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

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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%

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

Valuation

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Market cap$14.7B+241%

Enterprise value$12.89B+244%

P/E93×+43.4×

P/S19.4×+10.8×

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

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 →

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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.