1)	-0.04 / -0.01	-0.034	67.65% (+0.02)	―
Feb 27, 2024	2023 (Q4)	-0.02 / -0.30	-0.377	20.42% (+0.08)	―
Nov 28, 2023	2023 (Q3)	-0.02 / <0.01	0.003	-33.33% (>-0.01)	―
Aug 29, 2023	2023 (Q2)	0.07 / -0.04	0.035	-222.86% (-0.08)	―
May 26, 2023	2023 (Q1)	-0.09 / -0.03	0.025	-236.00% (-0.06)	―
Mar 07, 2023	2022 (Q4)	-0.15 / -0.38	0.071	-630.99% (-0.45)	―
Nov 14, 2022	2022 (Q3)	0.09 / <0.01	0.028	-89.29% (-0.03)	―

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
Nov 20, 2024	$1.59	$1.67	+5.03%
Aug 15, 2024	$0.83	$0.83	0.00%
May 17, 2024	$1.17	$1.05	-10.26%
Feb 27, 2024	$1.97	$1.75	-11.17%

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 Apr 09, 2025, TBA Not Confirmed.

What is Canaan (CAN) earnings time?

Canaan (CAN) earnings time is at Apr 09, 2025, TBA Not 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 2024 (Q4) is -$0.08.

---

Become an Expert with TipRanks Premium

What am I Missing?

Make informed decisions based on Top Analysts' activity

Know what industry insiders are buying

Get actionable alerts from top Wall Street Analysts

Find out before anyone else which stock is going to shoot up

Get powerful stock screeners & detailed portfolio analysis

Subscribe Now See Plans & Pricing