Filing Flows › Iron Mountain (IRM) › Q1 2025
Iron Mountain (IRM) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
Iron Mountain (IRM) reported revenue of $1.6B for the first quarter 2025 (Q1 2025), +8% from a year earlier and +0.7% from the quarter before. Operating margin was 16.0%, net earnings $16.0M (1.0% of revenue).
Iron Mountain, Q1 2025: revenue $1.6B (+8% year over year), operating margin 16.0%, net earnings $16.0M, operating cash flow $197M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | +0.7% | +8% |
| Operating profit | $254M | -10% | +4% |
| Net earnings | $16.0M | -85% | -78% |
| Operating cash flow | $197M | -54% | +52% |
What changed
Revenue was $1.6B in Q1 2025, up 8% year over year and up 1% from the previous quarter. Records Management was the largest line at 65% of revenue. Records Management added $0.06B year over year (up 6%), 51% of the total change. Data Management declined 8%.
Operating profit was $0.25B, a 16.0% margin (down 0.7 points year over year). Of the extra revenue versus a year earlier, 7% reached operating profit, below the 17% margin then. Total costs grew 9% against revenue growth of 8%. The fastest-growing cost line was Other operating costs (+15%). Net earnings were $0.02B, down 78% year over year. The effective tax rate was 47.8%.
Operating cash flow was $0.20B (up 52% year over year), 1215% of net earnings. Non-cash charges added back $0.23B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.08B. Capital expenditures of $0.67B exceeded it, leaving free cash flow of −$0.48B.
Questions
What was Iron Mountain's revenue in the first quarter 2025?
Iron Mountain (IRM) reported revenue of $1.6B for the first quarter 2025 (Q1 2025), +8% from a year earlier and +0.7% from the quarter before.
Was Iron Mountain profitable in the first quarter 2025?
Operating profit was $254M (16.0% of revenue) and net earnings $16.0M.
Source: Iron Mountain 10-Q on SEC EDGAR.