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Iris Energy (IREN)
NASDAQ:IREN
Holding IREN?
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
-$0.02Last Year’s EPS
-$0.07Same Quarter Last Year
Strong Buy
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 26, 2024
|% Change Since: 19.40%
|Next Earnings Date:Feb 13, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth and expansion plans with low-cost Bitcoin production and strong cash flows. However, increased electricity costs and uncertainty in the AI market present challenges.Company Guidance
In the IREN Q1 FY '25 earnings call, the company outlined several key metrics and strategic goals. Daniel Roberts, Co-Founder and Co-CEO, highlighted the company's focus on producing Bitcoin at a low cash cost of approximately $29,000 per Bitcoin, aiming to reach a production capacity of 31 exahash within weeks and planning to accelerate to 50 exahash in the first half of the next year. The company emphasized its strategy of operating as a low-cost commodity producer, ensuring strong cash-on-cash returns for investors. Additionally, the company discussed its AI and HPC operations, noting the operation of nearly 2,000 GPUs and an intention to install liquid cooling infrastructure to support next-generation GPUs. Financially, IREN reported an adjusted EBITDA of $2.6 million for the quarter, with Bitcoin mining revenue of $54.3 million, and AI cloud services revenue of $3.2 million. The company also stated plans to pursue alternative funding strategies, including convertibles, to support its growth initiatives.Expansion to 50 Exahash
IREN announced an acceleration of their expansion to 50 exahash in the first half of next year, previously scheduled for the second half. This positions them as one of the largest listed miners.
Low Cash Cost of Bitcoin Production
IREN is producing Bitcoin at a cash cost of approximately $29,000 per Bitcoin, with expectations of further reductions as operational efficiencies improve.
Strong Operating Cash Flows
At 31 exahash and with a non-HODL approach, substantial operating cash flows are anticipated, potentially supporting investor distributions in 2025.
AI and HPC Growth
IREN has commissioned NVIDIA H200 GPUs and is focused on contracting out this capacity, with customer trials underway.
Renewable Energy Commitment
IREN is committed to 100% renewable energy, with increased investment in renewable energy certificates as they scale operations.
Strong Balance Sheet
IREN reported having no debt and a robust balance sheet with total assets of $1.3 billion and total equity increased to $1.1 billion.
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IREN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IREN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 26, 2024 | $9.56 | $12.40 | +29.71% |
| Aug 28, 2024 | $7.42 | $8.52 | +14.82% |
| May 15, 2024 | $5.20 | $5.83 | +12.12% |
| Feb 15, 2024 | $7.74 | $6.81 | -12.02% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Iris Energy (IREN) report earnings?
Iris Energy (IREN) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is Iris Energy (IREN) earnings time?
Iris Energy (IREN) earnings time is at Feb 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IREN EPS forecast?
IREN EPS forecast for the fiscal quarter 2025 (Q2) is -$0.02.
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