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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 57M | 5.3% |
| Gross Profit | 47M | 260% |
| Cost of Revenue | 9.4M | 77% |
| Operating expense | 71M | 980.1% |
| Net Income | -27M | 413.3% |
| EBITDA | 2,000 | 100% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 1.15B | 59.3% |
| Total Liabilities | 56M | 20.1% |
| Total Equity | 1.1B | 62% |
| Shares Outstanding | 154M | 37.4% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | 5M | 81.3% |
| Cash from financing | 451M | 75.2% |
EPS
Financial Highlights for Iris Energy in Q2 '24
Iris Energy reported a revenue of 57M, which is a 5.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 47M, marking a 260% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 9.4M, a -77% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 71M, showing a 980.1% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -27M, showing a -413.3% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
The company's EBITDA for the quarter was 2,000, showing a -100% change from the previous period. EBITDA gives insight into the company's operational profitability, excluding non-operating expenses like interest and taxes. A rising EBITDA indicates strong operational performance, while a declining EBITDA may signal operational challenges or increased costs.
Iris Energy faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies. A decline in EBITDA signals potential operational challenges or increased costs.
