Earnings summaries and quarterly performance for IRON MOUNTAIN.
Executive leadership at IRON MOUNTAIN.
William Meaney
Detailed
President and Chief Executive Officer
CEO
BH
Barry Hytinen
Detailed
Executive Vice President and Chief Financial Officer
GM
Greg McIntosh
Detailed
Executive Vice President and General Manager, Global Records and Information Management
JJ
Jemma Johns
Detailed
Executive Vice President and Chief Human Resources Officer
MK
Mark Kidd
Detailed
Executive Vice President and General Manager, Data Centers & Asset Lifecycle Management
MA
Michelle Altamura
Detailed
Executive Vice President, General Counsel & Secretary
MB
Mithu Bhargava
Detailed
Executive Vice President and General Manager, Digital Solutions
Board of directors at IRON MOUNTAIN.
CK
Christie Kelly
Detailed
Director
DS
Doyle Simons
Detailed
Director
JA
Jennifer Allerton
Detailed
Director
JF
June Felix
Detailed
Director
KD
Kent Dauten
Detailed
Director
MF
Monte Ford
Detailed
Director
PA
Pamela Arway
Detailed
Independent Chair of the Board
RM
Robin Matlock
Detailed
Director
TS
Theodore Samuels
Detailed
Director
WR
Walter Rakowich
Detailed
Director
Research analysts who have asked questions during IRON MOUNTAIN earnings calls.
Brendan Lynch
Barclays
8 questions for IRM
Also covers: AMT, BXP, CCI +24 more
George Tong
Goldman Sachs
8 questions for IRM
Also covers: ADT, BCO, BFAM +25 more
SR
Shlomo Rosenbaum
Stifel, Nicolaus & Company, Incorporated
8 questions for IRM
Also covers: ARMK, CCC, CCCS +19 more
Eric Luebchow
Wells Fargo
7 questions for IRM
Also covers: AMT, CCI, CUBE +10 more
AS
Andrew Steinerman
JPMorgan Chase & Co.
6 questions for IRM
Also covers: ARMK, BFAM, CTAS +16 more
JA
Jonathan Atkin
RBC Capital Markets
6 questions for IRM
Also covers: AMT, CCI, DBRG +6 more
KM
Kevin McVeigh
Credit Suisse Group AG
6 questions for IRM
Also covers: ACN, ADP, ALIT +15 more
Tobey Sommer
Truist Securities, Inc.
6 questions for IRM
Also covers: AMN, AMTM, ASGN +26 more
NC
Nate Crossett
BNP Paribas
4 questions for IRM
Also covers: SILA
NC
Nathan Crossett
Baird
2 questions for IRM
Also covers: NSA
AE
Alexander EM Hess
JPMorgan Chase & Co.
1 question for IRM
Also covers: ARMK, BV, DNB +4 more
Recent press releases and 8-K filings for IRM.
Iron Mountain reports Q4 2025 results
IRM
Earnings
Guidance Update
- Iron Mountain delivered $1.84 billion in Q4 2025 revenue, up 17% year-over-year (15% constant FX).
- Adjusted EBITDA reached $705 million, a 17% increase year-over-year, with margin steady at 38.3%.
- AFFO was $430 million, up 17% year-over-year, and AFFO per share rose to $1.44 (+16%).
- Data Center organic revenue grew 37%, and Asset Lifecycle Management grew 56%, driving record segment performance.
- Leverage remained at 4.9x, the dividend was increased by 10%, and 2026 guidance targets ~$7.7 billion in revenue (+12%).
Feb 12, 2026, 1:30 PM
Iron Mountain reports Q4 2025 results
IRM
Earnings
Guidance Update
- Iron Mountain delivered Q4 revenue of $1.84 billion, up 17% year-over-year (14% organic), with Adjusted EBITDA of $705 million (+17%) and AFFO of $430 million (+17%)—all ahead of prior guidance.
- For the full year, revenue reached $6.9 billion (+12%), Adjusted EBITDA was $2.57 billion (+15%), and AFFO totaled $1.54 billion (+15%), marking record annual results.
- Growth segments saw exceptional performance in Q4: data center revenue rose 39% to $237 million on 41 MW of lease commencements , while asset lifecycle management revenue surged 70% to $190 million (56% organic).
- The company issued 2026 guidance calling for $7.625–$7.775 billion in revenue (+12% at midpoint), Adjusted EBITDA of $2.875–$2.925 billion (+13%), and AFFO of $1.705–$1.735 billion (+12%).
Feb 12, 2026, 1:30 PM
Iron Mountain reports Q4 2025 results
IRM
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Iron Mountain delivered Q4 revenue of $1.84 billion, up 17% year-over-year on a reported basis (organic +14%), and Adjusted EBITDA of $705 million, up 17% year-over-year.
- Full year 2025 revenue rose 12% to $6.9 billion, Adjusted EBITDA increased 15% to $2.57 billion, and AFFO grew 15% to $1.54 billion.
- Q4 segment highlights: Data center revenue of $237 million (+39% YoY), with 43 MW signed and backlog supporting >25% growth in 2026; ALM revenue of $190 million (+70% YoY; organic +56%).
- 2026 guidance: total revenue of $7.625–$7.775 billion (+12% at midpoint), Adjusted EBITDA of $2.875–$2.925 billion (+13%), AFFO of $1.705–$1.735 billion (+12%), and AFFO per share of $5.69–$5.79 (+11%).
Feb 12, 2026, 1:30 PM
Iron Mountain reports Q4 2025 results
IRM
Earnings
Guidance Update
Dividends
- Revenue of $1.84 billion in Q4, up 17% YoY (14% organic), with full-year revenue of $6.9 billion, up 12%
- Adjusted EBITDA of $705 million in Q4, up 17%, margin 38.3%; full-year adjusted EBITDA of $2.57 billion, up 15%; Q4 AFFO of $430 million, up 17%, full-year AFFO $1.54 billion, up 15%
- Q4 data center revenue of $237 million, up 39%, and ALM revenue of $190 million, up 70% (56% organic); full-year data center revenue +30% and ALM +63% (40% organic)
- 2026 guidance: revenue $7.625 billion–$7.775 billion (+12%), adjusted EBITDA $2.875 billion–$2.925 billion (+13%), AFFO $1.705 billion–$1.735 billion (+12%)
- Quarterly dividend of $0.864 per share, up 10% YoY; net lease adjusted leverage at 4.9x, the lowest since REIT conversion in 2014
Feb 12, 2026, 1:30 PM
Iron Mountain reports Q4 2025 results
IRM
Earnings
Guidance Update
- Iron Mountain reported Q4 2025 total revenues of $1.8 billion, up 16.6% year-over-year (14.9% constant currency).
- Q4 net income was $93 million, down 12% YoY, while adjusted EBITDA reached $705 million, up 17% YoY, and AFFO was $430 million, up 17%.
- Full year 2025 revenue was $6.9 billion, a 12.2% increase, with adjusted EBITDA of $2.6 billion, up 15%, and AFFO of $1.5 billion, up 15%.
- Iron Mountain issued 2026 guidance targeting 10–13% revenue growth and 12–14% adjusted EBITDA growth.
Feb 12, 2026, 11:50 AM
Iron Mountain announces Q4 and full year 2025 results
IRM
Earnings
Guidance Update
Dividends
- Record quarterly and full-year revenues of $1.8 billion (+16.6% YoY) and $6.9 billion (+12.2% YoY), with organic growth of 14% in Q4 and 10% for the full year.
- Q4 net income of $93 million and full-year net income of $152 million, alongside Q4 AFFO of $430 million ($1.44 per share) and FY AFFO of $1.5 billion ($5.17 per share).
- Adjusted EBITDA reached $705 million in Q4 and $2.6 billion for FY 2025.
- Issued 2026 guidance targeting 10–13% revenue growth and 12–14% Adjusted EBITDA growth; declared a Q1 2026 dividend of $0.864 per share.
Feb 12, 2026, 11:45 AM
Iron Mountain delivers record Q4 results
IRM
Earnings
Guidance Update
Dividends
- Iron Mountain reported Q4 FFO of $1.01 and revenue of $1.84 billion, capping a year of record financial performance.
- Storage rental revenue rose 13% to $1.06 billion and service revenue jumped 22% to $782 million, driving adjusted EBITDA up 17% to $705 million and AFFO up 16%.
- Management issued 2026 guidance targeting 12% revenue growth to $7.625–$7.775 billion, 13% adjusted EBITDA growth, and an 11% rise in AFFO per share.
- The board declared a quarterly dividend of $0.864 per share (payable April 3), though market reaction was mixed amid concerns over elevated capital spending and leverage.
Feb 11, 2026, 11:06 PM
Iron Mountain outlines growth strategy at Barclays Global Technology Conference
IRM
Guidance Update
New Projects/Investments
- Matterhorn strategy to drive double-digit revenue growth, with full-year growth over 12% and exiting at 14%; no additional restructuring charges planned (Barry Hytinen).
- Data center portfolio of 450 MW (98% leased), with 200 MW under construction (≈67% pre-leased); 2025 leasing expected at 60+ MW, and >100 MW targeted in 2026.
- Asset Lifecycle Management (ALM) revenue set to rise from $38 m in 2021 to $600 m in 2025; $30 b TAM, split ~60% enterprise (20–30% margins) and 40% hyperscale (low-double-digit margins).
- Digital business scaling from ~$100 m to $550 m in 2025 via the DXP platform, anchored by new multi-year VA and IRS document-processing contracts.
- Capital allocation: maintain 5.0x leverage, dividend payout at low-60s% AFFO with ~10% annual increases; data center capex yields 10–11% levered returns, pushing revenue past $1 b in 2026.
Dec 11, 2025, 6:25 PM
Iron Mountain outlines growth strategy at Barclays Global Technology Conference
IRM
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- CFO reports completion of Matterhorn restructuring, delivering 12% full-year revenue growth and exiting at ~14%, with no further restructuring and guidance for another record year of double-digit growth in 2026.
- Data center operations span 450 MW (98% leased) with ~200 MW under construction (≈2/3 pre-leased); expects 60+ MW leasing in 2025 and anticipates >100 MW in 2026.
- Asset Lifecycle Management revenue grew from $38 M in 2021 to $600 M in 2025, with ~30% organic growth and a 60/40 enterprise-to-hyperscale mix; memory pricing is up ~50%, strengthening the Q4 ALM outlook.
- Maintains 5.0× leverage, targets a low-60s% AFFO dividend payout (10% dividend increases for three consecutive years), and invests in data centers with 10–11% cash-on-cash returns, driving revenue from $800 M in 2025 to >$1 B in 2026.
Dec 11, 2025, 6:25 PM
Iron Mountain outlines growth strategy and portfolio expansion at Barclays conference
IRM
Guidance Update
New Projects/Investments
- Iron Mountain’s Matterhorn strategy has driven 12% full-year growth and is closing the year at ~14%, with guidance for another record double-digit growth in 2026.
- The data center segment operates 450 MW at 98% lease-up, with 200 MW under construction (≈66% pre-leased) and expects 60+ MW leased in 2025 and over 100 MW in 2026.
- Asset Lifecycle Management revenue is set to reach $600 M in 2025 (30% organic growth), tapping a $30 B TAM, split ~60% enterprise (20–30% margins) and 40% hyperscale (low-teens to 20% margins).
- Digital business, powered by the DXP platform, will be $550 M in 2025 (pre-IRS contract) and includes a multi-year U.S. Treasury tax return processing award.
- Capital allocation remains disciplined with 5.0× leverage, a low-60s% AFFO payout ratio, and data center investments delivering 10–11% levered returns, supporting growth to $1 B+ revenue in 2026.
Dec 11, 2025, 6:25 PM
Quarterly earnings call transcripts for IRON MOUNTAIN.
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