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Side-by-side financial comparison of Canaan Inc. (CAN) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.
Canaan Inc. is the larger business by last-quarter revenue ($20.8M vs $12.6M, roughly 1.7× Spero Therapeutics, Inc.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -18.4%, a 269.1% 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.
CAN vs SPRO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.8M | $12.6M |
| Net Profit | $-3.8M | $31.5M |
| Gross Margin | 99.9% | — |
| Operating Margin | -15.9% | — |
| Net Margin | -18.4% | 250.7% |
| Revenue YoY | — | 24080.8% |
| Net Profit YoY | — | 250.9% |
| EPS (diluted) | $-0.05 | $0.56 |
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 | $12.6M | ||
| Q3 25 | $13.8M | $0 | ||
| Q2 25 | $11.4M | $0 | ||
| Q1 25 | — | $12.0K | ||
| Q4 24 | — | $52.0K | ||
| Q3 24 | $10.2M | $65.0K | ||
| Q2 24 | $4.8M | $114.0K | ||
| Q1 24 | — | $140.0K |
| Q4 25 | $-3.8M | $31.5M | ||
| Q3 25 | $-1.5M | $-7.4M | ||
| Q2 25 | $-11.9M | $-1.7M | ||
| Q1 25 | — | $-13.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-10.4M | $-17.1M | ||
| Q2 24 | $-5.4M | $-17.9M | ||
| Q1 24 | — | $-12.7M |
| Q4 25 | 99.9% | — | ||
| Q3 25 | 99.9% | — | ||
| Q2 25 | 99.9% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 99.9% | — | ||
| Q2 24 | 99.8% | — | ||
| Q1 24 | — | — |
| Q4 25 | -15.9% | — | ||
| Q3 25 | -27.0% | — | ||
| Q2 25 | -45.5% | — | ||
| Q1 25 | — | -122758.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | -77.2% | -28604.6% | ||
| Q2 24 | -193.9% | -16720.2% | ||
| Q1 24 | — | -9987.1% |
| Q4 25 | -18.4% | 250.7% | ||
| Q3 25 | -11.0% | — | ||
| Q2 25 | -104.4% | — | ||
| Q1 25 | — | -115550.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | -102.7% | -26380.0% | ||
| Q2 24 | -112.3% | -15668.4% | ||
| Q1 24 | — | -9049.3% |
| Q4 25 | $-0.05 | $0.56 | ||
| Q3 25 | $-0.02 | $-0.13 | ||
| Q2 25 | $-0.25 | $-0.03 | ||
| Q1 25 | — | $-0.25 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-0.32 | ||
| Q2 24 | — | $-0.33 | ||
| Q1 24 | — | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $40.3M |
| Total DebtLower is stronger | $6.2M | — |
| Stockholders' EquityBook value | $52.4M | $59.0M |
| Total Assets | $92.5M | $68.9M |
| Debt / EquityLower = less leverage | 0.12× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $40.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | — | $31.2M | ||
| Q1 25 | — | $48.9M | ||
| Q4 24 | — | $52.9M | ||
| Q3 24 | — | $76.3M | ||
| Q2 24 | — | $63.5M | ||
| Q1 24 | — | $82.3M |
| Q4 25 | $6.2M | — | ||
| Q3 25 | $6.2M | — | ||
| Q2 25 | $6.2M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $52.4M | $59.0M | ||
| Q3 25 | $44.7M | $26.5M | ||
| Q2 25 | $33.8M | $32.8M | ||
| Q1 25 | — | $33.8M | ||
| Q4 24 | — | $46.1M | ||
| Q3 24 | $43.6M | $65.5M | ||
| Q2 24 | $56.8M | $80.5M | ||
| Q1 24 | — | $96.2M |
| Q4 25 | $92.5M | $68.9M | ||
| Q3 25 | $81.7M | $54.2M | ||
| Q2 25 | $78.0M | $62.1M | ||
| Q1 25 | — | $77.7M | ||
| Q4 24 | — | $110.5M | ||
| Q3 24 | $69.3M | $135.2M | ||
| Q2 24 | $73.7M | $149.9M | ||
| Q1 24 | — | $167.7M |
| Q4 25 | 0.12× | — | ||
| Q3 25 | 0.14× | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | — | $-8.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.4M | ||
| Q3 25 | — | $17.4M | ||
| Q2 25 | — | $-17.7M | ||
| Q1 25 | — | $-4.0M | ||
| Q4 24 | — | $-23.4M | ||
| Q3 24 | — | $12.8M | ||
| Q2 24 | — | $-18.7M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | — | -0.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
