Iron Mountain Incorporated (NYSE: IRM) has reported its fourth-quarter and full-year 2025 financial results, demonstrating impressive growth across key performance metrics. The company achieved record quarterly and full-year revenues of $1.8 billion and $6.9 billion, respectively, reflecting year-over-year growth of 16.6% and 12.2%. Organic revenue growth was also notable, with a 14% increase year-over-year in the fourth quarter and a 10% increase for the full year.
Iron Mountain's growth businesses, including data center, digital, and asset lifecycle management (ALM), collectively experienced substantial year-over-year growth. These segments grew more than 40% in the fourth quarter and more than 30% for the full year.
In terms of net income, Iron Mountain reported $93 million for the fourth quarter and $152 million for the full year in 2025. Adjusted EBITDA for the fourth quarter was $705 million, and for the full year, it amounted to $2.6 billion. Additionally, the company generated quarterly and full-year adjusted funds from operations (AFFO) of $430 million and $1.5 billion, respectively.
The financial performance highlights for the fourth quarter and full year of 2025 are as follows:
- Total reported revenues for the fourth quarter were $1.8 billion, representing a 16.6% increase from the fourth quarter of 2024. Excluding the impact of foreign currency exchange, total reported revenues increased by 14.9% compared to the prior year.
- Net income for the fourth quarter was $93.1 million, while for the full year, it was $152.3 million.
- Adjusted EBITDA for the fourth quarter was $705.3 million, a 16.6% increase from the fourth quarter of 2024.
- AFFO was $429.7 million for the fourth quarter, representing a 16.8% increase from the fourth quarter of 2024.
Iron Mountain's board of directors declared a quarterly cash dividend of $0.864 per share of common stock for the first quarter of 2026.
Looking ahead, Iron Mountain issued strong guidance for 2026, projecting revenue growth of 10% to 13% and adjusted EBITDA growth of 12% to 14%. The company's confidence in continued double-digit revenue and profit growth in 2026 is supported by the performance of its growth businesses and the sustained growth trajectory of its physical records storage business.
Iron Mountain's impressive financial performance in 2025 reflects its commitment to delivering innovative solutions and its ability to drive exceptional performance across its business segments. The company's outlook for 2026 indicates a promising continuation of its growth trajectory, underpinned by strong data center leasing and the energization of 400 megawatts of capacity over the next 24 months.
Following these announcements, the company's shares moved 3.52%, and are now trading at a price of $95.93. For the full picture, make sure to review IRON MOUNTAIN INC's 8-K report.
