Iron Mountain reported Q3 2024 revenue of $1.56 billion, up 12.2% year-over-year, with storage rental revenue increasing 9.0% to $935.7 million and service revenue growing 17.4% to $621.7 million. Adjusted EBITDA rose 13.6% to $568.1 million, while Adjusted EBITDA margin improved to 36.5% from 36.0% in Q3 2023. However, net income declined to a loss of $33.7 million compared to $91.4 million profit last year.The Global Data Center Business segment showed strong performance with revenue up 20.1% to $153.2 million, driven by lease commencements and improved pricing. The company expanded its data center footprint through new credit agreements for Virginia facilities and continued investment in growth initiatives. The Global RIM Business segment revenue increased 6.6% to $1.26 billion with improved margins.The company maintained strong liquidity with $765.1 million in operating cash flow for the first nine months. Capital expenditures reached $1.17 billion, primarily focused on data center expansion. Strategic acquisitions included Regency Technologies for $200 million and Wisetek Solutions, strengthening Iron Mountain's asset lifecycle management capabilities. The company increased its quarterly dividend to $0.715 per share, demonstrating confidence in sustained growth.

Iron Mountain reported Q3 2024 revenue of $1.56 billion, up 12.2% year-over-year, with storage rental revenue increasing 9.0% to $935.7 million and service revenue growing 17.4% to $621.7 million. Adjusted EBITDA rose 13.6% to $568.1 million, while Adjusted EBITDA margin improved to 36.5% from 36.0% in Q3 2023. However, net income declined to a loss of $33.7 million compared to $91.4 million profit last year.The Global Data Center Business segment showed strong performance with revenue up 20.1% to $153.2 million, driven by lease commencements and improved pricing. The company expanded its data center footprint through new credit agreements for Virginia facilities and continued investment in growth initiatives. The Global RIM Business segment revenue increased 6.6% to $1.26 billion with improved margins.The company maintained strong liquidity with $765.1 million in operating cash flow for the first nine months. Capital expenditures reached $1.17 billion, primarily focused on data center expansion. Strategic acquisitions included Regency Technologies for $200 million and Wisetek Solutions, strengthening Iron Mountain's asset lifecycle management capabilities. The company increased its quarterly dividend to $0.715 per share, demonstrating confidence in sustained growth.