Iren (IREN) Gross Margin (2024 - 2026)
Iren (IREN) reported Gross Margin of 99.97% for Q1 2026, up 126.0% year-over-year from 44.24% in Q1 2025, and up 55.25% on a QoQ basis from 64.39% in Q4 2025.
Iren (IREN) has 3 years of Gross Margin data on file, last reported at 99.97% in Q1 2026.
- Quarterly Gross Margin rose 126.0% year-over-year to 99.97% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 90.91% (changed N/A YoY) and the FY2025 annual result came in at 97.35%, up 166.0% from the prior year.
- Gross Margin improved to 99.97% in Q1 2026 per IREN's latest filing, from 64.39% in the prior quarter.
- Across five years, Gross Margin topped out at 100.0% in Q3 2025 and bottomed at 39.62% in Q3 2024.
- The 3-year median for Gross Margin is 98.38% (2025), against an average of 81.9%.
- Peak annual rise in Gross Margin reached 6038 bps in 2025, while the deepest fall reached 780 bps in 2025.
- Tracing IREN's Gross Margin over 3 years: stood at 72.19% in 2024, then retreated by 11 bps to 64.39% in 2025, then jumped by 55 bps to 99.97% in 2026.
- Per Business Quant, the three latest IREN Gross Margin figures stand at 99.97% (Q1 2026), 64.39% (Q4 2025), and 100.0% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.71 Bn | 197.18 Bn | - | - |
| 2 | Goldman Sachs | 318.59 Bn | -618.96 Bn | - | - |
| 3 | Schwab Charles | 154.74 Bn | 109.76 Bn | - | - |
| 4 | Robinhood Markets | 81.79 Bn | 77.15 Bn | 960.00 Mn | 89.97% |
| 5 | Interactive Brokers | 39.54 Bn | 50.13 Bn | - | - |
| 6 | Circle Internet | 25.60 Bn | 24.08 Bn | 35.01 Mn | 84.10% |
| 7 | LPL Financial Holdings | 22.12 Bn | 21.10 Bn | - | - |
| 8 | Iren | 21.58 Bn | 19.37 Bn | 144.76 Mn | 99.97% |
| 9 | Tradeweb Markets | 21.29 Bn | 20.04 Bn | - | - |
| 10 | Hut 8 | 14.71 Bn | 14.86 Bn | 45.47 Mn | 64.03% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 99.97% |
| Dec 31, 2025 | 64.39% |
| Sep 30, 2025 | 100.00% |
| Jun 30, 2025 | 98.38% |
| Mar 31, 2025 | 98.71% |
| Dec 31, 2024 | 72.19% |
| Sep 30, 2024 | 39.62% |