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AI Cloud·IREN
IREN Limited
NASDAQ · AU
Data center operator with bitcoin mining roots that now sells IREN Cloud GPU services and AI/HPC infrastructure capacity.
AI relevance
Public AI compute hosting pivot with powered data center assets and customer-facing GPU cloud capacity.
Price
$35.45
Change
-5.08 (-12.53%)
Market cap
$12.7B
52w range
$25–$77
Exchange
NASDAQ
Country
AU
Jason's Chips
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Price chart
IREN market performance
Daily close for IREN Limited
- Latest close
- $35.45
- Range move
- +$12.41 (+53.9%)
- Range high
- $76.41
- Range low
- $23.04
- Latest volume
- 89.9M
- Source
- FMP EOD
Downloads
CSVExports
Download statements, ratios, chart data, and transcript indexes.
Income statement
8 annual rowsRevenue, gross profit, R&D, operating income, EBITDA, net income, and EPS.
Balance sheet
8 annual rowsCash, receivables, inventory, PP&E, assets, debt, liabilities, and equity.
Cash flow
8 annual rowsOperating cash flow, capital expenditures, and free cash flow.
Key metrics
8 annual rowsEnterprise value, valuation multiples, returns, yields, and cash conversion.
Ratios
8 annual rowsMargins, liquidity ratios, valuation ratios, leverage, and per-share metrics.
Chart data
1199 rowsFive years of daily close and volume data powering the company chart.
Transcript list
16 rowsAvailable earnings-call transcript dates by fiscal year and quarter.
StreetBuy
Analyst expectations
Rating consensus14 ratings
Strong buy
0
Buy
10
Hold
3
Sell
1
Strong sell
0
Annual estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2027-06-30 | $2.82B | $2.13B - $3.85B | $-0.46 | $-3.77 - $2.34 | $171.0M | -$279.5M | -$283.2M | $932.2M | 11 rev / 8 EPS |
| 2028-06-30 | $5.42B | $4.17B - $7.54B | $1.45 | $-0.42 - $3.37 | $1.55B | $323.1M | $252.4M | $1.80B | 10 rev / 5 EPS |
| 2029-06-30 | $8.48B | $6.52B - $11.78B | $1.32 | $0.58 - $2.00 | $2.71B | $368.6M | $288.2M | $2.81B | 4 rev / 3 EPS |
| 2030-06-30 | $14.90B | $11.46B - $20.72B | $2.91 | $2.04 - $4.39 | $5.08B | $826.0M | $649.6M | $4.93B | 2 rev / 1 EPS |
Quarterly estimates
| Period | Revenue avg | Revenue range | EPS avg | EPS range | EBITDA avg | EBIT avg | Net income avg | SG&A avg | Analysts |
|---|---|---|---|---|---|---|---|---|---|
| 2026-09-30 | $288.0M | $183.7M - $376.3M | $-0.37 | $-0.60 - $-0.15 | $52.8M | -$73.2M | -$84.8M | $95.4M | 7 rev / 2 EPS |
| 2026-12-31 | $566.1M | $362.3M - $754.9M | $-0.25 | $-0.36 - $-0.13 | $97.1M | -$45.2M | -$56.8M | $187.4M | 3 rev / 1 EPS |
| 2027-03-31 | $920.7M | $589.2M - $1.23B | $0.04 | $0.02 - $0.06 | $195.3M | $23.3M | $9.2M | $304.9M | 3 rev / 1 EPS |
| 2027-06-30 | $1.14B | $731.2M - $1.52B | $0.15 | $0.08 - $0.22 | $265.0M | $55.9M | $35.0M | $378.3M | 3 rev / 1 EPS |
| 2027-09-30 | $1.29B | $828.5M - $1.73B | $0.51 | $0.27 - $0.73 | $407.1M | $156.6M | $114.6M | $428.7M | 3 rev / 1 EPS |
| 2027-12-31 | $1.44B | $921.5M - $1.92B | $0.64 | $0.34 - $0.92 | $491.6M | $196.1M | $145.7M | $476.8M | 3 rev / 1 EPS |
| 2028-03-31 | $1.56B | $999.6M - $2.08B | $0.80 | $0.43 - $1.15 | $584.8M | $241.6M | $181.7M | $517.2M | 2 rev / 1 EPS |
| 2028-06-30 | $1.69B | $1.08B - $2.26B | $0.97 | $0.51 - $1.38 | $681.6M | $287.9M | $218.3M | $560.0M | 4 rev / 1 EPS |
Price target history
| Window | Targets | Average target |
|---|---|---|
| Last month | 2 | $92.50 |
| Last quarter | 7 | $88.43 |
| Last year | 28 | $74.25 |
| All time | 43 | $54.22 |
Sources: StreetInsider, Benzinga
Latest grade actions
| Date | Firm | Action | Previous | New |
|---|---|---|---|---|
| 2026-07-22 | HC Wainwright & Co. | Maintain | Buy | Buy |
| 2026-07-21 | Canaccord Genuity | Maintain | Buy | Buy |
| 2026-07-15 | Macquarie | Maintain | Outperform | Outperform |
| 2026-07-06 | Freedom Broker | Upgrade | Hold | Buy |
| 2026-06-04 | B. Riley Securities | Maintain | Buy | Buy |
| 2026-06-04 | Macquarie | Maintain | Outperform | Outperform |
| 2026-06-03 | Canaccord Genuity | Maintain | Buy | Buy |
| 2026-05-28 | Cantor Fitzgerald | Maintain | Overweight | Overweight |
Historical rating snapshots
| Date | Strong buy | Buy | Hold | Sell | Strong sell |
|---|---|---|---|---|---|
| 2026-08-01 | 1 | 12 | 3 | 0 | 1 |
| 2026-07-01 | 1 | 11 | 4 | 0 | 1 |
| 2026-06-01 | 1 | 10 | 4 | 0 | 2 |
| 2026-05-01 | 1 | 10 | 4 | 0 | 2 |
| 2026-04-01 | 1 | 10 | 3 | 1 | 2 |
| 2026-03-01 | 1 | 10 | 2 | 0 | 2 |
| 2026-02-01 | 1 | 10 | 2 | 0 | 1 |
| 2026-01-01 | 1 | 10 | 2 | 1 | 1 |
FinancialsFY 2026
Financials
Income statement annual
| Period | Revenue | Gross profit | Gross margin | R&D | Operating income | EBITDA | Net income | EPS |
|---|---|---|---|---|---|---|---|---|
| FY 2026 | $707.0M | $487.3M | 68.9% | $0 | $11.7M | -$1.11B | -$702.6M | $0.00 |
| FY 2025 | $501.0M | $342.0M | 68.3% | $0 | $22.1M | $285.7M | $86.9M | $0.41 |
| FY 2024 | $187.2M | $82.1M | 43.9% | $0 | -$27.3M | $25.1M | -$28.9M | $-0.29 |
| FY 2023 | $75.5M | $21.1M | 28.0% | $0 | -$48.6M | -$122.6M | -$171.8M | $-3.14 |
| FY 2022 | $59.0M | $51.6M | 87.4% | $0 | $462,000 | $16.1M | -$419.8M | $-10.25 |
| FY 2021 | $5.9M | $4.3M | 71.9% | $0 | -$236,497.8 | -$32.6M | -$45.3M | $-1.14 |
| FY 2020 | $1.5M | $868,894 | 57.7% | $0 | -$1.2M | -$888,988 | -$1.5M | $-0.04 |
| FY 2019 | $1,053 | $0 | 0.0% | $0 | -$112,679 | $0 | -$161,120 | $-0.01 |
Cash flow annual
| Period | Operating cash flow | Capex | Free cash flow |
|---|---|---|---|
| FY 2026 | $2.10B | $0 | $2.10B |
| FY 2025 | $245.9M | $1.37B | -$1.13B |
| FY 2024 | $52.2M | $479.9M | -$427.2M |
| FY 2023 | $5.7M | $116.1M | -$110.0M |
| FY 2022 | $21.6M | $294.2M | -$272.7M |
| FY 2021 | $1.3M | $5.4M | -$4.1M |
| FY 2020 | -$987,000 | $4.3M | -$5.3M |
| FY 2019 | -$434,919 | $2.1M | -$2.5M |
Balance sheet annual
| Period | Cash + ST inv. | Receivables | Inventory | PP&E | Assets | Debt | Net debt | Liabilities | Equity |
|---|---|---|---|---|---|---|---|---|---|
| FY 2026 | $5.90B | $21.1M | $0 | $6.76B | $15.79B | $416.0M | -$5.48B | $11.60B | $4.19B |
| FY 2025 | $564.5M | $25.0M | $0 | $1.94B | $2.94B | $964.2M | $399.7M | $1.12B | $1.82B |
| FY 2024 | $411.1M | $29.4M | $0 | $442.9M | $1.15B | $1.3M | -$403.3M | $55.3M | $1.10B |
| FY 2023 | $68.9M | $6.5M | $0 | $242.5M | $332.1M | $1.4M | -$67.4M | $26.7M | $305.4M |
| FY 2022 | $110.0M | $16.3M | $0 | $171.1M | $570.5M | $108.3M | -$1.7M | $133.1M | $437.4M |
| FY 2021 | $29.3M | $595,344 | $0 | $13.0M | $101.0M | $62.9M | $33.7M | $138.1M | -$37.1M |
| FY 2020 | $2.0M | $331,000 | $0 | $8.4M | $11.6M | $1.4M | $3,464 | $1.9M | $6.1M |
| FY 2019 | $84,948 | $0 | $0 | $1.4M | $1.9M | $32,294 | -$52,654 | $109,519 | $1.8M |
Annual ratios and key metrics
| Period | Gross margin | Op margin | Net margin | Current | Quick | ROE | ROIC | EV / sales | EV / EBITDA | FCF yield | R&D / rev. | Cash cycle |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2026 | 68.9% | 1.7% | -99.4% | 3.6x | 3.6x | -16.8% | 0.1% | -7.8x | 4.9x | 0.0% | 0.0% | 11d |
| FY 2025 | 68.3% | 4.4% | 17.4% | 4.3x | 4.3x | 4.8% | 0.7% | 7.0x | 12.3x | -36.0% | 0.0% | -169d |
| FY 2024 | 43.9% | -14.6% | -15.4% | 8.9x | 8.9x | -2.6% | -2.5% | 4.6x | 34.0x | -34.0% | 0.0% | -38d |
| FY 2023 | 28.0% | -64.3% | -227.6% | 3.7x | 3.7x | -56.3% | -15.8% | 2.5x | -1.5x | -43.1% | 0.0% | -46d |
| FY 2022 | 87.4% | 0.8% | -711.0% | 1.9x | 1.9x | -96.0% | 0.1% | 2.3x | 8.4x | -198.8% | 0.0% | -548d |
| FY 2021 | 71.9% | -4.0% | -764.6% | 0.2x | 0.2x | 122.1% | -0.9% | 223.9x | -40.8x | -0.3% | 0.0% | -53d |
| FY 2020 | 57.7% | -77.8% | -98.5% | 1.3x | 1.3x | -24.3% | -10.6% | 892.9x | -1513.0x | -0.4% | 0.0% | -218d |
| FY 2019 | 0.0% | -10700.8% | -15301.0% | 1.9x | 1.9x | -9.2% | -6.5% | 378346.9x | 0.0x | -0.6% | 0.0% | -6084d |
Annual growth
| Period | Revenue | Gross profit | R&D | Op income | Net income | EPS | FCF | Capex | Cash + ST inv. | Inventory | Assets | Debt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FY 2026 | +41.1% | +42.5% | 0.0% | -47.1% | -908.2% | -100.0% | +286.4% | +100.0% | +944.3% | 0.0% | +437.0% | -56.9% |
| FY 2025 | +167.7% | +316.5% | 0.0% | +181.1% | +400.6% | +241.4% | -163.8% | -186.0% | +37.3% | 0.0% | +155.0% | +72892.6% |
| FY 2024 | +147.9% | +288.8% | 0.0% | +43.8% | +83.2% | +90.8% | -288.3% | -313.5% | +496.8% | 0.0% | +247.2% | -8.8% |
| FY 2023 | +27.9% | -59.1% | 0.0% | -10610.4% | +59.1% | +69.4% | +59.7% | +60.6% | -37.4% | 0.0% | -41.8% | -98.7% |
| FY 2022 | +895.6% | +1110.4% | 0.0% | +295.4% | -825.8% | -799.1% | -6499.8% | -5303.6% | +275.7% | 0.0% | +465.1% | +72.1% |
| FY 2021 | +293.6% | +390.5% | 0.0% | +79.8% | -2954.9% | -2845.7% | +22.4% | -25.6% | +1396.5% | 0.0% | +772.3% | +4531.6% |
| FY 2020 | +142954.1% | 0.0% | 0.0% | -940.5% | -821.2% | -290.9% | -110.1% | -106.7% | +2202.6% | 0.0% | +522.3% | +4107.5% |
| FY 2019 | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
SegmentsFY 2026
Revenue Mix
Latest product mixFY 2026 · $4.4M
Bitcoin Mining$4.4M · 100.0%
Latest geography mixFY 2026 · $707.0M
AUSTRALIA$578.2M · 81.8%
CANADA$128.8M · 18.2%
Product revenue annual
| Period | Total | Bitcoin Mining |
|---|---|---|
| FY 2026 | $4.4M | $4.4M |
Geography revenue annual
| Period | Total | AUSTRALIA | CANADA | North America |
|---|---|---|---|---|
| FY 2026 | $707.0M | $578.2M | $128.8M | -- |
| FY 2025 | $501.0M | $484.6M | $16.4M | -- |
| FY 2024 | $188.8M | $184.1M | -- | $4.7M |
Transcripts16 on file
Transcripts
Events
Events
Next earnings
2026-11-05EPS est $-0.50
Latest news
- IREN: AI Pivot Continues
Seeking Alpha · 2026-08-28
- IREN: Why The Bullish Narrative Still Holds After Earnings
Seeking Alpha · 2026-08-28