IREN Q4 FY2026 Revenue Meets Expectations as AI Cloud Revenue Doubles

IREN reported $137.2 million in revenue for the fourth quarter of fiscal year 2026, aligning with market expectations. While adjusted EBITDA of $19.2 million fell 53% short of projections, AI cloud service revenue surged from $33.6 million to $70.5 million quarter-over-quarter, offsetting a decline in Bitcoin mining revenue from $111.2 million to $66.7 million. The company currently holds an ARR of approximately $1 billion, with 2026 capacity nearly sold out and contracted ARR reaching $4 billion. IREN has secured a multi-year contract with a frontier AI la