IREN Limited (IREN)
IREN's AI Pivot Looks Real, But the Market Wanted a Faster Payoff After Earnings
IREN TodayIRENIREN$35.42 -5.11 (-12.61%) As of 12:16 PM Eastern52-Week Range$25.31▼$76.87P/E Ratio73.79Price Target$81.57Add to WatchlistIREN Limited NASDAQ: IREN reported fiscal fourth-quarter results Aug. 27, and the headline numbers look rough at first glance. Revenue of $137.2 million was down from $187 million a year ago, alongside a wider net loss.
IREN Just Locked In $4 Billion in ARR — Wall Street Still Sees Only Losses
$4 Billion ARR Target IREN (NASDAQ:IREN) said on its August 27, 2026 fiscal fourth-quarter call that it has locked in $4 billion of contracted annualized recurring revenue tied to its 2026 capacity, a forward-looking target management expects to be operational
IREN: Patience Is Warranted
IREN Limited is undergoing a major transition from Bitcoin mining to AI Cloud compute, with most new capacity coming online by 2028. The company targets $4 billion in contracted ARR by year-end, with potential for $40–100 billion in ARR from its 5+ GW data center pipeline. Recent contracts show rising revenue per MW, with active discussions at ~$25 million/MW and substantial customer prepayments supporting GPU capex.
IREN: Bitcoin-To-Neocloud Transition Stumbles, Eyeing ARR
IREN Limited receives a Hold rating due to questionable valuation, persistent losses, and high short interest amid its transition from Bitcoin mining to AI Cloud Services. Q4 results were mixed: a $684M net loss driven by a $450M impairment, but AI Cloud revenue surged to $128.8M and adjusted EBITDA reached $245.7M for the year. Management targets expanding data center IT capacity to 0.8 GW by 2027, backed by $4B in contracted ARR and major customer agreements, but margin pressure and execution risk remain high.
IREN Q4 Earnings Call Focuses on AI Cloud Scale & Funding
IREN says that FY26 AI cloud capacity is largely sold out, putting delivery, funding and FY27 contracting in focus as ARR is set to top $4B by December.
IREN Stock Dinged by Impairment Charge, Neocloud Transition
IREN Ltd (NASDAQ:IREN) stock is down 8.3% to trade at $37.16 this morning as one of the worst stocks on the Nasdaq this morning.
IREN Falls 6% as a $639M Mining Rig Writedown Overshadows AI Cloud Growth, TeraWulf Eases
The pivot from Bitcoin mining to AI cloud infrastructure got messier this morning as IREN, the sector's most aggressive rebuild, wrote down its old business to make room for the new one.
IREN stock falls as the Nvidia-backed neocloud company hits a key milestone
IREN stock retreated by over 6% in the premarket session as investors reacted to its financial results. It slipped to $38, down sharply from the year-to-date high of $70.60.
IREN Limited (IREN) Q4 2026 Earnings Call Transcript
IREN Limited (IREN) Q4 2026 Earnings Call Transcript
IREN Q4 Earnings Call Highlights
IREN NASDAQ: IREN said it ended fiscal 2026 with $4 billion in contracted annualized recurring revenue, or ARR, for its 2026 capacity, including $1 billion that was operating following Microsoft's acceptance of the Horizon 1 deployment.
IREN Limited (IREN) Reports Q4 Loss, Beats Revenue Estimates
IREN Limited (IREN) came out with a quarterly loss of $0.41 per share versus the Zacks Consensus Estimate of a loss of $0.5. This compares to earnings of $0.08 per share a year ago.
IREN stock jumps ahead of earnings as neoclouds cheer Nvidia's results
IREN stock jumped over 4%, mirroring gains at other neocloud companies like CoreWeave and Nebius following strong Nvidia earnings and guidance. Shares climbed to $43.25, but this rally will be put to the test when the company publishes its own earnings later today.
