IREN
IREN · NasdaqFinance Services · Fiscal year ends Jun 30
IREN reported revenue of $707M in the fiscal year ended Jun 2026, up 41.1% from the year before. Operating income was −$1B, an operating margin of −148.0%, and net income was −$703M. Operating cash flow of $2.1B less capital expenditure of $3B left free cash flow of −$898M. Net debt was $1.7B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|
| Revenue | $76M | $187M | $501M | $707M |
| Cost of revenue | $39M | $87M | $159M | $220M |
| Gross profit | $36M | $100M | $342M | $487M |
| Selling, general & admin | $49M | $70M | $136M | $449M |
| Operating income | −$157M | −$27M | $17M | −$1B |
| Interest expense | $16M | $98,000 | $11M | $59M |
| Pre-tax income | −$169M | −$25M | $94M | −$709M |
| Income tax | $2M | $3M | $7M | −$6M |
| Net income | −$172M | −$29M | $87M | −$703M |
| Diluted EPS | −3.14 | −0.29 | 0.39 | −2.22 |
| Diluted shares | 55M | 100M | 223M | 316M |
Balance sheet
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|
| Cash & equivalents | $69M | $405M | $565M | $5.9B |
| Receivables | – | $152,000 | $2M | $21M |
| Current assets | – | $452M | $641M | $7.9B |
| Net PP&E | – | $441M | $1.9B | – |
| Goodwill | – | $0 | $0 | $37M |
| Total assets | – | $1.2B | $2.9B | $15.8B |
| Payables | – | $27M | $82M | $1.3B |
| Deferred revenue | – | $3M | $884,000 | $46M |
| Current liabilities | – | $51M | $149M | $2.2B |
| Short-term debt | – | – | $0 | $169M |
| Long-term debt | – | – | $963M | $7.4B |
| Total liabilities | – | $55M | $1.1B | $11.6B |
| Shareholders' equity | $305M | $1.1B | $1.8B | $4.2B |
| Backlog (remaining obligations) | – | – | – | $5.1B |
Cash flow
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|
| Operating cash flow | $6M | $52M | $246M | $2.1B |
| Capital expenditure | $116M | $142M | $573M | $3B |
| Free cash flow | −$110M | −$90M | −$328M | −$898M |
| Depreciation & amortisation | $31M | $50M | $181M | $418M |
| Stock-based compensation | $14M | $24M | $43M | $205M |
| Dividend per share | 0.00 | 0.00 | 0.00 | 0.00 |
Key ratios
| Fiscal year | Jun 2023 | Jun 2024 | Jun 2025 | Jun 2026 |
|---|---|---|---|---|
| Revenue growth (YoY) | – | 147.9% | 167.7% | 41.1% |
| Operating income growth (YoY) | – | – | – | −6140.9% |
| EPS growth (YoY) | – | – | – | −669.2% |
| Gross margin | 47.8% | 53.5% | 68.3% | 68.9% |
| Operating margin | −208.2% | −14.5% | 3.5% | −148.0% |
| Net margin | −227.6% | −15.4% | 17.4% | −99.4% |
| Return on equityBlank when equity is negative | −56.3% | −2.6% | 4.8% | −16.8% |
| ROCEEBIT ÷ (assets − current liabilities) | – | −2.5% | 0.6% | −7.7% |
| Free cash flow margin | −146.1% | −47.9% | −65.4% | −127.0% |
| Cash conversion (CFO ÷ net income) | −0.03x | −1.81x | 2.83x | −2.99x |
| Receivable days | – | 0 | 1 | 11 |
| Payable days | – | 115 | 188 | 2156 |
| Interest cover | −9.70x | −278x | 1.57x | −17.7x |
| Debt ÷ equity | – | – | 0.53x | 1.81x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | – | – | $398M | $1.7B |
| Current ratio | – | 8.86x | 4.29x | 3.55x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.