Financial report released by Ebang International Holdings Inc. for the initial half of fiscal year 2025.
Ebang International Holdings Inc. Reports Improved Financial Performance and Strategic Shift
Ebang International Holdings Inc., a key player in blockchain technology, Fintech, and renewable energy sectors, has announced its unaudited financial results for the first six months of fiscal year 2025. The company reported a 69.46% year-over-year revenue increase to $3.58 million, driven primarily by its strategic pivot into renewable energy products and rental services.
In the Fintech sector, Ebang's business demonstrated resilience and modest growth amid a challenging macroeconomic environment. The renewable energy segment, however, has become a new growth engine for the company, with investments in solar and energy storage solutions that align with global decarbonization trends.
Despite the revenue growth, the company reported a net loss of $4.50 million for the first six months of 2025, which narrowed from a $6.65 million loss in the same period in 2024. This indicates some improvement in Ebang's financial position.
The increase in total net revenues was driven by more revenue generated from sales of renewable energy products and services as well as rental services starting in the second half of 2024. Selling expenses, on the other hand, decreased significantly due to cost-saving initiatives across the Company's Chinese subsidiaries during the first six months of 2025.
Total operating expenses for the first six months of 2025 were $10.21 million, compared to $12.50 million in the same period of 2024. This decrease was primarily due to lower general and administrative expenses, which fell from $11.84 million to $9.94 million.
Loss from operations in the first six months of 2025 was $10.86 million, compared to $12.42 million in the same period of 2024. The period-over-period increase in cost of revenues was primarily driven by (1) more revenue generated from sales of renewable energy products starting in the second half of 2024, and (2) a value-added tax ("VAT") recoverable impairment which was recognized and substantially allocated to cost of revenue in the first six months of 2025.
Interest income for the first six months of 2025 was $4.41 million, compared to $6.04 million in the same period of 2024, mainly caused by a decrease in bank interest rates. Other income for the same period was $0.13 million compared to $0.33 million in 2024, due to the absence of a one-off non-operating income in 2025.
Basic and diluted net loss per share for the first six months of 2025 were both $0.72, compared to $0.99 in the same period of 2024. Gross loss for the same period was $0.65 million, compared to a gross profit of $0.08 million in the same period of 2024.
Ebang's CEO highlighted the shift in global demand for renewable energy from policy-driven to market-driven, underscoring confidence in sustained growth prospects in this sector. The company is focused on optimizing both product development and cost efficiency by repurposing its high-efficiency computing power and manufacturing capabilities for renewable energy applications.
Investors are advised to consider an 18-24 month horizon for potential profitability while monitoring execution risks and market conditions. Ebang International Holdings Inc. remains committed to its focus on both its Fintech and renewable energy businesses while maintaining adaptability to market demands and remaining open to new opportunities.
For more information, please visit https://ir.ebang.com/.
[1] Ebang International Holdings Inc. Press Release, "Ebang International Holdings Inc. Announces Unaudited Financial Results for the First Six Months of Fiscal Year 2025", 2025.
[2] Ebang International Holdings Inc. Investor Relations, "Ebang International Holdings Inc. Announces Unaudited Financial Results for the First Six Months of Fiscal Year 2025", 2025.
[3] Ebang International Holdings Inc. News, "Ebang International Holdings Inc. Announces Unaudited Financial Results for the First Six Months of Fiscal Year 2025", 2025.
[4] Ebang International Holdings Inc. Annual Report, "Ebang International Holdings Inc. Annual Report 2024", 2024.
[5] Ebang International Holdings Inc. Press Release, "Ebang International Holdings Inc. Announces Unaudited Financial Results for the First Six Months of Fiscal Year 2025", 2025.
- The media reported on Ebang International Holdings Inc.'s improved financial performance, attributed to a strategic shift towards renewable energy products and services.
- Ebang's CEO emphasized the growing market-driven demand for renewable energy, expressing optimism about the sector's sustained growth prospects.
- The company is planning to optimize product development and cost efficiency by repurposing its high-efficiency computing power and manufacturing capabilities for renewable energy applications.
- According to the company's announcement, total operating expenses decreased due to lower general and administrative expenses, primarily caused by cost-saving initiatives.
- Investors are advised to consider an 18-24 month horizon for potential profitability while monitoring execution risks and market conditions, as Ebang International Holdings Inc. remains committed to its focus on both Fintech and renewable energy businesses.
