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Iris Energy IREN Free cash flow

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Other financials

Income statement

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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

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Cash & equivalents$2.2B+1,101%
Total debt$399.2M
Total equity$2.7B+98.2%
Total assets$7.3B

Cash flow

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Operating cash flow$75.3M-19.1%
CapEx$949.2M+2,548%

Valuation

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Market cap$14.7B+260%
Enterprise value$12.89B+266%
P/E93×+46.0×
P/S19.4×+11.3×

Profitability

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Gross margin68.4%+3.9pp
Operating margin-54%-56.2pp
Net margin20.9%+13.4pp
FCF margin-193%-522pp

Returns & leverage

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Return on equity7.9%
Debt / equity0.1×
Current ratio3.7×

Where this comes from

Calculated from Iris Energy’s reported figures.

The official record: Iris Energy’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Iris Energy's free cash flow?
Iris Energy (IREN) reported free cash flow of -$873.83M in Q1 2026.
How has Iris Energy's free cash flow changed year-over-year?
Iris Energy's free cash flow decreased by 1601.8% year-over-year, from -$51.35M to -$873.83M.
What is the long-term trend for Iris Energy's free cash flow?
Over 2 years (2023 to 2025), Iris Energy's free cash flow has grown at a 72.3% compound annual growth rate (CAGR), from -$110.34M to -$327.57M.
What does free cash flow mean?
Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.