IREN shares jumped 20% on Friday to close at $21.64, after the Bitcoin mining and AI cloud firm cut its quarterly net loss by 61.5%. The net loss for the first quarter of fiscal 2027 narrowed to $263 million from $684 million in the previous quarter. A year earlier, IREN reported net income of $384.6 million. Revenue rose 66% quarter on quarter to $228 million, but fell 5% from $240.3 million a year earlier as the company shifted from Bitcoin mining to AI cloud services. AI cloud brought in $200 million and Bitcoin mining $28 million. A year ago, mining earned $232.9 million and AI cloud just $7.3 million. IREN also plans an AI data centre in Badajoz, Spain, with about 300MW of capacity and initial operations targeted for 2028.

IREN (NASDAQ:IREN) posts quarterly earnings results, beats expectations by $0.06 EPS. IREN (NASDAQ:IREN - Get Free Report) posted its earnings results on Thursday. The company reported ($0.66) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.06, FiscalAI reports. IREN had a negative net margin of 99.38% and a negative return on equity of 15.46%. The company had revenue of $228.00 million during the quarter, compared to the consensus estimate of $228.26 million. Here are the key takeaways from IREN's conference call: * AI Cloud growth accelerated: Revenue rose 183% quarter over quarter to $200 million, operating ARR doubled to $1 billion, and adjusted EBITDA margin increased to 29%. IREN nevertheless reported a $263 million net loss, while operating expenses rose as it expanded staffing and operations. * Contract demand and pricing remain strong: Backlog exceeded $20 billion, with two-thirds tied to investment-grade customers. Recent deals included a five-year contract at about $22 million per megawatt with a customer prepayment covering roughly 90% of GPU CapEx, and a shorter-term contract above $40 million per megawatt. * More than $4 billion of targeted operating ARR is delayed: Customer-requested network changes and supplier timing pushed the expected ramp from year-end to January, with completion potentially slipping to late February. The company said the required network upgrade adds immaterial CapEx, but timing depends partly on supplier deliveries. * Growth spending is being paced amid tighter capital markets: IREN plans about $15 billion of CapEx for the remainder of the fiscal year, leaving roughly $6 billion beyond its $9 billion of cash and committed funding to finance. Management cited potential funding sources of $12 billion-$15 billion, while saying deployment pace will depend on financing conditions, contracts, and returns. IREN stock performance. Shares of IREN traded up $3.61 during mid-day trading on Friday, hitting $21.64. 112,473,833 shares of the company traded hands, compared to its average volume of 56,795,948. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.55 and a current ratio of 3.55. The stock has a 50-day moving average price of $35.87 and a two-hundred day moving average price of $43.60. IREN has a 1 year low of $17.16 and a 1 year high of $70.71. The stock has a market cap of $8.53 billion, a price-to-earnings ratio of -5.30 and a beta of 4.33. Key headlines impacting IREN. Here are the key news stories impacting IREN this week: * Fiscal Q1 2027 AI cloud revenue nearly tripled sequentially to about $200 million. Total revenue rose 66% to $228 million, and the adjusted loss per share was narrower than analysts expected - supporting the earnings-driven rebound. * The revenue backlog topped $20 billion, with roughly two-thirds attributed to investment-grade customers. A new five-year AI cloud agreement includes customer prepayment of 90% of GPU costs, which may help fund expansion. * HC Wainwright and Cantor Fitzgerald cut their price targets to $56 and $47, respectively, while keeping Buy and Overweight ratings. The revised targets still imply substantial upside from the quoted share price, but the reductions reflect more cautious expectations. * IREN pushed its $4 billion annualized-revenue target into early 2027 after deployment delays, including at projects tied to Microsoft. These setbacks raise execution concerns and postpone expected growth. * Despite AI growth, IREN reported a $263 million net loss; Bitcoin mining revenue also fell sharply. Rising net debt and substantial remaining capital needs - including about $6 billion yet to be financed - could increase balance-sheet and dilution risks. Wall street analyst weigh in. Several equities research analysts have recently issued reports on the company. Compass Point reaffirmed a "buy" rating and set a $85.00 target price on shares of IREN in a research report on Friday, August 28th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $79.00 price target on shares of IREN in a report on Friday, August 28th. B. Riley Financial lowered their target price on shares of IREN from $91.00 to $64.00 and set a "buy" rating on the stock in a research note on Friday, October 30th. Cantor Fitzgerald dropped their price target on IREN from $99.00 to $47.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Needham & Company LLC reiterated a "hold" rating on shares of IREN in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.54. IREN company profile. IREN Limited, formerly known as Iris Energy Limited, is a data center infrastructure company focused on bitcoin mining and high-performance computing. The company develops and operates data centers designed to support energy-intensive computing applications, including bitcoin mining and artificial intelligence (AI) cloud services. IREN's operations are supported by company-owned electrical infrastructure, data centers and computing hardware. Its bitcoin mining business uses specialized application-specific integrated circuit (ASIC) machines, while its AI cloud offering is designed to provide access to advanced computing resources for AI development and other high-performance computing workloads. Founded in 2018 and headquartered in Sydney, Australia, IREN has developed data center operations in North America, including facilities in British Columbia, Canada, and Texas. Receive News & Ratings for IREN Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IREN and related companies with MarketBeat.com's FREE daily email newsletter.

IREN, the AI cloud operator, has recontracted older Nvidia H100 chips at "double the original contract price," co-chief executive officer Daniel Roberts said on its November 5 earnings call. The chips are about three years old. The deal suggests used GPUs keep their value, which supports IREN's revenue and Nvidia's installed base. Capital spending rose to $4.82 billion in the September 2026 quarter, from $281 million a year earlier. Short seller Jim Chanos says IREN's capital base is too big for its revenue. A customer on a new five-year contract is prepaying about 90% of the GPU capex. Roberts now expects contracted annualised recurring revenue of more than $4 billion by January, perhaps February.