IREN (IREN) financial statements
IREN reported revenue of $707M in fiscal 2026, up 162.2% a year over 6 years.
Net income was -$703M and the operating margin -148.0%, against -77.1% in 2020.
Free cash flow was -$898M.
The diluted share count rose 1861% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from IREN's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Revenue | $2M | $8M | $59M | $76M | $187M | $501M | $707M |
| Cost of revenue | — | — | — | $39M | $87M | $159M | $220M |
| Gross profit | — | — | — | $36M | $100M | $342M | $487M |
| Selling, general and admin | — | — | — | $49M | $70M | $136M | $449M |
| Operating income | -$2M | -$524,000 | $307,000 | -$157M | -$27M | $17M | -$1.0B |
| Interest expense | $102,000 | $311,000 | $5M | $16M | $98,000 | $11M | $59M |
| Pre-tax income | -$2M | -$59M | -$417M | -$169M | -$25M | $94M | -$709M |
| Income tax | $0 | $1M | $3M | $2M | $3M | $7M | -$6M |
| Net income | -$2M | -$60M | -$420M | -$172M | -$29M | $87M | -$703M |
| EPS (diluted) | -$0.13 | -$2.93 | -$10.25 | -$3.14 | -$0.29 | $0.39 | -$2.22 |
| Diluted shares | 16M | 21M | 41M | 55M | 100M | 223M | 316M |
| Gross margin | — | — | — | 47.8% | 53.5% | 68.3% | 68.9% |
| Operating margin | -77.1% | -6.6% | 0.5% | -208.2% | -14.5% | 3.5% | -148.0% |
| Net margin | -98.5% | -764.6% | -711.0% | -227.6% | -15.4% | 17.4% | -99.4% |
Balance sheet
Fiscal years, from IREN's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $2M | $39M | $110M | $69M | $411M | $565M | $5.9B |
| Receivables | — | — | — | $0 | $152,000 | $2M | $21M |
| Total current assets | $3M | $40M | $160M | $89M | $452M | $641M | $7.9B |
| Property, plant and equipment | $8M | $16M | $248M | $241M | $441M | $1.9B | $6.8B |
| Goodwill | $568,000 | $659,000 | $634,000 | $0 | $0 | $0 | $37M |
| Total assets | $12M | $134M | $570M | $332M | $1.2B | $2.9B | $15.8B |
| Total current liabilities | $3M | $170M | $85M | $24M | $51M | $149M | $2.2B |
| Long-term debt | $0 | $12M | $48M | $1M | — | $963M | $7.4B |
| Total liabilities | $3M | $184M | $133M | $27M | $55M | $1.1B | $11.6B |
| Shareholders' equity | $9M | -$49M | $437M | $305M | $1.1B | $1.8B | $4.2B |
| Net debt | $5,000 | $45M | -$2M | -$69M | -$405M | $398M | $1.7B |
Cash flow
Fiscal years, from IREN's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$987,000 | $2M | -$37M | $6M | $52M | $246M | $2.1B |
| Capital spending | $4M | $7M | $84M | $116M | $142M | $573M | $3.0B |
| Free cash flow | -$5M | -$6M | -$121M | -$110M | -$90M | -$328M | -$898M |
| Stock-based compensation | $179,000 | $805,000 | $14M | $14M | $24M | $43M | $205M |
| Net borrowing | $0 | $15M | $53M | -$9M | $0 | $0 | -$9M |
| Free cash flow margin | -225.4% | -70.1% | -205.2% | -146.1% | -47.9% | -65.4% | -127.0% |
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Open IREN in InvestinglyQuestions
What was IREN's revenue in 2026?
$707M in fiscal 2026, from its 10-K filing.
How much free cash flow does IREN generate?
-$898M in fiscal 2026 (operating cash flow minus capital spending).
From IREN's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.