IREN FY26 revenue $707M, net loss $702.6M; AI Cloud revenue up 8x to $128.8M

IREN Ltd

FY26 total revenue $707.0M vs $501.0M prior year; AI Cloud Services revenue $128.8M (up ~8x from $16.4M).
FY26 net loss $702.6M including $638.8M non-cash impairments from decommissioning Bitcoin mining hardware.
Adjusted EBITDA $245.7M vs $269.7M prior year; Q4 adjusted EBITDA $19.2M on platform investment.
Signed multi-year contract with leading frontier AI lab; $4bn contracted ARR for 2026 capacity, $1bn operating ARR.
New $2.8bn GPU financings include $2.4bn led by Blue Owl/PIMCO at 9.0%; Microsoft contract financing at 6.0%.

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