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Side-by-side financial comparison of Ascendis Pharma A/S (ASND) and IREN Ltd (IREN). Click either name above to swap in a different company.
Ascendis Pharma A/S is the larger business by last-quarter revenue ($267.3M vs $184.7M, roughly 1.4× IREN Ltd). On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 42.3%).
Ascendis Pharma A/SASNDEarnings & Financial Report
Growth hormone therapy refers to the use of growth hormone (GH) as a prescription medication—it is one form of hormone therapy. Growth hormone is a peptide hormone secreted by the pituitary gland that stimulates growth and cell reproduction. In the past, growth hormone was extracted from human pituitary glands. Growth hormone is now produced by recombinant DNA technology and is prescribed for a variety of reasons. GH therapy has been a focus of social and ethical controversies for 50 years.
IREN Ltd. is a vertically integrated data center business powering the future of Bitcoin, AI and beyond with renewable energy. It is strategically located in renewable-rich, fiber-connected regions across the US and Canada.
ASND vs IREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $267.3M | $184.7M |
| Net Profit | — | $-155.4M |
| Gross Margin | 90.5% | 64.4% |
| Operating Margin | — | -63.0% |
| Net Margin | — | -84.1% |
| Revenue YoY | 42.3% | 59.0% |
| Net Profit YoY | — | -610.0% |
| EPS (diluted) | — | $-0.52 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $267.3M | $184.7M | ||
| Q3 25 | $230.7M | $240.3M | ||
| Q2 25 | $170.7M | — | ||
| Q1 25 | $109.0M | — | ||
| Q4 24 | $187.8M | $116.1M | ||
| Q3 24 | $62.5M | $52.8M | ||
| Q2 24 | $38.9M | — | ||
| Q1 24 | $103.6M | $54.3M |
| Q4 25 | — | $-155.4M | ||
| Q3 25 | $-65.9M | $384.6M | ||
| Q2 25 | $-42.0M | — | ||
| Q1 25 | $-102.2M | — | ||
| Q4 24 | — | $-21.9M | ||
| Q3 24 | $-107.1M | $-51.7M | ||
| Q2 24 | $-118.1M | — | ||
| Q1 24 | $-141.5M | $8.6M |
| Q4 25 | 90.5% | 64.4% | ||
| Q3 25 | 89.5% | 66.4% | ||
| Q2 25 | 80.1% | — | ||
| Q1 25 | 82.6% | — | ||
| Q4 24 | 91.9% | 72.2% | ||
| Q3 24 | 80.6% | 39.6% | ||
| Q2 24 | 68.2% | — | ||
| Q1 24 | 92.1% | — |
| Q4 25 | — | -63.0% | ||
| Q3 25 | 5.1% | -31.8% | ||
| Q2 25 | -33.5% | — | ||
| Q1 25 | -103.2% | — | ||
| Q4 24 | — | 14.9% | ||
| Q3 24 | -167.3% | -89.2% | ||
| Q2 24 | -370.2% | — | ||
| Q1 24 | -51.2% | 11.1% |
| Q4 25 | — | -84.1% | ||
| Q3 25 | -28.5% | 160.1% | ||
| Q2 25 | -24.6% | — | ||
| Q1 25 | -93.7% | — | ||
| Q4 24 | — | -18.8% | ||
| Q3 24 | -171.5% | -98.0% | ||
| Q2 24 | -303.9% | — | ||
| Q1 24 | -136.6% | 15.9% |
| Q4 25 | — | $-0.52 | ||
| Q3 25 | — | $1.08 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-0.10 | ||
| Q3 24 | — | $-0.27 | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $665.3M | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-175.8M | $2.5B |
| Total Assets | $1.4B | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $665.3M | $3.3B | ||
| Q3 25 | $582.2M | $1.0B | ||
| Q2 25 | $533.6M | — | ||
| Q1 25 | $559.4M | — | ||
| Q4 24 | $604.3M | $427.3M | ||
| Q3 24 | $675.6M | $98.6M | ||
| Q2 24 | $279.4M | — | ||
| Q1 24 | $345.9M | $259.7M |
| Q4 25 | $-175.8M | $2.5B | ||
| Q3 25 | $-188.0M | $2.9B | ||
| Q2 25 | $-202.6M | — | ||
| Q1 25 | $-205.0M | — | ||
| Q4 24 | $-114.2M | $1.2B | ||
| Q3 24 | $-105.1M | $1.1B | ||
| Q2 24 | $-346.8M | — | ||
| Q1 24 | $-257.2M | $677.2M |
| Q4 25 | $1.4B | $7.0B | ||
| Q3 25 | $1.2B | $4.3B | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.3B | $1.9B | ||
| Q3 24 | $1.2B | $1.3B | ||
| Q2 24 | $819.0M | — | ||
| Q1 24 | $866.7M | $723.6M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $58.2M | $71.7M |
| Free Cash FlowOCF − Capex | — | $-468.0M |
| FCF MarginFCF / Revenue | — | -253.4% |
| Capex IntensityCapex / Revenue | — | 292.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $58.2M | $71.7M | ||
| Q3 25 | — | $142.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | $-15.5M | — | ||
| Q4 24 | $-330.7M | $53.6M | ||
| Q3 24 | — | $-3.9M | ||
| Q2 24 | — | — | ||
| Q1 24 | $-109.7M | $-27.1M |
| Q4 25 | — | $-468.0M | ||
| Q3 25 | — | $-38.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-85.5M | ||
| Q3 24 | — | $-109.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-108.3M |
| Q4 25 | — | -253.4% | ||
| Q3 25 | — | -15.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -73.6% | ||
| Q3 24 | — | -208.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -199.4% |
| Q4 25 | — | 292.2% | ||
| Q3 25 | — | 75.0% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 119.7% | ||
| Q3 24 | — | 200.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 149.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ASND
Segment breakdown not available.
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
