Filing Flows › Iron Mountain (IRM) › Q3 2026 › vs Q2 2026
Iron Mountain (IRM) Q3 2026 vs Q2 2026 (quarter over quarter)
Iron Mountain's revenue fell $38.4M (-2%) from $2.0B in Q2 2026 to $2.0B in Q3 2026. The biggest changes: Information Destruction −$50.3M (-11%); Data Center +$10.7M (+4%); Records Management +$2.2M (+0.2%). Operating margin 20.6% against 18.4% (+2.2 pts).
Iron Mountain, Q3 2026: revenue $2.0B (+14% year over year), operating margin 20.6%, net earnings $124M, operating cash flow $316M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 20.6% | 18.4% | +2.2 pts |
| Net margin | 6.2% | 5.0% | +1.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Records Management | $1.2B | $1.2B | $2.2M | +0.2% |
| Information Destruction | $395M | $445M | −$50.3M | -11% |
| Data Center | $274M | $263M | $10.7M | +4% |
| Data Management | $122M | $123M | −$1.2M | -0.9% |
| Revenue | $2.0B | $2.0B | −$38.4M | -2% |
| Operating profit | $411M | $374M | $37.0M | +10% |
| Costs & expenses | $1.6B | $1.7B | −$75.5M | -5% |
| Pre-tax earnings | $186M | $121M | $64.7M | +54% |
| Other expense, net | $225M | $253M | −$27.7M | -11% |
| Cost of revenue | $927M | $959M | −$32.0M | -3% |
| SG&A | $349M | $402M | −$53.6M | -13% |
| Other operating costs | $305M | $295M | $10.0M | +3% |
| Net earnings | $124M | $101M | $22.7M | +22% |
| Minority interests | $4.7M | $4.7M | $66K | +1% |
| Income tax | $56.7M | $14.8M | $41.9M | +283% |
| Operating cash sources | $447M | $440M | $7.2M | +2% |
| Depreciation & amortization | $292M | $281M | $10.4M | +4% |
| Share-based compensation | $30.9M | $56.8M | −$25.9M | -46% |
| Working capital & other | $131M | −$110M | $241M | — |
| Operating cash flow | $316M | $549M | −$233M | -43% |
| Capital expenditures | $618M | $588M | $29.8M | +5% |
| Negative free cash flow (OCF − capex) | $302M | $38.9M | $263M | +676% |
Questions
How much did Iron Mountain's revenue grow quarter over quarter in Q3 2026?
Iron Mountain's revenue fell $38.4M (-2%) from $2.0B in Q2 2026 to $2.0B in Q3 2026.
What drove Iron Mountain's revenue change in Q3 2026?
Information Destruction −$50.3M (-11%); Data Center +$10.7M (+4%); Records Management +$2.2M (+0.2%).