IREN Limited (NASDAQ:IREN) shares are trading lower premarket on Thursday after the company reported weaker-than-expected fourth quarter fiscal 2026 results.
Earnings Snapshot
The company reported an adjusted loss per share of 74 cents, missing the analyst estimate of a loss of 49 cents. Revenue of $137.2 million missed the $142.32 million consensus estimate.
Revenue declined $7.6 million sequentially as IREN decommissioned mining hardware ahead of GPU installations.
The company reported a $684 million net loss, mainly reflecting $450.4 million of non-cash impairments, largely related to mining hardware decommissioning, and a $102.1 million decline in the fair value of mining hardware held for sale.
