IREN Limited (IREN) Revenue History
Annual and quarterly revenue from 2019 to present
IREN Revenue Over Time (2019–2025)
IREN Revenue Growth History
4 of 6 years with positive growth- FY2019 revenue growth
- N/A
- FY2020 revenue growth
- +341499.5%
- FY2021 revenue growth
- -1922.9%
- FY2022 revenue growth
- -561.2%
- FY2023 revenue growth
- +123.7%
- FY2024 revenue growth
- +216.3%
- FY2025 revenue growth
- +161.9%
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2026 | $112.7M | -38.1% |
| Q3 2026 | $90.3M | -35.6% |
| Q2 2026 | $114.2M | +2.3% |
| Q1 2026 | $231.0M | +325.2% |
| Q4 2025 | $182.1M | +226.3% |
| Q3 2025 | $140.2M | +158.6% |
| Q2 2025 | $111.6M | +162.4% |
| Q1 2025 | $54.3M | +58.1% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown
IREN's revenue distribution by segment and geography
By Geography
IREN Revenue Analysis (2019–2025)
Current Revenue & Growth
As of September 26, 2026, IREN Limited (IREN) generated trailing twelve-month (TTM) revenue of $548.3 million, reflecting significant decline in growth of -38.1% year-over-year. The most recent quarter (Q4 2026) recorded $112.7 million in revenue, up 24.8% sequentially.
Historical Growth Trajectory
IREN's 5-year compound annual growth rate (CAGR) stands at +198.4%, indicating outstanding long-term growth trajectory. IREN Limited's highest annual revenue of $490.0 million was recorded in 2025, an all-time high.
Peer Comparison
Compared to Financial Services sector peers — including RIOT (+23.0% YoY), MARA (-1.0% YoY), and CLSK (+7.5% YoY) — IREN has underperformed the peer group in 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 | $548M | -38.1% | +198.4% | 3.5% | |
 RIOT | $623M | +23.0% | +120.0% | -61.8% | |
 MARA | $859M | -1.0% | +188.0% | -90.6% | |
 CLSK | $766M | +7.5% | +138.0% | 41.6% | |
 CIFR | $187M | -80.4% | - | -180.1% | |
 HUT | $-14,992,000 | -114.0% | - | -2104.6% |
IREN Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $490.0M | +161.9% | $342.0M | 69.8% | $17.3M | 3.5% |
| 2024 | $187.1M | +216.3% | $100.1M | 53.5% | $-27,234,000 | -14.6% |
| 2023 | $59.1M | +123.7% | $36.1M | 61.0% | $-157,241,000 | -265.9% |
| 2022 | $-249,489,049 | -561.2% | $51.6M | -20.7% | $307K | -0.1% |
| 2021 | $-37,735,160 | -1922.9% | $5.7M | -15.0% | $-524,000 | 1.4% |
| 2020 | $2.1M | - | $1.3M | 60.6% | $-1,676,000 | -81.0% |
| 2019 | $606 | - | $0 | - | $-112,679 | -18593.9% |
IREN Chart Terminal
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Live Breakouts Feed
High-probability breakout stocks crossing their pivot across 5 pattern engines.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
7+ years return with dividends reinvested.
Peer Comparison
Compare growth, multiples, and margins vs sector.
IREN — Frequently Asked Questions
Quick answers to the most common questions about buying IREN stock.
Is IREN's revenue growth accelerating or slowing?
IREN revenue is declining -38.1% year-over-year. TTM revenue fell to $548M, contrasting with the 5-year CAGR of +198.4%. The reversal reflects either macro headwinds or company-specific challenges.
What is IREN's revenue history from 2019 to 2026?
IREN Limited (IREN) revenue history spans 2019 to 2026. TTM revenue as of 2026 is $548M, growing at -38.1% YoY. The 5-year CAGR is +198.4%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is IREN's long-term revenue growth rate (CAGR)?
IREN Limited's 5-year revenue CAGR of +198.4% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -38.1% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for IREN.
Why does IREN's quarterly revenue fluctuate?
IREN quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. IREN Limited's revenue data from 2019 to 2026 shows full historical quarterly detail on this page.
How is IREN's revenue distributed by segment?
IREN reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does IREN's revenue compare to industry peers?
IREN Limited (IREN) with TTM revenue of $548M and -38.1% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.