IREN Limited (IREN) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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IREN Revenue Growth
Revenue Breakdown
IREN's revenue distribution by segment and geography
By Geography
IREN Revenue Analysis (2019–2025)
As of May 8, 2026, IREN Limited (IREN) generated trailing twelve-month (TTM) revenue of $696.9 million, reflecting modest growth of +2.8% year-over-year. The most recent quarter (Q2 2026) recorded $121.2 million in revenue, down 49.5% sequentially.
Looking at the longer-term picture, IREN's 5-year compound annual growth rate (CAGR) stands at +196.8%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $501.0 million in 2025, representing a new all-time high.
When compared to Financial Services sector peers including RIOT, MARA, and CLSK (+68.0% YoY), IREN has underperformed the peer group in terms of revenue growth. Compare IREN vs RIOT →
IREN Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IRENCurrent | $697M | +2.8% | +196.8% | 3.5% | |
 RIOT | $647M | - | - | -61.8% | |
 MARA | $907M | - | - | -90.6% | |
 CLSK | $766M | +68.0% | +138.0% | 41.6% | |
 CIFR | $224M | - | - | -150.7% | |
 HUT | $15M | - | - | -2104.6% |
IREN Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $501.0M | - | $342.0M | 68.3% | $17.3M | 3.5% |
| 2024 | $187.2M | - | $100.1M | 53.5% | $-27,234,000 | -14.5% |
| 2023 | $75.5M | - | $36.1M | 47.8% | $-157,241,000 | -208.2% |
| 2022 | $59.0M | - | $51.6M | 87.4% | $307K | 0.5% |
| 2021 | $7.9M | - | $5.7M | 71.9% | $-524,000 | -6.6% |
| 2020 | $2.2M | - | $1.3M | 57.7% | $-1,676,000 | -77.1% |
| 2019 | $1K | - | $0 | - | $-112,679 | -10700.8% |
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Start ComparisonIREN — Frequently Asked Questions
Quick answers to the most common questions about buying IREN stock.
Is IREN's revenue growth accelerating or slowing?
IREN revenue growth slowed to +2.8%, below the 5-year CAGR of +196.8%. TTM revenue is $697M. The deceleration marks a shift from historical growth rates.
What is IREN's long-term revenue growth rate?
IREN Limited's 5-year revenue CAGR of +196.8% reflects the variable expansion pattern. Current YoY growth of +2.8% is near this long-term average.
How is IREN's revenue distributed by segment?
IREN reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.