IREN surged about 17% premarket after fiscal Q1 revenue of $228M beat estimates, with AI Cloud revenue nearly tripling sequentially to $200M at an 86% gross margin and the net loss narrowing to $263M from $684M. The backlog grew 22% to $20.3B, though the $4B contracted ARR target was pushed to January/February 2027 on a customer-requested data-center design change.
Useful?