Operating & Financial Results For the Second Quarter Ended June 30, 2024 August 15, 2024 Chairman & CEO CFO Nangeng Zhang Jin Cheng "James" Safe Harbor Statement NASDAQ: CAN AUGUST 2024 2 This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), including adjusted EBITDA (including adjusted EBITDA margin), non-GAAP net income, non-GAAP diluted earnings per share/ADS and cash flow. These non-GAAP measures should ...

Company Performance - Canaan reported a quarterly loss of $0.15 per share, better than the Zacks Consensus Estimate of a loss of $0.30, and an improvement from a loss of $0.58 per share a year ago, indicating a 50% earnings surprise [1] - The company achieved revenues of $71.86 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 38.46%, although this represents a decline from year-ago revenues of $73.85 million [1] - Over the last four quarters, Canaan has exceeded consensus EPS estimates two times and topped consensus revenue estimates four times [1] Stock Outlook - Canaan shares have declined approximately 64% since the beginning of the year, contrasting with the S&P 500's gain of 14.4% [2] - The company's earnings outlook is mixed, with the current consensus EPS estimate for the upcoming quarter at -$0.30 on $61 million in revenues, and -$0.90 on $225 million in revenues for the current fiscal year [4] Industry Context - The Computer - Software industry, to which Canaan belongs, is currently ranked in the bottom 46% of over 250 Zacks industries, suggesting potential challenges for stock performance [5] - Another company in the same industry, Verint Systems, is expected to report quarterly earnings of $0.53 per share, reflecting a year-over-year increase of 10.4%, with revenues projected at $213.22 million, up 1.3% from the previous year [5]

- Revenue Surpasses Guidance, up 104.8% QoQ - - Profitability Improves with Operating Loss Narrows by 60.9% YoY and 31.5% QoQ -SINGAPORE, Aug. 15, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended June 30, 2024.Second Quarter 2024 Operating and Financial HighlightsRevenues were US$71.9 million, which beat the previous guidance of US$70 million and incr ...

SINGAPORE, Aug. 6, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the second quarter ended June 30, 2024, before the U.S. market opens on August 15, 2024. The Company's management team will hold a conference call at 8:00 A.M. on August 15, 2024, U.S. Eastern Time (8:00 P.M. on the same day, Singapore Time) to discuss the financial results. Details for the co ...

NASHVILLE, Tenn., July 29, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN), a leader in high-performance computing solutions and creator of ASIC Bitcoin miners, announced its successful participation in the Bitcoin 2024 conference, held from July 25-27 which attracts approximately 35000 people. Canaan showcased its latest Bitcoin miners, including the Avalon Miner A15 series, Avalon Box, Avalon Nano 3, and One-stop Mining Solutions. Attendees experienced live demonstrations and gained insights into Canaan's ...

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MIAMI, June 26, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN), the creator of ASIC Bitcoin miners, unveiled its latest advancement, the Avalon Immersion Cooling Miner A1566I, with a hash rate of 249T and an energy efficiency of 19J/TH with a power consumption of 4500W, at the esteemed Mining Disrupt 2024 conference. Ning Zhang, Canaan's Vice President and General Manager of Canaan U.S. expressed his enthusiasm: "We are thrilled to introduce the Avalon Miner A1566I. This product epitomizes our commitment to ...

Investment Rating - The report does not provide a specific investment rating for the company, 嘉楠科技 (CAN.US) [1] Core Insights - 嘉楠科技 reported total revenue of $35.09 million for FY24Q1, exceeding the previous expectation of $33 million by 6% [1] - The main revenue source was from mining machine sales, amounting to $23.4 million, which represents a 52% year-over-year decline from FY23Q4's $49.1 million [1] - The company achieved a net loss of $39.4 million, which is a 71.7% improvement compared to the previous quarter [1] - 嘉楠科技 held a record high of 1,057 bitcoins through its mining operations [1] Financial Performance - Total revenue for FY24Q1 was $35.09 million, surpassing expectations [1] - Revenue from mining machine sales was $23.4 million, down 52% year-over-year [1] - Mining revenue reached $10.46 million, a significant increase of 182.1% quarter-over-quarter [1] - The company’s market capitalization is $356 million [1] - The company sold 3.4 million Thash/s of computing power in FY24Q1 [1] Mining Machine Sales - 嘉楠科技 continues to sell its A14 series mining machines, with significant deliveries expected in Q2 and Q3 of this year [1] - The newly launched Avalon A1566 mining machine has an average computing power of 185 TH/s and an energy consumption of 18.5 J/T, which is leading in the industry [1] - Cipher, a well-known North American mining company, has ordered 6,600 units of the Avalon A1566, with the first batch expected to be delivered in Q4 2024 [1] Mining Operations - As of May 16, 2024, the company has 11 active mining projects globally, with a total installed computing power of 4.0 Exa hash/s and 3.0 Exa hash/s activated [1] - The activated computing power increased by 58% compared to the end of Q4 2023, mainly due to the reactivation of some machines in Kazakhstan [1] - The company plans to hold most of the digital currencies obtained from mining for the long term, only selling a small portion to cover operational costs [1] Business Outlook - 嘉楠科技 maintains its performance guidance for Q2 2024, projecting total revenue of approximately $70 million [1] - The company also anticipates total revenue of around $70 million for Q3 2024, reflecting its current and preliminary views on market and operational conditions [1]

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SINGAPORE, June 6, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has signed a large purchase agreement (the "Agreement") with one of the Company's long-term partners, Cipher Mining Technologies Inc. (NASDAQ: CIFR) ("Cipher").According to the Agreement, Cipher Mining has acquired 6,600 units of Canaan's latest product, the Avalon Miner A1566, which features advanced computing power and power efficie ...