---
schema_version: "secwatch.filing_event.v1"
accession: "0001878848-25-000079"
form_type: "8-K"
ticker: "IREN"
cik: "0001878848"
company_name: "IREN Ltd"
filed_at: "2025-11-06T23:59:59+00:00"
generated_at: "2026-05-17T00:01:43.576423+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# IREN Q1 revenue $240.3M (+355% YoY); secures $9.7B Microsoft AI cloud contract targeting $3.4B ARR by 2026

## Summary
- Revenue $240.3M (+355% YoY); net income $384.6M (vs. loss $(51.7)M prior year).
- Adj. EBITDA $91.7M (+3,568% YoY); EBITDA $662.7M includes unrealized gains.
- Secured $9.7B contract with Microsoft: 5-year term, 20% prepayment, $1.9B expected ARR contribution.
- Targeting $3.4B AI Cloud ARR by end of 2026 with expansion to 140k GPUs.
- Cash $1.8B as of Oct 31, 2025; $1.0B zero-coupon convertible notes issued Oct 14.

## SEC filing metadata
- accession: 0001878848-25-000079
- form_type: 8-K
- ticker: IREN
- cik: 0001878848
- company_name: IREN Ltd
- filed_at: 2025-11-06T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878848/000187884825000079/0001878848-25-000079-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878848/000187884825000079/iren-20251106.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001878848-25-000079
- JSON: https://secwatch.observer/filing/0001878848-25-000079.json
- Plain text: https://secwatch.observer/filing/0001878848-25-000079.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.