IREN stock reports USD 707 million fiscal 2026 revenue

Published on 10/06/2026 at 15:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IREN stock closed at USD 40.48 on October 5, 2026, after fiscal 2026 revenue reached USD 707 million. AI Cloud revenue hit USD 70.5 million in Q4.

IREN, AU0000185993, Illustration mit AI erstellt.

IREN stock (ISIN AU0000185993) closed at USD 40.48 on Nasdaq on October 5, 2026, down 3.07 percent from the prior close. The company generated USD 707 million in fiscal 2026 revenue, up 41 percent from USD 501 million, according to Weiss Ratings.

Revenue grows as mining winds down

The annual increase masks a sharp transition inside the business. IREN reported fourth-quarter fiscal 2026 revenue of USD 137.2 million on August 27, 2026, below the USD 157.14 million consensus estimate, while the quarter produced a USD 684 million net loss, as Yahoo Finance reported on September 19, 2026.

AI Cloud Services supplied USD 70.5 million in the quarter, more than double the USD 33.6 million recorded in the prior quarter. Investing.com also reported that IREN had reached USD 1 billion in operating annual recurring revenue and raised its calendar-year 2026 target to USD 4 billion.

Analysts see a wide valuation gap

JPMorgan upgraded IREN from Underweight to Overweight on September 14, 2026, and lifted its price target from USD 46 to USD 65. As CNBC reported, the bank cited customer momentum, higher contract pricing and IREN's partnership with NVIDIA.

The broader consensus is more optimistic but also highlights the stock's demanding expectations. MarketBeat lists a Moderate Buy rating from 22 analysts, an average target of USD 81.13, a high target of USD 100.00 and a low target of USD 40.00. The average target lies 100.4 percent above the October 5 closing price.

Funding and execution remain central to that valuation. IREN's fiscal 2027 capital spending plan is USD 25 billion to USD 30 billion, while its AI infrastructure expansion depends on delivering additional capacity and converting contracted annual recurring revenue into recognized revenue.

IREN stock stays below its yearly high

IREN stock closed at USD 40.48 on Nasdaq on October 5, 2026. The 52-week range was USD 28.93 to USD 76.87, and market capitalization stood at USD 16.0 billion on the same date.