Filing Flows › Iron Mountain (IRM) › Q2 2025
Iron Mountain (IRM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 6, 2025
Iron Mountain (IRM) reported revenue of $1.7B for the second quarter 2025 (Q2 2025), +12% from a year earlier and +7% from the quarter before. Operating margin was 15.2%, net loss $43.3M (2.5% of revenue).
Iron Mountain, Q2 2025: revenue $1.7B (+12% year over year), operating margin 15.2%, net loss $43.3M, operating cash flow $375M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +7% | +12% |
| Operating profit | $260M | +2% | — |
| Net earnings | −$43.3M | -372% | — |
| Operating cash flow | $375M | +90% | -2% |
What changed
Revenue was $1.7B in Q2 2025, up 12% year over year and up 7% from the previous quarter. Records Management was the largest line at 64% of revenue. Records Management added $0.09B year over year (up 8%), 48% of the total change. Data Management declined 5%.
Operating profit was $0.26B, a 15.2% margin (up 0.2 points year over year). Of the extra revenue versus a year earlier, 17% reached operating profit, above the 15% margin then. Total costs grew 11% against revenue growth of 12%. The fastest-growing cost line was SG&A (+13%). The quarter ended with a net loss of $0.04B, after a profit of $0.02B the previous quarter. Net interest and other expense of $0.29B was the main reason.
Operating cash flow was $0.38B (down 2% year over year). Non-cash charges added back $0.25B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items added $0.11B. Capital expenditures of $0.56B exceeded it, leaving free cash flow of −$0.18B.
Questions
What was Iron Mountain's revenue in the second quarter 2025?
Iron Mountain (IRM) reported revenue of $1.7B for the second quarter 2025 (Q2 2025), +12% from a year earlier and +7% from the quarter before.
Was Iron Mountain profitable in the second quarter 2025?
Operating profit was $260M (15.2% of revenue) and net loss $43.3M.
Source: Iron Mountain 10-Q on SEC EDGAR.