IREN Q Results: Loss Beat, Revenue Miss, AI Revenue Share Rises
IREN posts narrower quarterly loss and $137.2M revenue with AI segment at 51.4% of total; $4B 2026 ARR contracted and $25B-$30B capex guided.
IREN reported a quarterly loss of $0.41 per share, narrower than the $0.50 loss analysts had projected. Revenue totaled $137.2M, below the $157.14M consensus and down 5% from the prior quarter.
Segment shift and guidance
AI cloud revenue reached $70.5M, up 110% sequentially and representing 51.4% of total revenue. Bitcoin mining revenue declined to $66.7M from $111.2M in the previous quarter. The company stated it is retiring mining fleets while pivoting to AI data centers. Management confirmed $4B in 2026 ARR is fully contracted, ended the quarter with $7.6B cash on hand, and guided capex of $25B-$30B for the year. The stock fell 6% on the release.