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IREN Limited

IREN

NASDAQTechnologyInformation Technology Services

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Previous close

$41.88

−$0.72 · -1.69%

Aug 21, 4:00 PM ET

IREN company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

73

Undervalued

Momentum

25

Weakening

Sentiment

66

Bullish

Risk resilience

17

Extreme Risk

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Company profile

Company website

IREN Limited, established in 2018 and based in Sydney, Australia, operates a comprehensive, vertically integrated data center business spanning Australia and Canada. The company possesses and manages all essential infrastructure, including its computing hardware, electrical systems, and the data center facilities themselves. A primary undertaking for IREN Limited is the mining of Bitcoin, a scarce digital asset created and exchanged via a decentralized, peer-to-peer computer network utilizing specialized Bitcoin software. The company was previously named Iris Energy Limited, officially adopting IREN Limited in November 2024.

Industry
Information Technology Services
Sector
Technology
Headquarters
AU
CEO
William Roberts
Listed since
Nov 17, 2021
Employees
257

Market position

Day range

Current $41.88

52-week range

Current $41.88

Open
$44.04
Previous close
$42.60
Volume
49.89M
1.07× average
Average volume
46.74M
Average daily volume
Market cap
14.95B USD
Beta
4.3
Market reference 1
50-day average
$43.559
-3.85% below average
200-day average
$46.6132
-10.15% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
3.53B USD
P/E (TTM)
1,047×
P/B (TTM)
3.4×
P/S (TTM)
19.74×
EV / EBITDA
12.34×
Earnings yield
2.78%
Free cash flow yield
-36.04%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
53.58%
Operating margin
-29.24%
Net margin
10.16%
Return on equity
4.78%
Return on assets
2.96%
Return on invested capital
0.74%

Financial health

Debt / equity
1.49×
Current ratio
4.29×
Altman Z-score
2.28
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends173%-168%-509%-850%Gross margin, FY2021: 71.88%Gross margin, FY2022: 87.38%Gross margin, FY2023: 27.97%Gross margin, FY2024: 43.87%Gross margin, FY2025: 68.27%Operating margin, FY2021: -3.99%Operating margin, FY2022: 0.78%Operating margin, FY2023: -64.31%Operating margin, FY2024: -14.57%Operating margin, FY2025: 4.42%Net margin, FY2021: -764.62%Net margin, FY2022: -711.03%Net margin, FY2023: -227.56%Net margin, FY2024: -15.45%Net margin, FY2025: 17.35%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 71.88%. Gross margin FY2022 87.38%. Gross margin FY2023 27.97%. Gross margin FY2024 43.87%. Gross margin FY2025 68.27%. Operating margin FY2021 -3.99%. Operating margin FY2022 0.78%. Operating margin FY2023 -64.31%. Operating margin FY2024 -14.57%. Operating margin FY2025 4.42%. Net margin FY2021 -764.62%. Net margin FY2022 -711.03%. Net margin FY2023 -227.56%. Net margin FY2024 -15.45%. Net margin FY2025 17.35%.

Income trends

Revenue

501.02M USD+167.65%

Operating income

22.12M USD+49.4M USD

Net income

86.94M USD+115.86M USD
Income trends across reported periods593.1M USD224.79M USD−143.53M USD−511.85M USDRevenue, FY2021: 5.93M USDRevenue, FY2022: 59.04M USDRevenue, FY2023: 75.51M USDRevenue, FY2024: 187.19M USDRevenue, FY2025: 501.02M USDOperating income, FY2021: −236.5K USDOperating income, FY2022: 462K USDOperating income, FY2023: −48.56M USDOperating income, FY2024: −27.28M USDOperating income, FY2025: 22.12M USDNet income, FY2021: −45.34M USDNet income, FY2022: −419.77M USDNet income, FY2023: −171.83M USDNet income, FY2024: −28.92M USDNet income, FY2025: 86.94M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 5.93M USD. Revenue FY2022 59.04M USD. Revenue FY2023 75.51M USD. Revenue FY2024 187.19M USD. Revenue FY2025 501.02M USD. Operating income FY2021 −236.5K USD. Operating income FY2022 462K USD. Operating income FY2023 −48.56M USD. Operating income FY2024 −27.28M USD. Operating income FY2025 22.12M USD. Net income FY2021 −45.34M USD. Net income FY2022 −419.77M USD. Net income FY2023 −171.83M USD. Net income FY2024 −28.92M USD. Net income FY2025 86.94M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue501.02M USD187.19M USD75.51M USD59.04M USD5.93M USD
Cost of goods sold158.99M USD105.07M USD54.39M USD7.45M USD1.67M USD
Gross profit342.03M USD82.12M USD21.12M USD51.59M USD4.26M USD
Selling, general, and administrative127.22M USD50.03M USD33.18M USD26.07M USD1.5M USD
Operating expenses319.91M USD109.4M USD69.68M USD51.13M USD4.5M USD
Interest income7.5M USD5.83M USD924K USD79K USD4.5K USD
Interest expense11.05M USD98K USD16.21M USD425.44M USD10.9M USD
Depreciation and amortization181.14M USD50.47M USD30.67M USD7.74M USD939.98K USD
Operating income22.12M USD−27.28M USD−48.56M USD462K USD−236.5K USD
Net income86.94M USD−28.92M USD−171.83M USD−419.77M USD−45.34M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 7 misses, 0 met estimates
Average EPS surprise
-81.16%
11 comparable reports
Latest EPS result
-0.74
Estimate -0.22 · Miss by 238.80%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates1.20.51-0.19-0.88Q4 '24MissQ1 '25BeatQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26Estimate
Q4 2024, reported Nov 26, 2024: actual -0.27, estimate -0.07, surprise -285.71%, Miss. Q1 2025, reported Feb 12, 2025: actual 0.09, estimate -0.04, surprise +325.00%, Beat. Q2 2025, reported May 14, 2025: actual 0.11, estimate 0.17, surprise -35.29%, Miss. Q3 2025, reported Aug 28, 2025: actual 0.65, estimate 0.177, surprise +267.86%, Beat. Q4 2025, reported Nov 6, 2025: actual 1.06, estimate 0.15, surprise +607.14%, Beat. Q1 2026, reported Feb 5, 2026: actual -0.52, estimate -0.242, surprise -115.07%, Miss. Q2 2026, reported May 7, 2026: actual -0.74, estimate -0.218, surprise -238.80%, Miss. Q3 2026, reported Aug 27, 2026: actual —, estimate -0.554, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates256.36M186.32M116.27M46.23MQ4 '24MissQ1 '25BeatQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26Estimate
Q4 2024, reported Nov 26, 2024: actual 54.39M USD, estimate 55.63M USD, surprise -2.22%, Miss. Q1 2025, reported Feb 12, 2025: actual 113.5M USD, estimate 111.26M USD, surprise +2.01%, Beat. Q2 2025, reported May 14, 2025: actual 148.1M USD, estimate 151.96M USD, surprise -2.54%, Miss. Q3 2025, reported Aug 28, 2025: actual 187.3M USD, estimate 188.91M USD, surprise -0.85%, Miss. Q4 2025, reported Nov 6, 2025: actual 240.3M USD, estimate 241.4M USD, surprise -0.45%, Miss. Q1 2026, reported Feb 5, 2026: actual 184.69M USD, estimate 227.33M USD, surprise -18.75%, Miss. Q2 2026, reported May 7, 2026: actual 144.8M USD, estimate 219.69M USD, surprise -34.09%, Miss. Q3 2026, reported Aug 27, 2026: actual —, estimate 132M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

14 ratings
Strong buy00%
Buy1071%
Hold321%
Sell17%
Strong sell00%

IREN peers

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SKHY

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Micron Technology, Inc. logo

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$966.78

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ETFs holding IREN

Funds reporting this stock among their holdings, ordered by reported position size.

iShares Russell Mid-Cap ETF logoiShares Russell Mid-Cap ETFIWR
Market value
56.01M
Weight
0.10%
AUM
57.66B USD
Expense ratio
0.18%
Price / 1D
$113.44+0.70%
Bitwise Crypto Industry Innovators ETF logoBitwise Crypto Industry Innovators ETFBITQ
Market value
33.33M
Weight
7.90%
AUM
422.45M USD
Expense ratio
0.85%
Price / 1D
$25.17+2.36%
First Trust Technology AlphaDEX Fund logoFirst Trust Technology AlphaDEX FundFXL
Market value
31.69M
Weight
1.15%
AUM
—
Expense ratio
—
Price / 1D
$214.52+0.41%
Global X - Blockchain ETF logoGlobal X - Blockchain ETFBKCH
Market value
28.12M
Weight
10.38%
AUM
271.05M USD
Expense ratio
0.50%
Price / 1D
$70.34+1.53%
iShares Russell 1000 Value ETF logoiShares Russell 1000 Value ETFIWD
Market value
26.75M
Weight
0.03%
AUM
83.81B USD
Expense ratio
0.18%
Price / 1D
$257.29+0.44%
iShares MSCI USA Momentum Factor ETF logoiShares MSCI USA Momentum Factor ETFMTUM
Market value
23.28M
Weight
0.09%
AUM
24.86B USD
Expense ratio
0.15%
Price / 1D
$305.17+0.02%
Dan Ives Wedbush AI Revolution ETF logoDan Ives Wedbush AI Revolution ETFIVES
Market value
18.13M
Weight
1.72%
AUM
1.05B USD
Expense ratio
0.75%
Price / 1D
$38.71+0.97%
iShares Russell Mid-Cap Value ETF logoiShares Russell Mid-Cap Value ETFIWS
Market value
18.04M
Weight
0.11%
AUM
15.89B USD
Expense ratio
0.23%
Price / 1D
$171.98+0.61%

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