IREN Limited reported fourth-quarter revenue of $137.2 million, missing the $142.32 million consensus estimate by 3.6% and falling 26.8% from $187.3 million a year earlier. Revenue was also below the $144.8 million reported in the prior quarter. AI Cloud Services generated $70.5 million, overtaking Bitcoin mining revenue of $66.7 million and becoming the larger contributor to quarterly revenue. The company said it had $4 billion of contracted annualized run-rate revenue for 2026 capacity, including $1 billion operating today, and that 2026 capacity was largely sold out. Fiscal-year revenue reached $707.0 million, while IREN has secured $2.8 billion of GPU financing for non-investment-grade customer deployments, covering more than 90% of related capital expenditure. Shares were down 0.27% at $40.42 in Thursday's extended trading.