IREN Delivers First Horizon 1 Data Center as More Than $4 Billion ARR Target Moves to 2027

IREN said it delivered its first Horizon 1 data center to Microsoft and received NVIDIA Exemplar certification as fiscal first-quarter 2027 revenue rose 66% quarter over quarter to $228 million. AI cloud revenue climbed 182% sequentially to $200 million , with gross margin of about 86%. Revenue backlog reached $20.3 billion, up 22% from the previous quarter. IREN said its more than $4 billion annualized revenue target is signed and funded.

Source: TokenPost