secwatch.observer — SEC 8-K summary
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Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2025-11-06T23:59:59+00:00
Accession:  0001878848-25-000079
Event type: earnings
Sentiment:  positive
Materiality: 0.90
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000187884825000079/0001878848-25-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000187884825000079/iren-20251106.htm
  HTML page:      https://secwatch.observer/filing/0001878848-25-000079

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer