IREN FY26 net loss widens to US$702.6 million; revenue rises to US$707 million - IREN News | RalliesIREN FY26 net loss widens to US$702.6 million; revenue rises to US$707 million
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IREN• FY26 results
- Iren posted FY26 revenue of US$707 million, up 41.12% from a year earlier.
- Net loss widened to US$702.6 million from net income of US$86.9 million, hit by US$638.8 million in non-cash impairments.
- Adjusted EBITDA (non-GAAP) slipped to US$245.7 million from US$269.7 million.
Deployment update
- Iren said it delivered its Horizon 1 liquid-cooled deployment to Microsoft, with Horizons 2-4 targeting Q4 2026.
AI cloud and contract growth
- AI Cloud Services revenue rose about 8x to US$128.8 million.
- The company signed a new multi-year AI Cloud contract with a leading frontier AI lab.
- 2026 capacity is largely sold out, with US$4 billion in contracted ARR.
- Operating ARR stood at US$1 billion as of Aug. 26.
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