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FrontRow · Nov 5, 2026

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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.” In a call with analysts, Iren co-CEO Daniel Roberts said the customer is Microsoft. “They made a request to reconfigure and upgrade some of the network infrastructure and the purpose of that was really to enable the 200 megawatts of capacity to service these latest generation frontier models,” Roberts said. Shares of IREN rose in extended trading, but that comes after a 55% drop over the past month.

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.” In a call with analysts, Iren co-CEO Daniel Roberts said the customer is Microsoft. “They made a request to reconfigure and upgrade some of the network infrastructure and the purpose of that was really to enable the 200 megawatts of capacity to service these latest generation frontier models,” Roberts said. Shares of IREN rose in extended trading, but that comes after a 55% drop over the past month.

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