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Perella Weinberg Partners vs Iren: PWP and IREN compared
Perella Weinberg Partners is the larger company: $251M of revenue in its latest quarter (Q3 2026) against $228M for Iren (Q1 FY27). Perella Weinberg Partners is growing faster (+53% against -5% a year earlier). Perella Weinberg Partners is more profitable, with an operating margin of 13.9% against -81.6%.
Where the money goes: PWP and IREN
Perella Weinberg Partners (PWP) · Q3 2026
Perella Weinberg Partners, Q3 2026: revenue $251M (+53% year over year), operating margin 13.9%, net earnings $17.6M, operating cash flow $73.1M. The chart follows the revenue to costs, profit and cash.
Iren (IREN) · Q1 FY27
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.
| Perella Weinberg Partners (PWP) | Iren (IREN) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q1 FY27 |
| Revenue | $251M | $228M |
| Revenue growth, Y/Y | +53% | -5% |
| Operating margin | 13.9% | -81.6% |
| Net earnings | $17.6M | −$263M |
| Net margin | 7.0% | -115.4% |
| Operating cash flow | $73.1M | $529M |
| Free cash flow | $71.0M | — |
Where the revenue comes from
Iren
- AI Cloud Services: $135M (59%)
- AI Cloud Lease: $65.0M (29%)
- Other revenues: $28.0M (12%)
Questions
Which is bigger, Perella Weinberg Partners or Iren?
Perella Weinberg Partners is the larger company: $251M of revenue in its latest quarter (Q3 2026) against $228M for Iren (Q1 FY27).
Is Perella Weinberg Partners or Iren growing faster?
Perella Weinberg Partners is growing faster (+53% against -5% a year earlier).
Which is more profitable, Perella Weinberg Partners or Iren?
Perella Weinberg Partners is more profitable, with an operating margin of 13.9% against -81.6%.
More: Perella Weinberg Partners earnings · how Perella Weinberg Partners makes money · Iren earnings · how Iren makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 30, 2026; 10-Q filed Nov 5, 2026). Fiscal quarters can end on different dates. Not investment advice.