IREN (IREN)
NASDAQ:IREN
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Earnings Data
Report Date
Sep 16, 2026After Close (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
-0.24Last Year’s EPS
0.65Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call signals strong strategic progress: substantial secured power (5 GW), a transformative NVIDIA partnership with aligned capital, clear ARR targets ($3.1B contracted, $3.7B target), execution momentum on major projects, and capability-building acquisitions (Mirantis, Nostrum). These positives are partially offset by a near-term financial drag from winding down Bitcoin mining—manifested as a QoQ revenue decline (-21.6%), lower mining revenue (-33.6%), a large net loss ($247.8M) driven by noncash impairments ($140.4M), and a back‑end weighted revenue ramp that requires continued on-time project delivery and financing. Overall, management presents a confident execution narrative with tangible commercial commitments and cash resources, but the company is in a capital‑intensive transition phase with near-term earnings pressure.Company Guidance
Secured Power and Capacity Scale
Secured power increased to 5.0 GW (portfolio-level secured power). Near-term 2026 target of 480 MW of AI cloud capacity and 150k GPUs; 2027 target to scale to 1.21 GW with 730 MW under construction; multi-year build intent toward a 5 GW global platform.
Major NVIDIA Strategic Partnership and Investment
Signed a multi-year NVIDIA partnership including a reported ~$3.54B five-year AI cloud contract and a $2.1B NVIDIA investment tied to deployment; NVIDIA investment vests with deployment (rights fully vest upon deployment of 600k GPUs), aligning capital with execution.
Strong Commercial Momentum and ARR
ARR under contract increased to $3.1B with a target of $3.7B ARR by year-end 2026 (implying ~19.4% upside to hit target); all operational capacity is fully contracted and capacity is being contracted ahead of commissioning.
Execution: Project Milestones and Time-to-Compute
Week One energized on schedule; Horizon One GPU commissioning underway for Microsoft with Microsoft handoff expected in Q3; 300 MW liquid-cooled Horizon One–Four at Childress progressing (~3,000 workers on site); Prince George 50 MW GPUs delivered and operating/commissioning; Sweetwater One substation energized.
Acquisitions Strengthening Delivery and Regional Footprint
Acquired Mirantis (650 engineers/operators) to bolster cloud orchestration, Kubernetes and AI infrastructure management; acquired Nostrum Group to enter Europe (adds ~490 MW of secured power in Spain and development team ~50 people).
Cash Position and GPU Financing Strategy
Cash and cash equivalents of $2.6B at April 30. GPU CapEx financing strategy includes prepayments and secured debt; ~95% of Microsoft GPU-related CapEx expected to be funded by prepayments/GPU financing (previous Microsoft GPU financing averaged ~3% interest).
AI Cloud Revenue Growth
AI cloud services revenue grew to $33.6M from $17.3M sequentially, an increase of ~94.2%, reflecting early revenue traction from AI cloud deployments despite the ongoing transition.
IREN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
IREN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $56.85 | ― | ― |
Feb 05, 2026 | $39.79 | $41.83 | +5.13% |
Nov 06, 2025 | $66.96 | $62.38 | -6.84% |
Aug 28, 2025 | $23.04 | $26.48 | +14.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does IREN (IREN) report earnings?
IREN (IREN) is schdueled to report earning on Sep 16, 2026, After Close (Confirmed).
What is IREN (IREN) earnings time?
IREN (IREN) earnings time is at Sep 16, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IREN EPS forecast?
IREN EPS forecast for the fiscal quarter 2026 (Q4) is -0.24.
