Cango Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $688.1M | $110.2M | $1.70B | $287.1M | $615.4M | $314.5M | $206.9M | $158.7M |
| Cost of Revenue | $659.9M | $75.1M | $212.9M | $265.3M | $464.2M | $168.3M | $77.5M | $62.5M |
| Gross Profit | $28.1M | $35.1M | $1.49B | $21.8M | $151.2M | $146.3M | $129.4M | $96.2M |
| Gross Margin | 4.1% | 31.9% | 87.5% | 7.6% | 24.6% | 46.5% | 62.6% | 60.6% |
| Operating Expenses | ||||||||
| Research & Development | — | $749.0K | $4.2M | $6.7M | $11.0M | $9.6M | $8.2M | $6.8M |
| SG&A Expense | — | $15.8M | $7.0M | $43.4M | $43.3M | $40.7M | $34.0M | $22.0M |
| Operating Income | $-437.1M | $-5.1M | $-7.0M | $-137.3M | $-3.6M | $48.8M | $46.4M | $40.2M |
| Operating Margin | -63.5% | -4.6% | -0.4% | -47.8% | -0.6% | 15.5% | 22.5% | 25.4% |
| Interest Expense | — | — | $577.4K | $2.4M | $2.3M | $422.8K | $1.9M | $2.8M |
| Pretax Income | $-451.9M | $4.8M | $2.9M | $-126.8M | $1.9M | $573.7M | $70.1M | $57.6M |
| Income Tax Expense | $842.0K | $181.1K | $13.2M | $34.3M | $3.3M | $56.7M | $11.9M | $13.0M |
| Net Income | $-622.0M | $41.7M | $-5.5M | $-161.1M | $-1.3M | $516.4M | $56.2M | $44.0M |
| Net Margin | -90.4% | 37.8% | -0.3% | -56.1% | -0.2% | 164.2% | 27.1% | 27.7% |
| EPS (Basic) | $-1.60 | $0.02 | $0.01 | — | — | — | — | — |
| EPS (Diluted) | $-1.60 | $0.02 | $0.01 | — | — | — | — | — |
| Shares Outstanding (Basic) | 283.3M | 208.2M | 243.0M | 274.1M | 289.9M | — | — | 223.5M |
| Shares Outstanding (Diluted) | 283.3M | 233.0M | 253.9M | 274.1M | 289.9M | — | — | 223.5M |
| Dividends Per Share | — | — | — | — | — | — | — | — |