vs
Side-by-side financial comparison of IREN Ltd (IREN) and USANA HEALTH SCIENCES INC (USNA). Click either name above to swap in a different company.
USANA HEALTH SCIENCES INC is the larger business by last-quarter revenue ($250.2M vs $184.7M, roughly 1.4× IREN Ltd). USANA HEALTH SCIENCES INC runs the higher net margin — 3.0% vs -84.1%, a 87.1% gap on every dollar of revenue. On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs -3.0%).
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.
Usana Health Sciences, Inc., or USANA, is an American multi-level marketing company based in Salt Lake City, Utah. As of 2021, Usana was the 14th largest direct-selling company in the world by revenue. The company manufactures most of its nutritional products, dietary supplements, and skincare products at a Salt Lake City facility. Its products are sold in 24 countries via a network of independent distributors.
IREN vs USNA — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2027
| Metric | | |
|---|---|---|
| Revenue | $184.7M | $250.2M |
| Net Profit | $-155.4M | $7.5M |
| Gross Margin | 64.4% | 76.2% |
| Operating Margin | -63.0% | 5.5% |
| Net Margin | -84.1% | 3.0% |
| Revenue YoY | 59.0% | -3.0% |
| Net Profit YoY | -610.0% | -20.0% |
| EPS (diluted) | $-0.52 | $0.41 |
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 | — | $250.2M | ||
| Q4 25 | $184.7M | $226.2M | ||
| Q3 25 | $240.3M | $213.7M | ||
| Q2 25 | — | $235.8M | ||
| Q1 25 | — | $249.5M | ||
| Q4 24 | $116.1M | $213.6M | ||
| Q3 24 | $52.8M | $200.2M | ||
| Q1 24 | $54.3M | — |
| Q1 26 | — | $7.5M | ||
| Q4 25 | $-155.4M | $180.0K | ||
| Q3 25 | $384.6M | $-6.5M | ||
| Q2 25 | — | $9.7M | ||
| Q1 25 | — | $9.4M | ||
| Q4 24 | $-21.9M | $4.5M | ||
| Q3 24 | $-51.7M | $10.6M | ||
| Q1 24 | $8.6M | — |
| Q1 26 | — | 76.2% | ||
| Q4 25 | 64.4% | 78.2% | ||
| Q3 25 | 66.4% | 77.2% | ||
| Q2 25 | — | 78.7% | ||
| Q1 25 | — | 79.0% | ||
| Q4 24 | 72.2% | 82.0% | ||
| Q3 24 | 39.6% | 80.4% | ||
| Q1 24 | — | — |
| Q1 26 | — | 5.5% | ||
| Q4 25 | -63.0% | 1.7% | ||
| Q3 25 | -31.8% | 0.6% | ||
| Q2 25 | — | 7.1% | ||
| Q1 25 | — | 6.3% | ||
| Q4 24 | 14.9% | 3.8% | ||
| Q3 24 | -89.2% | 7.8% | ||
| Q1 24 | 11.1% | — |
| Q1 26 | — | 3.0% | ||
| Q4 25 | -84.1% | 0.1% | ||
| Q3 25 | 160.1% | -3.1% | ||
| Q2 25 | — | 4.1% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | -18.8% | 2.1% | ||
| Q3 24 | -98.0% | 5.3% | ||
| Q1 24 | 15.9% | — |
| Q1 26 | — | $0.41 | ||
| Q4 25 | $-0.52 | $-0.10 | ||
| Q3 25 | $1.08 | $-0.36 | ||
| Q2 25 | — | $0.52 | ||
| Q1 25 | — | $0.49 | ||
| Q4 24 | $-0.10 | $0.23 | ||
| Q3 24 | $-0.27 | $0.56 | ||
| 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 | $3.3B | $162.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.5B | — |
| Total Assets | $7.0B | $739.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $162.8M | ||
| Q4 25 | $3.3B | $158.4M | ||
| Q3 25 | $1.0B | $145.3M | ||
| Q2 25 | — | $151.3M | ||
| Q1 25 | — | $179.6M | ||
| Q4 24 | $427.3M | $181.8M | ||
| Q3 24 | $98.6M | $364.9M | ||
| Q1 24 | $259.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.9B | $528.1M | ||
| Q2 25 | — | $531.1M | ||
| Q1 25 | — | $529.8M | ||
| Q4 24 | $1.2B | $532.1M | ||
| Q3 24 | $1.1B | $533.1M | ||
| Q1 24 | $677.2M | — |
| Q1 26 | — | $739.0M | ||
| Q4 25 | $7.0B | $742.9M | ||
| Q3 25 | $4.3B | $726.6M | ||
| Q2 25 | — | $734.5M | ||
| Q1 25 | — | $746.6M | ||
| Q4 24 | $1.9B | $748.2M | ||
| Q3 24 | $1.3B | $671.3M | ||
| Q1 24 | $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 | $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 | — | ||
| Q3 25 | $142.4M | $-2.0M | ||
| Q2 25 | — | $12.2M | ||
| Q1 25 | — | $15.5M | ||
| Q4 24 | $53.6M | $5.8M | ||
| Q3 24 | $-3.9M | $29.5M | ||
| Q1 24 | $-27.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | $-468.0M | — | ||
| Q3 25 | $-38.0M | $-5.2M | ||
| Q2 25 | — | $7.2M | ||
| Q1 25 | — | $12.7M | ||
| Q4 24 | $-85.5M | $4.0M | ||
| Q3 24 | $-109.7M | $27.1M | ||
| Q1 24 | $-108.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | -253.4% | — | ||
| Q3 25 | -15.8% | -2.4% | ||
| Q2 25 | — | 3.0% | ||
| Q1 25 | — | 5.1% | ||
| Q4 24 | -73.6% | 1.9% | ||
| Q3 24 | -208.0% | 13.6% | ||
| Q1 24 | -199.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 292.2% | — | ||
| Q3 25 | 75.0% | 1.5% | ||
| Q2 25 | — | 2.1% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | 119.7% | 0.8% | ||
| Q3 24 | 200.6% | 1.2% | ||
| Q1 24 | 149.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | — | 1.27× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | — | 1.29× | ||
| Q3 24 | — | 2.78× | ||
| Q1 24 | -3.13× | — |
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% |
USNA
Segment breakdown not available.
