IREN Limited (IREN) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
Revenue Breakdown
IREN's revenue distribution by segment and geography
By Geography
IREN Revenue Analysis (2019–2025)
As of February 28, 2026, IREN Limited (IREN) generated trailing twelve-month (TTM) revenue of $760.4 million, reflecting explosive growth of +56.7% year-over-year. The most recent quarter (Q2 2026) recorded $184.7 million in revenue, down 23.1% 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 BMNR, WULF, and CIFR. Compare IREN vs BMNR →
Peer Comparison
Compare IREN's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IRENCurrent | $760M | +56.7% | +196.8% | 3.5% | |
| BMNR | $6M | - | - | 7288.1% | |
| WULF | $140M | - | - | -54.4% | |
| CIFR | $224M | - | - | -76.7% | |
| RIOT | $377M | - | - | 40.8% | |
| HUT | $235M | - | - | -136.9% |
Historical Revenue Data
| 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 ComparisonFrequently Asked Questions
Is IREN's revenue growth accelerating or slowing?
IREN revenue is accelerating at +56.7% year-over-year, exceeding the 5-year CAGR of +196.8%. TTM revenue reached $760M. Growth momentum has increased versus prior periods.
What is IREN's long-term revenue growth rate?
IREN Limited's 5-year revenue CAGR of +196.8% reflects the sustained expansion pattern. Current YoY growth of +56.7% is above 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.