Canaan Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported revenue was USD 35.09 million compared to USD 55.23 million a year ago. Net loss was USD 39.39 million compared to USD 84.37 million a year ago.

Basic loss per share from continuing operations was USD 0.159 compared to USD 0.5055 a year ago. Diluted loss per share from continuing operations was USD 0.159 compared to USD 0.5055 a year ago.