CAN - Canaan GAAP EPADS of $0.53 revenue of $246.7M; sees Q3 net revenue above estimates
- Canaan press release ( NASDAQ: CAN ): Q2 GAAP EPADS of $0.53.
- Non-GAAP adjusted net income was $102.7M, representing an increase of 26.6% from the first quarter of 2022 and an increase of 115.0% from the same period of 2021.
- Revenue of $246.7M (+52.8% Y/Y).
- Total computing power sold was 5.5M Thash/s, representing an increase of 27.5% from 4.3M Thash/s in the first quarter of 2022 and a decrease of 7.7% from 5.9M Thash/s in the same period of 2021.
- As of June 30, 2022, the company held cryptocurrency assets that comprised 346.84 Bitcoins, with a carrying value of $7.7M.
- For the third quarter of 2022, the company expects total net revenues to be in the range of $134.4M to $164.2M, representing a decrease of 17% to 32% from the third quarter of 2021 vs. consensus of $171.34M.
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Canaan GAAP EPADS of $0.53, revenue of $246.7M; sees Q3 net revenue above estimates