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Side-by-side financial comparison of Canaan Inc. (CAN) and FTC Solar, Inc. (FTCI). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $20.8M, roughly 1.6× Canaan Inc.). Canaan Inc. runs the higher net margin — -18.4% vs -110.7%, a 92.3% gap on every dollar of revenue.
Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a Singapore-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.
FTC Solar, Inc. is a leading global provider of advanced solar tracker systems, associated components, and supporting software for solar projects. It serves utility-scale, commercial, and industrial solar segments across key global markets, helping customers boost energy generation efficiency and lower overall project costs.
CAN vs FTCI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.8M | $32.9M |
| Net Profit | $-3.8M | $-36.4M |
| Gross Margin | 99.9% | 14.9% |
| Operating Margin | -15.9% | -17.2% |
| Net Margin | -18.4% | -110.7% |
| Revenue YoY | — | 148.9% |
| Net Profit YoY | — | -197.4% |
| EPS (diluted) | $-0.05 | $-2.31 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $20.8M | $32.9M | ||
| Q3 25 | $13.8M | $26.0M | ||
| Q2 25 | $11.4M | $20.0M | ||
| Q1 25 | — | $20.8M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | $10.2M | $10.1M | ||
| Q2 24 | $4.8M | $11.4M | ||
| Q1 24 | — | $12.6M |
| Q4 25 | $-3.8M | $-36.4M | ||
| Q3 25 | $-1.5M | $-23.9M | ||
| Q2 25 | $-11.9M | $-15.4M | ||
| Q1 25 | — | $-3.8M | ||
| Q4 24 | — | $-12.2M | ||
| Q3 24 | $-10.4M | $-15.4M | ||
| Q2 24 | $-5.4M | $-12.2M | ||
| Q1 24 | — | $-8.8M |
| Q4 25 | 99.9% | 14.9% | ||
| Q3 25 | 99.9% | 6.1% | ||
| Q2 25 | 99.9% | -19.6% | ||
| Q1 25 | — | -16.6% | ||
| Q4 24 | — | -29.1% | ||
| Q3 24 | 99.9% | -42.5% | ||
| Q2 24 | 99.8% | -20.5% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | -15.9% | -17.2% | ||
| Q3 25 | -27.0% | -29.6% | ||
| Q2 25 | -45.5% | -57.5% | ||
| Q1 25 | — | -50.8% | ||
| Q4 24 | — | -101.7% | ||
| Q3 24 | -77.2% | -147.8% | ||
| Q2 24 | -193.9% | -104.3% | ||
| Q1 24 | — | -99.3% |
| Q4 25 | -18.4% | -110.7% | ||
| Q3 25 | -11.0% | -92.0% | ||
| Q2 25 | -104.4% | -77.2% | ||
| Q1 25 | — | -18.4% | ||
| Q4 24 | — | -92.7% | ||
| Q3 24 | -102.7% | -151.5% | ||
| Q2 24 | -112.3% | -107.1% | ||
| Q1 24 | — | -69.7% |
| Q4 25 | $-0.05 | $-2.31 | ||
| Q3 25 | $-0.02 | $-1.61 | ||
| Q2 25 | $-0.25 | $-1.18 | ||
| Q1 25 | — | $-0.58 | ||
| Q4 24 | — | $-0.95 | ||
| Q3 24 | — | $-1.21 | ||
| Q2 24 | — | $-0.97 | ||
| Q1 24 | — | $-0.70 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $21.1M |
| Total DebtLower is stronger | $6.2M | $9.9M |
| Stockholders' EquityBook value | $52.4M | $-43.0M |
| Total Assets | $92.5M | $111.8M |
| Debt / EquityLower = less leverage | 0.12× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $21.1M | ||
| Q3 25 | — | $24.4M | ||
| Q2 25 | — | $3.5M | ||
| Q1 25 | — | $5.9M | ||
| Q4 24 | — | $11.2M | ||
| Q3 24 | — | $8.3M | ||
| Q2 24 | — | $10.8M | ||
| Q1 24 | — | $14.0M |
| Q4 25 | $6.2M | $9.9M | ||
| Q3 25 | $6.2M | $16.6M | ||
| Q2 25 | $6.2M | $10.9M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $9.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $52.4M | $-43.0M | ||
| Q3 25 | $44.7M | $-13.7M | ||
| Q2 25 | $33.8M | $9.0M | ||
| Q1 25 | — | $15.5M | ||
| Q4 24 | — | $19.0M | ||
| Q3 24 | $43.6M | $30.4M | ||
| Q2 24 | $56.8M | $44.2M | ||
| Q1 24 | — | $55.2M |
| Q4 25 | $92.5M | $111.8M | ||
| Q3 25 | $81.7M | $111.5M | ||
| Q2 25 | $78.0M | $83.0M | ||
| Q1 25 | — | $84.1M | ||
| Q4 24 | — | $89.9M | ||
| Q3 24 | $69.3M | $91.7M | ||
| Q2 24 | $73.7M | $100.3M | ||
| Q1 24 | — | $115.0M |
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.18× | 1.20× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-8.0M |
| Free Cash FlowOCF − Capex | — | $-8.4M |
| FCF MarginFCF / Revenue | — | -25.7% |
| Capex IntensityCapex / Revenue | — | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.0M | ||
| Q3 25 | — | $-14.6M | ||
| Q2 25 | — | $-2.3M | ||
| Q1 25 | — | $-8.5M | ||
| Q4 24 | — | $-16.7M | ||
| Q3 24 | — | $-2.4M | ||
| Q2 24 | — | $-3.8M | ||
| Q1 24 | — | $-11.9M |
| Q4 25 | — | $-8.4M | ||
| Q3 25 | — | $-15.1M | ||
| Q2 25 | — | $-2.5M | ||
| Q1 25 | — | $-8.6M | ||
| Q4 24 | — | $-17.0M | ||
| Q3 24 | — | $-2.6M | ||
| Q2 24 | — | $-4.5M | ||
| Q1 24 | — | $-12.3M |
| Q4 25 | — | -25.7% | ||
| Q3 25 | — | -57.9% | ||
| Q2 25 | — | -12.4% | ||
| Q1 25 | — | -41.2% | ||
| Q4 24 | — | -128.6% | ||
| Q3 24 | — | -25.6% | ||
| Q2 24 | — | -39.2% | ||
| Q1 24 | — | -97.6% |
| Q4 25 | — | 1.3% | ||
| Q3 25 | — | 1.7% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 2.2% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | — | 6.1% | ||
| Q1 24 | — | 3.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAN
Segment breakdown not available.
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
