IREN Ltd Reports Record Revenue Growth and Strategic Microsoft Contract
ByAinvest
Friday, Nov 7, 2025 12:33 am ET1min read
IREN--
MSFT--
IREN Ltd reported Q1 2026 earnings with record revenue growth of 28% QoQ and 355% YoY to $240 million, and adjusted EBITDA of $92 million. The company secured a $9.7 billion AI cloud contract with Microsoft, expected to generate $1.94 billion in annual recurring revenue. IREN plans to expand its GPU fleet from 23,000 to 140,000 by the end of 2026, supporting $3.4 billion in annualized run rate revenue.
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