We're Not Worried About Iris Energy's (NASDAQ:IREN) Cash Burn [Yahoo! Finance]
Iris Energy Limited (IREN)
Company Research
Source: Yahoo! Finance
lost money for years while it grew recurring revenue, if you held shares since 2005, you'd have done very well indeed. Nonetheless, only a fool would ignore the risk that a loss making company burns through its cash too quickly. Given this risk, we thought we'd take a look at whether Iris Energy NASDAQ:IREN ) shareholders should be worried about its cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). The first step is to compare its cash burn with its cash reserves, to give us its 'cash runway'. See our latest analysis for Iris Energy When Might Iris Energy Run Out Of Money? A company's cash runway is the amount of time it would take to burn through its cash reserves at its current cash burn rate. When Iris Energy last reported its December 2023 balance sheet in February 2024, it had zero debt and cash worth US$92m. Looking at the last year, the
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IREN
News
- Iris Energy Limited (NASDAQ: IREN) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $10.00 price target on the stock.MarketBeat
- Iris Energy Limited (NASDAQ: IREN) had its price target raised by analysts at Canaccord Genuity Group Inc. from $9.00 to $12.00. They now have a "buy" rating on the stock.MarketBeat
- IREN Reports Third Quarter FY24 Results [Yahoo! Finance]Yahoo! Finance
- IREN Reports Third Quarter FY24 ResultsGlobeNewswire
- IREN’s expansion plans increased to 30 EH/s in 2024GlobeNewswire
IREN
Sec Filings
- 5/15/24 - Form F-3
- 5/15/24 - Form 6-K
- 5/6/24 - Form 6-K
- IREN's page on the SEC website