Income StatementBalance SheetCash FlowSegments
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Iris Energy Cash Flow Statement

Operating, investing, and financing cash movements

Iris Energy generated $392.5M in operating cash flow over the trailing twelve months. After $1.9B in capital expenditures, free cash flow was -$1.5B. Free cash flow decreased 4.4% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$392.5MNet Cash From Investing (TTM)-$3.0BNet Cash From Financing (TTM)$4.6BCapital Expenditures (TTM)$1.9BDepreciation And Amortization Cf (TTM)$369.5MNet Change In Cash (TTM)$2.8B
Latest FilingQ1 2026
Report Date2026-05-08
Market Cap$22.9B
P/E Ratio144.83
ROE7.88%

Operating

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Other non-cash income (expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Gain on sale of property, plant, and equipment-$681.0K$1.5M$2.3M-$13.0K$7.0K$234.0K
Amortization of debt issuance costs$151.0K$551.0K$698.0K$1.3M$2.0M$2.7M
Other non-cash income (expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Change in accounts payable——$6.5M$3.5M-$12.5M$15.9M
Change in deferred revenue-$59.0K-$619.0K-$787.0K$22.5M$23.3M$73.8M
Change in income taxes payable/receivable$1.4M$4.0M—$187.9M——
Change in operating lease liabilities-$631.0K$94.0K-$527.0K-$44.0K-$85.0K$1.5M
Change in other assets$22.2M——$12.6M$1.1M$18.3M
Change in other liabilities$2.3M$5.3M—$48.7M—$9.2M
Other working capital changes$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Change in receivables-$14.0M$11.1M$1.4M$13.1M$11.9M$67.4M
Depreciation and amortization$36.1M$47.3M$63.8M$85.2M$99.2M$121.2M
Net gains (losses) on investments-$32.3M-$37.9M$147.7M$665.0M-$107.4M-$23.7M
Gain (loss) on sale of assets-$681.0K$1.5M$2.3M-$13.0K$7.0K$234.0K
Unrealized Foreign Currency Transaction Gain (Loss)-$4.6M-$3.1M—-$2.2M-$5.5M—
Impairment charges$0.0$0.0—$0.0$31.8M$140.4M
Change in financial instruments used in operating activities———$0.0$0.0$0.0
Unrealized Foreign Currency Transaction Gain (Loss)-$4.6M-$3.1M—-$2.2M-$5.5M—
Foreign Currency Transaction Gain (Loss)-$4.6M-$3.1M—-$2.2M-$5.5M—
Other Non-Cash Income (Expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Other Non-cash Income (Expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Other Non-cash Income (Expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Net cash from operating activities$53.6M$93.1M$103.1M$142.4M$71.7M$75.3M
Net income-$21.9M-$16.1M$176.7M$384.6M-$155.4M-$247.8M
Other non-cash income (expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Amortization expense related to capitalized debt issuance costs$151.0K$551.0K$698.0K$1.3M$2.0M$2.7M
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax-$4.6M-$3.1M—-$2.2M-$5.5M—
Gain (Loss) on Disposition of Stock in Subsidiary$0.0$0.0$0.0———
Impairment charges for facilities consolidation$0.0$0.0$281.0K$16.3M$31.8M$140.4M
Increase (Decrease) in Accounts and Other Receivables-$14.0M$11.1M$1.4M$13.1M$11.9M$67.4M
Income and other taxes$1.4M$4.0M—$187.9M——
Operating lease liabilities-$631.0K$94.0K-$527.0K-$44.0K-$85.0K$1.5M
Increase (Decrease) in Other Operating Assets$35.0K——-$169.0K-$35.0K$4.7M
Increase (Decrease) in Prepaid Expense and Other Assets$22.2M——$12.6M$1.1M$18.3M
Debt conversion inducement expense$0.0$0.0——$111.8M$0.0
Other Noncash Income (Expense)$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Net realized gains (losses)$0.0$0.0$0.0-$5.8M-$2.9M$0.0
Other Non-cash Income and Expense$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Unrealized Foreign Currency Transaction Gain (Loss)-$4.6M-$3.1M—-$2.2M-$5.5M—
Other Non-Cash Adjustments$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Other Non-Cash Income and Expense$0.0-$1.5M-$8.6M$0.0$0.0$0.0
Unrealized Foreign Currency Gain (Loss)-$4.6M-$3.1M—-$2.2M-$5.5M—
Stock-based compensation$8.0M$7.8M$18.7M$72.4M$58.2M$31.5M
Unrealized Foreign Currency Gain (Loss)-$4.6M-$3.1M—-$2.2M-$5.5M—

Supplemental

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Capital expenditures incurred but not yet paid—$54.3M————
ROU assets obtained - operating leases-$954.0K$0.0$1.7M$0.0$155.5M$136.0M
Income taxes paid$1.4M$1.0M-$2.4M$0.0$516.0K$87.0K
Interest paid$58.0K$22.0K$7.5M$0.0$16.9M$4.3M
Fair Value of Assets Acquired$12.3M$12.3M$12.3M———
Capital expenditures incurred but not yet paid—$54.3M————
Capital Expenditures Incurred but Not Yet Paid—$54.3M————
ROU Asset Obtained for Lease Liability-$954.0K$0.0$1.7M$0.0$155.5M$136.0M
Income Taxes Paid, Net$1.4M$1.0M-$2.4M$0.0$516.0K$87.0K

Financing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Proceeds from convertible debt——$389.6M———
Repayments of Convertible Debt—$0.0————
Proceeds from issuance of debt——$389.6M———
Repayments of debt—$0.0$0.0———
Payments Of Debt Issuance Costs$1.8M$0.0$6.3M$877.0K$48.7M$1.9M
Payments Of Stock Issuance Costs$568.0K$480.0K—$18.5M—$5.5M
Proceeds from repayments of a nonrecourse promissory note$42.0K$0.0$18.0K$557.0K$101.0K—
Repayments Of Capped Call Transactions—$0.0————
Repayments of Convertible Debt—$0.0————
Net cash from financing activities$457.0M$107.1M$645.9M$606.1M$3.0B$355.0M
Payment of debt issuance costs$1.8M$0.0$6.3M$877.0K$48.7M$1.9M
Proceeds from issuance of common stock$147.7M$107.6M—$618.4M$1.6B$380.0M
Payments of Stock Issuance Costs$568.0K$480.0K—$18.5M—$5.5M

Investing

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Net Cash Divested from Deconsolidation$0.0$0.0$0.0———
Capital expenditures$411.4M$35.8M$184.1M$180.3M$539.7M$949.2M
Payments For Other Prepayments And Deposits, Investing Activities—$1.2M———$144.7M
Payments Related To Computer Hardware—$299.4M———$406.1M
Payments to Acquire Intangible Assets—$0.0————
Payments To Acquire Right Of Use Assets—$0.0————
Repayments/(advancement) of loan proceeds$0.0$0.0$0.0———
Proceeds from short-term investment in time deposit$117.5K$117.5K$117.5K———
Proceeds from disposals of property, plant and equipment$7.8M$1.7M$1.2M$0.0$0.0$22.8M
Net cash from investing activities-$180.3M-$442.9M-$370.2M-$280.9M-$851.0M-$1.5B
Proceeds from sale of property, plant and equipment$7.8M$1.7M$1.2M$0.0$0.0$22.8M
Purchases of intangible assets—$0.0————
Payments for Deposits—$0.0————

Other

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Net Change in Cash Excluding Exchange Rate Effect$330.3M-$242.7M$378.9M$467.6M$2.2B—
Effect of exchange rate changes on cash-$1.6M-$289.0K—$124.0K$28.0K-$568.0K
Net Change in Cash Excluding FX Effect$330.3M-$242.7M$378.9M$467.6M$2.2B—
Net increase (decrease) in cash$330.3M-$242.7M$378.9M$467.6M$2.2B—
Net Change in Cash Excluding Exchange Rate Effect$330.3M-$242.7M$378.9M$467.6M$2.2B—
Accrued payables for capital expenditures—$54.3M————
Increase (decrease) in fair value of assets held for sale$516.0K-$95.0K——-$6.4M-$2.0M
Mining Hardware Finance Prepayments Made Directly By Third Party Financier$0.0$0.0$0.0———
Stock-based compensation - third party issuance$0.0$0.0$0.0———
Accrued interest related to hardware financing$0.0$0.0$0.0———
ATM agent fees$4.5M$4.5M$4.5M———
Other NonCash Nonoperating Income$0.0$0.0$0.0———
Other finance expense$146.5K$146.5K$146.5K———
Reclassification of property, plant and equipment to assets held for sale—$20.3M—$0.0$20.1M$15.0M
Leased assets obtained in exchange for operating lease liabilities-$954.0K$0.0$1.7M$0.0$155.5M$136.0M
Unrealized Gain (Loss) on Investments-$32.3M-$37.9M$147.7M$665.0M-$107.4M-$23.7M

Free Cash Flow

MetricQ2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Free cash flow-$85.5M-$51.3M-$81.0M-$38.0M-$468.0M-$873.8M