IRM · 10-Q · 2026Q2

IRON MOUNTAIN INC

Filed 2026-08-05 · Real Estate · View original filing on EDGAR

Ranked Events

• Liquidity and Debt PositionImportance 64 · Surprise 42
  Cash from operating activities increased $315.4 million year over year to $887.8 million, while cash and cash equivalents ended the period at $204.8 million. Total long-term debt was $17,482.1 million gross and…
• DividendsImportance 64 · Surprise 42
  Iron Mountain paid $532.7 million of common-stock dividends during the six months ended June 30, 2026. On August 5, 2026, the company declared a $0.864-per-share dividend for stockholders of record on September 15,…
• Capital Expenditure ProgramImportance 64 · Surprise 42
  Iron Mountain spent $1,106.2 million in cash capital expenditures during the six months ended June 30, 2026, including $880.1 million for data-center growth investment. Total capital spend on an accrual basis was…
• Operating Margin DriversImportance 64 · Surprise 56
  Six-month 2026 operating income increased 49.5% year over year to $768.8 million, while operating expenses increased 14.6% to $3,196.5 million against 20.0% revenue growth. Adjusted EBITDA increased 18.8% to $1,435.0…
• FX / Currency ImpactImportance 63 · Surprise 64
  Foreign-currency transaction gains were $38.4 million for the six months ended June 30, 2026, compared with $116.8 million of losses in the prior-year period, producing a $155.2 million year-over-year improvement. The…
• Operating Expense TrendsImportance 59 · Surprise 48
  Six-month cost of sales increased $383.4 million, or 26.2%, to $1,848.4 million, raising its revenue ratio from 44.3% to 46.6%. Product cost of sales and other expense increased $221.1 million, or 96.7%, primarily in…
• Revenue Performance and MixImportance 59 · Surprise 48
  Six-month 2026 revenue increased 20.0% year over year to $3,965.2 million, including 13.8% growth in storage rental revenue to $2,229.4 million and 29.0% growth in service revenue to $1,735.8 million. Organic revenue…
• Datacenter Capacity ExpansionImportance 58 · Surprise 56
  The Global Data Center Business expanded rapidly, with organic segment revenue growth of 41.4% for the six months ended June 30, 2026, primarily from leases commencing during 2026 and prior periods. Growth investment…
• Interest Rate and Refinancing ExposureImportance 56 · Surprise 24
  Iron Mountain’s Credit Agreement and bond indentures impose leverage and fixed-charge coverage covenants that constrain acquisitions, dividends, additional debt, investments and asset sales. As of June 30, 2026, the…
• Guidance / OutlookImportance 52 · Surprise 42
  Iron Mountain expects continued total revenue and Adjusted EBITDA growth during 2026, supported by new product and service offerings, cross-selling, innovation, customer solutions and market expansion. Organic storage…
• Income Tax Rate ChangesImportance 51 · Surprise 64
  The six-month 2026 effective tax rate was 14.1%, compared with 773.6% in the prior-year period, when the rate was distorted by a net loss position. Six-month 2026 income-tax provision was $41.9 million on net income of…
• End-Market Demand TrendsImportance 47 · Surprise 48
  Iron Mountain’s organic storage rental revenue grew 11.8% for the six months ended June 30, 2026, driven by revenue management in the Global RIM Business and lease commencements and improved pricing in the Global Data…
• Manufacturing and CapacityImportance 41 · Surprise 48
  Iron Mountain’s ALM business experienced higher product cost of sales in line with increased product sales from new and existing customers, indicating expanded activity in its product-related operations. The company…
• Data Center Joint VentureImportance 40 · Surprise 42
  During the quarter ended June 30, 2026, Iron Mountain entered into an agreement with a partner to form Iron Mountain Data Centers Virginia 9 JV, LP. The transaction produced approximately $49.9 million of…
• Customer DynamicsImportance 31 · Surprise 32
  Iron Mountain reported service growth from both new and existing customers in its ALM business during the six months ended June 30, 2026. ALM product sales increased in line with demand from those customer groups,…
• Products and TechnologyImportance 26 · Surprise 24
  Global Digital Solutions and traditional records-management services were important drivers of organic service growth in the Global RIM Business during the first six months of 2026. Iron Mountain also highlighted new…

Revenue by Product (in thousands)