Companies · IRM
Iron Mountain Inc.
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Nov 5, 2026
Iron Mountain Q3 2026: Data Center segment revenue surges 34% YoY, driving consolidated revenue to $1.99B as AI-fueled leasing momentum accelerates
Iron Mountain's Global Data Center Business delivered 34% segment revenue growth in Q3 2026 and 39.6% for the nine-month period, with Adjusted EBITDA margin expanding 160 basis points to 53.6% — the clearest signal that AI-driven lease commencements and improved pricing are compounding into structural margin expansion. Consolidated revenue reached $1.99 billion in Q3 2026 versus $1.75 billion in Q3 2025, with organic growth of 12.8% in the quarter and 15.6% year-to-date, supported by both RIM revenue management and ALM business expansion. Capital deployment remains heavily skewed toward data center construction at $1.34 billion of the $1.59 billion total growth capex spent in the nine months, with full-year capex guidance of approximately $2.2 billion signaling no deceleration in infrastructure investment.
Tone: bullishRevenue
$6.9B
IRM 10-K · FY 2025
Employees
29,400
Revenue FY2024
$6.1B
EBITDA margin
37.6%
Profile
IRM 10-K Item 1 · Feb 12, 2026Iron Mountain is a global REIT and information management company serving more than 240,000 customers across 61 countries, including approximately 95% of the Fortune 1000. The company operates across four principal areas: physical records management, digital solutions, data center infrastructure, and asset lifecycle management. Its approximately $6.9 billion in annual 2025 revenue is generated through recurring storage rental fees and service charges across a highly diversified customer base.
Read filing description ↓ Collapse description ↑
Iron Mountain Incorporated, a Delaware corporation, was founded in an underground facility near Hudson, New York in 1951 where it stored business records. Today, we are a global leader in information management services, and we are trusted by more than 240,000 customers in 61 countries, including approximately 95% of the Fortune 1000, to help unlock value and intelligence from their assets through services that transcend the physical and digital worlds. Our broad range of solutions address their information management, digital transformation, information security, data center and asset lifecycle management ('ALM') needs. Our longstanding commitment to safety, security, sustainability and innovation in support of our customers underpins everything we do. We currently serve customers across an array of market verticals — commercial, legal, financial, healthcare, technology, insurance, life sciences, energy, business services, entertainment and government organizations. Our strategy is to be the leading partner to our more than 240,000 customers by providing a broad range of end-to-end solutions leveraging our strong reputation for security and chain of custody, decades-long relationships built on trust, and global footprint and operational scale. With leadership positions in physical records management, digital solutions, data center, and asset lifecycle management, Iron Mountain serves as a key global partner for enterprises. As of December 31, 2025, we operated 31 data centers across 21 global markets, either directly or through unconsolidated joint ventures, with a total potential capacity of 1,340 MW in land and buildings currently owned or operated by us, making us among the largest global data center operators.
Primary products
- Records Management
- Data Management
- Global Digital Solutions
- Secure Shredding
- Media and Archive Services
- Consumer Storage
Business segments
End markets
Geographies
“We believe that competition for data center customers is based on availability of power, security measures, location, connectivity and rental rates, and we are confident in our ability to compete effectively in each of these areas.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total consolidated revenue grew from approximately $6.15 billion in 2024 to approximately $6.90 billion in 2025, driven by growth in the Global Data Center Business segment and continued revenue management gains in the Global RIM Business segment.
The rest of IRM is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.