IREN Ltd
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Statements of Cash Flows
IREN Limited
Condensed Consolidated Statements of Cash Flows
(Unaudited, in USD thousands)
| Three Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income (loss) | $384,611 | $(51,703) |
| Adjustments to reconcile net income (loss) to net cash from (used in) operating activities: | ||
| Depreciation and amortization | 85,226 | 33,931 |
| Impairment of assets | 16,257 | 6,942 |
| Change in fair value of assets held for sale | — | 2,582 |
| Realized (gain) loss on financial instruments | 5,756 | 4,215 |
| Unrealized (gain) loss on financial instruments | (664,993) | — |
| Other (income) expense | — | 1,724 |
| (Gain) loss on disposal of property, plant and equipment | 13 | (833) |
| Foreign exchange loss (gain) | 2,201 | (1,190) |
| Stock-based compensation expense | 72,405 | 8,184 |
| Amortization of debt issuance costs | 1,340 | — |
| Changes in assets and liabilities: | ||
| Accounts receivable and other receivables | (13,090) | (11,115) |
| Other assets | 169 | (154) |
| Financial asset, current | — | 6,530 |
| Tax related receivables | 2,581 | — |
| Tax related liabilities | 187,943 | 1,322 |
| Accounts payable and accrued expenses | 3,489 | 45,029 |
| Other liabilities | 48,679 | 2,380 |
| Deferred revenue | 22,457 | (209) |
| Prepayments and deposits | (12,647) | (52,468) |
| Operating lease liabilities | (44) | 918 |
| Net cash from (used in) operating activities | 142,353 | (3,915) |
| Investing activities | ||
| Payments for property, plant and equipment net of computer hardware prepayments | (180,307) | (105,831) |
| Payments for computer hardware prepayments | (100,304) | (277,558) |
| Payments for other prepayments and other assets | (266) | (4,257) |
| Proceeds from disposal of property, plant and equipment | — | 509 |
| Net cash from (used in) investing activities | (280,877) | (387,137) |
| Financing activities | ||
| Payment of offering costs for the issuance of Ordinary shares - at-the-market offering | (18,495) | (102) |
| Proceeds from loan funded shares | 557 | 816 |
| Proceeds from exercise of options | 6,597 | — |
| Payment of borrowing transaction costs | (877) | — |
| Proceeds from the issuance of Ordinary shares – at-the-market offering | 618,355 | 83,955 |
| Net cash from (used in) financing activities | 606,137 | 84,669 |
| Net increase (decrease) in cash and cash equivalents | 467,613 | (306,383) |
| Cash and cash equivalents at the beginning of the period | 564,526 | 404,601 |
| Effects of exchange rate changes on cash and cash equivalents | 124 | 371 |
| Cash and cash equivalents at the end of period | $1,032,263 | $98,589 |
See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements
IREN Limited
Condensed Consolidated Statements of Cash Flows (continued)
(Unaudited, in USD thousands)
| Three Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental cash flow information: | ||
| Cash paid for interest | $— | $(17) |
| Cash paid for income taxes | — | — |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Additions to right of use assets in exchange for an operating lease liability | — | 954 |
| Unrealized gain (loss) on derivative asset | 195,210 | — |
| Unrealized gain (loss) on financial asset | 469,783 | — |
| Realized gain (loss) on derivative asset | (5,756) | — |
| Reclassification of property, plant and equipment to assets held for sale | — | 13,648 |
| Issuance of common stock - restricted stock unit settlements | 1,787 | 4,758 |
See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements
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