IREN Stock Jumps Despite Delay to $4 Billion ARR Target

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This article first appeared on GuruFocus. IREN Limited (NASDAQ:IREN) rose 15.30% as of 9:35 a.m. ET after it reported fiscal first-quarter revenue up 66% sequentially to $228 million, roughly in line with analysts' consensus of $228.26 million. AI cloud revenue rose 182% to $200 million as its Horizon 1 data center went into service for Microsoft, while bitcoin mining revenue fell to $28 million from $67 million. The net loss narrowed to $263 million from $684 million, and adjusted EBITDA rose to $66 million from $19 million. Warning! GuruFocus has detected 8 Warning Signs with IREN. Is IREN fairly valued? Test your thesis with our free DCF calculator.