Canaan Missed Consensus Estimates

Canaan (CAN) reported a loss of $0.27 per share on revenue of $82.78 million for the first quarter ended March 2025. The consensus estimate was a loss of $0.15 per share on revenue of $89.12 million. The company missed consensus estimates by 80.00% while revenue grew 135.89% on a year-over-year basis.

The company said it expects second quarter revenue of approximately $100.0 million. The current consensus revenue estimate is $134.65 million for the quarter ending June 30, 2025. The company also said it is withdrawing its previous guidance for 2025 revenue of $900.0 million to $1.10 billion.

Established in 2013, Canaan Inc. provides high-performance computing solutions to efficiently solve complex problems. In 2016, Canaan successfully initiated the production of its first 16nm chip and passed the test to receive China's national high-tech enterprise certification.