Filing Flows › Iren (IREN) › Q1 FY27 › vs Q1 FY26
Iren (IREN) Q1 FY27 vs Q1 FY26 (year over year)
Iren's revenue fell $12.0M (-5%) from $240M in Q1 FY26 to $228M in Q1 FY27. The biggest changes: Other revenues −$205M (-88%); AI Cloud Services +$128M (19×); AI Cloud Lease +$65.0M (—).
Iren, Q1 FY27: revenue $228M (-5% year over year), operating margin -81.6%, net loss $263M, operating cash flow $529M. The chart draws each line against Q1 FY26, the increases inside each band.
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| AI Cloud Services | $135M | $7.0M | $128M | 19× |
| AI Cloud Lease | $65.0M | $0 | $65.0M | — |
| Other revenues | $28.0M | $233M | −$205M | -88% |
| Revenue | $228M | $240M | −$12.0M | -5% |
| Net loss | $263M | −$385M | $648M | — |
| Costs & expenses | $491M | $891M | −$400M | -45% |
| Operating costs | $414M | $316M | $98.0M | +31% |
| Interest & other, net | $75.0M | −$651M | $726M | — |
| Income tax | $2.0M | $191M | −$189M | -99% |
| Cost of revenue | $46.0M | $81.0M | −$35.0M | -43% |
| SG&A | $217M | $138M | $79.0M | +57% |
| Other operating costs | $144M | $97.0M | $47.0M | +48% |
| Operating cash sources | $792M | −$243M | $1.0B | — |
| Depreciation & amortization | $148M | $85.0M | $63.0M | +74% |
| Share-based compensation | $106M | $72.0M | $34.0M | +47% |
| Working capital & other | $538M | −$400M | $938M | — |
| Net loss absorbed | $263M | −$385M | $648M | — |
| Operating cash flow | $529M | $142M | $387M | +273% |
| Capital expenditures | $2.1B | $180M | $2.0B | 12× |
| Negative free cash flow (OCF − capex) | $1.6B | $38.0M | $1.6B | 42× |
Questions
How much did Iren's revenue grow year over year in Q1 FY27?
Iren's revenue fell $12.0M (-5%) from $240M in Q1 FY26 to $228M in Q1 FY27.
What drove Iren's revenue change in Q1 FY27?
Other revenues −$205M (-88%); AI Cloud Services +$128M (19×); AI Cloud Lease +$65.0M (—).