IRM · Full Picture

IRON MOUNTAIN INC — the full picture

Earnings window · 2026-07-15 to 2026-08-10 · anchored on the 10-Q report

One earnings window, everything merged: the filing, the call, press releases and news digests, folded into ranked threads.

What to look at first

  1. Capital Expenditure Program · Capital expenditurePriority 87
    -8.5% cash; 3 sources (press_release, sec_filing, transcript); 2 forward row(s); structured_verified
    Excluding capital expenditures associated with potential future acquisitions, expected total capital expenditures for year ending December 31, 2026: approximately $2,200.0 million; of which growth investment approx $2,050.0 million and recurring approx $150.0 million.
  2. Segment Revenue Performance · Revenue growth & mixPriority 84
    +90.3% revenue (realized); 4 sources (news, press_release, sec_filing, transcript); structured_verified
    Asset Lifecycle Management (ALM) Q2 2026 revenue: $288 million, an increase of $135 million or 88% year-on-year; organic increase more than $127 million or 82%.
  3. Guidance and Outlook · Guidance & outlookPriority 82
    +5.2% revenue; 4 sources (news, press_release, sec_filing, transcript); 11 forward row(s); quote_verified
    IRON MOUNTAIN INC updated full year 2026 guidance: total revenue $7.94 billion to $8.01 billion (midpoint ~16% growth), adjusted EBITDA $2.945 billion to $2.975 billion (midpoint ~15% growth), AFFO $1.76 billion to $1.78 billion or $5.87 to $5.93 per share (midpoint 15% and 14% growth respectively).
  4. Operating Expense Trends · Operating expenses (SG&A)Priority 82
    -27.5% operating_income (realized); 3 sources (press_release, sec_filing, transcript); structured_verified
    Product cost of sales and other for the six months ended June 30, 2026: $449,839 thousand, up $221,138 thousand or 96.7% vs prior year driven by ALM product sales increases.
  5. Operating Margin Drivers · Operating income & profitabilityPriority 74
    +8.6% operating_income (realized); 4 sources (news, press_release, sec_filing, transcript); structured_verified
    Q2 2026 Net Income: $106.1 million, compared with a Net Loss of $(43.3) million in Q2 2025
  6. Datacenter Demand Trends · Demand, orders & backlogPriority 71
    4 sources (news, press_release, sec_filing, transcript); 2 forward row(s); quote_verified
    IRON MOUNTAIN INC Data Center leasing in July 2026 included a 25-megawatt lease in London (fully leasing London 3) and a 10-megawatt lease in Amsterdam; also a 51-megawatt lease in Mumbai as part of a 10-year contract with a major hyperscaler.
  7. Liquidity and Debt Position · Debt, leverage & refinancingPriority 71
    -6.8% liability (realized); 2 sources (sec_filing, transcript); structured_verified
    Completed private offering on June 26, 2026 of 6.25% Notes due 2035 with aggregate principal amount $1,500,000 thousand; interest payable January 15 and July 15; par call date July 15, 2029; issued at par with net proceeds approx $1,481.8 million; $1,500.0 million outstanding as of June 30, 2026.
  8. Dividends · Buybacks & dividendsPriority 64
    -2.4% cash (realized); 4 sources (news, press_release, sec_filing, transcript); 1 forward row(s); structured_verified
    On August 5, 2026 Iron Mountain's Board declared a quarterly cash dividend of $0.864 per share for Q3 2026
  9. FX / Currency Impact · Currency / FXPriority 64
    2 sources (sec_filing, transcript); 1 forward row(s); quote_verified
    We have designated these cross-currency swap agreements as hedges of net investments in our Euro and Canadian dollar denominated subsidiaries and they require an exchange of the notional amounts at maturity.
  10. Datacenter Capacity Expansion · Capacity & footprint expansionPriority 59
    3 sources (press_release, sec_filing, transcript); 3 forward row(s); quote_verified
    IRON MOUNTAIN INC year-to-date data center leasing (including July) reached 110 megawatts and total remaining energization is 325 megawatts to be energized over next 24 months (company previously noted 400 MW energizing but now 325 MW remain).
  11. Interest Rate and Refinancing Exposure · Interest ratesPriority 51
    -2.3% net_income (realized); 2 sources (sec_filing, transcript); quote_verified
    As of June 30, 2026 we have approximately $1,032.0 million in notional value outstanding on our interest rate swap agreements and as of December 31, 2025 we had $1,349.0 million.
  12. Operating Cash Flow Trends · Cash flow generationPriority 51
    +3.9% cash (realized); quote_verified
    IRON MOUNTAIN INC stated the conclusion of Matterhorn restructuring in 2025 reduced a $100 million cash outflow in first half 2026 to $0 (impact reference: $100 million in first half 2025, 0 this year).

Threads by pillar

Revenue & Demand Priority 92 · 6 threads

Costs & Margins Priority 89 · 5 threads

Capital & Balance Sheet Priority 95 · 6 threads

Strategy & Portfolio Priority 70 · 4 threads

Legal, Regulatory & Policy Priority 35 · 1 thread

Guidance & Outlook Priority 82 · 1 thread

Macro & Market Conditions Priority 70 · 2 threads

Unclassified Priority 47 · 1 thread

Expected impact by metric

metricforward netforward grossrealized
assets+8.5%+8.5%—
cash-8.5%+8.5%+4.9%
revenue+5.5%+5.5%+91.8%
net_income+1.5%+1.5%+7.2%
operating_income+1.1%+1.1%-18.9%
margin——+1.4%
liability——-8.8%