Iron Mountain Incorporated (delaware) · NYSE:IRM
Iron Mountain Incorporated (delaware) — Iron Mountain — Q1 2026 Earnings Presentation
23 slides from Iron Mountain Incorporated (delaware)'s earnings presentation, Apr 30, 2026
Slide 1: Q1 2026 Earnings Presentation
Q1 2026 Earnings Presentation April 30, 2026
Slide 2: Forward Looking Statements
FORWARD LOOKING STATEMENTS We have made statements in this presentation that constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements concern our current expectations regarding
Slide 3: Company Overview
COMPANY OVERVIEW
Slide 4: Iron Mountain Snapshot (NYSE: IRM)
IRON MOUNTAIN SNAPSHOT (NYSE: IRM) Iron Mountain is a global leader in information management services Financial Strong Leadership Positions in Global Businesses $47B $170B Records Management Data Center Enterprise Value Total Addressable Market ♦ 735M+ cubic feet of records storage volume ♦ Total d
Slide 5: Growth Strategy Delivering Record Results
GROWTH STRATEGY DELIVERING RECORD RESULTS ● Growth strategy has successfully accelerated enterprise growth ahead of our financial targets through investments in large and growing global markets and leveraging our enterprise-wide commercial platform to cross-sell solutions across our more than 240,00
Slide 6: Driving Sustained Double-Digit Revenue Growth
DRIVING SUSTAINED DOUBLE-DIGIT REVENUE GROWTH Growth Businesses Provide Increasing Tailwind to Driving Double-Digit Total Consolidated Growth ● Growth Businesses of Data Center, Asset Lifecycle Management (ALM), and Digital Solutions, will have an outsized impact to consolidated growth as they conti
Slide 7: Strong Leadership Positions in Global Businesses
STRONG LEADERSHIP POSITIONS IN GLOBAL BUSINESSES Records Management Asset Lifecycle and Data Center Management Digital Solutions (ALM) Synergistic Business Model Decades-long relationships built on trust Significant cross-selling opportunities Strong reputation for security and chain of custody End-
Slide 8: Global RIM: Records Management + Digital Solutions
GLOBAL RIM: Records Management + Digital Solutions ● Iron Mountain is a trusted guardian of information and assets for 240,000+ customers with the largest global footprint in records management ● Global RIM segment drives substantial cash flow and funds growth investments across the business ● In th
Slide 9: Data Center: Executing Multi-Year Growth Plan
DATA CENTER: Executing Multi-Year Growth Plan Strong Industry Demand Outlook ○ Data center development remains very strong with industry capacity expected to increase at a 15-25% CAGR ○ Hyperscale demand for AI / Inference data centers is growing meaningfully as industry shifts from AI training to m
Slide 10: ALM: Capitalizing on Multi-Billion Dollar Growth Opportunity
ALM: Capitalizing on Multi-Billion Dollar Growth Opportunity ● We are a global market leader in the highly fragmented, growing $35 billion ALM market with significant long-term growth potential across the enterprise and data center decommissioning markets with low capital investment requirements ● I
Slide 11: Q1 2026 Results and 2026 Outlook
Q1 2026 RESULTS AND 2026 OUTLOOK
Slide 12: Record Q1 2026 Results
RECORD Q1 2026 RESULTS Three Months Ended YoY% Change Key Highlights 3/31/26 3/31/25 Reported $ Constant Fx ● Record Q1 results with strength across business $ in millions, except per share data ○ Total Revenue growth of 22%, including organic growth of 17% Global RIM $1,404 $1,256 12% 9% ○ Adjusted
Slide 13: 2026 Guidance: Positioned for Another Record Year
2026 GUIDANCE: POSITIONED FOR ANOTHER RECORD YEAR ($ in millions, except per share data) Full Year 2026 2026 Y/Y % Chg. Y/Y Guidance (1) New at Midpoint Previous Q2 2026 % Chg. Revenue $7,825 - $7,925 ~14% $7,625 - $7,775 ~$1,965 ~15% Adjusted EBITDA $2,925 - $2,965 ~14% $2,875 - $2,925 ~$715 ~14% A
Slide 14: Capital Investments and Returns
CAPITAL INVESTMENTS AND RETURNS Investing in high ROIC opportunities that drive double-digit growth ● Our business generates operating cash flow of $1.5 to $2.0 billion annually that more than covers recurring capex and the dividend, with excess cash flow invested in growth ● The growth in Adjusted
Slide 15: Investment Takeaways
INVESTMENT TAKEAWAYS 1 Strong Foundation ❖ Global leader in multiple businesses with strong and increasing margins ❖ Highly recurring business model with decades-long relationships with 240,000+ customers, including 95% of the Fortune 1000 built on a history of strong customer satisfaction, operatio
Slide 16: Appendix
APPENDIX 16
Slide 17: Q1 Reconciliations
Q1 RECONCILIATIONS NET INCOME (LOSS) TO ADJUSTED EBITDA REPORTED EPS TO ADJUSTED EPS (1) The difference between our effective tax rates and our structural tax rate (or adjusted effective tax rates) for the three months ended March 31, 2026 and March 31, 2025 is primarily due to (i) the reconciling i
Slide 18: Q1 Reconciliations (Cont.)
Q1 RECONCILIATIONS (CONT.) NET INCOME (LOSS) TO FFO FFO TO AFFO (1) Includes depreciation expense related to owned real estate assets (land improvements, buildings, building and leasehold improvements, data center infrastructure and racking structures), excluding depreciation (1) Includes customer a
Slide 19: Full Year Reconciliations
FULL YEAR RECONCILIATIONS NET INCOME (LOSS) TO ADJUSTED EBITDA 19
Slide 20: Full Year Reconciliations (Cont.)
FULL YEAR RECONCILIATIONS (CONT.) NET INCOME (LOSS) TO FFO AND AFFO (1) Includes depreciation expense related to owned real estate assets (land improvements, buildings, building and leasehold improvements, data center infrastructure and racking structures), excluding depreciation related to real est
Slide 21: Definitions
DEFINITIONS Adjusted EBITDA We define Adjusted EBITDA as net income (loss) before interest expense, net, provision (benefit) for income taxes, depreciation and amortization (inclusive of our share of Adjusted EBITDA from our unconsolidated joint ventures), and excluding certain items we do not belie
Slide 22: Definitions (Cont.)
DEFINITIONS (CONT.) Funds From Operations, or FFO (Nareit), and FFO (Normalized) Funds from operations ("FFO") is defined by the National Association of Real Estate Investment Trusts as net income (loss) excluding depreciation on real estate assets, losses and gains on sale of real estate, net of ta
Slide 23: Elevate the power of your work
Elevate the power of your work. J\ RON MOUNTAIN®