EBON

MKT CAP:$16M

Ebang International Holdings Inc.

Market Cap

$16M

Technology·Computer Hardware·🇨🇳 China·NASDAQ

Technology·Computer Hardware·🇨🇳·NASDAQ

Stock Price

$2.70-$0.50 (-15.63%)

Apr 21, 2026

Company Details

Ebang International Holdings Inc., through its subsidiaries, engages in the research, design, and development of application-specific integrated circuit chips and manufacture of Bitcoin mining machines under the Ebit brand in China, the Uni...

CEO

Dong Hu

IPO Date

Jun 26, 2020

Website

www.ebang.com.cn

Key Metrics TTM

Revenue

$10M

-85.3% YoY

Net Income

-$54M

EPS (Diluted)

-$8.55

Free Cash Flow

-$23M

Revenue / Share

$1.63

Gross Margin

-167.9%

Operating Margin

-745.8%

Net Margin

-525.6%

FCF Margin

-220.7%

P/S

1.6x

P/E

—

Earnings Reports

Q2 2025

Aug 15, 2025

$4M+69.5%EPS -$0.72

FY 2024

Apr 28, 2025

$6M+20.9%EPS -$3.22

Q4 2024

Apr 28, 2025

$4M+388.4%EPS -$2.23

Q2 2024

Jun 29, 2024

$2M-48.3%EPS -$0.99

FY 2023

Apr 26, 2024

$5M-85.0%EPS -$5.86

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 16	$11M	$5M	$322.9K
Q2 17	$35M	$14M	$10M
Q4 17	$113M	$66M	$55M
Q2 19	$22M	-$18M	-$27M
Q4 19	$87M	-$13M	-$23M
Q2 20	$11M	-$966.9K	-$9M
Q4 20	$8M	-$2M	-$18M
Q2 21	$18M	$6M	-$5M
Q4 21	$33M	$24M	$7M
Q2 22	$25M	$14M	-$10M
Q4 22	$7M	$1M	-$38M
Q2 23	$4M	$992.6K	-$13M
Q4 23	$768.8K	-$18M	-$35M
Q2 24	$2M	$81.8K	-$12M
Q4 24	$4M	$1M	-$18M
Q2 25	$4M	-$648.5K	-$11M

Valuation

Quarter	P/S	P/E
Q4 16	0.5x	2.9x
Q2 17	0.3x	1.3x
Q4 17	0.1x	0.3x
Q2 19	0.1x	0.4x
Q4 19	0.1x	1.2x
Q2 20	0.1x	—
Q4 20	0.1x	—
Q2 21	0.1x	—
Q4 21	0.2x	—
Q2 22	0.2x	—
Q4 22	0.2x	—
Q2 23	0.2x	—
Q4 23	0.4x	—
Q2 24	1.2x	—
Q4 24	1.5x	—
Q2 25	1.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 16	-$9M	-$9M
Q2 17	$3M	$2M
Q4 17	$120M	$110M
Q2 19	$832.0K	$360.3K
Q4 19	-$14M	-$19M
Q2 20	-$5M	-$6M
Q4 20	-$10M	-$21M
Q2 21	$0	$0
Q4 21	$707.0K	$707.0K
Q2 22	$0	$0
Q4 22	$127.6B	$127.6B
Q2 23	$0	$0
Q4 23	$0	$0
Q2 24	$0	$0
Q4 24	-$18M	-$23M
Q2 25	$0	$0

Capital Expenditures

Quarter	CapEx
Q4 16	$236.2K
Q2 17	$312.4K
Q4 17	$10M
Q2 19	$471.7K
Q4 19	$5M
Q2 20	$269.2K
Q4 20	$11M
Q2 21	$0
Q4 21	$0
Q2 22	$0
Q4 22	$3M
Q2 23	$0
Q4 23	$0
Q2 24	$0
Q4 24	$5M
Q2 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 16	+83.1%	+97.2%
Q2 17	+723.0%	+576.7%
Q4 17	+1011.8%	+721.0%
Q2 19	+221.0%	+809.5%
Q4 19	+708.2%	+956.0%
Q2 20	-68.5%	-21.7%
Q4 20	-92.9%	-54.7%
Q2 21	-18.1%	-53.3%
Q4 21	-61.8%	-76.2%
Q2 22	+126.9%	+79.5%
Q4 22	-8.7%	+73.2%
Q2 23	-77.7%	-28.0%
Q4 23	-97.7%	+36.6%
Q2 24	-91.6%	-59.0%
Q4 24	-48.3%	-51.7%
Q2 25	-12.3%	-13.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 16	$0	0.0%
Q2 17	$0	0.0%
Q4 17	$0	0.0%
Q2 19	$0	0.0%
Q4 19	$0	0.0%
Q2 20	$0	0.0%
Q4 20	$0	0.0%
Q2 21	$0	0.0%
Q4 21	$707.0K	2.1%
Q2 22	$0	0.0%
Q4 22	$4M	53.7%
Q2 23	$0	0.0%
Q4 23	-$153.0K	-19.9%
Q2 24	$0	0.0%
Q4 24	$0	0.0%
Q2 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 16	—	$3M	$1M	—
Q2 17	—	$4M	$845.2K	—
Q4 17	$9M	—	—	$936.2K
Q2 19	$7M	$9M	$494.8K	—
Q4 19	$6M	$9M	$718.5K	—
Q2 20	$4M	$7M	$452.6K	—
Q4 20	$5M	$15M	$472.8K	—
Q2 21	—	$10M	$594.0K	—
Q4 21	$7M	$14M	$824.6K	—
Q2 22	—	$23M	$2M	—
Q4 22	$5M	$37M	$270.7K	—
Q2 23	—	$13M	$745.4K	—
Q4 23	$7M	$16M	$1M	—
Q2 24	—	$12M	$657.5K	—
Q4 24	$425.9K	$19M	$449.5K	—
Q2 25	—	$10M	$272.4K	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 16	$10M	$0	$10M
Q2 17	$23M	$0	$23M
Q4 17	$133M	$38.4K	$133M
Q4 18	$10M	$0	$10M
Q4 19	$3M	$0	$3M
Q2 20	$1M	$0	$1M
Q4 20	$14M	$41M	$55M
Q2 21	$278M	$7M	$285M
Q4 21	$240M	$35M	$275M
Q2 22	$251M	$13M	$265M
Q4 22	$251M	$6M	$257M
Q2 23	$249M	$869.8K	$250M
Q4 23	$242M	$496.1K	$242M
Q2 24	$230M	$6M	$235M
Q4 24	$214M	$5M	$219M
Q2 25	$215M	$705.9K	$215M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 16	106M	+4.2%	+120.8%
Q2 17	105M	-0.6%	+108.0%
Q4 17	54M	-48.2%	-57.8%
Q2 19	4M	-93.2%	-96.3%
Q4 19	4M	0.0%	-96.5%
Q2 20	4M	+0.1%	-96.5%
Q4 20	4M	+18.0%	-91.9%
Q2 21	6M	+28.4%	+51.6%
Q4 21	6M	+9.7%	+66.3%
Q2 22	6M	+0.8%	+67.4%
Q4 22	6M	+0.1%	+42.1%
Q2 23	6M	+0.3%	+11.0%
Q4 23	6M	+0.2%	+1.4%
Q2 24	6M	-0.0%	+0.6%
Q4 24	6M	0.0%	+0.5%
Q2 25	6M	0.0%	+0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 16	—	—
Q2 17	—	—
Q4 17	—	—
Q2 19	—	—
Q4 19	—	—
Q2 20	—	—
Q4 20	$38.8K	205
Q2 21	$89.2K	205
Q4 21	$126.5K	262
Q2 22	$95.6K	262
Q4 22	$24.5K	297
Q2 23	$13.8K	297
Q4 23	$2.5K	303
Q2 24	$7.0K	303
Q4 24	$17.2K	218
Q2 25	$16.4K	218

Revenue / Employee