IREN reports Q2 FY26 revenue $184.7M, net loss $155.4M; secures $3.6B GPU financing for Microsoft contract

IREN Ltd

2026-Q2 EPS reported $0.68 revenue$424,987,000

Revenue $184.7M (down from $240.3M Q1); net loss $(155.4)M vs net income $384.6M in Q1.
Adj. EBITDA $75.3M (down from $91.7M Q1); EBITDA $(243.9M) impacted by unrealized losses and debt conversion expense.
Secured $3.6B GPU financing at <6% p.a. for Microsoft contract; together with $1.9B prepayment covers 95% of GPU capex.
New 1.6GW data center campus in Oklahoma; total secured grid-connected power >4.5GW.
Targeted 140k GPU expansion on track to deliver $3.4B ARR by end of CY26.

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