← Cango Inc.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) from continuing operations | — | — | — | — | — | — | $2.9m | $4.8m | ($452.8m) | — | |
| Depreciation and amortization | $3.0m | $7.2m | $10.5m | $9.5m | $8.5m | $6.7m | $7.9m | $87.2m | $117.0m | $117.0m | |
| Share-based compensation expense | — | $33.4m | $82.3m | $78.8m | $87.6m | $158.5m | $38.5m | $17.1m | $4.9m | $4.9m | |
| Impairment loss from mining machines | — | — | — | — | — | — | — | — | $338.3m | — | |
| Accounts receivable | ($85.1m) | ($919k) | ($56.1m) | $7.0m | ($78.0m) | ($43.3m) | $202.0m | $53.8m | ($1.3m) | ($1.3m) | |
| Accrued expenses, other current liabilities, and other non-current liabilities | — | — | — | — | — | $8.0m | ($685.5m) | $378.7m | $49k | — | |
| Prepayments, other current assets, and other non-current assets | — | — | — | — | — | — | $563k | ($71.8m) | ($1.8m) | — | |
| Net cash provided by (used in) continuing operating activities | $589.3m |
$184.8m
-68.64%
|
$422.9m
+128.86%
|
($621.6m)
-246.99%
|
($404.4m)
+34.94%
|
($567.4m)
-40.31%
|
$7.3m
+101.28%
|
($79.7m)
-1193.76%
|
($95.4m)
-19.75%
|
($95.4m)
0.00%
|
|
| Net cash provided by (used in) discontinued operating activities | $589.3m |
$184.8m
-68.64%
|
$422.9m
+128.86%
|
($621.6m)
-246.99%
|
($404.4m)
+34.94%
|
($567.4m)
-40.31%
|
$139.0m
+124.50%
|
$38.9m
-72.05%
|
($14.4m)
-137.09%
|
($95.4m)
-562.30%
|
|
| Net cash provided by (used in) operating activities | $589.3m |
$184.8m
-68.64%
|
$422.9m
+128.86%
|
($621.6m)
-246.99%
|
($404.4m)
+34.94%
|
($567.4m)
-40.31%
|
$1.0b
+280.83%
|
($310.2m)
-130.23%
|
($109.8m)
+64.59%
|
($95.4m)
+13.12%
|
|
| Loss on disposal of property and equipment | $33k | $32k | $46k | $80k | $78k | $228k | ($373k) | $192k | ($481k) | — | |
| Purchases of property and equipment and intangible assets | ($9.6m) | ($14.4m) | ($43.0m) | ($5.4m) | ($18.9m) | ($4.6m) | ($1.8m) | ($582k) | ($9.4m) | ($114.8m) | |
| Proceeds from redemption of other short-term investments, net | $1.5b | $2.6b | $7.3b | $1.0b | $2.8b | $212.6m | $567.2m | $9.0m | $40.1m | — | |
| Purchase of other short-term investments | ($1.4b) | ($2.8b) | ($7.6b) | ($1.1b) | — | — | ($177.1m) | — | — | — | |
| Net cash provided by (used in) continuing investing activities | — | — | — | — | — | — | $112.9m | ($93.1m) | $132.9m | — | |
| Net cash provided by (used in) discontinued investing activities | — | — | — | — | — | — | $190.1m | ($85.6m) | ($54.2m) | — | |
| Net cash provided by (used in) investing activities | ($162.9m) | ($1.6b) | ($1.2b) | ($493.6m) | $2.7b | $2.0b | $2.1b | ($1.2b) | $78.7m | $132.9m | |
| Proceeds from borrowings - related party | — | — | — | — | — | — | — | — | $26.2m | — | |
| Proceeds from borrowings- related party | $400.3m | $616.2m | $2.7b | $3.4b | $1.5b | $684.8m | $228.1m | — | $26.2m | — | |
| Repayment of borrowings | ($414.9m) | ($73.1m) | ($1.7b) | ($3.4b) | ($2.1b) | ($1.7b) | ($1.2b) | ($39.1m) | ($174.3m) | — | |
| Debt received in the form of crypto currencies | — | — | — | — | — | — | — | $17.1m | $514.3m | — | |
| Net cash used in continuing financing activities | — | — | — | — | — | — | ($33.6m) |
($12.3m)
+63.47%
|
($148.9m)
-1113.22%
|
— | |
| Net cash used in discontinued financing activities | — | — | — | — | — | — | ($136.6m) |
($5.4m)
+96.03%
|
— | — | |
| Net cash used in financing activities | $685.7m |
$4.1b
+496.64%
|
$730.5m
-82.14%
|
($380.8m)
-152.13%
|
($1.9b)
-411.11%
|
($3.0b)
-53.62%
|
($1.2b)
+60.08%
|
($127.4m)
+89.33%
|
($148.9m)
-16.91%
|
($148.9m)
0.00%
|
|
| Net increase (decrease) in cash, cash equivalents and restricted cash | $1.1b | $2.7b | ($33.4m) | ($1.5b) | $295.4m | ($1.3b) | $2.0b | ($1.7b) | ($176.3m) | — | |
| Cash, cash equivalents and restricted cash at beginning of the year | — | — | — | — | — | — | $463.2m | $217.5m | $41.2m | — | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | ($25.4m) | $110.5m | $11.5m | ($36.1m) | ($15.0m) | $270.3m | $48.9m | ($13.0m) | $3.8m | $3.8m | |
| Less: Cash, cash equivalents and restricted cash of discontinued operations at end of the year | — | — | — | — | — | — | $360.9m | $127.1m | — | — | |
| Cash, cash equivalents and restricted cash of continuing operations at the end of the year | $1.1b | $3.9b | $3.8b | $2.3b | $2.6b | $1.3b | $3.3b | $1.6b | $41.2m | — | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Net (loss) income | $349.1m | $306.9m | $404.9m | $3.4b | ($8.5m) | ($1.1b) | ($37.9m) | $299.8m | ($622.0m) | — | |
| Less: (Loss) income from discontinued operations | — | — | — | — | — | — | ($8.4m) | $36.9m | ($169.2m) | — | |
| Bitcoin mining income | — | — | — | — | — | — | — | ($653.0m) | ($675.5m) | — | |
| Energy and hosting costs paid by crypto currencies | — | — | — | — | — | — | — | $17.1m | $478.1m | — | |
| Loss from changes in fair value of Bitcoin collateral | — | — | — | — | — | — | — | $25.2m | $96.5m | — | |
| Gain from changes in fair value of crypto currencies | — | — | — | — | — | — | — | — | ($115k) | — | |
| Provision for credit losses | $156k | $20.0m | $56.5m | $109.6m | $203.4m | $319.4m | ($136.5m) | ($269.9m) | $1.7m | — | |
| Net investment loss | — | — | ($41.6m) | ($3.3b) | $5.3m | $1.2m | $49k | ($8.8m) | — | — | |
| Foreign exchange loss, net | $25.4m | ($1.4m) | ($5.1m) | $8.8m | ($1.4m) | ($5.9m) | ($1.1m) | ($1.7m) | $225k | — | |
| Short-term and long-term operating lease liabilities | — | — | — | $0 | $0 | $86.4m | ($36.6m) | ($7.4m) | ($193k) | — | |
| Purchase of held-to-maturity investment | — | — | ($210.5m) | ($1.1b) | ($2.3b) | ($3.9b) | ($4.8b) | ($5.7b) | — | — | |
| Maturities of held-to-maturity investment | — | — | — | $658.2m | $1.2b | $4.4b | $5.5b | $5.1b | — | — | |
| Purchases of mining machines | — | — | — | — | — | — | — | ($928.2m) | ($105.4m) | — | |
| Proceeds from sale of discontinued operations, net of cash disposed | — | — | — | — | — | — | — | — | $209.6m | — | |
| Payment of other long-term investment | — | — | — | — | — | — | — | — | ($2.0m) | — | |
| Payment to repurchase treasury shares | — | — | ($20.6m) | ($49.2m) | ($444.4m) | ($105.8m) | ($246.9m) | ($90.9m) | ($1.2m) | — | |
| Proceeds from exercise of share options | — | — | $0 | $6.7m | $8.2m | $7.0m | $2.7m | $2.6m | $496k | — | |
| Cash and cash equivalents | $803.3m | $2.9b | $2.0b | $1.4b | $1.4b | $378.9m | $1.0b | $1.3b | $41.2m | $217.5m | |
| Cash paid for income taxes | $116.6m | $130.5m | $78.2m | $101.9m | $209.0m | $33.8m | $7.8m | $2.6m | — | — | |
| Cash paid for interest | $13.2m | $3.8m | $154.6m | $140.0m | $134.2m | $83.1m | $17.1m | — | $16.5m | — | |
| Ordinary shares and warrants issued in connection with purchase of mining machines | — | — | — | — | — | — | — | — | $411.4m | — | |
| Liabilities assumed in connection with purchase of mining machines | — | — | — | — | — | — | — | $922.0m | $11.6m | — | |
| Retirement of treasury shares | — | — | — | — | — | — | — | $69.9m | — | — | |
| Purchase of mining site with crypto currencies | — | — | — | — | — | — | — | — | $10.5m | — | |
| Purchase of mining machines with crypto currencies | — | — | — | — | — | — | — | — | $25.7m | — | |
| Operating lease right-of-use asset obtained in exchange for operating lease liability | — | — | — | — | — | $5.1m | $513k | $2.8m | $2.4m | — | |
| Operating lease right-of-use asset released in exchange for operating lease liability | — | — | — | — | — | $2.0m | $23.3m | $267k | $119k | — |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.