Q3 2025 earningsThu, Nov 6, 2025
IREN reports first quarter FY26 results
Total Revenue240.3M USD
AI Cloud Services Revenue7.3M USD
Adjusted EBITDA91.7M USD
Net Income (Loss)384.6M USD
Key points
- Total revenue $240.3 million, +355% vs. Q1 FY25's $52.8 million
- Net income of $384.6 million (vs. a $51.7 million net loss in Q1 FY25), including unrealized gains on prepaid forwards and capped calls
- Adjusted EBITDA of $91.7 million (+3,568% vs. Q1 FY25)
- Targeting $3.4 billion AI Cloud annualized run-rate revenue by end of 2026, expansion to 140k GPUs
- New multi-year AI cloud contracts with Together AI, Fluidstack and Fireworks AI
Deal
Together AI, Fluidstack, Fireworks AINov 2025
Site update
| Site | Status | Active | In build | Theoretical |
|---|---|---|---|---|
ChildressChildress, TX Q1 FY26 results: "Childress (750MW)", accelerating construction of Horizon 1-4 (200MW critical IT load) liquid-cooled data centers for Microsoft. Active MW not restated in this release. | ActiveUnder construction | — | 200 MWIT | 750 MWgross |