IREN Investors: Look Beyond That $3.4B Target [Seeking Alpha]
Iris Energy Limited (IREN)
Company Research
Source: Seeking Alpha
Q2 FY26 revenues surged 60% to $184.7M, driven by a 541% y/y increase in AI services, while management reaffirmed a $3.4B ARR target for 2026. IREN's strategic advances in power procurement, GPU deployments, and favorable financing underpin its capacity to accelerate growth and attract new hyperscaler contracts. Based on consensus estimates, this should lead to an acceleration every quarter through CY26, resulting in the revenues almost growing 300% in December this year. At 13x forward revenues, IREN offers attractive risk/reward, with potential for multiple expansion to 20x as execution and contract wins materialize. Klaus Vedfelt/DigitalVision via Getty Images Investment Thesis Last week, upcoming neocloud provider IREN Ltd. (NASDAQ: IREN ) reiterated its year-end target in its Q2 FY26 ER to achieve $3.4B in ARR as it continues to build out GPU capacity that This article was written by Analyst's Disclosure: I/we have no stock, option or similar derivative position
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IREN
News
- B. Riley Keeps a Buy Rating on IREN Limited (IREN) [Yahoo! Finance]Yahoo! Finance
- IREN: Crypto Pain, AI Gain [Seeking Alpha]Seeking Alpha
- IREN Appoints John Gross as Chief Innovation OfficerGlobeNewswire
- Lazard Enhanced Opportunities Portfolio Q4 2025 Commentary [Seeking Alpha]Seeking Alpha
- Canaccord Genuity Reiterates Buy on IREN Limited (IREN) [Yahoo! Finance]Yahoo! Finance
IREN
Sec Filings
- 2/13/26 - Form SCHEDULE
- 2/5/26 - Form 10-Q
- 2/5/26 - Form 8-K
- IREN's page on the SEC website