Iron Mountain reports record Q2 revenue driven by data center demand

Iron Mountain reported record second-quarter 2026 results, driven largely by growth in its data center, asset lifecycle management, and digital solutions businesses. Revenue rose 19% year over year to $2.03 billion, while adjusted EBITDA increased 16% to $727 million.

The data center segment, fueled by demand for AI infrastructure, generated $263 million in revenue, a 39% increase from the previous year. The company has seen significant leasing activity, including a 10-megawatt lease in Amsterdam and a 51-megawatt agreement in Mumbai. CEO Will Meaney noted that the company expects to "meaningfully exceed" its original 100-megawatt full-year leasing target, with approximately 325 megawatts of capacity expected to be energized over the next 24 months.