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Iris Energy IREN AI Cloud Services — Total Revenue

Other product segments

Bitcoin mining
$111.16M-21.3%

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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+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

Reported directly by Iris Energy in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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 — total revenue?
Iris Energy (IREN) reported AI cloud services — total revenue of $33.64M in Q1 2026.
How has Iris Energy's AI cloud services — total revenue changed year-over-year?
Iris Energy's AI cloud services — total revenue increased by 839.3% year-over-year, from $3.58M to $33.64M.
What does AI cloud services — total revenue mean?
This metric represents the total gross income generated from providing high-performance computing and cloud infrastructure services to external clients. It reflects the company's ability to monetize its data center capacity beyond traditional cryptocurrency mining operations. This revenue stream is a key indicator of the company's diversification into the AI and machine learning infrastructure market.