IREN|Analyst Targets
IREN|Company Info
IREN|Insider Trading
IREN|Fundamentals
IREN|Earnings Snapshot
EPS
| Qtr | Est | Actual | +/− |
|---|---|---|---|
| Q2'26 | $-0.07 | - | - |
| Q3'25 | $0.14 | - | - |
| Q2'25 | $0.22 | $0.21 | -2.5% |
| Q1'25 | $0.14 | $0.11 | -25.5% |
| Q4'24 | $0.06 | $0.09 | +35.7% |
Revenue
| Qtr | Est | Actual | +/− |
|---|---|---|---|
| Q2'26 | $235M | - | - |
| Q3'25 | - | $244M | - |
| Q2'25 | - | $189M | - |
| Q1'25 | - | $148M | - |
| Q4'24 | - | $120M | - |
IREN|Monthly Returns
Market Data
IREN Stock Snapshot
- Market cap
- 13.70B
- Day range
- $30.27 – $36.00
- News sentiment
- 52/100 · Neutral
- Analyst target
- $78.14 (+157.0%)
- Consensus
- Buy · 24 analysts
Momentum has rolled over on Iris Energy Limited, which is what drives the bearish read. Institutional coverage is thorough here, so shifts in analyst expectations show up in price quickly.
Behaviour On Record
What IREN's own history says about today's numbers
- Realized volatility (21d)
- 55.5% 0th pct
- Below its peak
- -55.7%
- vs 200-day average
- -24.2%
- Up days (1y)
- 45%
Iris Energy Limited is currently running 55.5% annualised volatility over the last 21 sessions. Measured against IREN's own 5 years of daily returns rather than a market-wide average, that is the 0th percentile — unusually subdued by its own history, against a typical reading of 109.3%. The distinction matters because a number that looks calm for one stock is turbulent for another, and the absolute figure on its own tells you neither.
IREN is trading -55.7% below its running peak. Across 4 full years on file, its median worst-drawdown-in-a-year was -62.7%, and the deepest was -94.0% in 2022. The current pullback is therefore shallower than what this stock gives back in a typical year, which is context worth having before treating it as a dislocation.
Price sits -24.2% from its 200-day moving average. Against every other day in its history, that gap ranks at the 17th percentile — a narrower gap than it typically runs. Over the past year IREN closed higher on 45% of sessions, and it is currently 1 session into a falling streak.
On October specifically: over 5 years of records, IREN finished the month higher 2 of 5 times, with a median return of -12.5% and an average of +1.0%. Its strongest month historically has been May at +21.2% on average, its weakest December at -10.3%. Seasonality is a weak signal on its own — a decade is a small sample and regimes change — but it is a real distribution rather than a rule of thumb.
Overnight risk is measurable too: IREN has opened more than 2% away from the prior close in 399 of 1,231 sessions (32.4% of the time), with the largest gaps running +14.3% and -10.7%. For anyone holding through an event, that rate is a better guide to overnight exposure than the intraday range.
All figures computed from 1,232 daily closes between 2021-11-17 and 2026-10-14, split-adjusted, recomputed daily. Percentiles are against IREN's own 5-year history, not a peer group or index.
Sector Rotation
Is money rotating into or out of IREN's sector?
Iris Energy Limited sits in the Energy sector, currently ranked 4th of 12 GICS sectors by relative-strength rotation score (leading).
- Sector rank
- #4 of 12
- Sector state
- Leading
- Sector rotation score
- 100
Analyst Rating Changes
Are analysts turning bullish or bearish on IREN?
B. Riley Securities most recently reiterated its rating on Iris Energy Limited to Buy on Sep 29, 2026 with a price target of $91 (from $96). Over the last 90 days, coverage has run 1 upgrade against 0 downgrades, a net bullish lean.
- Latest action
- B. Riley Securities — Buy
- 90-day upgrades
- 1
- 90-day downgrades
- 0
- Net rating momentum
- +1
Earnings Release, Scored
What did Iris Energy Limited's latest earnings release say?
Most important lines
- 1
2 • Executing global expansion across >5GW data center pipeline o Targeting cumulative delivery of approximately 2026: 0.3GW (IT) 2027: 0.8GW (IT) o In addition, new liquid-cooled deployments planned at Mackenzie, Canal Flats and Prince George during 2027 to optimize use of power headroom at existing sites o Development progressing at Sweetwater (Texas), Kiowa (Oklahoma), Bundey (Australia) and Badajoz (Spain) o Acquisition of Mirantis and Nostrum completed, strengthening software and services capabilities and expanding platform to Europe o Headcount nearly tripled in FY26, alongside five recent C-suite appointments • Capital-efficient GPU financing o $3.6bn investment grade GPU financing for Microsoft contract at 6.0%5 Together with prepayments, funds 96% of associated GPU capex o New $2.8bn GPU financings supporting non-investment grade customer deployments Includes $2.4bn financing led by Blue Owl and Pacific Investment Management Company LLC, as adviser to certain investors, at a 9.0% fixed rate for Mackenzie air- cooled expansion, which funds 90% of associated GPU capex Together with customer prepayments, provides funding in excess of GPU capex, supporting other data center capex requirements FY26 and Q4 FY26 Financial Results US$m Quarter ended Quarter ended Year ended Year ended June 30, 2026 March 31, 2026 June 30, 2026 June 30, 2025 Revenue AI Cloud Services Revenue 70.5 33.6 128.8 16.4 Bitcoin Mining Revenue 66.7 111.2 578.2 484.6 Total Revenue 137.2 144.8 707.0 501.0 Net income (loss) (684.0) (247.8) (702.6) 86.9 Adjusted EBITDA6 19.2 59.5 245.7 269.7 • FY26 and Q4 FY26 results reflected ongoing transition from Bitcoin mining to AI Cloud Services • AI Cloud Services revenue increased ~8x to $128.8m in FY26 (vs FY25 $16.4m) • Net income (loss) in FY26 and Q4 FY26 was impacted by non-cash impairments of $(638.8)m and $(450.4)m respectively, primarily related to the decommissioning of Bitcoin mining hardware as sites are converted to support AI Cloud growth • Adjusted EBITDA decreased in Q4 FY26 reflecting increased employee related costs and broader platform investment ahead of AI Cloud Services revenue ramp • Well capitalized with existing cash and committed GPU financing and prepayments of $14bn
New this quarter - 2
Highlights • Growing platform and diversified customer base o Signed a new multi-year AI Cloud contract with a leading frontier AI lab o Other recent signings including Cohere, Prometheus, Perplexity, Figure AI, Fal AI and Higgsfield AI o Contract renewals and expansions with existing customers o Continuing to deliberately allocate capacity to a diversified customer base across hyperscalers, enterprises, AI developers and frontier labs • Annualized run-rate revenue (ARR) o Current: $4bn contracted ARR for 2026 capacity; $1bn ARR operating today1,2 o 2026: capacity largely sold out o 2027: late-stage discussions with a range of new customers over a significant portion of capacity o 2028: customer and financing discussions progressing in parallel • Contracted pricing increasing, driving more value per MW o Recent 3-year contracts >$20m revenue per MW (IT), representing a ~2 year payback3 o Active discussions at ~$25m per MW (IT) o Recent customer prepayments represent 45-55% of GPU capex4 o Shorter duration contracts and Mirantis managed services provide further revenue upside • Horizon 1 delivered to Microsoft o First of four 50MW (IT) liquid-cooled deployments at Childress o NVIDIA Exemplar Cloud status achieved on GB300 NVL72 o Horizon 2 commissioning underway and Horizon 3-4 in late-stage construction, targeting delivery in Q4 2026
New this quarter - 3
9 Consolidated Statement of Operations US$m Quarter ended Quarter ended June 30, 2026 March 31, 2026 Revenue AI Cloud Services Revenue 70.5 33.6 Bitcoin Mining Revenue 66.7 111.2 Total Revenue 137.2 144.8 Cost of revenue (exclusive of depreciation and amortization) AI Cloud (9.2) (4.6) Bitcoin Mining (24.1) (35.3) Total cost of revenue (33.3) (39.9) Operating (expenses) income Selling, general and administrative expenses (128.3) (81.8) Depreciation and amortization (112.1) (121.2) Impairment of assets (450.4) (140.4) Gain (loss) on disposal of property, plant and equipment (25.1) 0.2 Other operating expenses (9.6) (0.0) Other operating income 1.2 4.8 Total operating (expenses) income (724.3) (338.4) Operating (loss) income (620.4) (233.5) Other (expense) income: Finance expense (24.5) (14.8) Interest income 35.9 21.8 Increase (decrease) in fair value of assets held for sale (102.1) (2.0) Realized gain (loss) on financial instruments (0.6) - Unrealized gain (loss) on financial instruments 24.6 (23.7) Foreign exchange gain (loss) (4.9) (1.9) Other non-operating income (0.0) 0.1 Total other (expense) income (71.6) (20.6) Income (loss) before taxes (692.0) (254.1) Income tax (expense) benefit 8.0 6.3 Net income (loss) (684.0) (247.8)
New this quarter
Peers & ETF holders
IREN peers & ETF holders
Capital MarketsMarket cap · today
Top ETF holdersWeight
News Sentiment Analysis
Sentiment gathered from recent headlines
Recent News Coverage
Most recent articles, ranked by recency (click to expand).
Technical Analysis
Real-time indicators across multiple timeframes
| Member | Chamber | State | Type | Amount | Traded | Filed |
|---|---|---|---|---|---|---|
| Cleo Fields | House | LA06 | ▲ Buy | $50K - $100K | 2026-01-20 | 2026-02-03 |
| Cleo Fields | House | LA06 | ▲ Buy | $1K - $15K | 2025-12-09 | 2025-12-17 |
| Cleo Fields | House | LA06 | ▲ Buy | $1K - $15K | 2025-10-10 | 2025-10-30 |