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Profile & Fundamentals

IREN Profile & Fundamentals

Name: IREN financial chart data preview
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Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

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Company and Market Context

Company Profile & Ownership

IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling. The company also owns and operates compute layers, such as GPUs, CPUs, storage, servers, and networking deployed within that data center infrastructure; and software layers comprising managed services and enterprise support that enables customers to deploy, operate, and manage AI workloads. In addition, it is involved in Bitcoin mining. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024. IREN Limited was incorporated in 2018 and is based in Sydney, Australia.

Company profile record

IREN Ltd

Common Stock · Financials · Asset Management & Custody Banks

Official website

Company

Company / asset: IREN Ltd
Security type: Common Stock
Sector: Financials
Industry: Asset Management & Custody Banks
HQ: 🇦🇺 Australia
Head office: 55 Market Street, Sydney, NSW, Australia, 2000

Leadership & scale

Chief executive: Mr. William Roberts
CEO year born: 1990
Full-time employees: 685
Fiscal year end: June
IPO date: 2021-11-17

Fundamentals snapshot

Updated 2026-09-13

Market Cap: USD 16.9B
P/E: --
Revenue (Q2 26): USD 137.2M
Profit (Q2 26): USD -684.0M
Dividend Yield: --
Revenue (FY 26): USD 707.0M
Shares in public float: 346.2M
Insider ownership: 3.26%

Reporting & identifiers

Symbol: IREN.NASDAQ
Listing: 🇺🇸 United States | Dividend Tax: 30%
Ticker Currency: USD
Income Statement Currency: USD
Balance Sheet Currency: USD
Cash Flow Currency: USD
EPS Currency: USD
Contract Type: SPOT
ISIN: AU0000185993
Asset ID: equity_4a899291-122f-5088-bcc0-62adff9287ab

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Top holders

Defiance ETFs, LLC12,671,028 shares · 3.22% · Reported 2026-03-31
Situational Awareness Partners LP11,698,835 shares · 2.97% · Reported 2026-03-31
Citigroup Inc10,903,551 shares · 2.77% · Reported 2026-03-31
Situational Awareness LP9,474,099 shares · 2.40% · Reported 2026-06-30
The Goldman Sachs Group Inc5,570,213 shares · 1.41% · Reported 2026-03-31
NORGES BANK5,197,774 shares · 1.32% · Reported 2026-06-30
Value Aligned Research Advisors LLC4,767,607 shares · 1.21% · Reported 2026-03-31

View more holders (8)

BlackRock Inc4,457,120 shares · 1.13% · Reported 2026-03-31
BIT Global Technology Leaders R-I4,227,797 shares · 1.07% · Reported 2026-08-31
Marex Group Ltd3,918,746 shares · 0.99% · Reported 2026-03-31
Morgan Stanley - Brokerage Accounts3,745,218 shares · 0.95% · Reported 2026-03-31
UBS Group AG3,685,114 shares · 0.94% · Reported 2026-03-31
CANTOR FITZGERALD, L. P.2,937,510 shares · 0.75% · Reported 2026-03-31
Jane Street Group LLC2,854,963 shares · 0.72% · Reported 2026-03-31
State Street Corp2,618,671 shares · 0.66% · Reported 2026-03-31

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The reports agree that the company is experiencing explosive top-line revenue growth, driven by the rapid expansion of its high-performance computing and artificial intelligence cloud services. However, there is a stark contrast between this revenue growth and the company's actual profitability. Recent quarters have shown deep net losses and heavily negative free cash flow. This financial strain is caused by massive, non-cash write-downs as the company retires its older Bitcoin mining equipment to make room for advanced computer chips. While some analysts believe these losses are temporary accounting adjustments that will quickly reverse once multi-billion-dollar contracts start generating steady cash, others warn that the heavy costs of constantly buying and replacing expensive hardware will keep true profits out of reach for the foreseeable future. Investors must weigh this near-term cash burn against the long-term potential for high-margin recurring revenues.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

The published data is insufficient to draw this chart.

Profitability & Margins

AI Review

The company boasts exceptionally strong gross margins, reflecting the highly efficient nature of its low-cost, renewable energy power contracts. This indicates that the core business of converting electricity into computing power is highly profitable. However, these strong are currently being completely wiped out at the operating and net income levels. The reports agree that this margin squeeze is driven by the brutal depreciation schedules of high-end computer chips, which lose value rapidly. The main point of contention is whether the company can scale its operations fast enough for high-margin cloud revenues to outrun this heavy depreciation drag. Optimists expect margins to expand dramatically as long-term contracts activate, while skeptics argue that the constant need to replace aging hardware will permanently compress profit margins, making the current high valuation multiples unsustainable.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2019-06-30	732.89	-1,762,720.22	-112,139.52	Not reported	-10,700.76	-15,301.04	-240,517
2020-06-30	1,040,894.76	-3,677,710.68	-1,025,573.91	57.68	-77.83	-98.53	-353.32
2021-06-30	4,447,284.75	-3,098,841.75	-34,005,004.5	71.88	-3.99	-764.62	-69.68
2022-06-30	40,735,530	-188,156,100	-289,641,300	87.38	0.78	-711.03	-461.9
2023-06-30	50,288,994	-73,272,654	-114,436,782	27.97	-64.31	-227.56	-145.7
2024-06-30	124,857,064	-284,937,731	-19,289,640	43.87	-14.57	-15.45	-228.21
2025-06-30	501,023,000	-1,126,741,000	86,941,000	68.27	4.42	17.35	-224.89
2026-06-30	707,000,000	-2,232,669,000	-702,600,000	68.93	-148.05	-99.38	-315.79

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-06-30	151.61	Trailing four quarters

Shares outstanding — chart values
Reporting date	Shares outstanding
2019-01-01	16,296,600
2020-01-01	56,717,500
2021-01-01	55,036,100
2022-01-01	53,028,900
2023-01-01	72,665,000
2024-01-01	210,470,200
2025-01-01	298,027,400
2026-01-01	362,034,300

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