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Iris Energy IREN AI Cloud Services — Other direct expenses

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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$13.93B+241%
Enterprise value$12.12B+244%
P/E88.1×+41.2×
P/S18.4×+10.2×

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:OtherCostOfOperatingRevenue.

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 AI cloud services — other direct expenses?
Iris Energy (IREN) reported AI cloud services — other direct expenses of $803K in Q1 2026.
How has Iris Energy's AI cloud services — other direct expenses changed year-over-year?
Iris Energy's AI cloud services — other direct expenses increased by 985.1% year-over-year, from $74K to $803K.
What does AI cloud services — other direct expenses mean?
This metric includes miscellaneous direct costs necessary for the delivery of AI cloud services that are not classified as electricity or labor. These may include software licensing, hardware maintenance contracts, or specific infrastructure connectivity fees. It provides visibility into the ancillary costs of maintaining a cloud service platform.