Filing Flows › Iron Mountain (IRM) › Q2 2026 › vs Q2 2025
Iron Mountain (IRM) Q2 2026 vs Q2 2025 (year over year)
Iron Mountain's revenue rose $317M (+19%) from $1.7B in Q2 2025 to $2.0B in Q2 2026. The biggest changes: Information Destruction +$148M (+50%); Records Management +$96.8M (+9%); Data Center +$73.5M (+39%). Operating margin 18.4% against 15.2% (+3.2 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 18.4% | 15.2% | +3.2 pts |
| Net margin | 5.0% | -2.6% | +7.6 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Records Management | $1.2B | $1.1B | $96.8M | +9% |
| Information Destruction | $445M | $297M | $148M | +50% |
| Data Center | $263M | $189M | $73.5M | +39% |
| Data Management | $123M | $124M | −$798K | -0.6% |
| Revenue | $2.0B | $1.7B | $317M | +19% |
| Operating profit | $374M | $260M | $114M | +44% |
| Costs & expenses | $1.7B | $1.5B | $203M | +14% |
| Pre-tax earnings | $121M | −$27.0M | $148M | — |
| Other expense, net | $253M | $287M | −$34.3M | -12% |
| Cost of revenue | $959M | $755M | $204M | +27% |
| SG&A | $402M | $390M | $11.9M | +3% |
| Other operating costs | $295M | $307M | −$12.2M | -4% |
| Net earnings | $101M | −$44.9M | $146M | — |
| Minority interests | $4.7M | $1.6M | $3.1M | +196% |
| Income tax | $14.8M | $16.3M | −$1.5M | -9% |
| Depreciation & amortization | $281M | $253M | $28.8M | +11% |
| Share-based compensation | $56.8M | $60.4M | −$3.6M | -6% |
| Working capital & other | $110M | $107M | $2.5M | +2% |
| Operating cash flow | $549M | $375M | $174M | +46% |
| Capital expenditures | $588M | $557M | $31.4M | +6% |
| Negative free cash flow (OCF − capex) | $38.9M | $182M | −$143M | -79% |
Questions
How much did Iron Mountain's revenue grow year over year in Q2 2026?
Iron Mountain's revenue rose $317M (+19%) from $1.7B in Q2 2025 to $2.0B in Q2 2026.
What drove Iron Mountain's revenue change in Q2 2026?
Information Destruction +$148M (+50%); Records Management +$96.8M (+9%); Data Center +$73.5M (+39%).