IREN
IREN Limited
There isn't enough reported data to score IREN yet.
SZZL
Sizzle Acquisition Corp. II
There isn't enough reported data to score SZZL yet.
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.
SZZL Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| N/A | |
| N/A |
SZZL's profitability is currently healthy. There isn't enough data to rate its revenue. Free cash flow and net leverage aren't meaningful measures for financial services companies like SZZL.
IREN PE Valuation
IREN has no meaningful PE right now: it lost money over the past year.
SZZL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 30x | $7.55 | -28% |
| Fair | 31x | $7.87 | -25% |
| Current | 42x | $10.54 | — |
| Expensive | 52x | $12.96 | +23% |
Historical ranges are pointers, not guarantees.
SZZL's PE is 42x, but its earnings don't support one, so it isn't a reliable read right now.
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.
SZZL Forward outlook
There aren't enough analyst estimates for SZZL to show an outlook.
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.
SZZL Earnings Per Share
SZZL has the edge over IREN in the latest year-over-year earnings comparison.
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 has the edge over SZZL on sales, with more consistent year-over-year improvement.
| 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.
SZZL Quarterly Revenue
SZZL's revenue is shrinking: $0 last quarter.
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 has the edge over SZZL on cash flow, with more consistent year-over-year improvement.
SZZL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$140.1K | -265% |
| Q2 2026 | -$313.2K | +$9K |
| Q3 2025 | $84.8K | +$84.8K |
| Q3 2024 | $0 | +$232.9K |
| Q3 2023 | -$232.9K | -$108.1K |
| Q2 2023 | -$155.5K | -$37.2K |
| Q1 2023 | -$295.9K | -$30.9K |
| Q4 2022 | -$477.6K | +$89K |
SZZL's free cash flow was −$735,655 over the past year, against −$470,303 the year before. Free cash flow isn't a meaningful measure for financial services companies like SZZL.
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 the edge over SZZL on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
SZZL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +32% | +7.7M shares |
| 1 year | +32% | +7.7M shares |
| 3 years | +44% | +9.5M shares |
SZZL has 31M diluted shares, up 32% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q3 2024 | — |
| Q3 2023 | $14.5M |
| Q2 2023 | — |
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.
SZZL Net Leverage
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).
SZZL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 84.2 | Overbought |
| Stochastic | 93.0 | Overbought |
SZZL's weekly RSI is 84 (overbought) and its Stochastic is 93 (overbought).
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.
SZZL PE vs Financial Services Sector
| Metric | SZZL | Sector median | Relative |
|---|---|---|---|
| PE | 42x | 13x | 219% above |
| PE % | 61 | 16 | 45 pts above |
SZZL is trading at 42x earnings, a 219% premium to the Financial Services sector's median of 13x, though its earnings don't support one.
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 |
SZZL has stronger trend alignment. IREN is above 1 of 5 weekly averages versus SZZL above 3 of 3.
SZZL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $10.5 | 0.3% above |
| 20 week MA | $10.5 | 0.9% above |
| 50 week MA | $10.3 | 1.9% above |
SZZL is in an uptrend: it's above all three of its weekly moving averages, and 1.9% above its 50-week average.
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.
SZZL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2025 | $9.91 | $10.2 | +2.5% |
| 2026 YTD | $10.2 | $10.5 | +3.7% |
SZZL has the edge over IREN on returns for 2026, with the stronger performance.