Neocloud IREN says $4 billion in annualized revenue being delayed due to customer request
CNBC · Kif Leswing ·
Following a dramatic plunge in its stock price, IREN said some revenue is being delayed from 2026 until early next year.
Following a 26% post-election plunge in its stock price, neocloud IREN said in its earnings report on Thursday that over $4 billion in annual recurring revenue projected to land in 2026 has been pushed out to at least January.
IREN said the move, which could extend payment to February, is due to "a customer-requested change and supplier timing."
On the company's earnings call, IREN co-CEO Daniel Roberts said Microsoft is the customer.