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Intchains Group Ltd. ADR (ICG)
NASDAQ:ICG
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Earnings Data
Report Date
Apr 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 20, 2024
|% Change Since: 103.01%
|Next Earnings Date:Apr 22, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant revenue growth, improved gross margins, and successful product innovation strategies. However, there were notable increases in operating expenses and losses due to cryptocurrency market volatility. Despite these challenges, the overall sentiment leans towards optimism due to the company's strategic initiatives and financial performance improvements.Company Guidance
During the Intchains Group's Q3 2024 earnings call, CFO Chaowei Yan detailed the company's robust financial growth and strategic initiatives. The company reported a third-quarter revenue of CNY 60.3 million (USD 8.6 million), marking a year-on-year increase of 781%, with overseas revenue accounting for 66.2%. Sales volume of ASIC chips rose by 26% to 207,838 units compared to the same period in 2023. The gross margin reached 67.7%, the highest since Q1 2023. Despite a CNY 13.1 million loss on the fair value of cryptocurrency due to Ether's 24.2% price drop by the end of Q3, Intchains achieved a net income of CNY 3.2 million (USD 450,000) and a non-GAAP adjusted net income of CNY 19.1 million (USD 912,000). The company also launched Goldshell Pay during the quarter and plans to introduce a hardware crypto wallet in Q4 as part of its blockchain application expansion. Intchains continues to focus on accumulating Ether, reaching 4,149 Ether by September 30, 2024, a 71.7% increase from June 30, while planning to produce new ASICs by Q1 2025.Revenue Surge
The company's third quarter revenue was CNY 60.3 million or USD 8.6 million, representing a year-on-year increase of 781%.
Gross Margin Improvement
The gross margin reached 67.7% in the third quarter, the highest level since Q1 2023, driven by higher margins on new ASIC chips.
Increase in ASIC Chip Sales
Sales volume of ASIC chips for the third quarter was 207,838 units, a 26% increase from the same period in 2023.
Ether Accumulation Strategy
Ether holdings increased to 4,149, a 71.7% rise from June 30, 2024, with Ether price surpassing the average cost of holdings by September 30.
Product Innovation
Launched Goldshell Pay, a one-stop payment solution for merchants, and plans to introduce a hardware crypto wallet in Q4 as part of blockchain application expansion.
Positive Shift in Net Income
Net income for the third quarter was CNY 3.2 million, and non-GAAP adjusted net income was CNY 19.1 million, both turning from a loss to a profit compared to the same period last year.
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ICG Earnings History
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
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ICG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 20, 2024 | $4.32 | $4.13 | -4.40% |
| Aug 15, 2024 | $5.74 | $6.00 | +4.53% |
| May 16, 2024 | $8.38 | $8.06 | -3.82% |
| Feb 28, 2024 | $10.10 | $8.53 | -15.54% |
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.
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FAQ
When does Intchains Group Ltd. ADR (ICG) report earnings?
Intchains Group Ltd. ADR (ICG) is schdueled to report earning on Apr 22, 2025, TBA Not Confirmed.
What is Intchains Group Ltd. ADR (ICG) earnings time?
Intchains Group Ltd. ADR (ICG) earnings time is at Apr 22, 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 ICG EPS forecast?
Currently, no data Available
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