IREN Limited reported its fiscal year 2026 financial results and announced a new multi-year contract with a leading fron

IREN Limited (NASDAQ: IREN) issued a business update and full fiscal year 2026 financial results for the period ending June 30, 2026. The company highlighted a new multi-year agreement with a leading frontier AI lab, noting $4 billion in contracted annual recurring revenue for 2026 capacity, $1 billion in operating annual recurring revenue today, and $2.8 billion in GPU financings funding 90 percent of associated GPU capital expenditures.

Daniel Roberts, Co-Founder and Co-CEO of IREN, said, “We started IREN with a simple observation: the digital world can scale almost instantly, but the physical world cannot.” He added, “This year, that founding thesis became tangible. Exponential AI consumption growth has fueled demand for compute capacity well beyond the available supply of infrastructure. IREN was built for this moment.” Regarding operations, he stated, “Our 2026 capacity is largely sold out. This includes Horizon 1, the first of four leading-edge liquid cooled GPU deployments that we successfully delivered to Microsoft this month.” He continued, “We have broadened our customer base to include hyperscalers, enterprises, AI developers and frontier labs. As our platform has scaled and our market position has strengthened, we have attracted leading customers and secured stronger pricing, more attractive contract terms and improved paybacks.” On strategy, he noted, “We are continuing to contract future capacity with a deliberate strategy, building a diversified base of counterparties and preserving room for higher-value managed services and software. Site optimization is also increasing the revenue potential of every megawatt. With increasing availability of a broad range of capital sources to fund our expansion, we are well positioned to keep compounding as the structural shortage of compute deepens.” He concluded, “We have spent years assembling what is difficult to replicate: power, land, data centers, compute, software and people. This is only the beginning.”

IREN will host a webcast and conference call to discuss the FY26 results, with a recorded replay available shortly after the event at https://iren.com/investor/events-and-presentations. The company describes itself as a vertically integrated AI Cloud platform that provides data centers, compute, and software for AI training and inference, supported by an extensive portfolio of land and grid-connected renewable power across North America, Europe, and APAC. The release contains standard forward-looking statements subject to risks and uncertainties, including challenges related to securing capital, executing growth strategies, managing construction or supply chain delays, navigating tariffs, and handling equipment price increases, particularly for GPUs and other hardware required for current and future AI Cloud Services, as the source text concludes mid-sentence.