Iren (IREN) Cost of Revenue (2024 - 2026)
Iren (IREN) recorded Cost of Revenue of $33.34 million in fiscal Q4 2026 (quarter ended Jun 30, 2026), down 37.0% from $52.89 million a year earlier and down 16.5% from the prior quarter.
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Analysis
Iren (IREN) Cost of Revenue (2024 - 2026) Analysis & Trends
For FY2026 (ended Jun 30, 2026), Iren reported Cost of Revenue of $219.71 million, up 38.2% from FY2025.
- Annual Cost of Revenue has increased for three straight fiscal years, with a three-year compound annual growth rate of 77.3% (FY2023 to FY2026).
- Across earlier fiscal years, Cost of Revenue came in at $158.99 million in FY2025 (+82.6%), $87.07 million in FY2024 (+120.9%) and $39.42 million in FY2023.
- The fiscal Q4 2026 figure is the lowest quarterly Cost of Revenue since fiscal Q2 2025.
- On a year-over-year basis, Cost of Revenue rose in two of the last four quarters, with growth averaging 53.8%.
- Per Business Quant, the preceding three fiscal quarters came in at $39.93 million (Q3 2026), $65.76 million (Q2 2026) and $80.67 million (Q1 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | - |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | - |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 3.45 Bn |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | 33.34 Mn |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | - |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 2.40 Bn |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 1.29 Bn |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | 5.73 Mn |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 141.41 Mn |
| 10 | Hut 8 | 11.04 Bn | 10.88 Bn | 48.04 Mn | 26.89 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 33.34 Mn |
| Mar 31, 2026 | 39.93 Mn |
| Dec 31, 2025 | 65.76 Mn |
| Sep 30, 2025 | 80.67 Mn |
| Jun 30, 2025 | 52.89 Mn |
| Mar 31, 2025 | 41.95 Mn |
| Dec 31, 2024 | 32.29 Mn |
| Sep 30, 2024 | 31.86 Mn |
API Access
Iren Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=IREN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "IREN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=IREN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();