Quarterly ResultMay 8, 2026, 06:13 AM
IREN Q3 Net Loss $(247.8)M; AI Cloud Revenue +839%
AI Summary
IREN reported a net loss of $(247.8) million for the three months ended March 31, 2026, a significant increase from $(16.1) million in the prior year. Total revenue remained flat at $144.8 million, with Bitcoin mining revenue decreasing by 21.3% to $111.2 million, while AI Cloud Services revenue surged by 839.2% to $33.6 million. For the nine-month period, the company's net loss decreased to $(18.6) million from $(89.7) million, driven by a substantial unrealized gain on financial instruments and increased operating cash flow.
Key Highlights
- Net loss for Q3 2026 was $(247.8) million, compared to $(16.1) million in Q3 2025.
- Total revenue for Q3 2026 was $144.8 million, flat compared to Q3 2025.
- AI Cloud Services revenue for Q3 2026 increased 839.2% to $33.6 million.
- Bitcoin mining revenue for Q3 2026 decreased 21.3% to $111.2 million.
- Net cash from operating activities for the nine months ended March 31, 2026, was $289.3 million, up 102.7%.
- Cash and cash equivalents increased 292.1% to $2.21 billion as of March 31, 2026.
- Total assets grew 147.1% to $7.26 billion, while total liabilities rose 309.7% to $4.60 billion.
- Nine-month net loss improved to $(18.6) million from $(89.7) million year-over-year.