IREN

Q4 FY2026 EarningsFY26 Q4 results delivered a slight beat on the top line with revenue of $137.2M vs. $135.6M expected, driven by a rapid shift toward AI Cloud Services. However, the bottom line was significantly impacted by a massive $450.4M non-cash impairment related to Bitcoin mining hardware decommissioning, leading to a GAAP EPS of -$4.22 (estimated based on net loss), far below the consensus mean of -$0.61. Despite the net loss, the company reported strong leading indicators including a $4B contracted ARR for 2026 and robust liquidity with $7.6B in cash and restricted cash.