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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
$16.47B
P/E (TTM)
151.4
53
Dividend Yield
--
52W High
$74.15
52W Low
$5.13
52W Range
81%
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

Q4 2025 Data

Revenue

$187.29M+229.75%
4-Quarter Trend

EPS

$0.44-344.44%
4-Quarter Trend

FCF

$49.22M-116.87%
4-Quarter Trend

2025 Annual Earnings Highlights

Release Date: Aug 28, 2025

Key Highlights

Revenue and Profitability Surge Total revenue $501.02M, reversing prior $28.92M loss to achieve $86.94M net income for fiscal year 2025.
Operational Scale and Cash Generation Operating capacity reached 810 MW with 50.0 EH/s hashrate; generated net cash flow of $245.89M from operations.
HPC/AI Growth Strategy Execution AI Cloud Services revenue reached $16.39M; expanding GPU fleet to 10.9k units targeted by end of calendar year 2025.

Risk Factors

Equipment Supplier Dependence Highly dependent on limited equipment suppliers; supply chain issues frustrate expansion plans and increase procurement costs.
Energy and Regulatory Headwinds Energy-intensive operations face potential electricity supply restrictions and rising costs due to evolving political regulation.
Bitcoin Price Volatility Risk Future success tied significantly to volatile Bitcoin price; potential proof-of-work transition risks value of mining hardware.
Pending Litigation Exposure Subject to pending securities class action lawsuit; litigation defense diverts management attention and incurs substantial costs.

Outlook

HPC/AI Revenue Diversification Strategy focuses on expanding and diversifying revenue streams into HPC and AI services across existing and new markets.
Major Site Development Progress Advancing Sweetwater 1 and 2 projects; targeting grid connection dates in Q2 2026 and Q4 2027, respectively.
GPU Fleet Expansion Plans Procuring additional GPUs to bring total fleet size to approximately 10.9k NVIDIA GPUs by end of 2025.

Peer Comparison

Revenue (TTM)

Nomura Holdings, Inc.NMR
$4.45T
+87.8%
Nomura Holdings, Inc.NMR
$4.45T
+38.5%
Principal Financial Group, Inc.PFG
$14.78B
-3.3%

Gross Margin (Latest Quarter)

KeyCorpKEY
100.0%
+70.7 pp
KeyCorpKEY
100.0%
+70.7 pp
Futu Holdings LimitedFUTU
87.4%
-5.5 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
FUTU$27.71B27.226.4%4.9%
TW$22.49B34.310.9%1.7%
TW$22.49B34.310.9%1.7%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4-Quarter Revenue CAGR
+51.0%
Strong Growth
4-Quarter Net Income CAGR
N/M
Profitability Shift Observed
Cash Flow Stability
0%
Cash Flow Requires Attention

Research & Insights

Reports
All Years

  • Form 10-K - FY 2025

    Period End: Jun 30, 2025|Filed: Aug 28, 2025|
    Revenue: $501.02M+165.4%
    |
    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