What is Iris Energy's AI cloud services — cost of revenue?

Iris Energy (IREN) reported AI cloud services — cost of revenue of $4.6M in Q1 2026.

How has Iris Energy's AI cloud services — cost of revenue changed year-over-year?

Iris Energy's AI cloud services — cost of revenue increased by 1268.2% year-over-year, from $336K to $4.6M.

What does AI cloud services — cost of revenue mean?

This metric captures the direct costs associated with delivering AI cloud services, including power, maintenance, and technical support personnel. It measures the efficiency of the operational model in supporting high-compute workloads. Monitoring this helps assess the gross margin profile of the cloud services segment.

Iris Energy IREN AI Cloud Services — Cost of Revenue

Other product segments

Bitcoin mining

$35.34M-15.1%

Similar metrics at other companies

MOVERevenue AI Platform And Services — Cost Of Revenue

$247K—

MOVEAI Platform And Services — Cost Of Revenue AI Platform And Services

$247K—

BTBTCloud Services — Cost Of Revenue

$6.78M+11.4%

MOVERevenue Connected Devices And Services — Cost Of Revenue

$265K-58.7%

MSFTIntelligent Cloud — Cost of Goods Sold

$15.12B+46.7%

WYF

WYFICloud Services — Segment Cost Of Revenue

$6.79M—

Other financials

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

See full

Market cap$13.93B+241%

Enterprise value$12.12B+244%

P/E88.1×+41.2×

P/S18.4×+10.2×

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×—

Where this comes from

Reported directly by Iris Energy in its filing.

Tagged under the XBRL concept us-gaap:CostOfRevenue.

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

Ask your AI about Iris Energy's ai cloud services — cost of revenue.

Connect your AI assistant and compare segments, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Iris Energy's AI cloud services — cost of revenue?: Iris Energy (IREN) reported AI cloud services — cost of revenue of $4.6M in Q1 2026.
How has Iris Energy's AI cloud services — cost of revenue changed year-over-year?: Iris Energy's AI cloud services — cost of revenue increased by 1268.2% year-over-year, from $336K to $4.6M.
What does AI cloud services — cost of revenue mean?: This metric captures the direct costs associated with delivering AI cloud services, including power, maintenance, and technical support personnel. It measures the efficiency of the operational model in supporting high-compute workloads. Monitoring this helps assess the gross margin profile of the cloud services segment.