Iron Mountain (IRM) Q3 2025 10-Q Quarterly Report
Iron Mountain (IRM) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 5, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Iron Mountain Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue $1.75B in Q3 2025, up 12.6% YoY from $1.56B in Q3 2024
- • Adjusted EBITDA margin 37.6% vs 36.5% YoY; Net income $84.3M profit vs -$33.6M loss YoY in Q3
- • Best segment: Global Data Center, revenue +33.2% to $204.1M; Adjusted EBITDA margin 52.6% vs 43.6% YoY
- • Worst segment: Global RIM margin down slightly to 44.7% vs 45.1%; revenue +6.2% to $1.34B
- • Operating cash flow increased $74.9M YoY to $840M; capital expenditures $1.76B up from $1.17B, focusing on data centers
- • Declared Q4 dividend $0.864/share; ongoing Project Matterhorn restructuring costs $152.4M YTD
- • Credit facility amendment increased Term Loan A to $500M; $1.39B Euro Notes issued to repay Revolving Credit Facility and upcoming GBP Notes
- • Management reaffirms liquidity through operations, cash on hand, and financing; expects $1.95B total CapEx for 2025 with $1.8B growth investment
Risk Factors
- • New risk: Project Matterhorn transformation costs $530.9M through Sept 2025, risk of execution delays or cost overruns impacting financials
- • Updated risk: Digital offerings and ALM business driving service revenue growth, critical to sustaining organic growth into 2026
- • Regulatory risk: Tax structural rate 14.8% vs 15.1% prior year, includes discrete tax items impacting provision for income taxes and adjusted EPS
- • Operational risk: Stability in Global RIM segment volume near-term; lease commencements growth key in Global Data Center segment performance
- • Financial risk: Interest expense increased to $209.7M in Q3 2025 from $186.1M prior year quarter, reflecting higher debt servicing costs
Iron Mountain Q3 2025 Quarterly FinancialsXBRL
Revenue
$1.8B
▲ +12.6% YoY▲ +2.5% QoQ
Net Income
$84M
▲ +350.7% YoY▲ +287.6% QoQ
Net Margin
4.8%
▲ +696bp YoY▲ +743bp QoQ
Source: XBRL data from Iron Mountain Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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