What is Iris Energy's total cost of revenue?

Iris Energy (IREN) reported total cost of revenue of $39.93M in Q1 2026.

How has Iris Energy's total cost of revenue changed year-over-year?

Iris Energy's total cost of revenue decreased by 4.8% year-over-year, from $41.95M to $39.93M.

What is the long-term trend for Iris Energy's total cost of revenue?

Over 2 years (2023 to 2025), Iris Energy's total cost of revenue has grown at a 100.8% compound annual growth rate (CAGR), from $39.42M to $158.99M.

What does total cost of revenue mean?

The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

Iris Energy IREN Total Cost of Revenue

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Segments

By product

See full

Bitcoin mining$35.34M-15.1%

AI Cloud Services$4.6M+1,268%

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$14.7B+260%

Enterprise value$12.89B+266%

P/E93×+46.0×

P/S19.4×+11.3×

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 →

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Questions, answered.

What is Iris Energy's total cost of revenue?: Iris Energy (IREN) reported total cost of revenue of $39.93M in Q1 2026.
How has Iris Energy's total cost of revenue changed year-over-year?: Iris Energy's total cost of revenue decreased by 4.8% year-over-year, from $41.95M to $39.93M.
What is the long-term trend for Iris Energy's total cost of revenue?: Over 2 years (2023 to 2025), Iris Energy's total cost of revenue has grown at a 100.8% compound annual growth rate (CAGR), from $39.42M to $158.99M.
What does total cost of revenue mean?: The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.