Canaan Inc.
Balance Sheet
| Line Item | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & Equivalents | $80.8M | $96.5M | $96.2M | — | $421.2M | $60.0M | $74.2M |
| Accounts Receivable | $19.3M | $1.5M | $3.0M | — | $58.0K | $1.1M | $413.0K |
| Inventory | $180.8M | $94.6M | $142.3M | $211.6M | $127.5M | $34.6M | $28.2M |
| Total Current Assets | $433.3M | $334.0M | $363.7M | $555.7M | $827.5M | $154.4M | $135.1M |
| Property, Plant & Equipment | $44.0M | $40.2M | $29.5M | $85.4M | $29.1M | $1.9M | $3.2M |
| Goodwill | — | — | — | — | — | — | — |
| Intangible Assets (Excl. Goodwill) | $689.0K | $901.0K | — | — | — | — | — |
| Total Assets | $602.9M | $463.0M | $493.3M | $685.0M | $883.8M | $158.8M | $142.4M |
| Liabilities | |||||||
| Accounts Payable | $25.6M | $14.0M | $6.2M | $16.7M | $22.5M | $5.7M | $14.2M |
| Total Current Liabilities | $131.1M | $178.6M | $135.2M | $75.3M | $327.2M | $90.8M | $41.0M |
| Long-Term Debt | $23.7M | $7.3M | — | — | — | — | — |
| Total Liabilities | $165.5M | $196.8M | $145.1M | $77.3M | $341.1M | $92.5M | $42.9M |
| Stockholders' Equity | |||||||
| Retained Earnings | $-660.8M | $-450.5M | $-219.6M | $194.5M | $126.1M | $-183.2M | $-140.9M |
| Total Stockholders' Equity | $437.4M | $266.3M | $348.2M | $607.7M | $542.5M | $66.3M | $99.5M |
This is one of the keys to successful investing: focus on the companies, not on the stocks.