EBANG INTERNATIONAL(EBON) - 2023 Q4 - Annual Report

Revenue and Net Loss - Total net revenues in the 2023 fiscal year decreased by 85.0% to US$4.9 million, from US$32.3 million in the 2022 fiscal year[2][4] - Net loss in the 2023 fiscal year was US$38.0 million, compared to US$45.8 million in the 2022 fiscal year[2][8] - Total revenues for the year ended December 31, 2023, were $4,855,181, a significant decrease from$32,328,119 in 2022 and $51,450,247 in 2021[17] - Net loss attributable to Ebang International Holdings Inc. for 2023 was$(36,772,143), compared to $(43,888,242) in 2022 and$4,430,941 in 2021[17] - Basic and diluted net loss per ordinary share for 2023 was $(5.86), compared to$(7.03) in 2022 and $0.75 in 2021[17] - Total comprehensive loss for 2023 was$(40,312,503), compared to $(51,095,454) in 2022 and$3,720,894 in 2021[17] Gross Profit and Loss - Gross loss in the 2023 fiscal year was US$16.7 million, compared to a gross profit of US$15.4 million in the 2022 fiscal year[2][5] - Gross loss for 2023 was $(16,703,805), compared to a gross profit of$15,412,324 in 2022 and $29,223,192 in 2021[17] Operating Expenses - Total operating expenses in the 2023 fiscal year decreased by 41.7$36.9 million, from US$63.4 million in the 2022 fiscal year[5] - Total operating expenses for 2023 were$36,942,914, down from $63,406,564 in 2022 and$27,192,823 in 2021[17] Cost of Revenues - Cost of revenues in the 2023 fiscal year increased by 27.4% to US$21.6 million, from US$16.9 million in the 2022 fiscal year[5] Interest Income - Interest income in the 2023 fiscal year was US$11.9 million, compared to US$4.4 million in the 2022 fiscal year[7] - Interest income for 2023 was $11,941,453, a significant increase from$4,362,832 in 2022 and $1,779,672 in 2021[17] Impairment Losses - Impairment of intangible assets in the 2023 fiscal year was US$3.7 million, related to a financial license impairment loss[6] - Impairment of goodwill in the 2023 fiscal year was US$2.3 million, representing impairment loss from a business acquisition in March 2022[6] Cryptocurrency Business - Revenue from cryptocurrency exchange and cross-border payment businesses increased by approximately 36$744,803, with no comparable data for 2022 and 2021[17] Cash and Cash Equivalents - Cash and cash equivalents were US$241.6 million as of December 31, 2023, compared with US$251.3 million as of December 31, 2022[8] Shares Outstanding - The number of basic shares outstanding for 2023 was 6,275,118, compared to 6,247,333 in 2022 and 5,923,845 in 2021[18]