Filing Flows › Iren (IREN) › Q1 FY27
Iren (IREN) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Nov 5, 2026
Iren (IREN) reported revenue of $228M for the first quarter fiscal 2027 (Q1 FY27), -5% from a year earlier and +66% from the quarter before. Operating margin was -81.6%, net loss $263M (115.4% of revenue).
Iren, Q1 FY27: revenue $228M (-5% year over year), operating margin -81.6%, net loss $263M, operating cash flow $529M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $228M | +66% | -5% |
| Operating profit | −$186M | — | — |
| Net earnings | −$263M | — | -168% |
| Operating cash flow | $529M | -71% | +273% |
What changed
Revenue was $228.0M in Q1 FY27, down 5% year over year and up 66% from the previous quarter. AI Cloud Services was the largest line at 59% of revenue.
Operating costs exceeded revenue by $186.0M, an operating margin of -81.6%. Total costs grew 31% against a revenue fall of 5%. The fastest-growing cost line was SG&A (+57%). The quarter ended with a net loss of $263.0M, narrower than the previous quarter's $684.0M loss.
Operating cash flow was $529.0M (up 273% year over year). Non-cash charges added back $148.0M of depreciation and amortization and $106.0M of share-based compensation. Working capital and other items added $538.0M. Capital expenditures of $2,131.0M exceeded it, leaving free cash flow of −$1,602.0M.
Questions
What was Iren's revenue in the first quarter fiscal 2027?
Iren (IREN) reported revenue of $228M for the first quarter fiscal 2027 (Q1 FY27), -5% from a year earlier and +66% from the quarter before.
Was Iren profitable in the first quarter fiscal 2027?
Operating loss was $186M (-81.6% of revenue) and net loss $263M.
Source: Iren 10-Q on SEC EDGAR.