vs
Side-by-side financial comparison of IREN Ltd (IREN) and Porch Group, Inc. (PRCH). Click either name above to swap in a different company.
IREN Ltd is the larger business by last-quarter revenue ($184.7M vs $121.1M, roughly 1.5× Porch Group, Inc.). Porch Group, Inc. runs the higher net margin — -3.9% vs -84.1%, a 80.3% gap on every dollar of revenue. On growth, Porch Group, Inc. posted the faster year-over-year revenue change (100.0% vs 59.0%).
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.
Porch is a website that tries to connect homeowners with local home improvement contractors. The site features advice articles, cost guide, and online booking for over 160 home projects.
IREN vs PRCH — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $184.7M | $121.1M |
| Net Profit | $-155.4M | $-4.7M |
| Gross Margin | 64.4% | 52.7% |
| Operating Margin | -63.0% | 34.7% |
| Net Margin | -84.1% | -3.9% |
| Revenue YoY | 59.0% | 100.0% |
| Net Profit YoY | -610.0% | 2.0% |
| EPS (diluted) | $-0.52 | $-0.04 |
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.
| Q1 26 | — | $121.1M | ||
| Q4 25 | $184.7M | $112.3M | ||
| Q3 25 | $240.3M | $115.1M | ||
| Q2 25 | — | $107.0M | ||
| Q1 25 | — | $84.5M | ||
| Q4 24 | $116.1M | $75.3M | ||
| Q3 24 | $52.8M | $77.7M | ||
| Q2 24 | — | $75.9M |
| Q1 26 | — | $-4.7M | ||
| Q4 25 | $-155.4M | $-3.5M | ||
| Q3 25 | $384.6M | $-10.9M | ||
| Q2 25 | — | $2.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | $-21.9M | $30.5M | ||
| Q3 24 | $-51.7M | $14.4M | ||
| Q2 24 | — | $-64.3M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 64.4% | 99.5% | ||
| Q3 25 | 66.4% | 75.6% | ||
| Q2 25 | — | 70.9% | ||
| Q1 25 | — | 77.4% | ||
| Q4 24 | 72.2% | — | ||
| Q3 24 | 39.6% | 79.4% | ||
| Q2 24 | — | 22.1% |
| Q1 26 | — | 34.7% | ||
| Q4 25 | -63.0% | 14.7% | ||
| Q3 25 | -31.8% | 14.2% | ||
| Q2 25 | — | 4.7% | ||
| Q1 25 | — | -1.5% | ||
| Q4 24 | 14.9% | 33.3% | ||
| Q3 24 | -89.2% | -3.2% | ||
| Q2 24 | — | -69.2% |
| Q1 26 | — | -3.9% | ||
| Q4 25 | -84.1% | -3.1% | ||
| Q3 25 | 160.1% | -9.4% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 9.9% | ||
| Q4 24 | -18.8% | 40.5% | ||
| Q3 24 | -98.0% | 18.5% | ||
| Q2 24 | — | -84.8% |
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $-0.52 | $0.00 | ||
| Q3 25 | $1.08 | $-0.10 | ||
| Q2 25 | — | $0.00 | ||
| Q1 25 | — | $0.07 | ||
| Q4 24 | $-0.10 | $0.34 | ||
| Q3 24 | $-0.27 | $0.12 | ||
| Q2 24 | — | $-0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.3B | $68.4M |
| Total DebtLower is stronger | — | $391.3M |
| Stockholders' EquityBook value | $2.5B | $26.3M |
| Total Assets | $7.0B | $806.6M |
| Debt / EquityLower = less leverage | — | 14.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $68.4M | ||
| Q4 25 | $3.3B | $57.3M | ||
| Q3 25 | $1.0B | $85.0M | ||
| Q2 25 | — | $79.8M | ||
| Q1 25 | — | $70.4M | ||
| Q4 24 | $427.3M | $191.7M | ||
| Q3 24 | $98.6M | $238.6M | ||
| Q2 24 | — | $308.4M |
| Q1 26 | — | $391.3M | ||
| Q4 25 | — | $392.8M | ||
| Q3 25 | — | $387.1M | ||
| Q2 25 | — | $394.1M | ||
| Q1 25 | — | $409.2M | ||
| Q4 24 | — | $403.9M | ||
| Q3 24 | — | $399.0M | ||
| Q2 24 | — | $436.8M |
| Q1 26 | — | $26.3M | ||
| Q4 25 | $2.5B | $-24.6M | ||
| Q3 25 | $2.9B | $-27.9M | ||
| Q2 25 | — | $-29.3M | ||
| Q1 25 | — | $-52.4M | ||
| Q4 24 | $1.2B | $-43.2M | ||
| Q3 24 | $1.1B | $-77.0M | ||
| Q2 24 | — | $-101.9M |
| Q1 26 | — | $806.6M | ||
| Q4 25 | $7.0B | $797.4M | ||
| Q3 25 | $4.3B | $787.7M | ||
| Q2 25 | — | $770.7M | ||
| Q1 25 | — | $802.3M | ||
| Q4 24 | $1.9B | $814.0M | ||
| Q3 24 | $1.3B | $867.3M | ||
| Q2 24 | — | $876.1M |
| Q1 26 | — | 14.87× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $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.
| Q1 26 | — | — | ||
| Q4 25 | $71.7M | $1.2M | ||
| Q3 25 | $142.4M | $40.8M | ||
| Q2 25 | — | $35.6M | ||
| Q1 25 | — | $-11.2M | ||
| Q4 24 | $53.6M | $-26.6M | ||
| Q3 24 | $-3.9M | $12.4M | ||
| Q2 24 | — | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | $-468.0M | $1.1M | ||
| Q3 25 | $-38.0M | $40.7M | ||
| Q2 25 | — | $35.4M | ||
| Q1 25 | — | $-11.2M | ||
| Q4 24 | $-85.5M | $-26.8M | ||
| Q3 24 | $-109.7M | $12.2M | ||
| Q2 24 | — | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | -253.4% | 1.0% | ||
| Q3 25 | -15.8% | 35.4% | ||
| Q2 25 | — | 33.0% | ||
| Q1 25 | — | -13.3% | ||
| Q4 24 | -73.6% | -35.6% | ||
| Q3 24 | -208.0% | 15.7% | ||
| Q2 24 | — | -34.3% |
| Q1 26 | — | — | ||
| Q4 25 | 292.2% | 0.1% | ||
| Q3 25 | 75.0% | 0.1% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | 119.7% | 0.3% | ||
| Q3 24 | 200.6% | 0.3% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | — | 13.79× | ||
| Q1 25 | — | -1.33× | ||
| Q4 24 | — | -0.87× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
PRCH
Segment breakdown not available.
