Results for the September quarter
Nasdaq-listed IREN reported $200 million in AI cloud revenue for the three months ended September 30, 2026, up from $71 million in the preceding quarter. Its November 5 release reports total revenue of $228 million and a $263 million net loss. All figures are in US dollars.
The target moves into next year
IREN now targets January 2027 for more than $4 billion in annualized run-rate revenue, previously expected by year-end 2026. It says a customer-requested design change and supplier timing caused the shift, which could extend into February.
Read the metric carefully
Annualized run-rate revenue estimates a year of revenue from commissioned, contracted capacity. It is an operating metric, not US GAAP revenue. Actual recognized revenue may be materially lower and depends on commissioning, testing and customer acceptance. The linked report includes the assumptions.
