Report

IREN's $4 billion annual recurring revenue target slips into 2027

IREN cited a customer-requested change and supplier timing for a delay that could extend to February 2027.

Neocloud IREN says $4 billion in annualized revenue being delayed due to customer request

TLDR

Quarterly revenue rose 66% from the prior quarter to $228 million, with AI cloud revenue more than doubling to $200 million. IREN said its $4 billion annual recurring revenue target remained fully contracted and funded despite a delay from 2026 to at least January 2027, possibly February. Shares rose in extended trading after losing 55% over the preceding month.

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