10-K · February 12, 2026
Iron Mountain describes a strategy of cross-selling end-to-end records, digital, data center and ALM solutions to a diversified base of >240,000 customers across 61 countries, leveraging scale and security. The company…
Earnings analysis · 10-Q
IRM earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Iron Mountain's Q1 2026 results highlighted robust revenue growth with total revenue at $1.94 billion, representing a year-over-year increase of 21.6%. EPS reported at $0.60 showed a significant 800.6% increase compared…
Read full summary
Iron Mountain's Q1 2026 results highlighted robust revenue growth with total revenue at $1.94 billion, representing a year-over-year increase of 21.6%. EPS reported at $0.60 showed a significant 800.6% increase compared to the prior year. The Global Data Center Business performed notably well with a 47.1% revenue growth, while the company anticipates continued strong growth driven by operational advancements and market expansion.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
Where revenue came from
The business segments reported by the company.
Shares of the segments disclosed in this filing, largest first.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.6
What stood out
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Strong Revenue Growth
Total revenue increased by $343.6 million or 21.6% YoY to $1.94 billion.
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Significant EPS Increase
Earnings per share rose to $0.60, up 800.6% compared to $0.05 in the same quarter last year.
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Adjusted EBITDA Growth
Adjusted EBITDA increased by $128.0 million, or 22.1%, to $707.9 million.
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Strong Performance in Data Centers
Global Data Center Business revenue surged by 47.1%, reflecting continued growth in lease commencements.
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Improved Operating Income
Operating income rose by 55.4% to $395.2 million compared to the previous year.
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Increase in Cash Flow from Operations
Operating cash flow increased by $141.3 million to $338.6 million, driven by higher net income.
What to watch
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Increased Debt Levels
Total long-term debt rose to approximately $17.1 billion, which may impact liquidity and financial stability.
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Interest Rate Increase Impact
Interest expense rose to $223.8 million, up from $194.7 million, due to higher average debt outstanding.
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Operational Risks in Data Centers
Higher pass-through power costs impacted operating margins in the Global Data Center segment.
Management's outlook
Management indicates potential for continued revenue and EBITDA growth driven by new product offerings and market expansion.
Earlier filings 4
10-Q · August 6, 2025
Iron Mountain's Q2 2025 results show a significant 11.6% increase in total revenue year-over-year, against a backdrop of net losses attributed to higher interest and operational costs. The company's EPS fell sharply to…
10-Q · May 1, 2025
Iron Mountain reported Q1 revenues of $1,592,529 (in thousands), up 7.8% year-over-year, with Adjusted EBITDA rising to $579,906 (in thousands) (+11.8%). GAAP diluted EPS fell to $0.05 from $0.25 a year ago and net…
10-K · February 14, 2025
Iron Mountain reported approximately $6.1 billion of annual revenue in 2024 and positions itself as a hybrid physical/digital information management company serving more than 240,000 customers in 61 countries (including…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.