IREN Reports Strong Q1 FY26 Results and AI Cloud Expansion

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Net income surged to $384.6 million, and adjusted EBITDA rose to $91.7 million. The company secured a landmark $9.7 billion AI cloud contract with Microsoft, targeting $3.4 billion in AI cloud annualized run-rate revenue (ARR) by the end of 2026. IREN also announced expansions in its data center infrastructure to support the growing demand for AI cloud services.

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About Iren Ltd.

Iren Ltd. is an energy company primarily engaged in the generation, distribution, and sale of electricity, heat, and gas throughout Italy. The company plays a crucial role in providing essential energy services to residential, commercial, and industrial sectors. It is a key player in the Italian energy market with a diverse portfolio that includes renewable energy sources, thus contributing to the country’s energy transition and sustainability goals. Iren Ltd. also actively participates in the development and management of integrated water services and environmental services, offering solutions for waste collection, treatment, and disposal. With its strategic focus on innovation and energy efficiency, the company is dedicated to enhancing its infrastructure and service quality. Iren Ltd.'s initiatives in smart city solutions and district heating projects further underscore its commitment to technological advancement and environmental sustainability. As an integral part of the Italian utility sector, Iren Ltd. works to balance energy demand with ecological responsibility, supporting the modernization of urban areas and contributing to the overall stability and development of the regional energy landscape.