CANG on NYSE
Cango Inc.
Price unavailable
Last updated Oct 16, 2026.
Overview
Compare with IREN, Blucora or Riot Platforms, Inc., or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-63.5%Operating margin2
-90.4%Net margin2
665.3%Revenue growth, 20252
-156.6%Return on equity2
1.40×Debt to equity2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Crypto Asset Mining brought in 99% of the revenue Cango Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Crypto Asset Mining | $89.9M | $675.5M |
| International Automobile Trading Income | $9.8M |
Business segments
Bitcoin Mining Business brought in 99% of the revenue Cango Inc. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Bitcoin Mining Business | $89.9M | $678.2M |
| International Automobile Trading Business | $9.8M |
Regions
V-G brought in 98% of the revenue Cango Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2025 |
|---|---|
| V-G | $675.5M |
| Other Countries | $12.6M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue96¢$659.9M
- Other costs4¢$27.3M
- Income tax0¢$842.0K
Out of $688.1M in revenue.2 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenues | $688.1M | $89.9M | |
| Cost of revenue (exclusive of depreciation shown below) | $543.3M | $63.5M | |
| Cost of revenue (depreciation) | $116.6M | $11.5M | |
| General and administrative | $15.8M | $7.0M | |
| Provision for credit losses | $1.7M | $711.2K | |
| Impairment loss from mining machines | $338.3M | ||
| Gain from changes in fair value of crypto currencies | -$115.3K | ||
| Loss from changes in fair value of receivable for Bitcoin collateral | $96.5M | $3.4M | |
| Total operating costs and expenses | $1.1B | $95.0M | $7.0M |
| Operating loss from continuing operations | -$437.1M | -$5.1M | -$7.0M |
| Interest income | $2.0M | $9.5M | $9.3M |
| Net loss on equity securities | -$6.5K | ||
| Foreign exchange loss, net | -$225.4K | -$125 | -$26.3K |
| Other income | $4.1M | $511.3K | $726.9K |
| Other expenses | -$743.4K | ||
| Net income (loss) before income taxes from continuing operations | -$451.9M | $4.8M | $2.9M |
| Income tax expense | -$842.0K | ||
| Net income (loss) from continuing operations, net of tax | -$452.8M | $4.8M | $2.9M |
| Income (loss) from discontinued operations | -$129.8M | $37.1M | $4.9M |
| Income tax expenses | -$39.3M | -$183.7K | -$13.3M |
| Net (loss) income from discontinued operations | -$169.2M | $36.9M | -$8.4M |
| Net (loss) income | -$622.0M | $41.7M | -$5.5M |
| Continuing operations (in dollars per share) | -$2 | $0 | $0 |
| Discontinued operations (in dollars per share) | -$1 | $0 | -$0 |
| Continuing operations (in dollars per share) | -$2 | $0 | $0 |
| Discontinued operations (in dollars per share) | -$1 | $0 | -$0 |
| Basic (in shares) | 283.3M shares | 208.2M shares | 243.0M shares |
| Diluted (in shares) | 283.3M shares | 233.0M shares | 253.9M shares |
| Release accumulated other comprehensive loss | $44.3M | ||
| Foreign currency translation adjustment | $5.3M | -$10.7M | -$11.6M |
| Total comprehensive (loss) income, net of tax | -$572.4M | $30.9M | -$17.1M |
No quarterly figures reported.
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $41.2M | $90.4M | $102.3M |
| Crypto currencies | $42.5K | ||
| Short-term investments, net | $40.1M | ||
| Prepayments and other current assets, net | $6.8M | $27.0M | |
| Receivable for Bitcoin collateral, net | $84.5M | ||
| Other current assets, net - related party | $74.3M | ||
| Current assets of discontinued operations | $230.1M | ||
| Total current assets | $125.1M | $473.7M | |
| Mining machines, net | $248.7M | $242.8M | |
| Property, plant and equipment, net | $18.8M | $65.5K | |
| Intangible assets, net | $292.8K | ||
| Operating lease right-of-use assets, net | $2.1M | $184.4K | |
| Receivable for Bitcoin collateral, net - non-current - related party | $663.0M | ||
| Non-current assets of discontinued operations | $56.4M | ||
| Total non-current assets | $1.0B | $344.0M | |
| TOTAL ASSETS | $1.1B | $817.8M | |
| Short-term debts | $17.1M | ||
| Income tax payable | $88.8M | $48.6M | |
| Short-term operating lease liabilities | $574.0K | $180.2K | |
| Current liabilities of discontinued operations | $20.5M | ||
| Total current liabilities | $176.7M | $257.4M | |
| Long-term debts - related party | $557.6M | ||
| Deferred tax liability | $1 | $1 | |
| Long-term operating lease liabilities | $1.7M | ||
| Non-current liabilities of discontinued operations | $6.5M | ||
| Total non-current liabilities | $559.2M | $6.5M | |
| Total liabilities | $735.9M | $263.9M | |
| Treasury shares | -$103.4M | -$111.6M | |
| Additional paid-in capital | $1.1B | $728.6M | |
| Accumulated other comprehensive loss | -$49.6M | ||
| Accumulated deficit | -$635.5M | -$13.6M | |
| Total shareholders' equity | $397.0M | $553.9M | $532.8M |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $1.1B | $817.8M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net (loss) income | -$622.0M | $41.7M | -$5.5M |
| Less: (Loss) income from discontinued operations | -$169.2M | $36.9M | -$8.4M |
| Net income (loss) from continuing operations | -$452.8M | $4.8M | $2.9M |
| Bitcoin mining income | -$675.5M | -$89.9M | |
| Energy and hosting costs paid by crypto currencies | $478.1M | $17.1M | |
| Loss from changes in fair value of Bitcoin collateral | $96.5M | $3.4M | |
| Gain from changes in fair value of crypto currencies | -$115.3K | ||
| Depreciation and amortization | $117.0M | $11.8M | $109.0K |
| Share-based compensation expense | $4.9M | $1.4M | $3.5M |
| Impairment loss from mining machines | $338.3M | ||
| Provision for credit losses | $1.7M | $711.2K | |
| Net investment loss | $6.5K | ||
| Foreign exchange loss, net | $225.4K | $125 | $26.3K |
| Loss on disposal of property and equipment | -$480.9K | ||
| Accounts receivable | -$1.3M | ||
| Short-term and long-term operating lease liabilities | -$193.4K | -$309.1K | -$107.5K |
| Prepayments, other current assets, and other non-current assets | -$1.8M | -$71.8M | $563.3K |
| Accrued expenses, other current liabilities, and other non-current liabilities | $49.0K | $43.1M | $243.0K |
| Net cash provided by (used in) continuing operating activities | -$95.4M | -$79.7M | $7.3M |
| Net cash provided by (used in) discontinued operating activities | -$14.4M | $38.9M | $139.0M |
| Net cash provided by (used in) operating activities | -$109.8M | -$40.8M | $146.3M |
| Purchase of held-to-maturity investment | -$319.0M | ||
| Maturities of held-to-maturity investment | $354.0M | ||
| Proceeds from redemption of other short-term investments, net | $40.1M | $290.0M | |
| Purchases of property and equipment and intangible assets | -$9.4M | -$65.1K | |
| Purchase of other short-term investments | -$177.1M | ||
| Purchases of mining machines | -$105.4M | -$128.0M | |
| Proceeds from sale of discontinued operations, net of cash disposed | $209.6M | ||
| Payment of other long-term investment | -$2.0M | ||
| Net cash provided by (used in) continuing investing activities | $132.9M | -$93.1M | $112.9M |
| Net cash provided by (used in) discontinued investing activities | -$54.2M | -$85.6M | $190.1M |
| Net cash provided by (used in) investing activities | $78.7M | -$178.7M | $303.0M |
| Payment to repurchase treasury shares | -$1.2M | -$12.6M | -$34.2M |
| Proceeds from borrowings - related party | $26.2M | ||
| Proceeds from exercise of share options | $495.9K | $360.6K | $563.1K |
| Repayment of borrowings | -$174.3M | ||
| Net cash used in continuing financing activities | -$148.9M | -$12.3M | -$33.6M |
| Net cash used in discontinued financing activities | -$5.4M | -$136.6M | |
| Net cash used in financing activities | -$148.9M | -$17.7M | -$170.2M |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | $3.8M | -$8.4M | -$1.8M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -$176.3M | -$245.6M | $277.2M |
| Cash paid for income taxes | $367.7K | $1.1M | |
| Cash paid for interest | $16.5M | $2.4M | |
| Ordinary shares and warrants issued in connection with purchase of mining machines | $411.4M | ||
| Liabilities assumed in connection with purchase of mining machines | $11.6M | $126.3M | |
| Retirement of treasury shares | $9.7M | ||
| 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 | $2.4M | $394.6K | $73.1K |
| Operating lease right-of-use asset released in exchange for operating lease liability | $119.3K | $37.1K | $3.3M |
Recent filings
- Sep 3, 20266-K
- Aug 31, 20266-K
- Jul 21, 20266-K
- Jul 10, 20266-K
- Jun 24, 20266-K
- Jun 2, 20266-K
- May 22, 20266-K
- Apr 22, 20266-K
- Apr 10, 202620-F
- Apr 2, 20266-K
- Apr 1, 20266-K
- Mar 26, 20263 OWNERSHIP DOCUMENT
- Mar 18, 2026SCHEDULE 13D
- Mar 18, 20263 OWNERSHIP DOCUMENT
- Mar 18, 20263 OWNERSHIP DOCUMENT
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARCango Inc. filings on SEC EDGAR
- 2SEC EDGARCango Inc. 10-K for fiscal 2025
- 3SEC EDGARCango Inc. filings on SEC EDGAR
- 4SEC EDGARCango Inc. 10-K for fiscal 2018
- 5SEC EDGARCango Inc. 10-K for fiscal 2019
- 6SEC EDGARCango Inc. 10-K for fiscal 2020
- 7SEC EDGARCango Inc. 10-K for fiscal 2021
- 8SEC EDGARCango Inc. 10-K for fiscal 2022
- 9SEC EDGARCango Inc. 10-K for fiscal 2023
- 10SEC EDGARCango Inc. 10-K for fiscal 2023