Iron Mountain ( (IRM) ) has released its Q2 earnings. Here is a breakdown of the information Iron Mountain presented to its investors.
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Iron Mountain Incorporated is a global leader in information management services, providing solutions for information management, digital transformation, information security, data center, and asset lifecycle management to over 240,000 customers in 61 countries. The company is renowned for its commitment to safety, security, sustainability, and innovation.
In its second quarter of 2025, Iron Mountain reported a record quarterly revenue of $1.7 billion, marking an 11.6% increase from the previous year. The company also achieved record quarterly Adjusted EBITDA of $628 million and Adjusted Funds From Operations (AFFO) of $370 million, or $1.24 per share. The data center, digital, and asset lifecycle management businesses collectively grew by more than 30%, contributing significantly to the company’s financial performance.
Key financial highlights include a 10% increase in storage rental revenue and a 14% increase in service revenue compared to the same quarter last year. Despite a net loss of $43 million due to changes in exchange rates on intercompany balances, the company saw a 15% increase in Adjusted EBITDA and a 15% rise in AFFO. Iron Mountain’s strong operational performance has led to an increase in its full-year financial guidance.
Looking ahead, Iron Mountain’s management remains optimistic about the company’s growth trajectory, driven by the strength of its growth businesses and sustained performance in its physical records storage segment. The company anticipates continued revenue and profit growth, maintaining its industry-leading position in the information management sector.