IREN

+ Watchlist + Portfolio

IREN Limited

GridBrain — Sign in

GridSentinel — Sign in

GridAegis — Sign in

Key Metrics

Previous Close: $40.65
52-Week Range: $28.93 – $76.87
Market Cap: $16.46B
P/E (TTM): —
EPS (TTM): -2.22
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 3.79
PEG Ratio: 3.11
Return on Equity: -23.41%
Return on Assets: -2.53%
Gross Margin: 68.92%
Operating Margin: -102.47%
Profit Margin: -99.38%
Current Ratio: 3.55
Debt/Equity: 1.87
Total Debt: $7.84B
Free Cash Flow: $-4.22B
Revenue Growth: -26.70%
Earnings Growth: —
Enterprise Value: $18.40B

IREN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$59.04M	$75.51M	$187.19M	$501.02M	$707.01M
Cost of Revenue	$7.45M	$54.39M	$103.68M	$182.63M	$266.37M
Gross Profit	$51.59M	$21.12M	$83.51M	$318.39M	$440.63M
Selling, General & Admin	$26.07M	$33.18M	$50.03M	$127.22M	$319.78M
Operating Expenses	$51.13M	$69.68M	$110.79M	$296.27M	$819.39M
Operating Income	$462.00K	-$48.56M	-$27.28M	$22.12M	-$378.75M
EBITDA	$16.14M	-$122.56M	$25.10M	$285.68M	-$231.70M
Pretax Income	-$417.05M	-$169.44M	-$25.47M	$93.50M	-$708.68M
Income Tax	$2.72M	$2.39M	$3.45M	$6.56M	-$6.06M
Net Income	-$419.77M	-$171.83M	-$28.92M	$86.94M	-$702.62M
Diluted EPS	-10.25	-3.14	-0.29	0.34	-2.22
Diluted Shares	40.94M	54.78M	99.64M	258.10M	316.12M

IREN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$109.97M	$68.89M	$404.60M	$564.53M	$5.90B
Receivables	$23.65M	$6.54M	$29.37M	$24.98M	$58.65M
Current Assets	$160.25M	$89.23M	$452.38M	$641.17M	$7.89B
Total Assets	$570.46M	$332.07M	$1.15B	$2.94B	$15.79B
Current Liabilities	$85.11M	$24.00M	$51.07M	$149.35M	$2.22B
Long-Term Debt	$46.62M	—	—	$962.76M	$7.42B
Total Debt	$108.29M	$1.45M	$1.32M	$964.23M	$7.84B
Total Liabilities	$133.10M	$26.71M	$55.35M	$1.12B	$11.60B
Retained Earnings	-$482.40M	-$654.28M	-$683.11M	-$596.17M	-$1.30B
Shareholders' Equity	$437.36M	$305.36M	$1.10B	$1.82B	$4.19B
Working Capital	$75.15M	$65.23M	$401.31M	$491.83M	$5.67B
Net Debt	—	—	—	$398.24M	$1.70B

IREN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	-$37.48M	$5.73M	$52.22M	$245.89M	$2.10B
Capital Expenditure	-$294.25M	-$116.06M	-$479.91M	-$1.37B	-$4.45B
Free Cash Flow	-$331.73M	-$110.33M	-$427.69M	-$1.13B	-$2.35B
Depreciation & Amortisation	$7.74M	$30.67M	$50.47M	$181.14M	$417.73M
Stock-Based Compensation	$13.90M	$14.36M	$23.64M	$42.64M	$205.02M
Investing Cash Flow	-$259.08M	-$71.47M	-$498.47M	-$1.38B	-$4.72B
Financing Cash Flow	$372.04M	$28.56M	$782.63M	$1.29B	$9.68B
Net Change in Cash	$75.48M	-$37.18M	$336.38M	$160.13M	$7.06B

IREN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$144.82M	$187.29M	$240.29M	$184.69M	$144.79M	$137.22M
Cost of Revenue	$46.91M	$136.82M	$89.04M	$74.32M	$51.23M	$51.79M
Gross Profit	$97.92M	$50.47M	$151.26M	$110.38M	$93.57M	$85.43M
Selling, General & Admin	$21.81M	$93.25M	$94.10M	$81.52M	$60.54M	$83.62M
Operating Expenses	$70.23M	$33.66M	$211.39M	$195.03M	$186.92M	$226.05M
Operating Income	$27.69M	$16.80M	-$60.13M	-$84.66M	-$93.35M	-$140.62M
EBITDA	$40.32M	$153.13M	$669.80M	-$228.08M	-$118.00M	-$555.42M
Pretax Income	-$11.11M	$92.79M	$575.30M	-$337.93M	-$254.09M	-$691.97M
Income Tax	$5.04M	-$2.76M	$190.69M	-$182.52M	-$6.26M	-$7.97M
Net Income	-$16.14M	$95.55M	$384.61M	-$155.41M	-$247.83M	-$684.00M
Diluted EPS	-0.07	0.69	1.08	-0.52	-0.74	—
Diluted Shares	218.66M	258.10M	361.68M	331.76M	333.73M	—

IREN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$184.33M	$564.53M	$1.03B	$3.26B	$2.21B	$5.90B
Receivables	$21.01M	$24.98M	$35.49M	$47.40M	$114.76M	$58.65M
Current Assets	$255.91M	$641.17M	$1.12B	$3.38B	$2.42B	$7.89B
Total Assets	$1.99B	$2.94B	$4.27B	$7.03B	$7.26B	$15.79B
Current Liabilities	$553.11M	$149.35M	$203.75M	$682.13M	$651.36M	$2.22B
Long-Term Debt	—	$962.76M	$964.21M	$3.69B	$3.69B	$7.42B
Total Debt	$324.07M	$964.23M	$965.63M	$3.84B	$3.96B	$7.84B
Total Liabilities	$564.19M	$1.12B	$1.39B	$4.52B	$4.60B	$11.60B
Retained Earnings	-$691.84M	-$596.17M	-$211.56M	-$366.96M	-$614.79M	-$1.30B
Shareholders' Equity	$1.43B	$1.82B	$2.88B	$2.51B	$2.66B	$4.19B
Working Capital	-$297.20M	$491.83M	$920.20M	$2.70B	$1.77B	$5.67B
Net Debt	$138.15M	$398.24M	—	$424.71M	$1.47B	$1.70B

IREN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$93.10M	—	$142.35M	$71.65M	$75.32M	$1.81B
Capital Expenditure	-$443.80M	-$357.87M	-$280.61M	-$836.86M	-$1.36B	-$1.98B
Free Cash Flow	-$350.70M	$49.22M	-$138.26M	-$765.20M	-$1.28B	-$167.06M
Depreciation & Amortisation	$47.31M	—	$85.23M	$99.18M	$121.25M	$112.08M
Stock-Based Compensation	$7.77M	—	$72.41M	$58.23M	$31.49M	$42.90M
Investing Cash Flow	-$442.88M	-$674.48M	-$280.88M	-$850.95M	-$1.48B	-$2.11B
Financing Cash Flow	$107.13M	$646.27M	$606.14M	$3.01B	$355.03M	$5.71B
Net Change in Cash	-$242.65M	$378.89M	$467.61M	$2.23B	-$1.05B	$5.41B

Market Snapshot

About

IREN Limited is a bitcoin mining company that focuses on sustainable cryptocurrency production using renewable energy sources. The company operates data centers equipped with specialized mining hardware to validate bitcoin transactions and secure the blockchain network. IREN emphasizes environmental sustainability by utilizing low-carbon energy and capturing stranded energy resources. The company aims to build scalable, efficient bitcoin mining operations while maintaining a focus on energy innovation and responsible resource utilization.