$EBON

Ebang International Holdings Inc.

CIK:0001799290|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Total revenues	$ 6,536,987	$ 5,868,771	$ 4,855,181
Cost of revenues	6,142,141	4,679,085	21,558,986
Gross profit (loss)	394,846	1,189,686	(16,703,805)
Operating expenses:
Selling expenses	536,562	1,107,048	1,893,607
General and administrative expenses	22,733,520	30,455,530	29,041,432
Impairment of intangible assets	1,096,816		3,708,247
Impairment of goodwill	1,327,457		2,299,628
Total operating expenses	25,694,355	31,562,578	36,942,914
Gain on disposal of subsidiaries			7,524
Loss from operations	(25,299,509)	(30,372,892)	(53,639,195)
Other income (expenses):
Interest income	8,513,402	11,371,783	11,941,453
Other income	167,841	328,360	1,131,178
(Loss) gain from investment	(508,155)	382,896	356,996
Net (loss) gain on disposal of cryptocurrencies		(374,964)	744,803
Exchange gain (loss)	3,078,562	(2,169,880)	456,647
Government grants	39,121	52,191	62,600
Other expenses	(477,443)	(126,208)	(119,531)
Total other income	10,813,328	9,464,178	14,574,146
Loss before income taxes benefit	(14,486,181)	(20,908,714)	(39,065,049)
Income taxes benefit	(320,983)	(42,545)	(1,031,461)
Net loss	(14,165,198)	(20,866,169)	(38,033,588)
Less: net loss attributable to non-controlling interest	(71,669)	(615,118)	(1,261,445)
Net loss attributable to Ebang International Holdings Inc.	(14,093,529)	(20,251,051)	(36,772,143)
Comprehensive loss
Net loss	(14,165,198)	(20,866,169)	(38,033,588)
Other comprehensive loss:
Foreign currency translation adjustment	(790,425)	917,303	(2,278,915)
Total comprehensive loss	(14,955,623)	(19,948,866)	(40,312,503)
Less: comprehensive income (loss) attributable to non-controlling interest	41,392	(710,883)	(1,377,803)
Comprehensive loss attributable to Ebang International Holdings Inc.	$ (14,997,015)	$ (19,237,983)	$ (38,934,700)
Net loss per ordinary share attributable to Ebang International Holdings Inc.
Basic (in Dollars per share)	$ (2.24)	$ (3.22)	$ (5.86)
Dilute (in Dollars per share)	$ (2.24)	$ (3.22)	$ (5.86)
Weighted average ordinary shares outstanding
Basic (in Shares)	6,280,616	6,280,616	6,275,118
Diluted (in Shares)	6,280,616	6,280,616	6,275,118
Product revenue
Total revenues	$ 793,047	$ 1,179,404	$ 782,349
Service revenue
Total revenues	$ 5,743,940	$ 4,689,367	$ 4,072,832

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (14,165,198)	$ (20,866,169)	$ (38,033,588)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization expenses	2,554,235	2,601,044	3,519,859
Net provision for (reversal of) credit losses	296,987	(1,052,143)	975,114
Reversal of share-based compensation expenses	(363,949)	(1,013,080)	(153,034)
Loss on disposal of property, plant and equipment	103,941	3,694	478,849
Loss on disposal of intangible assets			200,000
Inventory write-down	49,476	272,316	340,186
Loss (gain) on short-term investment	508,155	(382,896)	(356,996)
Impairment of goodwill	1,327,457		2,299,628
Deferred income taxes	(320,983)	(42,545)	(1,031,461)
Impairment of property, plant and equipment			57,117
Impairment of intangible assets	1,096,816		3,708,247
Impairment of VAT recoverable	2,391,242		16,688,647
Loss from cybersecurity event			2,251,551
Noncash lease expenses	1,048,615	1,446,952	1,835,542
(Gain) loss from modification of lease contract	(17,424)	15,334
(Gain) loss on foreign currency transactions	(3,078,562)	2,169,880	(456,647)
Loss (gain) on disposal of cryptocurrencies		374,964	(744,803)
Gain on disposal of subsidiaries			(7,524)
Changes in assets and liabilities:
Accounts receivable, net	260,007	49,129	2,612,509
Inventories, net	(2,753,317)	(191,030)	(122,326)
Advances to suppliers	(395,405)	20,400	229,246
VAT recoverable	125,155	(33,836)	(133,790)
Prepayments and other current assets, net	4,042,281	1,722,176	956,970
Other assets	221,214	474,554	(323,279)
Accounts payable	144,400	(112,408)	(1,130,842)
Other non-current liability	(34,786)	382,678
Advances from customers	(41,497)	(11,976)	(916,451)
Accrued liabilities and other payables	(2,043,999)	(3,440,917)	(4,272,841)
NET CASH USED IN OPERATING ACTIVITIES	(9,045,139)	(17,613,879)	(11,530,117)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(4,497,134)	(223,106)	(985,794)
Proceeds from disposal of property, plant and equipment	184,717	15,251
Cash paid for short-term investments	(17,110,774)	(36,286,215)
Collections from short-term investments	16,056,425	31,635,910	5,694,982
Purchase of cryptocurrencies			(9,162,886)
Proceeds from disposal of cryptocurrencies			7,199,398
Prepayment for property, plant and equipment		(4,716,030)	(123,000)
Payments for business combination, net of cash acquired		(317,395)
Cash from disposal of subsidiaries, net of cash disposed of			7,524
NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES	(5,366,766)	(9,891,585)	2,630,224
EFFECT OF FOREIGN EXCHANGE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	427,044	(410,170)	(407,061)
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(13,984,861)	(27,915,634)	(9,306,954)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR	215,004,528	242,920,162	252,227,116
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR	201,019,667	215,004,528	242,920,162
Cash paid for:
Interest
Income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Liabilities assumed in connection with purchase of property, plant and equipment		2,131	34,596
Reduction of PPE cost and AP due to contract settlement	3,188,367,000,000
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	1,119,621	273,213	1,801,664
Remeasurement of the lease liabilities and right-of-use assets due to lease modification	136,855	1,350,538	320,911
Issuance of vested restricted share awards			98
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents	200,191,726	213,822,331	241,634,262
Restricted cash, current	31,155	580,019	88,614
Restricted cash, non-current	796,786	602,178	1,197,286
Total cash, cash equivalents and restricted cash	$ 201,019,667	$ 215,004,528	$ 242,920,162

Consolidated Balance Sheets - USD ($)

Dec. 31, 2025

Dec. 31, 2024

Current assets:

Cash and cash equivalents

$ 200,191,726

$ 213,822,331

Restricted cash, current

31,155

580,019

Short-term investments

6,169,815

4,906,760

Accounts receivable, net

1,099,081

1,586,766

Advances to suppliers

477,748

70,312

Inventories, net

3,642,958

597,116

Prepayments

729,713

322,382

VAT recoverable, current

87,505

3,203,198

Other current assets, net (include $126,920 and nil due from a related party as of December 31, 2025 and 2024, respectively)

3,758,291

5,676,953

Total current assets

216,187,992

230,765,837

Non-current assets:

Property, plant and equipment, net

29,804,484

29,907,181

Intangible assets, net

2,196,854

3,339,664

Operating lease right-of-use assets

3,608,497

3,348,442

Operating lease right-of-use assets - related party

69,486

40,081

Restricted cash, non-current

796,786

602,178

Goodwill

1,277,789

VAT recoverable, non-current

1,468,819

766,587

Other assets

2,635,010

5,756,224

Total non-current assets

40,579,936

45,038,146

Total assets

256,767,928

275,803,983

Current liabilities:

Accounts payable

436,119

286,099

Accrued liabilities and other payables (include $126,920 and nil due to a related party as of December 31, 2025 and 2024, respectively)

6,310,237

10,367,210

Operating lease liabilities, current

1,105,514

1,114,377

Operating lease liabilities - related parties, current

48,252

29,961

Advances from customers

14,812

55,403

Total current liabilities

7,914,934

11,853,050

Non-current liabilities:

Operating lease liabilities, non-current

3,430,152

2,877,122

Operating lease liabilities – related party, non-current

21,234

10,120

Other non-current liability

357,403

376,841

Deferred tax liabilities

3,379

326,452

Total non-current liabilities

3,812,168

3,590,535

Total liabilities

11,727,102

15,443,585

Equity:

Additional paid-in capital

396,090,766

396,454,715

Statutory reserves

11,079,649

Accumulated deficit

(149,185,245)

(135,091,716)

Accumulated other comprehensive loss

(13,777,506)

(12,874,020)

Total Ebang International Holdings Inc. shareholders’ equity

244,231,820

259,592,784

Non-controlling interest

809,006

767,614

Total equity

245,040,826

260,360,398

Total liabilities and equity

256,767,928

275,803,983

Class A Ordinary Shares

Equity:

Ordinary share

^[1]

18,178

Class B Ordinary Shares

Equity:

Ordinary share

^[1]

$ 5,978

[1]	As of December 31, 2025 and 2024, 263,322 reserved for future issuance upon the vesting of RSAs granted under the 2020 Plan were considered issued but not outstanding. See Note 12.