)
)
Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
IREN
IREN (IREN) investor relations material
IREN Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2027 earnings summary5 Nov, 2026
Executive summary
Revenue rose 66% QoQ to $228M, led by AI Cloud revenue of $200M; net loss was $263M.
Operating ARR reached $1B; revenue backlog was $20.3B, up 22% QoQ, with approximately two-thirds tied to investment-grade counterparties.
More than $4B of contracted, fully funded ARR is targeted to be operational by January 2027, potentially extending to end-February.
Vertically integrated AI Cloud, data center, and land-and-power operations support demand-led investment, while expansion depends on delivery, customer acceptance, and financing.
Financial highlights
Revenue was $228M, including $200M from AI Cloud and $28M from Bitcoin mining; total segment gross profit was $182M, including $172M from AI Cloud.
Adjusted EBITDA was $66M versus $19M QoQ; net loss was $263M versus $684M, including $148M of depreciation and amortization and $106M of stock-based compensation.
SG&A was $217M, including $106M of stock-based compensation; depreciation and amortization was $148M.
Operating cash inflow was $529M; investing cash outflow was $5.146B, driven by AI hardware and data center investment.
Outlook and guidance
More than $4B of ARR is targeted to be operational by January 31, 2027, potentially extending to end-February; commissioning, testing, and customer acceptance affect revenue timing.
Remaining planned FY27 CapEx was $15B, including $6B still to fund; approximately $9B of cash, committed GPU financing, and prepayments plus targeted financing and other sources are expected to cover it, subject to market conditions.
Targeting 0.8GW of data center capacity by end-2027, with the initial 0.3GW program in final stages; further expansion may require additional CapEx.
The Bitcoin mining transition is targeted to be substantially complete by December 31, 2026; immaterial mining operations are expected to continue through CY2027.
Certain AI Cloud capacity previously targeted for delivery by December 31, 2026 is now expected in the following quarter due to customer design changes, supply timing, and third-party delays.
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.Research faster. Power your platform.
Latest events from IREN
- AGM seeks six approvals as AI infrastructure expansion and long-term executive incentives advance.IREN
Proxy filing - AGM agenda pairs two share repurchase approvals with director, pay and auditor votes.IRENProxy filing
- AI Cloud revenue surged 8x, $4bn ARR contracted, $19bn funding, and FY26 net loss from impairments.IRENQ4 2026
- Founder-CEOs granted major equity awards to secure long-term leadership amid rapid global growth.IRENProxy filing
- AI Cloud pivot accelerates with $3.4B NVIDIA deal and $3.1B ARR contracted amid global expansion.IRENQ3 2026
- $3.6B GPU financing secured, AI Cloud ramps, $3.4B ARR targeted for 2026 amid Q2 net loss.IRENQ2 2026
- Accelerated expansion to 50 exahash, low costs, and AI growth amid lower mining revenue.IRENQ1 2025
- Record Adjusted EBITDA and revenue, with fully funded expansion to 30 EH/s and 510MW.IRENQ4 2024
- Record Q2 profit, surging mining revenue, and major AI/data center expansion underway.IRENQ2 2025
Next IREN earnings date
Q2 202712 Feb, 2027
IREN
Next IREN earnings date
Q2 202712 Feb, 2027
AI chat
Ask anything. Verify everything.
Ask across every event and document from public companies. Each answer links back to the exact line in the transcript, slide or filing it came from.Learn moreFind what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.)
Trust every finding
50m+ first-party documents. Every output traceable to its source.Find what matters
AI across all first-party IR material. Live calls, transcripts, slides, filings.Trust every finding
50m+ first-party documents. Every output traceable to its source.Automations
Zero in on what matters
Define the prompt once. It runs the moment a company publishes or on a schedule you set. Outputs map to the exact signals you choose.Learn more)
Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.)
Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Event-triggered research
Runs when a company publishes new material. Trigger on the first published document for the earliest possible run, or wait for a specific one.Scheduled research
Runs on a recurring cadence you set. Daily, weekly, monthly, or quarterly, for aggregate reads across a period rather than a single event.Live audio & transcripts
Be first
Join any earnings call live in one click, with no manual registration. Follow the transcript as it happens and jump straight to the moments that matter.Learn more)
Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.)
Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Live earnings calls
Join any call in one click. The audio keeps playing while you work elsewhere in Quartr.Live transcripts
Speaker-by-speaker, in real time. Searchable across every live and historical call.Quartr MCP connects your AI environment to 17K+ public companies
Pull live transcripts, filings, and slides into Claude or Codex via MCP. Combine Quartr's global IR data with any other dataset. Run agentic research and monitoring.
Included with Quartr Pro at no extra cost.Learn more
Quartr's AI stands out because it only pulls clean, first-party data from public companies. In investing, that's everything.
Jamie Ross
Investment Manager, GAM Investments
GAM
GAM
Research that used to take hours now takes seconds with Quartr Pro. Tracking shifts in tone or extracting tables, it's as simple as typing a query.
Tom O'Hara
Investment Director
Ciena
Ciena
Before Quartr we spent hours manually compiling insights through the peer earnings cycle. Now, these tasks are done faster, with greater precision.
Gregg Lampf
VP of Investor Relations
Protean
Protean
Being able to ask specific questions across years of transcripts and reports and instantly get verified answers is a game-changer.
Pontus Dackmo
CEO & Investment Manager
)
)
Frequently asked questions
Iris Energy Limited is an Australian company specializing in sustainable Bitcoin mining. The company, incorporated in 2018, owns and operates Bitcoin mining data centers that are powered by 100% renewable energy sources. The company is headquartered in Sydney, New South Wales, Australia, and its shares are listed on the NASDAQ.