Filing Flows › Iron Mountain (IRM) › Q2 2026 › vs Q1 2026
Iron Mountain (IRM) Q2 2026 vs Q1 2026 (quarter over quarter)
Iron Mountain's revenue rose $92.9M (+5%) from $1.9B in Q1 2026 to $2.0B in Q2 2026. The biggest changes: Information Destruction +$62.1M (+16%); Records Management +$22.4M (+2%); Data Center +$8.1M (+3%). Operating margin 18.4% against 20.4% (-2.0 pts).
Iron Mountain, Q2 2026: revenue $2.0B (+18% year over year), operating margin 18.4%, net earnings $101M, operating cash flow $549M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 18.4% | 20.4% | -2.0 pts |
| Net margin | 5.0% | 7.4% | -2.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Records Management | $1.2B | $1.2B | $22.4M | +2% |
| Information Destruction | $445M | $383M | $62.1M | +16% |
| Data Center | $263M | $255M | $8.1M | +3% |
| Data Management | $123M | $123M | $191K | +0.2% |
| Revenue | $2.0B | $1.9B | $92.9M | +5% |
| Operating profit | $374M | $395M | −$21.7M | -5% |
| Costs & expenses | $1.7B | $1.5B | $115M | +7% |
| Pre-tax earnings | $121M | $176M | −$55.2M | -31% |
| Other expense, net | $253M | $219M | $33.5M | +15% |
| Cost of revenue | $959M | $890M | $68.8M | +8% |
| SG&A | $402M | $373M | $29.6M | +8% |
| Other operating costs | $295M | $278M | $16.2M | +6% |
| Net earnings | $101M | $144M | −$42.2M | -29% |
| Minority interests | $4.7M | $5.3M | −$662K | -12% |
| Income tax | $14.8M | $27.1M | −$12.3M | -45% |
| Depreciation & amortization | $281M | $268M | $13.6M | +5% |
| Share-based compensation | $56.8M | $28.3M | $28.5M | +101% |
| Working capital & other | $110M | −$101M | $211M | — |
| Operating cash flow | $549M | $339M | $211M | +62% |
| Capital expenditures | $588M | $518M | $70.2M | +14% |
| Negative free cash flow (OCF − capex) | $38.9M | $179M | −$141M | -78% |
Questions
How much did Iron Mountain's revenue grow quarter over quarter in Q2 2026?
Iron Mountain's revenue rose $92.9M (+5%) from $1.9B in Q1 2026 to $2.0B in Q2 2026.
What drove Iron Mountain's revenue change in Q2 2026?
Information Destruction +$62.1M (+16%); Records Management +$22.4M (+2%); Data Center +$8.1M (+3%).