IREN Q4 Earnings Call Highlights Key Financials and AI Infrastructure Expansion
IREN reported strong financial performance in fiscal 2026 with $4 billion in contracted annualized recurring revenue (ARR), including $1 billion from Microsoft's Horizon 1 deployment. The company noted that its 2026 capacity is largely sold out, with negotiations already underway for a significant portion of 2027 and some parts of 2028. IREN plans to deliver approximately 300 megawatts in IT load by the end of 2026 and aims for another 500 megawatts in 2027, bringing total platform capacity to around 1.2 gigawatts. The company is expanding its AI infrastructure across multiple global locations including Texas, British Columbia, Oklahoma, South Australia, and Spain. Horizon 2 deployment is nearing commissioning while Horizons 3 and 4 are in late-stage construction. IREN secured $19 billion in funding over the past year to support a projected $25–$30 billion capital expenditure for fiscal 2027, with about $8 billion allocated specifically for GPU financing. Despite strong revenue of $137.2 million in its June quarter, IREN reported a net loss of $684 million primarily due to non-cash impairments from decommissioned mining hardware.
Topics: AI cloud growth capacity expansion financial performance