What is Iris Energy's market cap?

Iris Energy (IREN) has a market capitalization of $14.7B and trades on NASDAQ.

What is Iris Energy's revenue and profitability?

Iris Energy generated $757.1M in trailing twelve-month revenue with net income of $158.1M, representing a net margin of 20.9%. Gross margin stands at 68.4%, with free cash flow of -$1.5B. These figures are based on the Q1 2026 filing.

Who are Iris Energy's competitors?

Iris Energy's key competitors include Marathon Digital Holdings, Riot Platforms, HIVE Digital Technologies Ltd. Common Shares, and others. These companies compete in similar markets and product categories.

Who does Iris Energy partner with?

Iris Energy's notable partners include Kraken, Coinbase, Antpool, and others.

What subsidiaries does Iris Energy have?

Iris Energy's subsidiaries include PodTech Innovation Inc..

Where is Iris Energy headquartered?

Iris Energy is headquartered in Australia and employs approximately 100 people. It has been publicly traded since 2021.

Iris Energy

IREN

IREN is a vertically integrated owner and operator of next-generation data centers powered by 100% renewable energy.

Market cap

$14.7B+257%

Revenue$757.1M+110%

Net income$158.1M+263%

Free cash flow-$1.5B-443%

EPS (diluted)$0.65+227%

Trailing twelve months · change vs. prior year

Table of contents

Earnings

Q3 2026 report

May 7, 2026

Revenue$144.8MMiss by $74.9M EPS-$0.25Miss by $0.03

Read the full report

Next report

Aug 27, 2026 (in a month)

Revenue estimate$157.1M

EPS estimate-$0.32

Financials

Q3 2026

Income statement

See full

Revenue$144.8M0.0%

Gross profit$104.9M+1.9%

Operating income-$233.5M-899%

Net income-$247.8M-1,435%

EPS (diluted)-$0.74-957%

Balance sheet

See full

Cash & equivalents$2.2B+1,101%

Total debt$399.2M—

Total equity$2.7B+98.2%

Total assets$7.3B—

Cash flow

See full

Operating cash flow$75.3M-19.1%

CapEx$949.2M+2,548%

Free cash flow-$873.8M-1,602%

Valuation & ratios

Valuation

See full

Market cap$14.7B+257%

Enterprise value$12.89B+266%

P/E93×+46.0×

P/S19.4×+11.3×

Profitability

See full

Gross margin68.4%+3.9pp

Operating margin-54%-56.2pp

Net margin20.9%+13.4pp

FCF margin-193%-522pp

Returns & leverage

See full

Return on equity7.9%—

Debt / equity0.1×—

Current ratio3.7×—

Segments

By product

See full

Bitcoin mining$111.2M-21.3%

AI Cloud Services$33.6M+839%

Competitors

By market cap

Iris Energy$14.7B+259%

TeraWulf$10.9B+482%

Riot Platforms, Inc.$7.9B+92.1%

Marathon Digital Holdings$4.8B-18.5%

HIVE Digital Technologies$895.9M—

Gryphon Digital Mining, Inc.$447.5M—

Greenidge Generation Holdings Inc.$35.7M+47.2%

LM Funding America, Inc.$2.7M-77.4%

By revenue growth

Gryphon Digital Mining, Inc.+357%

Iris Energy+110%

Riot Platforms, Inc.+42.4%

TeraWulf+27.3%

Marathon Digital Holdings+23.1%

By net margin

Iris Energy20.88%+47.8pp

Gryphon Digital Mining, Inc.-65.2%-282pp

Riot Platforms, Inc.-132.76%-45.8pp

Marathon Digital Holdings-235.12%-188pp

TeraWulf-611.46%-517pp

Profile

IREN is a vertically integrated owner and operator of next-generation data centers powered by 100% renewable energy. The company leverages its proprietary electrical infrastructure to support high-performance computing applications, primarily focusing on Bitcoin mining and AI cloud services. Its value proposition centers on securing low-cost, sustainable energy and maintaining full operational control over its physical assets and hardware.

Competitive position

A vertically integrated operator that differentiates through ownership of freehold land and grid-connected renewable energy infrastructure.

GeographiesUnited States, Canada

Customer segmentsAI technology companies, Digital asset networks, Enterprise cloud users

Business modelInfrastructure-as-a-Service (IaaS), Asset-heavy mining, Cloud-based GPU computing

SuppliersRenewable energy providers, ASIC hardware manufacturers, GPU manufacturers, Electrical infrastructure components

CustomersAI model developers, Cryptocurrency exchanges, Institutional cloud buyers

CountryAustralia

Listed2021

Employees100.0

CEOWilliam Roberts

SectorFinancial Services

IndustryFinancial - Capital Markets

Websiteirisenergy.co

FilingsSEC EDGAR

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Questions, answered.

What is Iris Energy's market cap?: Iris Energy (IREN) has a market capitalization of $14.7B and trades on NASDAQ.
What is Iris Energy's revenue and profitability?: Iris Energy generated $757.1M in trailing twelve-month revenue with net income of $158.1M, representing a net margin of 20.9%. Gross margin stands at 68.4%, with free cash flow of -$1.5B. These figures are based on the Q1 2026 filing.
Who are Iris Energy's competitors?: Iris Energy's key competitors include Marathon Digital Holdings, Riot Platforms, HIVE Digital Technologies Ltd. Common Shares, and others. These companies compete in similar markets and product categories.
Who does Iris Energy partner with?: Iris Energy's notable partners include Kraken, Coinbase, Antpool, and others.
What subsidiaries does Iris Energy have?: Iris Energy's subsidiaries include PodTech Innovation Inc..
Where is Iris Energy headquartered?: Iris Energy is headquartered in Australia and employs approximately 100 people. It has been publicly traded since 2021.