After a 26% decline in stock price following the election, neocloud IREN stated in their financial report on Thursday that the annual recurring revenue of over $4 billion, which was originally expected to be realized in 2026, has been postponed until at least January.

According to IREN, this change may extend the payment deadline to February, due to "changes requested by customers and timing issues with suppliers."

The company's stock price rose in after-hours trading, but prior to that, the stock had fallen by 55% over the past month.

The company stated that its revenue increased by 66% compared to the previous quarter, reaching $228 million, exceeding the average forecast of $221 million from analysts summarized by LSEG. AI Cloud Revenue more than doubled to $200 million. IREN The remaining income came from Bitcoin mining; this was once its main business before the company shifted to AI.

The net loss of IREN narrowed to $263 million, compared to $684 million in the previous period. The financial report does not include data from the same period last year.

As there are signs of cooling down in AI transactions, especially after the Democratic Party's sweeping victory in the mid-term elections on Tuesday, investors are closely watching this company. Market concerns are rising: companies that rely on debt and continue to burn through cash may struggle to fulfill their obligations as interest rates rise and lending institutions withdraw from the market. Nasdaq recorded its worst single-day performance since April 2025 on Thursday.

CoreWeave, which is scheduled to release its financial report on Tuesday, has fallen by 60% in the past month. Nebius, which will release its financial report next Thursday, has fallen by 48% during this period.

IREN indicates that its revenue has increased by 22% compared to the previous period, reaching $20.3 billion, of which "about two-thirds of the counterparties have investment-grade qualifications." The company stated that the $4 billion ARR target has been fully contracted and secured with financial support.

Co-CEO Daniel Roberts stated to Seema Mody of CNBC: 'There is a disconnect between what we observe in the public market and what we see at the customer level.'

However, IREN indicates that plans are to invest $15 billion in capital expenditures for the remainder of this fiscal year, of which $9 billion will come from cash and committed financing, and another $6 billion will come from "target" financing, the latter of which "depends on market conditions."

This neocloud also stated that its computing power prices have continued to rise, and it has expanded its existing contracts with a leading AI laboratory. The company mentioned that its clients include NVIDIA, Microsoft, and another 13 clients.