IREN Ltd
For the period ended Dec 31, 2025. Filed Feb 5, 2026.
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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.
Dec 31, 2025 · Filed Feb 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Unaudited Condensed Consolidated Statements of Cash Flows
IREN Limited
Condensed Consolidated Statements of Cash Flows
(Unaudited, in USD thousands)
| Six Months Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income (loss) | $229,204 | $(73,591) |
| Adjustments to reconcile net income (loss) to net cash from (used in) operating activities: | ||
| Depreciation and amortization | 184,402 | 70,008 |
| Impairment of assets | 48,012 | 6,942 |
| Change in fair value of assets held for sale | 6,449 | 2,066 |
| Realized (gain) loss on financial instruments | 8,666 | 4,215 |
| Unrealized (gain) loss on financial instruments | (557,642) | 32,300 |
| Debt conversion inducement expense | 111,799 | — |
| Other (income) expense | — | 1,724 |
| (Gain) loss on disposal of property, plant and equipment | 6 | (152) |
| Foreign exchange loss (gain) | 7,714 | 3,373 |
| Stock-based compensation expense | 130,636 | 16,159 |
| Amortization of debt issuance costs | 3,381 | 151 |
| Changes in assets and liabilities: | ||
| Accounts receivable and other receivables | (24,998) | 2,906 |
| Other assets | 204 | (189) |
| Financial asset, current | — | 6,530 |
| Tax related liabilities | 7,646 | 2,688 |
| Accounts payable and accrued expenses | (9,016) | 44,447 |
| Other liabilities | 35,665 | 4,697 |
| Deferred revenue | 45,741 | (268) |
| Prepayments and deposits | (13,736) | (74,652) |
| Operating lease liabilities | (129) | 287 |
| Net cash from (used in) operating activities | 214,004 | 49,641 |
| Investing activities | ||
| Payments for property, plant and equipment net of computer hardware | (720,001) | (244,890) |
| Payments for computer hardware | (279,708) | (326,061) |
| Payments for intangible assets | (107,573) | — |
| Payments for other prepayments and deposits | (14,362) | (4,797) |
| Proceeds from disposal of property, plant and equipment | — | 8,318 |
| Deposits paid for right-of-use assets | (10,184) | — |
| Net cash from (used in) investing activities | (1,131,828) | (567,430) |
| Financing activities | ||
| Payment of offering costs for the issuance of Ordinary shares | (18,495) | (670) |
| Proceeds from the issuance of Ordinary shares | 2,250,782 | 231,666 |
| Payment for induced conversion of convertible notes | (1,623,484) | — |
| Proceeds from loan funded shares | 658 | 858 |
| Proceeds from exercise of options | 6,597 | — |
| Proceeds from convertible notes | 3,299,555 | 311,646 |
| Payment of capped call transactions | (252,252) | — |
| Payment of borrowing transaction costs | (49,626) | (1,815) |
| Net cash from (used in) financing activities | 3,613,735 | 541,685 |
| Net increase (decrease) in cash and cash equivalents | 2,695,911 | 23,896 |
| Cash and cash equivalents at the beginning of the period | 564,526 | 404,601 |
| Effects of exchange rate changes on cash and cash equivalents | 152 | (1,224) |
| Cash and cash equivalents at the end of period | $3,260,589 | $427,273 |
See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements
IREN Limited
Condensed Consolidated Statements of Cash Flows (continued)
(Unaudited, in USD thousands)
| Six Months Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental cash flow information: | ||
| Cash paid for interest | $16,882 | $75 |
| Cash paid for income taxes | 516 | 1,353 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Additions to right-of-use assets in exchange for lease liability | 155,547 | — |
| Property, plant and equipment in accounts payable and accrued expenses | 448,277 | 102,108 |
| Reclassification of property, plant and equipment to assets held for sale | 20,102 | 2,952 |
| Issuance of Ordinary shares - stock-based compensation settlements | 71,296 | 4,995 |
See accompanying Notes to the Unaudited Condensed Consolidated Financial Statements
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