IREN Earnings Prediction
The chart below shows how IREN performed 10 days before and after its earnings report, based on data from the past quarters. Typically, IREN sees a -6.02% change in stock price 10 days leading up to the earnings, and a +2.21% change 10 days following the report. On the earnings day itself, the stock moves by +7.70%. This data can give you a slight idea of what to expect for the next quarter's release.
IREN Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
54.39M
--
-5.31%
Gross Margin
--
--
--
Operating Margin
-71.97%
--
95.41%
Net Margin
-95.07%
--
101.76%
EPS
-0.27
--
50.00%
No Data Available
IREN Earnings Analysis
Iris Energy Limited Ordinary Shares Corporation (IREN.O) Earnings Conference Call
Positive
EBITDA and Revenue Breakdown: The company achieved an adjusted EBITDA of $2.6 million with Bitcoin mining revenue of $54.3 million and AI Cloud services revenue of $3.2 million.
Operating Cash Rate Increase: The average operating cash rate for the quarter increased from 9 exahash to 12.1 exahash.
Bitcoin Mining Revenue: The company mined 821 Bitcoin at an average realized price of $66,000.
Cash Increase from Mining: Cash increased to $182.4 million at 31 October 2024, with strong receipts from Bitcoin mining activities of $49.6 million and AI Cloud services of $3.7 million.
Asset Growth and Flexibility: Total assets increased to $1.3 billion, with no debt, providing flexibility to fund future growth.
Negative
Adjusted EBITDA Decline: The company reported an adjusted EBITDA of $2.6 million, which is significantly lower than expected, indicating operational challenges.
Electricity Cost Increase: Net electricity costs increased by $4.6 million to $28.7 million during the quarter, primarily due to increased usage at the Childress site.
Operating Cash Rate Increase: The average operating cash rate increased from 9 exahash to 12.1 exahash, suggesting rising operational costs without a corresponding increase in revenue.
Equity Increase and Funding Reliance: Total equity increased to $1.1 billion, but this was largely due to gross proceeds of $76 million from shares sold under the ATM, indicating reliance on external funding.
Market Competition Impact: The company faced significant competition in the market, which could impact future profitability and growth prospects.
