IREN Stock: $18.03 Friday After Q1 Results and a 17% Drop…
By Tobi Opeyemi Amure
AI summary of the source article
IREN reported fiscal first-quarter revenue of $228 million, beating analyst estimates, driven by $200 million from its AI Cloud business. The company delayed its more than $4 billion annual revenue run-rate target to January or February 2027.
Key facts
- IREN's fiscal Q1 revenue reached $228 million, topping the $221 million analyst consensus, while net loss narrowed to $263 million.
- AI Cloud revenue surged sequentially to $200 million, while Bitcoin mining revenue fell to $28 million.
- The target to achieve over $4 billion in annual recurring revenue was pushed from year-end 2026 to January or February 2027 due to customer-requested changes.
Source excerpt · FinanceFeeds
Updated 6 November 2026, 07:30 GMT. IREN closed Thursday 5 November at $18.03 , down 16.95 percent from $21.71 (MarketScreener), after Bloomberg reported that Microsoft has tightened oversight of neocloud data center projects at Nebius, IREN and Nscale. After the close, IREN reported fiscal first-quarter revenue of $228 million, up 66 percent from the prior quarter and above the $221 million analy…