HAPN
Happen, Inc. Common Stock
HAPN's fundamentals are strong: its operating margin rose 11 points to 26% and revenue grew 10%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
IREN
IREN Limited
There isn't enough reported data to score IREN yet.
HAPN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| N/A | |
| N/A |
HAPN's profitability is currently strong, and its revenue is stable. Free cash flow and net leverage aren't meaningful measures for financial services companies like HAPN.
IREN Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Weak | |
| N/A | |
| N/A |
IREN's revenue and profitability are currently under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like IREN.
HAPN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 7.1x | $15.27 | — |
| Current | 8.5x | $15.27 | — |
| Cheap | 12x | $21.59 | +41% |
| Fair | 23x | $42.16 | +176% |
| Expensive | 29x | $52.47 | +244% |
Historical ranges are pointers, not guarantees.
HAPN's PE is 8.5x, but its earnings don't support one, so it isn't a reliable read right now.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
HAPN Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
HAPN has the edge over IREN on the outlook, with more favorable earnings expectations.
IREN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses growing | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect IREN's losses to grow, with revenue growing. However, they disagree widely on these estimates.
HAPN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.16 | +20% |
| Q3 2026 | $1.80 | +105% |
| Q2 2026 | $1.67 | +161% |
| Q1 2026 | $1.50 | +241% |
| Q4 2025 | $1.16 | +158% |
| Q3 2025 | $0.88 | +91% |
| Q2 2025 | $0.64 | +68% |
| Q1 2025 | $0.44 | +29% |
| Q4 2024 | $0.45 | +25% |
HAPN has the edge over IREN on earnings quality, reporting a profit while its opponent remains loss making.
IREN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.96 | -347% |
| Q2 2026 | -$2.22 | -988% |
| Q1 2026 | $0.51 | +$1.10 |
| Q4 2025 | $1.18 | +$1.62 |
| Q3 2025 | $1.60 | +$1.99 |
| Q2 2025 | $0.25 | +$0.45 |
| Q1 2025 | -$0.59 | -$0.43 |
| Q4 2024 | -$0.44 | -$0.15 |
IREN has swung to a loss: it lost $3.96 per share over the past year, after a profit the year before.
HAPN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $263.2M | -1.2% |
| Q2 2026 | $262.9M | +5.8% |
| Q1 2026 | $252.3M | +16% |
| Q4 2025 | $266.5M | +23% |
| Q3 2025 | $266.2M | +32% |
| Q2 2025 | $248.4M | +33% |
| Q1 2025 | $217.7M | +20% |
| Q4 2024 | $217.2M | +17% |
HAPN's revenue is growing: $263M last quarter, down 1.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +7.7 points |
| Q2 2026 | 29% | +7.1 points |
| Q1 2026 | 27% | +20 points |
| Q4 2025 | 19% | +14 points |
| Q3 2025 | 22% | +13 points |
| Q2 2025 | 22% | +11 points |
| Q1 2025 | 7.2% | -1.9 points |
| Q4 2024 | 5.1% | -2.3 points |
HAPN has the edge over IREN on profitability, with a higher operating margin.
IREN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $228M | -5.1% |
| Q2 2026 | $137.2M | -27% |
| Q1 2026 | $144.8M | 0% |
| Q4 2025 | $184.7M | +59% |
| Q3 2025 | $240.3M | +355% |
| Q2 2025 | $187.3M | +230% |
| Q1 2025 | $144.8M | +168% |
| Q4 2024 | $116.1M | +176% |
IREN's revenue has held roughly level: $228M last quarter, down 5.1% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -82% | -50 points |
| Q2 2026 | -452% | -461 points |
| Q1 2026 | -161% | -180 points |
| Q4 2025 | -63% | -79 points |
| Q3 2025 | -32% | +57 points |
| Q2 2025 | 9% | +49 points |
| Q1 2025 | 19% | +8 points |
| Q4 2024 | 15% | +21 points |
IREN's operating margin was −82% last quarter, down 50 points from the same quarter a year ago.
HAPN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$709.7M | +$82.1M |
| Q2 2026 | -$600.9M | +$202.9M |
| Q1 2026 | -$644.8M | -$292.5M |
| Q4 2025 | -$919.3M | -$716.8M |
| Q3 2025 | -$791.8M | -$109.6M |
| Q2 2025 | -$803.8M | +$141.5M |
| Q1 2025 | -$352.3M | +$506M |
| Q4 2024 | -$202.6M | +$623.5M |
HAPN has the edge over IREN on cash flow, with more consistent year-over-year improvement.
IREN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.6B | -$1.6B |
| Q2 2026 | $482.2M | +2895% |
| Q1 2026 | -$873.8M | -$523.1M |
| Q4 2025 | -$468M | -$334M |
| Q3 2025 | -$38M | +$349.4M |
| Q2 2025 | $16.1M | +$179M |
| Q1 2025 | -$350.7M | -$128.7M |
| Q4 2024 | -$134M | -$105.2M |
IREN's free cash flow was −$2.5B over the past year, against −$507M the year before. Free cash flow isn't a meaningful measure for financial services companies like IREN.
HAPN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +308K shares |
| 1 year | -0.5% | -606K shares |
| 3 years | +7.8% | +8.5M shares |
HAPN has the edge over IREN on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $8.2M |
| Q2 2026 | $7.8M |
| Q1 2026 | $12.6M |
IREN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +26% | +82.4M shares |
| 1 year | +10% | +36.9M shares |
| 3 years | +511% | +333M shares |
| 5 years | +624% | +344M shares |
| Available history | +2346% | +382M shares |
IREN has 399M diluted shares, up 10% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
HAPN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2025 | -0.1x | Net Cash |
| Q2 2025 | -0.1x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | -0.1x | Net Cash |
| Q3 2024 | -0.2x | Net Cash |
| Q2 2024 | -0.1x | Net Cash |
| Q1 2024 | 2.5x | Moderate |
| Q4 2023 | -0.1x | Net Cash |
HAPN has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like HAPN.
IREN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | 157.6x | High |
| Q4 2025 | 22.2x | High |
| Q3 2025 | 4.1x | High |
| Q2 2025 | 2.0x | Moderate |
| Q1 2025 | 3.3x | Elevated |
| Q4 2024 | -4.6x | Net Cash |
| Q3 2024 | -16.7x | Net Cash |
| Q2 2024 | -15.9x | Net Cash |
IREN's net debt is more than 20 years of its operating earnings (EBITDA), up from 3.3 years a year ago. Net leverage isn't a meaningful measure for financial services companies like IREN.
HAPN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.0 | Neutral |
| Stochastic | 26.2 | Neutral |
HAPN's weekly RSI is 43 (neutral) and its Stochastic is 26 (neutral).
IREN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 33.3 | Neutral |
| Stochastic | 8.2 | Oversold |
IREN's weekly RSI is 33 (neutral) and its Stochastic is 8 (oversold).
HAPN PE vs Financial Services Sector
| Metric | HAPN | Sector median | Relative |
|---|---|---|---|
| PE | 8.5x | 13x | 35% below |
| PE % | 1 | 63 | 62 pts below |
HAPN is trading at 8.5x earnings, a 35% discount to the Financial Services sector's median of 13x, though its earnings don't support one.
IREN PE vs Financial Services Sector
| Metric | IREN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 13x | — |
IREN has no meaningful PE right now: it lost money over the past year.
HAPN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.1 | 1% above |
| 20 week MA | $17.2 | 11% below |
| 50 week MA | $17.2 | 11% below |
| 100 week MA | $15.5 | 1.7% below |
| 200 week MA | $12.3 | 24% above |
HAPN has the edge over IREN on trend strength, trading above more of its moving averages.
IREN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 35% below |
| 20 week MA | $36.2 | 46% below |
| 50 week MA | $42.8 | 54% below |
| 100 week MA | $32.0 | 39% below |
| 200 week MA | $19.1 | 2.1% above |
IREN has fallen below most of its moving averages, though it's still 2.1% above its 200-week average.
HAPN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $12.5 | $8.82 | -30% |
| 2021 | $8.82 | $25.8 | +192% |
| 2022 | $25.8 | $8.67 | -66% |
| 2023 | $8.67 | $8.74 | +0.8% |
| 2024 | $8.74 | $16.7 | +91% |
| 2025 | $16.7 | $19.6 | +18% |
| 2026 YTD | $19.6 | $15.3 | -22% |
HAPN has the edge over IREN on returns for 2026, with the stronger performance.
IREN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $24.8 | $17.2 | -31% |
| 2022 | $17.2 | $1.19 | -93% |
| 2023 | $1.19 | $7.15 | +501% |
| 2024 | $7.15 | $10.7 | +50% |
| 2025 | $10.7 | $40.3 | +276% |
| 2026 YTD | $40.3 | $19.5 | -52% |
IREN's yearly returns have swung widely, from +501% in 2023 to −93% in 2022. It's down 52% so far in 2026.