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Side-by-side financial comparison of Canaan Inc. (CAN) and Hyperscale Data, Inc. (GPUS). Click either name above to swap in a different company.
Hyperscale Data, Inc. is the larger business by last-quarter revenue ($26.9M vs $20.8M, roughly 1.3× Canaan Inc.). Canaan Inc. runs the higher net margin — -18.4% vs -112.0%, a 93.5% 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.
Hyperscale Data, Inc. provides GPU-accelerated computing infrastructure and cloud solutions tailored for AI development, big data processing, and high-performance computing workloads. It primarily serves AI startups, large technology firms, and cloud service providers across North America and the Asia-Pacific region, delivering scalable, high-efficiency computing resources to support complex data processing needs.
CAN vs GPUS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.8M | $26.9M |
| Net Profit | $-3.8M | $-30.1M |
| Gross Margin | 99.9% | 14.5% |
| Operating Margin | -15.9% | -117.8% |
| Net Margin | -18.4% | -112.0% |
| Revenue YoY | — | 38.4% |
| Net Profit YoY | — | -6670.3% |
| EPS (diluted) | $-0.05 | — |
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 | $26.9M | ||
| Q3 25 | $13.8M | $24.3M | ||
| Q2 25 | $11.4M | $25.9M | ||
| Q1 25 | — | $25.0M | ||
| Q4 24 | — | $19.4M | ||
| Q3 24 | $10.2M | $31.1M | ||
| Q2 24 | $4.8M | $17.8M | ||
| Q1 24 | — | $38.4M |
| Q4 25 | $-3.8M | $-30.1M | ||
| Q3 25 | $-1.5M | $-13.0M | ||
| Q2 25 | $-11.9M | $-19.1M | ||
| Q1 25 | — | $-4.2M | ||
| Q4 24 | — | $-445.0K | ||
| Q3 24 | $-10.4M | $-25.5M | ||
| Q2 24 | $-5.4M | $-33.9M | ||
| Q1 24 | — | $3.7M |
| Q4 25 | 99.9% | 14.5% | ||
| Q3 25 | 99.9% | 25.8% | ||
| Q2 25 | 99.9% | 23.7% | ||
| Q1 25 | — | 21.1% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 99.9% | 27.5% | ||
| Q2 24 | 99.8% | -21.3% | ||
| Q1 24 | — | 47.4% |
| Q4 25 | -15.9% | -117.8% | ||
| Q3 25 | -27.0% | -57.8% | ||
| Q2 25 | -45.5% | -39.2% | ||
| Q1 25 | — | -25.5% | ||
| Q4 24 | — | -46.8% | ||
| Q3 24 | -77.2% | -79.2% | ||
| Q2 24 | -193.9% | -151.4% | ||
| Q1 24 | — | 9.5% |
| Q4 25 | -18.4% | -112.0% | ||
| Q3 25 | -11.0% | -53.5% | ||
| Q2 25 | -104.4% | -73.7% | ||
| Q1 25 | — | -16.8% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | -102.7% | -82.3% | ||
| Q2 24 | -112.3% | -190.7% | ||
| Q1 24 | — | 9.7% |
| Q4 25 | $-0.05 | — | ||
| Q3 25 | $-0.02 | $-0.39 | ||
| Q2 25 | $-0.25 | $-2.66 | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-8.78 | ||
| Q3 24 | — | $-24.82 | ||
| Q2 24 | — | $-37.81 | ||
| Q1 24 | — | $3.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $13.1M |
| Total DebtLower is stronger | $6.2M | $83.1M |
| Stockholders' EquityBook value | $52.4M | $119.8M |
| Total Assets | $92.5M | $313.7M |
| Debt / EquityLower = less leverage | 0.12× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $13.1M | ||
| Q3 25 | — | $24.8M | ||
| Q2 25 | — | $5.9M | ||
| Q1 25 | — | $4.2M | ||
| Q4 24 | — | $4.5M | ||
| Q3 24 | — | $7.9M | ||
| Q2 24 | — | $9.6M | ||
| Q1 24 | — | $18.9M |
| Q4 25 | $6.2M | $83.1M | ||
| Q3 25 | $6.2M | $80.0M | ||
| Q2 25 | $6.2M | $88.5M | ||
| Q1 25 | — | $92.8M | ||
| Q4 24 | — | $96.7M | ||
| Q3 24 | — | $104.8M | ||
| Q2 24 | — | $106.8M | ||
| Q1 24 | — | $30.0M |
| Q4 25 | $52.4M | $119.8M | ||
| Q3 25 | $44.7M | $55.9M | ||
| Q2 25 | $33.8M | $5.5M | ||
| Q1 25 | — | $6.3M | ||
| Q4 24 | — | $8.6M | ||
| Q3 24 | $43.6M | $2.7M | ||
| Q2 24 | $56.8M | $26.7M | ||
| Q1 24 | — | $59.0M |
| Q4 25 | $92.5M | $313.7M | ||
| Q3 25 | $81.7M | $242.4M | ||
| Q2 25 | $78.0M | $213.5M | ||
| Q1 25 | — | $218.5M | ||
| Q4 24 | — | $220.8M | ||
| Q3 24 | $69.3M | $231.5M | ||
| Q2 24 | $73.7M | $270.8M | ||
| Q1 24 | — | $299.8M |
| Q4 25 | 0.12× | 0.69× | ||
| Q3 25 | 0.14× | 1.43× | ||
| Q2 25 | 0.18× | 16.06× | ||
| Q1 25 | — | 14.71× | ||
| Q4 24 | — | 11.19× | ||
| Q3 24 | — | 38.41× | ||
| Q2 24 | — | 4.00× | ||
| Q1 24 | — | 0.51× |
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 | — | $-37.7M |
| Free Cash FlowOCF − Capex | — | $-56.2M |
| FCF MarginFCF / Revenue | — | -208.7% |
| Capex IntensityCapex / Revenue | — | 68.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-87.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-37.7M | ||
| Q3 25 | — | $-17.8M | ||
| Q2 25 | — | $-3.1M | ||
| Q1 25 | — | $-4.0M | ||
| Q4 24 | — | $-9.2M | ||
| Q3 24 | — | $3.7M | ||
| Q2 24 | — | $-3.7M | ||
| Q1 24 | — | $-10.2M |
| Q4 25 | — | $-56.2M | ||
| Q3 25 | — | $-20.6M | ||
| Q2 25 | — | $-3.5M | ||
| Q1 25 | — | $-6.8M | ||
| Q4 24 | — | $-9.3M | ||
| Q3 24 | — | $2.6M | ||
| Q2 24 | — | $-5.9M | ||
| Q1 24 | — | $-11.6M |
| Q4 25 | — | -208.7% | ||
| Q3 25 | — | -84.5% | ||
| Q2 25 | — | -13.5% | ||
| Q1 25 | — | -27.3% | ||
| Q4 24 | — | -47.6% | ||
| Q3 24 | — | 8.4% | ||
| Q2 24 | — | -33.4% | ||
| Q1 24 | — | -30.3% |
| Q4 25 | — | 68.6% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | — | 1.5% | ||
| Q1 25 | — | 11.5% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 3.6% | ||
| Q2 24 | — | 12.6% | ||
| Q1 24 | — | 3.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -2.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAN
Segment breakdown not available.
GPUS
| Transferred Over Time | $10.4M | 39% |
| Revenue From Mined Crypto Assets At Sentinum Owned And Operated Facilities | $5.8M | 21% |
| Hotel And Real Estate Operations | $4.8M | 18% |
| Other | $4.0M | 15% |
| Turn On Green | $2.0M | 7% |
