IREN — Q1 FY27 Earnings Summary

IREN reported total quarterly revenue of $228 million for the period ended September 30, 2026, representing a 66% sequential increase. AI Cloud revenue surged 182% sequentially to $200 million, while the segment maintained an 86% gross margin. The company's revenue backlog grew 22% to $20.3 billion, with over $4 billion in annualized run-rate revenue now fully contracted and funded. Additionally, IREN secured new contracts post-quarter end, including a five-year agreement with significant customer prepayments covering 90% of associated GPU capital expenditures.