IREN Limited secured $3.6bn GPU financing for a Microsoft contract, aiming for a $3.4bn ARR by the end of CY26. Construction on a new 1.6GW data center campus in Oklahoma is progressing, boosting grid-connected power to over 4.5GW. The company reported $2.8bn in cash and $9.2bn in funding secured YTD across various sources.

Financial results for Q2 FY26 showed a decrease in total revenue to $184.7m, with a net loss of $(155.4)m. EBITDA decreased to $75.3m, impacted by non-cash items like impairments, stock-based compensation, and debt conversion expenses. Management highlighted progress in capacity expansion and customer engagement, aiming to meet strong demand with reliable delivery.

IREN will host a webcast and conference call to discuss Q2 FY26 results on February 5, 2026. The company is a leading AI Cloud Service Provider, emphasizing large-scale GPU clusters for AI training and inference. Non-GAAP financial measures like EBITDA and Adjusted EBITDA provide further insight into the company’s operations and financial performance.

The consolidated balance sheet as of December 31, 2025, showed total assets of $7,027.6m, with cash and cash equivalents at $3,260.6m. The consolidated statement of operations for the same period reported a net loss of $(155.4)m. Cash flow from operating activities indicated a net increase of $71.6m, while financing activities showed a net increase of $3,007.5m.

Adjusted EBITDA for Q2 FY26 was $75.3m, with a margin of 41%. The metric excludes non-cash items like unrealized gains, impairments, and debt conversion expenses. IREN continues to focus on growth and capital formation to support its AI Cloud platform expansion and meet customer demand effectively.

Read more at GlobeNewswire: IREN Reports Q2 FY26 Results