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Iren (IREN) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed May 8, 2026
Iren (IREN) reported revenue of $145M for the third quarter fiscal 2026 (Q3 FY26), 0% from a year earlier and -22% from the quarter before. Operating margin was -161.3%, net loss $248M (171.2% of revenue).
Iren, Q3 FY26: revenue $145M (0% year over year), operating margin -161.3%, net loss $248M, operating cash flow $75.3M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $145M | -22% | 0% |
| Operating profit | −$234M | — | — |
| Net earnings | −$248M | — | — |
| Operating cash flow | $75.3M | +5% | -19% |
What changed
Revenue was $144.8M in Q3 FY26, roughly flat year over year and down 22% from the previous quarter. Bitcoin mining was the largest line at 77% of revenue. Bitcoin mining lost $30.1M year over year (down 21%), 107436% of the total change.
Operating costs exceeded revenue by $233.5M, an operating margin of -161.3%. Total costs grew 227% against flat revenue. The fastest-growing cost line was Other operating costs (+476%). The quarter ended with a net loss of $247.8M, wider than the previous quarter's $155.4M loss.
Operating cash flow was $75.3M (down 19% year over year). Non-cash charges added back $121.2M of depreciation and amortization and $31.5M of share-based compensation. Working capital and other items added $170.4M. Capital expenditures of $949.2M exceeded it, leaving free cash flow of −$873.8M.
Questions
What was Iren's revenue in the third quarter fiscal 2026?
Iren (IREN) reported revenue of $145M for the third quarter fiscal 2026 (Q3 FY26), 0% from a year earlier and -22% from the quarter before.
Was Iren profitable in the third quarter fiscal 2026?
Operating loss was $234M (-161.3% of revenue) and net loss $248M.
Source: Iren 10-Q on SEC EDGAR.