IREN (IREN) Financials

$58.39 +3.22 (+5.84%)

As of 11:24 AM Eastern

Annual Income Statements for IREN

This table shows IREN's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-2.14	-60	-420	-172	-29	87
Consolidated Net Income / (Loss)	-2.14	-60	-420	-172	-29	87
Net Income / (Loss) Continuing Operations	-2.14	-60	-420	-172	-29	87
Total Pre-Tax Income	-2.14	-59	-417	-169	-25	94
Total Operating Income	-1.69	-1.11	0.30	-157	-27	17
Total Gross Profit	-0.94	0.57	8.20	36	100	342
Total Revenue	1.65	6.92	52	76	187	501
Operating Revenue	1.65	6.92	52	76	187	501
Total Cost of Revenue	2.59	6.35	44	39	87	159
Operating Cost of Revenue	2.59	6.35	44	39	87	159
Total Operating Expenses	0.76	1.68	7.91	193	127	325
Selling, General & Admin Expense	-	-	-	54	78	150
Depreciation Expense	0.76	1.25	7.74	31	50	181
Other Operating Expenses / (Income)	-	-	-	-3.12	-1.57	-9.41
Impairment Charge	0.00	0.43	0.17	105	0.00	7.22
Other Special Charges / (Income)	0.00	-	-	6.63	-0.04	-4.00
Total Other Income / (Expense), net	-0.45	-58	-417	-12	1.77	76
Interest Expense	0.10	61	-	16	0.10	11
Interest & Investment Income	-	-	0.08	0.92	5.83	7.50
Other Income / (Expense), net	-0.35	3.13	-417	3.09	-3.97	80
Income Tax Expense	0.00	1.24	2.72	2.39	3.45	6.56
Basic Earnings per Share	($0.13)	($2.93)	($10.25)	($3.14)	($0.29)	$0.41
Weighted Average Basic Shares Outstanding	-	-	54.98M	54.78M	99.64M	214.59M
Diluted Earnings per Share	($0.13)	($2.93)	($10.25)	($3.14)	($0.29)	$0.39
Weighted Average Diluted Shares Outstanding	-	-	54.98M	54.78M	99.64M	223.25M
Weighted Average Basic & Diluted Shares Outstanding	-	-	54.98M	66.70M	187.86M	271.98M
Cash Dividends to Common per Share	-	-	-	$0.00	$0.00	$0.00

This table shows IREN's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-52	-22	-16	385	-155	-248
Consolidated Net Income / (Loss)	-52	-22	-16	385	-155	-248
Net Income / (Loss) Continuing Operations	-52	-22	-16	385	-155	-248
Total Pre-Tax Income	-50	-19	-11	575	-338	-254
Total Operating Income	-47	17	29	-76	-116	-234
Total Gross Profit	21	84	103	160	119	105
Total Revenue	53	116	145	240	185	145
Operating Revenue	53	116	145	240	185	145
Total Cost of Revenue	32	32	42	81	66	40
Operating Cost of Revenue	32	32	42	81	66	40
Total Operating Expenses	68	67	74	236	235	338
Selling, General & Admin Expense	30	33	31	138	106	82
Depreciation Expense	34	36	47	85	99	121
Other Operating Expenses / (Income)	-1.63	-3.10	-3.09	-3.83	-1.82	-4.83
Impairment Charge	6.94	0.00	0.00	16	32	140
Other Special Charges / (Income)	-0.83	0.68	-1.53	0.01	-0.01	-0.23
Total Other Income / (Expense), net	-3.34	-36	-40	652	-222	-21
Interest Expense	0.02	0.00	4.12	9.28	122	15
Interest & Investment Income	2.29	1.59	1.93	7.13	16	22
Other Income / (Expense), net	-5.60	-38	-38	654	-115	-28
Income Tax Expense	1.28	3.01	5.04	191	-183	-6.26
Basic Earnings per Share	($0.27)	($0.10)	($0.07)	$1.42	($0.52)	($0.74)
Weighted Average Basic Shares Outstanding	189.26M	210.47M	218.66M	270.70M	298.03M	333.73M
Diluted Earnings per Share	($0.27)	($0.10)	($0.07)	$1.08	($0.52)	($0.74)
Weighted Average Diluted Shares Outstanding	189.26M	210.47M	218.66M	361.68M	298.03M	333.73M
Weighted Average Basic & Diluted Shares Outstanding	-	-	-	283.47M	332.28M	357.38M
Cash Dividends to Common per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00

This table details how cash moves in and out of IREN's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Net Change in Cash & Equivalents	1.52	38	81	-37	336	160
Net Cash From Operating Activities	-1.43	1.76	-145	5.73	52	246
Net Cash From Continuing Operating Activities	-1.43	0.26	-145	5.73	52	246
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	-172	-29	87
Consolidated Net Income / (Loss)	-	-	-	-172	-29	87
Depreciation Expense	-	-	-	31	50	181
Amortization Expense	-	-	-	1.04	0.00	1.40
Non-Cash Adjustments To Reconcile Net Income	-1.43	0.59	-145	136	19	-18
Changes in Operating Assets and Liabilities, net	-	-0.33	-	9.66	11	-5.44
Net Cash From Investing Activities	-3.91	-81	-84	-71	-498	-1,380
Net Cash From Continuing Investing Activities	-3.91	-81	-84	-71	-498	-1,380
Purchase of Property, Plant & Equipment	-3.91	-81	-84	-116	-142	-573
Acquisitions	-	-	-	-1.21	0.00	0.00
Sale of Property, Plant & Equipment	0.00	0.00	0.04	32	0.04	11
Other Investing Activities, net	-	-	0.00	13	-357	-818
Net Cash From Financing Activities	6.85	118	309	29	783	1,295
Net Cash From Continuing Financing Activities	6.85	118	309	29	783	1,295
Repayment of Debt	0.00	-4.72	-12	-9.68	0.00	-8.09
Issuance of Debt	4.16	17	321	0.00	0.00	701
Issuance of Common Equity	2.68	-	-	38	782	601
Other Financing Activities, net	-	106	-	0.00	0.50	0.88
Cash Interest Paid	0.00	-	5.25	4.10	0.21	7.63
Cash Income Taxes Paid	-	-	-	0.00	1.42	0.00

This table details how cash moves in and out of IREN's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-306	330	-243	468	2,228	-1,047
Net Cash From Operating Activities	-3.92	54	93	142	72	75
Net Cash From Continuing Operating Activities	-3.92	54	93	142	72	75
Net Income / (Loss) Continuing Operations	-52	-22	-16	385	-155	-248
Consolidated Net Income / (Loss)	-52	-22	-16	385	-155	-248
Depreciation Expense	34	36	47	85	99	121
Amortization Expense	0.00	0.15	0.55	1.34	2.04	2.74
Non-Cash Adjustments To Reconcile Net Income	23	44	49	-568	324	198
Changes in Operating Assets and Liabilities, net	-8.69	-4.87	13	240	-198	1.16
Net Cash From Investing Activities	-387	-180	-443	-281	-851	-1,477
Net Cash From Continuing Investing Activities	-387	-180	-443	-281	-851	-1,477
Purchase of Property, Plant & Equipment	-106	-139	-144	-180	-540	-949
Sale of Property, Plant & Equipment	0.51	7.81	1.65	0.00	-	23
Other Investing Activities, net	-282	-49	-300	-101	-204	-551
Net Cash From Financing Activities	85	457	107	606	3,008	355
Net Cash From Continuing Financing Activities	85	457	107	606	3,008	355
Repayment of Debt	0.00	-1.82	-	-0.88	-1,672	-20
Repurchase of Common Equity	-0.10	-0.57	-0.48	-18	-	-5.48
Issuance of Common Equity	84	148	108	618	1,632	380
Cash Interest Paid	0.02	0.06	0.02	0.00	17	4.28
Cash Income Taxes Paid	0.00	1.35	1.00	0.00	0.52	0.09

This table presents IREN's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Total Assets	12	134	570	332	1,153	2,940
Total Current Assets	2.57	40	160	89	452	641
Cash & Equivalents	1.96	39	110	69	405	565
Accounts Receivable	0.33	0.79	24	6.54	0.15	22
Prepaid Expenses	0.28	76	27	14	12	46
Current Deferred & Refundable Income Taxes	-	-	-	-	0.00	2.58
Other Current Assets	-	-	-	-	0.00	5.76
Plant, Property, & Equipment, net	8.04	16	248	241	441	0.00
Total Noncurrent Assets	0.97	2.97	4.46	1.74	259	2,299
Long-Term Investments	-	-	-	-	0.00	212
Goodwill	0.57	0.66	0.63	-	-	0.00
Other Noncurrent Operating Assets	0.40	1.40	1.59	1.73	259	2,088
Total Liabilities & Shareholders' Equity	12	134	570	332	1,153	2,940
Total Liabilities	2.76	184	133	27	55	1,123
Total Current Liabilities	2.76	170	22	24	51	149
Accounts Payable	0.75	1.12	19	17	45	144
Current Deferred Revenue	-	-	-	-	2.56	0.88
Current Deferred & Payable Income Tax Liabilities	0.00	0.53	1.20	0.03	1.39	0.00
Other Current Liabilities	0.00	97	-	6.36	1.63	4.35
Total Noncurrent Liabilities	0.00	13	48	2.71	4.27	973
Long-Term Debt	0.00	12	-	-	0.00	963
Noncurrent Deferred Revenue	-	-	-	-	-	0.00
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	1.62	0.19	1.37	3.13	9.43
Other Noncurrent Operating Liabilities	-	-	-	-	1.15	1.30
Commitments & Contingencies	-	-	-	-	0.00	0.00
Total Equity & Noncontrolling Interests	8.82	-49	437	305	1,097	1,817
Total Preferred & Common Equity	8.82	-49	437	305	1,097	1,817
Total Common Equity	8.82	-49	437	305	1,097	1,817
Common Stock	10	10	927	966	1,816	2,444
Retained Earnings	-2.25	-63	-482	-654	-683	-596
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-35	-30

This table presents IREN's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2025	12/31/2025	3/31/2026
Total Assets	4,267	7,028	7,265
Total Current Assets	1,124	3,383	2,424
Cash & Equivalents	1,032	3,261	2,213
Accounts Receivable	24	47	115
Prepaid Expenses	53	55	90
Current Deferred & Refundable Income Taxes	0.00	0.00	0.00
Other Current Assets	2.91	20	6.49
Plant, Property, & Equipment, net	2,115	0.00	0.00
Total Noncurrent Assets	1,028	3,644	4,840
Long-Term Investments	681	0.00	0.00
Goodwill	-	-	109
Other Noncurrent Operating Assets	347	3,537	4,732
Total Liabilities & Shareholders' Equity	4,267	7,028	7,265
Total Liabilities	1,391	4,516	4,600
Total Current Liabilities	204	682	651
Accounts Payable	152	576	462
Current Deferred Revenue	1.11	6.79	22
Current Deferred & Payable Income Tax Liabilities	0.13	0.75	0.91
Other Current Liabilities	51	98	167
Total Noncurrent Liabilities	1,187	3,834	3,949
Long-Term Debt	964	3,685	3,688
Noncurrent Deferred Revenue	22	40	99
Noncurrent Deferred & Payable Income Tax Liabilities	197	10	3.30
Other Noncurrent Operating Liabilities	3.65	99	159
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	2,876	2,511	2,665
Total Preferred & Common Equity	2,876	2,511	2,665
Total Common Equity	2,876	2,511	2,665
Common Stock	3,123	2,910	3,319
Retained Earnings	-212	-367	-615
Accumulated Other Comprehensive Income / (Loss)	-36	-32	-39

This table displays calculated financial ratios and metrics derived from IREN's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	6/30/2020	6/30/2021	6/30/2022	6/30/2023	6/30/2024	6/30/2025
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	318.51%	654.99%	32.56%	158.69%	167.65%
EBITDA Growth	0.00%	354.28%	-12,619.39%	65.91%	113.84%	1,350.84%
EBIT Growth	0.00%	198.78%	-20,770.22%	59.15%	81.61%	411.03%
NOPAT Growth	0.00%	34.16%	126.48%	-52,173.90%	81.37%	184.51%
Net Income Growth	0.00%	-2,719.33%	-595.10%	59.06%	83.15%	400.63%
EPS Growth	0.00%	-2,102.71%	-250.14%	69.37%	90.76%	234.48%
Operating Cash Flow Growth	0.00%	223.23%	-8,325.04%	126.54%	1,130.24%	370.87%
Free Cash Flow Firm Growth	0.00%	0.00%	-2,345.53%	77.04%	-593.06%	-178.32%
Invested Capital Growth	0.00%	-152.37%	6,158.52%	-15.09%	181.93%	192.00%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	-56.56%	8.24%	15.71%	-25.41%	12.24%	68.27%
EBITDA Margin	-77.80%	47.27%	-783.81%	-201.55%	10.78%	55.80%
Operating Margin	-102.36%	-16.10%	0.56%	-221.87%	-15.98%	3.46%
EBIT Margin	-123.59%	29.17%	-798.63%	-246.11%	-17.49%	19.37%
Profit (Net Income) Margin	-129.58%	-872.94%	-803.70%	-248.23%	-16.17%	17.35%
Tax Burden Percent	100.00%	102.09%	100.65%	101.41%	113.54%	92.98%
Interest Burden Percent	104.85%	-2,931.17%	99.98%	99.46%	81.39%	96.35%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	7.02%
Return on Invested Capital (ROIC)	-13.42%	-37.12%	0.15%	-41.54%	-4.41%	1.20%
ROIC Less NNEP Spread (ROIC-NNEP)	-19,165.42%	-303.01%	746.34%	15.64%	-0.81%	-61.90%
Return on Net Nonoperating Assets (RNNOA)	-10.87%	334.34%	-216.58%	-4.74%	0.28%	4.77%
Return on Equity (ROE)	-24.29%	297.22%	-216.43%	-46.28%	-4.13%	5.97%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-101.58%	-25.22%	-99.68%	-96.76%
Operating Return on Assets (OROA)	-17.65%	2.76%	-118.35%	-37.76%	-4.22%	4.74%
Return on Assets (ROA)	-18.51%	-82.70%	-119.10%	-38.09%	-3.90%	4.25%
Return on Common Equity (ROCE)	-24.29%	297.22%	-216.43%	-46.28%	-4.13%	5.97%
Return on Equity Simple (ROE_SIMPLE)	-24.29%	122.11%	-95.98%	-56.28%	-2.64%	0.00%
Net Operating Profit after Tax (NOPAT)	-1.18	-0.78	0.21	-108	-20	16
NOPAT Margin	-71.65%	-11.27%	0.40%	-155.31%	-11.18%	3.22%
Net Nonoperating Expense Percent (NNEP)	19,152.00%	265.89%	-746.19%	-57.18%	-3.61%	63.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	0.05%	-35.07%	-1.82%	0.58%
Cost of Revenue to Revenue	156.56%	91.76%	84.29%	125.41%	87.76%	31.73%
SG&A Expenses to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	29.89%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	45.80%	24.34%	15.14%	196.46%	28.22%	64.81%
Earnings before Interest and Taxes (EBIT)	-2.04	2.02	-417	-170	-31	97
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-1.29	3.27	-409	-140	19	280
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	26.26	0.00	0.06	0.84	0.69	1.51
Price to Tangible Book Value (P/TBV)	28.07	0.00	0.06	0.84	0.69	1.51
Price to Revenue (P/Rev)	140.07	33.47	0.53	3.70	4.20	5.46
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	31.48
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	3.18%
Enterprise Value to Invested Capital (EV/IC)	26.24	0.00	0.00	0.79	0.51	1.46
Enterprise Value to Revenue (EV/Rev)	140.07	39.95	0.00	2.72	1.92	5.84
Enterprise Value to EBITDA (EV/EBITDA)	0.00	84.52	0.00	0.00	17.78	10.46
Enterprise Value to EBIT (EV/EBIT)	0.00	136.95	0.00	0.00	0.00	30.13
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	181.48
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	156.94	0.00	4.91	0.73	11.89
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	21.82	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.22	-1.70	0.00	0.00	0.00	0.53
Long-Term Debt to Equity	0.00	-0.24	0.00	0.00	0.00	0.53
Financial Leverage	0.00	-1.10	-0.29	-0.30	-0.35	-0.08
Leverage Ratio	1.31	-3.59	1.82	1.22	1.06	1.40
Compound Leverage Factor	1.38	105.34	1.82	1.21	0.86	1.35
Debt to Total Capital	18.19%	243.89%	0.00%	0.41%	0.13%	34.63%
Short-Term Debt to Total Capital	18.19%	209.44%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	34.45%	0.00%	0.41%	0.13%	34.63%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	81.81%	-143.89%	100.00%	99.59%	99.87%	65.37%
Debt to EBITDA	-1.52	25.63	0.00	-0.01	0.07	3.44
Net Debt to EBITDA	0.00	13.71	0.00	0.48	-21.21	0.67
Long-Term Debt to EBITDA	0.00	3.62	0.00	-0.01	0.07	3.44
Debt to NOPAT	-1.66	-107.49	0.00	-0.01	-0.07	59.76
Net Debt to NOPAT	0.00	-57.49	0.00	0.63	20.45	11.58
Long-Term Debt to NOPAT	0.00	-15.18	0.00	-0.01	-0.07	59.76
Altman Z-Score	49.70	-0.96	-3.09	1.75	7.77	1.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.93	0.24	7.13	3.72	8.87	4.29
Quick Ratio	0.83	0.23	5.94	3.14	8.64	3.93
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	13	-284	-65	-453	-1,302
Operating Cash Flow to CapEx	-36.51%	2.17%	-173.23%	45.99%	333.46%	43.73%
Free Cash Flow to Firm to Interest Expense	0.00	0.21	0.00	0.00	0.00	-117.85
Operating Cash Flow to Interest Expense	-14.43	0.03	0.00	0.00	0.00	22.26
Operating Cash Flow Less CapEx to Interest Expense	-53.97	-1.30	0.00	0.00	0.00	-28.65
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.14	0.09	0.15	0.15	0.24	0.24
Accounts Receivable Turnover	4.99	12.31	4.27	4.59	9.98	583.94
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.21	0.58	0.40	0.28	0.52	0.42
Accounts Payable Turnover	3.45	6.79	4.42	4.90	6.45	1.68
Days Sales Outstanding (DSO)	73.09	29.65	85.42	79.59	36.59	0.63
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	105.92	53.73	82.62	74.53	56.62	217.64
Cash Conversion Cycle (CCC)	-32.83	-24.08	2.80	5.07	-20.03	-217.02
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	8.82	-4.62	280	238	670	2,004
Invested Capital Turnover	0.19	3.29	0.38	0.27	0.39	0.37
Increase / (Decrease) in Invested Capital	0.00	-13	285	-42	432	1,318
Enterprise Value (EV)	232	276	-82	189	343	2,924
Market Capitalization	232	232	28	256	753	2,737
Book Value per Share	$1.07	($5.98)	$7.95	$5.55	$16.45	$9.67
Tangible Book Value per Share	$1.00	($6.06)	$7.94	$5.55	$16.45	$9.67
Total Capital	11	34	437	307	1,099	2,780
Total Debt	1.96	84	0.00	1.26	1.44	963
Total Long-Term Debt	0.00	12	0.00	1.26	1.44	963
Net Debt	0.01	45	-110	-68	-410	187
Capital Expenditures (CapEx)	3.91	81	84	84	142	562
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-0.18	-97	28	-3.67	-9.74	-73
Debt-free Net Working Capital (DFNWC)	1.78	-58	138	65	401	492
Net Working Capital (NWC)	-0.19	-130	138	65	401	492
Net Nonoperating Expense (NNE)	0.96	60	420	64	8.92	-71
Net Nonoperating Obligations (NNO)	0.01	45	-157	-68	-427	187
Total Depreciation and Amortization (D&A)	0.76	1.25	7.74	31	51	183
Debt-free, Cash-free Net Working Capital to Revenue	-10.89%	-1,402.73%	53.22%	-5.29%	-5.44%	-14.51%
Debt-free Net Working Capital to Revenue	107.44%	-839.13%	263.77%	94.21%	224.10%	98.16%
Net Working Capital to Revenue	-11.19%	-1,879.65%	263.77%	94.21%	224.10%	98.16%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($10.25)	($3.14)	($0.29)	$0.41
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	54.98M	66.70M	187.86M	214.59M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($10.25)	($3.14)	($0.29)	$0.39
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	54.98M	66.70M	187.86M	223.25M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	54.98M	66.70M	187.86M	271.98M
Normalized Net Operating Profit after Tax (NOPAT)	-1.18	-0.48	0.32	-34	-20	19
Normalized NOPAT Margin	-71.65%	-6.90%	0.62%	-48.98%	-11.23%	3.81%
Pre Tax Income Margin	-129.58%	-855.03%	-798.48%	-244.78%	-14.24%	18.66%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-20.64	0.03	0.00	0.00	0.00	8.79
NOPAT to Interest Expense	-11.96	-0.01	0.00	0.00	0.00	1.46
EBIT Less CapEx to Interest Expense	-60.17	-1.29	0.00	0.00	0.00	-42.12
NOPAT Less CapEx to Interest Expense	-51.50	-1.34	0.00	0.00	0.00	-49.45
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from IREN's official financial filings.

Metric	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	9/30/2024	12/31/2024	3/31/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	375,728,912.00	-	-	332,280,383.00
DEI Adjusted Shares Outstanding	-	-	375,728,912.00	-	-	332,280,383.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-0.04	-	-	-0.75
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	355.41%	59.02%	-0.02%
EBITDA Growth	0.00%	0.00%	0.00%	3,640.10%	-925.09%	-451.88%
EBIT Growth	0.00%	0.00%	0.00%	1,195.98%	-1,029.63%	-2,829.17%
NOPAT Growth	0.00%	0.00%	0.00%	-54.97%	-772.46%	-899.33%
Net Income Growth	0.00%	0.00%	0.00%	843.89%	-610.01%	-1,435.10%
EPS Growth	0.00%	0.00%	0.00%	500.00%	-420.00%	-957.14%
Operating Cash Flow Growth	0.00%	0.00%	0.00%	3,736.09%	33.79%	-19.10%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Revenue Q/Q Growth	0.00%	120.12%	24.69%	0.00%	-23.14%	-21.60%
EBITDA Q/Q Growth	0.00%	184.01%	147.18%	0.00%	-119.58%	-5.42%
EBIT Q/Q Growth	0.00%	61.15%	56.46%	0.00%	-140.04%	-12.89%
NOPAT Q/Q Growth	0.00%	136.76%	68.78%	0.00%	-59.52%	-100.62%
Net Income Q/Q Growth	0.00%	57.67%	26.24%	0.00%	-140.41%	-59.47%
EPS Q/Q Growth	0.00%	62.96%	30.00%	0.00%	-148.15%	-42.31%
Operating Cash Flow Q/Q Growth	0.00%	1,467.97%	73.84%	0.00%	-49.67%	5.12%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-38.55%	-42.59%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	38.05%	40.98%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	39.62%	72.19%	71.03%	66.43%	64.39%	72.42%
EBITDA Margin	-35.55%	13.57%	26.89%	276.33%	-70.40%	-94.66%
Operating Margin	-89.24%	14.90%	20.17%	-31.80%	-63.03%	-161.28%
EBIT Margin	-99.86%	-17.62%	-6.15%	240.31%	-125.20%	-180.29%
Profit (Net Income) Margin	-97.99%	-18.85%	-11.15%	160.06%	-84.14%	-171.16%
Tax Burden Percent	102.54%	115.91%	145.36%	66.85%	45.99%	97.54%
Interest Burden Percent	95.70%	92.25%	124.62%	99.63%	146.14%	97.33%
Effective Tax Rate	0.00%	0.00%	0.00%	33.15%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	-13.76%	-22.75%	-41.30%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	-130.03%	-57.57%	-52.74%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	33.88%	-9.74%	-29.19%
Return on Equity (ROE)	0.00%	0.00%	0.00%	20.12%	-32.49%	-70.49%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	0.00%	0.00%	38.77%	-13.49%	-18.79%
Return on Assets (ROA)	0.00%	0.00%	0.00%	25.83%	-9.07%	-17.84%
Return on Common Equity (ROCE)	0.00%	0.00%	0.00%	20.12%	-32.49%	-70.49%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-33	12	20	-51	-81	-163
NOPAT Margin	-62.47%	10.43%	14.12%	-21.26%	-44.12%	-112.89%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	116.27%	34.81%	11.44%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-1.33%	-1.32%	-2.57%
Cost of Revenue to Revenue	60.38%	27.81%	28.97%	33.57%	35.61%	27.58%
SG&A Expenses to Revenue	56.06%	28.31%	21.38%	57.58%	57.51%	56.49%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	128.86%	57.29%	50.86%	98.22%	127.42%	233.70%
Earnings before Interest and Taxes (EBIT)	-53	-20	-8.91	577	-231	-261
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-19	16	39	664	-130	-137
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	4.44	4.26	4.27
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	4.44	4.45	4.46
Price to Revenue (P/Rev)	0.00	0.00	0.00	18.54	14.14	15.05
Price to Earnings (P/E)	0.00	0.00	0.00	24.39	27.47	72.07
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	4.10%	3.64%	1.39%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	5.65	3.79	3.11
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	17.45	14.70	16.99
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	12.48	13.63	20.08
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	16.52	21.55	48.68
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	30.64	27.13	32.78
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.34	1.47	1.38
Long-Term Debt to Equity	0.00	0.00	0.00	0.34	1.47	1.38
Financial Leverage	0.00	0.00	0.00	-0.26	0.17	0.55
Leverage Ratio	0.00	0.00	0.00	1.48	2.80	2.73
Compound Leverage Factor	0.00	0.00	0.00	1.48	4.09	2.65
Debt to Total Capital	0.00%	0.00%	0.00%	25.11%	59.47%	58.05%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	25.11%	59.47%	58.05%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	0.00%	74.89%	40.53%	41.95%
Debt to EBITDA	0.00	0.00	0.00	1.00	4.51	5.76
Net Debt to EBITDA	0.00	0.00	0.00	-0.78	0.52	2.30
Long-Term Debt to EBITDA	0.00	0.00	0.00	1.00	4.51	5.76
Debt to NOPAT	0.00	0.00	0.00	-110.52	-25.97	-8.98
Net Debt to NOPAT	0.00	0.00	0.00	85.90	-2.99	-3.59
Long-Term Debt to NOPAT	0.00	0.00	0.00	-110.52	-25.97	-8.98
Altman Z-Score	0.00	0.00	0.00	6.30	1.81	1.65
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	0.00	0.00	5.52	4.96	3.72
Quick Ratio	0.00	0.00	0.00	5.24	4.85	3.57
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	0.00	0.00	-2,178	-3,017	-4,303
Operating Cash Flow to CapEx	-3.72%	40.80%	65.20%	78.95%	13.28%	8.13%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	-234.68	-24.64	-289.99
Operating Cash Flow to Interest Expense	-177.95	0.00	22.60	15.34	0.59	5.08
Operating Cash Flow Less CapEx to Interest Expense	-4,965.32	0.00	-12.07	-4.09	-3.82	-57.36
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.16	0.11	0.10
Accounts Receivable Turnover	0.00	0.00	0.00	28.52	15.97	6.60
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.33	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	1.37	0.42	0.52
Days Sales Outstanding (DSO)	0.00	0.00	0.00	12.80	22.85	55.33
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	266.76	871.78	704.56
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	-253.96	-848.92	-649.23
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	0.00	0.00	2,127	2,936	4,139
Invested Capital Turnover	0.00	0.00	0.00	0.65	0.52	0.37
Increase / (Decrease) in Invested Capital	0.00	0.00	0.00	2,127	2,936	4,139
Enterprise Value (EV)	0.00	0.00	0.00	12,015	11,131	12,865
Market Capitalization	1,586	1,845	1,144	12,764	10,706	11,391
Book Value per Share	$0.00	$0.00	$0.00	$10.57	$8.86	$8.02
Tangible Book Value per Share	$0.00	$0.00	$0.00	$10.57	$8.48	$7.69
Total Capital	0.00	0.00	0.00	3,840	6,196	6,352
Total Debt	0.00	0.00	0.00	964	3,685	3,688
Total Long-Term Debt	0.00	0.00	0.00	964	3,685	3,688
Net Debt	0.00	0.00	0.00	-749	425	1,475
Capital Expenditures (CapEx)	105	131	143	180	540	926
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	0.00	0.00	-112	-559	-440
Debt-free Net Working Capital (DFNWC)	0.00	0.00	0.00	920	2,701	1,773
Net Working Capital (NWC)	0.00	0.00	0.00	920	2,701	1,773
Net Nonoperating Expense (NNE)	19	34	37	-436	74	84
Net Nonoperating Obligations (NNO)	0.00	0.00	0.00	-749	425	1,475
Total Depreciation and Amortization (D&A)	34	36	48	87	101	124
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	-16.28%	-73.87%	-58.14%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	0.00%	133.64%	356.79%	234.21%
Net Working Capital to Revenue	0.00%	0.00%	0.00%	133.64%	356.79%	234.21%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	$1.42	($0.52)	($0.74)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	270.70M	298.03M	333.73M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	$1.08	($0.52)	($0.74)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	361.68M	298.03M	333.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	283.47M	332.28M	357.38M
Normalized Net Operating Profit after Tax (NOPAT)	-29	13	19	-40	-59	-65
Normalized NOPAT Margin	-54.36%	10.84%	13.38%	-16.73%	-32.09%	-45.13%
Pre Tax Income Margin	-95.56%	-16.26%	-7.67%	239.41%	-182.97%	-175.48%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	-2,394.91	0.00	-2.16	62.23	-1.89	-17.59
NOPAT to Interest Expense	-1,498.19	0.00	4.96	-5.50	-0.67	-11.02
EBIT Less CapEx to Interest Expense	-7,182.27	0.00	-36.83	42.80	-6.30	-80.03
NOPAT Less CapEx to Interest Expense	-6,285.55	0.00	-29.70	-24.93	-5.07	-73.45
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

IREN Financials - Frequently Asked Questions

According to the most recent income statement we have on file, IREN's fiscal year ends in June. Their fiscal year 2025 ended on June 30, 2025.

IREN's net income appears to be on a downward trend, with a most recent value of $86.94 million in 2025, falling from -$2.14 million in 2020. The previous period was -$28.92 million in 2024. Check out IREN's forecast to explore projected trends and price targets.

IREN's total operating income in 2025 was $17.33 million, based on the following breakdown:

Total Gross Profit: $342.03 million
Total Operating Expenses: $324.70 million

Over the last 5 years, IREN's total revenue changed from $1.65 million in 2020 to $501.02 million in 2025, a change of 30,209.9%.

IREN's total liabilities were at $1.12 billion at the end of 2025, a 1,928.8% increase from 2024, and a 40,656.3% increase since 2020.

In the past 5 years, IREN's cash and equivalents has ranged from $1.96 million in 2020 to $564.53 million in 2025, and is currently $564.53 million as of their latest financial filing in 2025.

Over the last 5 years, IREN's book value per share changed from 1.07 in 2020 to 9.67 in 2025, a change of 807.2%.

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Financial statements for NASDAQ:IREN last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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IREN (IREN) Financials

Financials Breakdown Chart

IREN Financials - Frequently Asked Questions

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IREN (IREN) Financials

Annual Income Statements for IREN

Quarterly Income Statements for IREN

Annual Cash Flow Statements for IREN

Quarterly Cash Flow Statements for IREN

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Quarterly Balance Sheets for IREN

Annual Metrics And Ratios for IREN

Quarterly Metrics And Ratios for IREN

Financials Breakdown Chart

IREN Financials - Frequently Asked Questions

When does IREN's financial year end?

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What is IREN's operating income?

How has IREN's revenue changed over the last 5 years?

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How has IREN's book value per share changed over the last 5 years?

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