IREN stock closed at $27.44 on October 27, 2026, up 7.9% a day after touching a 52-week low. The rebound came ahead of the AI cloud provider’s fiscal first-quarter results, scheduled for November 5.

Key Takeaways

  • The shares rose $2.01 on Tuesday and traded at $28.57 in Wednesday premarket dealing.
  • IREN reported $7.59 billion in borrowings and $5.90 billion in cash at June 30.
  • Analysts expect September-quarter revenue of $229.81 million and a loss of $0.72 per share.

IREN stock recovers from 52-week low

IREN shares touched $23.72 during trading on Monday, October 26, before closing that session at $25.43. Tuesday’s close was 15.7% above the intraday low, although the stock remained down 40.70% over one month.

Tuesday’s trading volume was 46.71 million shares, compared with an average of 43.48 million. The stock traded at $28.57 in Wednesday premarket dealing, up another 4.12% from the close.

Other AI infrastructure shares also advanced Tuesday: CoreWeave rose 8%, Nebius gained 11% and Applied Digital climbed 10%. The concurrent gains do not establish what caused IREN’s move.

Funding and capacity in focus

IREN’s June 30 balance sheet showed $7,593.0 million in total borrowings against $5,895.6 million in cash and cash equivalents. The company also reported $243.8 million in finance lease liabilities and $1.72 billion in restricted cash.

In its August fiscal 2026 update, IREN reported $4 billion in contracted annualized run-rate revenue for 2026 capacity. Its explanation of annualized run-rate revenue says the operating measure differs from recognized revenue, which may be materially lower. The company said the target was subject to commissioning, testing and customer acceptance.

IREN has targeted cumulative IT capacity delivery of approximately 0.3 gigawatts in 2026 and 0.8 gigawatts in 2027. It also announced a 300-megawatt campus at Badajoz, Spain, on October 21, with initial operation planned for 2028.

What to watch in the quarterly results

IREN is due to report results for the September quarter on Thursday, November 5, with a call at 5:00 p.m. Eastern time. The figures for revenue and loss per share are analyst expectations, not reported results.

For fiscal 2026, the company reported $707.0 million in revenue and a $702.6 million net loss. AI Cloud Services contributed $128.8 million in revenue, compared with $16.4 million in fiscal 2025.

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