CAN - Canaan reports Q3 results; issues Q4 guidance

Canaan (NASDAQ:CAN): Q3 GAAP EPADS of $0.41. Revenue of $204.5M (+708.2% Y/Y) Press Release As of September 30, 2021, the Company had cash and cash equivalents of $263.6M, up 334.0% compared to RMB391.3 million as of December 31, 2020. Total computing power sold was 6.7M Thash/s, up 128.4% from 2.9M Thash/s in the same period of 2020 and up 12.9% from 5.9M Thash/s in the second quarter of 2021, setting a new record. For the fourth quarter of 2021, the Company expects total revenues to have a sequential increase of 35% to 50%. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change.

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Canaan reports Q3 results; issues Q4 guidance