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IREN Limited

IREN Limited

NASDAQ•IREN
CEO: Mr. William Roberts
Sector: Financial Services
Industry: Financial - Capital Markets
Listing Date: 2021-11-17
Iris Energy Limited owns and operates bitcoin mining data centers. It also provides high performance computing solutions, including Al cloud services. The company was incorporated in 2018 and is headquartered in Sydney, Australia.
Contact Information
44 Market Street, Level 12, Sydney, NSW, 2000, Australia
61-2-7906-8301
iren.com
Market Cap
$13.14B
P/E (TTM)
19.2
50.9
Dividend Yield
--
52W High
$76.87
52W Low
$5.13
52W Range
57%
1.6
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 1.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2018-2024

Financial Dashboard

Q1 2026 Data

Revenue

$240.30M+341.80%
4-Quarter Trend

EPS

$1.42+0.00%
4-Quarter Trend

FCF

$142.35M-136.76%
4-Quarter Trend

2026 Q1 Earnings Highlights

Key Highlights

Revenue Soars 358% Total revenue reached $240.3M, sharply up from $52.8M last year, driven by mining and AI services growth.
Net Income Swing Massive Reported $384.6M net income versus $51.7M loss previously; largely due to $665.0M unrealized financial instrument gains.
Bitcoin Mining Revenue Jumps Mining revenue hit $232.9M, fueled by higher Bitcoin price and average hashrate increasing to 45.3 EH/s.
Strong Cash Position Cash and equivalents totaled $1.03B as of September 30, 2025, following strong operating cash inflow of $142.4M.

Risk Factors

US Import Tariff Dispute Contesting $100M tariff assessment from US Customs regarding hardware origin; outcome remains uncertain currently.
Legal Settlement Paid Finalized $20M settlement payment related to Non-Recourse SPVs bankruptcy proceedings during the quarter.
Energy Regulation Exposure Government focus on energy use risks increased power costs or restrictions for mining and HPC operations.
High Stock Volatility Risk Market price of ordinary shares remains highly volatile; returns depend solely on appreciation, no dividends paid.

Outlook

Major AI Services Contract Secured $9.7B contract with Microsoft for dedicated GPU services over five years, starting deployment in 2026.
GPU Fleet Expansion Signed agreements for additional 5,000 GPUs this quarter; total fleet stands at approximately 23,300 GPUs ordered.
New Convertible Notes Issued Completed $1.0B 2031 Convertible Notes offering in October 2025 to fund capital needs and expansion plans.
Strategy Shift to HPC Increasing focus on diversifying revenue by replacing Bitcoin mining ASICs with GPU-based HPC and AI services.

Peer Comparison

Revenue (TTM)

Nomura Holdings, Inc.NMR
$4.45T
+38.5%
Principal Financial Group, Inc.PFG
$14.78B
+5.1%
KeyCorpKEY
$10.20B
+4.1%

Gross Margin (Latest Quarter)

Futu Holdings LimitedFUTU
87.4%
-5.5 pp
Credicorp Ltd.BAP
74.6%
+12.2 pp
IREN LimitedIREN
66.4%
-59.3 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
TW$23.37B35.710.9%1.7%
FUTU$23.08B22.726.4%4.9%
NMR$21.84B9.110.9%0.0%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+26.9%
Strong Growth
4Q Net Income CAGR
+173.1%
Profitability Improved
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 10-Q - Q1 2026

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $240.30M+341.8%
    |
    EPS: $1.42+0.0%
    N/A

  • Form 10-K - FY 2025

    Period End: Jun 30, 2025|Filed: Aug 28, 2025|
    Revenue: $501.02M+167.7%
    |
    EPS: $0.41+241.4%
    Beat

  • Form 20-F/A - FY 2024

    Period End: Jun 30, 2024|Filed: Mar 20, 2025|
    Revenue: $188.76M+150.0%
    |
    EPS: $-0.29+90.8%
    Miss

  • Form 20-F - FY 2024

    Period End: Jun 30, 2024|Filed: Aug 28, 2024|Refer to amended data

  • Form 20-F - FY 2023

    Period End: Jun 30, 2023|Filed: Sep 13, 2023|
    Revenue: $75.51M+27.9%
    |
    EPS: $-3.14+69.4%
    Beat

  • Form 20-F - FY 2022

    Period End: Jun 30, 2022|Filed: Sep 13, 2022|
    Revenue: $59.04M+653.2%
    |
    EPS: $-10.25-799.1%
    Miss