Iris Energy Q1 net income swings to profit

Reuters

Nov 07

Iris Energy Q1 net income swings to profit

Overview

Iris Energy Q1 FY26 rev grows 355% yr/yr to $240.3 mln
Net income for Q1 FY26 rises to $384.6 mln from a loss last year
Pretax profit for Q1 FY26 beats analyst expectations

Outlook

Iris Energy targets $3.4 bln AI Cloud ARR by end of 2026
Company expects $1.9 bln ARR from Microsoft contract
New contracts aim for >$500 mln AI Cloud ARR by Q1 2026

Result Drivers

MICROSOFT CONTRACT - Secured $9.7 bln contract with Microsoft, expected to contribute $1.9 bln in ARR
NEW CONTRACTS - Multi-year contracts with Together AI, Fluidstack, and others to drive AI Cloud ARR growth
DATA CENTER EXPANSION - Transition to GPUs and expansion of liquid-cooled data centers for Microsoft

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Pretax Profit	Beat	$575.30 mln	$55.90 mln (8 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"
Wall Street's median 12-month price target for IREN Ltd is $75.00, about 1.9% below its November 5 closing price of $76.41
The stock recently traded at 93 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nGNX5pw2G9

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Iris Energy Q1 net income swings to profit</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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cryptocurrency peer group is \"buy\"</p></li><li><p>Wall Street's median 12-month price target for <a href=\"https://laohu8.com/S/IREN\">IREN Ltd</a> is $75.00, about 1.9% below its November 5 closing price of $76.41</p></li><li><p>The stock recently traded at 93 times the next 12-month earnings vs. a P/E of 15 three months ago</p></li></ul><p>Press Release: <span>ID:nGNX5pw2G9</span></p><p>For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.</p><p>(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1084165304.USD","symbol_name":"FIDELITY WORLD \"A\" (USD) ACC","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20251106:nL1N3WI1HY:1","article_id":"2581010556","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2581010556","pubTimestamp":1762463336,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Iris Energy Q1 net income swings to profitOverviewIris Energy Q1 FY26 rev grows 355% yr/yr to $240.3 mlnNet income for Q1 FY26 rises to $384.6 mln from a loss last yearPretax profit for Q1 FY26 beats ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1084165304.USD":"FIDELITY WORLD \"A\" (USD) ACC","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0171293334.USD":"贝莱德英国基金A2","SG9999015358.SGD":"United Income Focus Trust Dis SGD-H","LU1868837136.USD":"CT (LUX) I AMERICAN \"8\" (USD) ACC","LU0265550946.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A5\" (USD) INC","LU2543165471.USD":"E FUND (HK) GLOBAL QUALITY GROWTH \"A\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1718418525.SGD":"JPMorgan Investment Funds - 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GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","LU0128525929.USD":"TEMPLETON GLOBAL \"A\" (USD) ACC","LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4503":"景林资产持仓","IREN":"IREN Ltd","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","LU0210533765.USD":"JPM GLOBAL GROWTH \"A\" (USD) ACC","LU0456855351.SGD":"JPMorgan Funds - Global Equity A (acc) SGD","LU0314106906.USD":"MANULIFE GF GLOBAL EQUITY \"AA\" (USD) INC","LU1564329032.USD":"BGF DYNAMIC HIGH INCOME \"A2\" (USD) ACC","IE00BDCRKT87.USD":"PINEBRIDGE GLOBAL DYNAMIC ASSET ALLOCATION \"ADC\" (USD) INC","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0077335932.USD":"FIDELITY AMERICAN GROWTH \"A\" INC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU1868836914.USD":"CT (LUX) I AMERICAN \"3\" (USD) ACC"},"translate_title":"Iris Energy第一季度净利润扭亏为盈","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"IREN":0.9},"content_text":"Iris Energy Q1 net income swings to profitOverviewIris Energy Q1 FY26 rev grows 355% yr/yr to $240.3 mlnNet income for Q1 FY26 rises to $384.6 mln from a loss last yearPretax profit for Q1 FY26 beats analyst expectationsOutlookIris Energy targets $3.4 bln AI Cloud ARR by end of 2026Company expects $1.9 bln ARR from Microsoft contractNew contracts aim for >$500 mln AI Cloud ARR by Q1 2026Result DriversMICROSOFT CONTRACT - Secured $9.7 bln contract with Microsoft, expected to contribute $1.9 bln in ARRNEW CONTRACTS - Multi-year contracts with Together AI, Fluidstack, and others to drive AI Cloud ARR growthDATA CENTER EXPANSION - Transition to GPUs and expansion of liquid-cooled data centers for MicrosoftKey DetailsMetricBeat/MissActualConsensus EstimateQ1 Pretax ProfitBeat$575.30 mln$55.90 mln (8 Analysts)Analyst CoverageThe current average analyst rating on the shares is \"buy\" and the breakdown of recommendations is 9 \"strong buy\" or \"buy\", 2 \"hold\" and 2 \"sell\" or \"strong sell\"The average consensus recommendation for the blockchain & cryptocurrency peer group is \"buy\"Wall Street's median 12-month price target for IREN Ltd is $75.00, about 1.9% below its November 5 closing price of $76.41The stock recently traded at 93 times the next 12-month earnings vs. a P/E of 15 three months agoPress Release: ID:nGNX5pw2G9For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}