CAN - Canaan GAAP EPADS of $0.41 in-line revenue of $213.9M in-line; issues Q2 revenue guidance

Canaan press release (NASDAQ:CAN): Q1 GAAP EPADS of $0.41 in-line. Revenue of $213.9M (+236.7% Y/Y) in-line. Total computing power sold was 4.3M Thash/s, representing an increase of 119.1% from 2.0M Thash/s in the same period of 2021. As of March 31, 2022, the Company held cryptocurrency assets that comprised 166.96 Bitcoins, with a carrying value of $7.1M. For the second quarter of 2022, the company expects total net revenues to be in the range of $252.4M to $283.9M vs. consensus of $276.08M, representing an increase of 48% to 67% from the second quarter of 2021.

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Canaan GAAP EPADS of $0.41 in-line, revenue of $213.9M in-line; issues Q2 revenue guidance