Flagship explainer

How IREN Limited makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$707M · 100%Cost of revenue$220M · 31%Gross profit$487M · 69%Operating income−$1.0B · −148%Income before tax−$709M · −100%Income tax−$6.1M · −1%Net income−$703M · −99%As of 2026-06-30 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$707M100%
Cost of revenue$220M31%
$487M69%
−$1.0B−148%
Income before tax−$709M−100%
Income tax−$6.1M−1%
−$703M−99%
Source: · event Jun 30, 2026 · retrieved Sep 4, 2026 · annual-row source set
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