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AI brief of an SEC Form 8-K · IREN Ltd (IREN)

IREN FY26 Revenue Rises to $707.0 Million; Net Loss of $702.6 Million

Mixed Impact 4 of 5 earnings Written later

IREN reported fiscal 2026 revenue of $707.0 million, up from $501.0 million a year earlier, with AI Cloud Services revenue rising to $128.8 million from $16.4 million. The company swung to a net loss of $702.6 million from net income of $86.9 million, largely due to non-cash asset impairments tied to converting Bitcoin mining sites for AI Cloud use. The filing also announced a new multi-year AI Cloud contract with a leading frontier AI lab, which matters to shareholders because it signals demand for the company's capacity, though the stated $4 billion contracted ARR target is an internal operating metric rather than GAAP revenue.

Key points

  • FY26 total revenue was $707.0 million versus $501.0 million in FY25; AI Cloud Services revenue was $128.8 million versus $16.4 million.
  • FY26 net loss was $702.6 million versus net income of $86.9 million in FY25; impairments were $638.8 million for the year.
  • Q4 FY26 net loss was $684.0 million, including $450.4 million of impairments; Q4 adjusted EBITDA was $19.2 million versus $59.5 million in the prior quarter.
  • As of August 26, 2026, operating ARR was $1 billion, with $4 billion of contracted ARR for 2026 capacity.

The filing

CompanyIREN Ltd (IREN)
Form8-K, current report
Filed with the SECAug 27, 2026, 4:13 PM ET
Accession number0001878848-26-000051

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 27, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.