Cango (NYSE:CANG) Announces Quarterly Earnings Results

Cango (NYSE:CANG) issued its quarterly earnings results on Monday. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($1.33), Zacks reports. The company had revenue of $179.45 million for the quarter, compared to analyst estimates of $1.24 billion. Cango had a negative net margin of 46.40% and a positive return on equity of 2.29%.

Here are the key takeaways from Cango’s conference call:

• Cango completed its pivot to Bitcoin mining, reporting full-year revenue of $688.1 million, producing ~6,595.6 BTC in 2025 and delivering a positive adjusted EBITDA of $24.5 million.
• Net loss of $622 million in 2025 was driven by sizable one-time transformation costs, large impairments on mining equipment and equity-settled items, and fair-value losses on Bitcoin and receivables.
• The company rapidly scaled to ~50 exahash/sec (~4–5% of the network) but faced very high mining costs (Q4 cash cost ≈ $84,552 per coin excl. depreciation; all-in ≈ $106,251), prompting plans to phase out inefficient rigs and temporarily reduce hash rate to improve energy efficiency.
• Management has taken balance-sheet actions to reduce leverage, including selling 4,451 BTC in Feb 2026 to repay loans and securing a $10.5M shareholder injection plus ~$65M in additional funding commitments to strengthen liquidity.
• The new AI initiative, EcoHash, will pilot modular AI inference nodes (a 1–2 MW Georgia retrofit) with a conservative 4–6 month build timeline and potential initial revenue in 2026, but commercial scale and unit economics remain at an early validation stage.

Cango Stock Up 7.6%

CANG stock opened at $0.70 on Tuesday. The company has a market capitalization of $145.51 million, a P/E ratio of -0.54 and a beta of 0.71. Cango has a 12 month low of $0.57 and a 12 month high of $2.10. The firm’s fifty day simple moving average is $1.05 and its 200-day simple moving average is $2.40. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 1.20.

Wall Street Analyst Weigh In

CANG has been the topic of a number of research analyst reports. Zacks Research lowered shares of Cango from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Cango in a research report on Tuesday, February 10th. Finally, Greenridge Global upgraded Cango to a “strong-buy” rating in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $3.00.

Institutional Investors Weigh In On Cango

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its holdings in Cango by 34.5% in the third quarter. BNP Paribas Financial Markets now owns 15,923 shares of the company’s stock valued at $68,000 after purchasing an additional 4,082 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Cango during the 2nd quarter valued at about $246,000. CI Investments Inc. lifted its holdings in shares of Cango by 206.7% in the 4th quarter. CI Investments Inc. now owns 105,456 shares of the company’s stock valued at $158,000 after buying an additional 71,076 shares during the period. Finally, Marshall Wace LLP acquired a new position in shares of Cango in the 4th quarter valued at about $1,677,000. 4.22% of the stock is owned by hedge funds and other institutional investors.

Cango Company Profile

Cango Inc (“Cango”) is a leading smart automotive transaction service provider in China, headquartered in Shanghai. The company operates an online‐to‐offline platform that integrates vehicle sourcing, financing, distribution and insurance, offering a comprehensive ecosystem for automakers, dealers and consumers. Leveraging big data analytics and cloud computing, Cango connects buyers and sellers through its proprietary digital infrastructure, facilitating transparent and efficient transactions across the automotive value chain.

Cango’s core offerings include auto financing solutions for new and used vehicles, extended consumer loans and wealth management products.