logo
logo
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
$14.01B
P/E (TTM)
22.7
43.7
Dividend Yield
--
52W High
$76.87
52W Low
$5.13
52W Range
52%
Rank61Top 91.5%
2.0
F-Score
Modified Piotroski Analysis
Based on 7-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2025

Financial Dashboard

Q2 2026 Data

Revenue

$121.24M+0.00%
4-Quarter Trend

EPS

-$0.52+0.00%
4-Quarter Trend

FCF

$352.26M+0.00%
4-Quarter Trend

2026 Q2 Earnings Highlights

Key Highlights

Six Month Profitability Surge Net income $229.2M for six months ended 2025, reversing prior $(73.6)M loss; driven by financial instrument gains.
Total Revenue Jumps Total revenue $425.0M for six months 2025, up $256.1M from $168.9M in 2024; Bitcoin mining leads growth.
AI Cloud Services Expansion AI Cloud revenue reached $24.6M for six months 2025, up significantly due to increased customer contracts and capacity.
Strong Cash Position Maintained Cash and equivalents totaled $3.26B USD as of December 31, 2025, supported by significant financing proceeds.

Risk Factors

Bitcoin Price Dependency Risk Operating results remain tied to Bitcoin price fluctuations and global hashrate adjustments impacting mining rewards.
Hardware Supply Chain Constraints Securing GPUs and advanced mining machines faces potential delays, cost increases, and supply chain constraints.
US Import Tariff Uncertainty Contesting $100M potential tariff assessment on imported mining hardware; outcome remains uncertain for cash flow.
Energy Cost Volatility High energy consumption exposes operations to electricity price changes and regulatory restrictions on power access.

Outlook

Microsoft GPU Services Deployment Executing five-year Microsoft Agreement, targeting GPU deployment in four tranches starting 2026 across new facilities.
Major GPU Financing Secured Binding commitment for $3.6B delayed draw financing secured to support capital expenditure for Microsoft GPU services.
Data Center Infrastructure Buildout Continuing development of Sweetwater 1 and 2 sites, targeting ERCOT grid connection in 2026 and 2027.
Diversification Strategy Focus Increasing focus on expanding HPC and AI services beyond core Bitcoin mining operations for revenue diversification.

Peer Comparison

Revenue (TTM)

Nomura Holdings, Inc.NMR
$29.31B
-5.0%
KeyCorpKEY
$11.19B
+23.6%
Principal Financial Group, Inc.PFG
$11.05B
-31.5%

Gross Margin (Latest Quarter)

Banco de ChileBCH
2129.7%
+35.5pp
Houlihan Lokey, Inc.HLI
100.0%
+61.5pp
Principal Financial Group, Inc.PFG
100.0%
+9.8pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
NMR$27.99B11.710.2%51.7%
BAP$26.18B13.618.3%13.2%
TW$24.11B29.713.1%3.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-6.5%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:May 12, 2026
|
EPS:-
|
Revenue:-
Reports
Financials
All Years

  • Form 10-Q - Q2 2026

    Period End: Dec 31, 2025|Filed: Feb 5, 2026|
    Revenue: $121.24M+0.0%
    |
    EPS: $-0.52+0.0%
    Miss

  • Form 10-Q - Q1 2026

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $240.30M+341.8%
    |
    EPS: $1.42-625.9%
    Beat

  • 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: $187.19M+147.9%
    |
    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+647.5%
    |
    EPS: $-10.25-799.1%
    Miss