IRON MOUNTAIN INC FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $6.9B |
| Gross margin | — not reported |
| Operating income | $1.2B |
| Net income | — not reported |
| Diluted EPS | $0.49 |
| Cash & equivalents | $158.5M |
| Total assets | $21.1B |
| Long-term debt | $16.4B |
Key takeaway
Iron Mountain completed Project Matterhorn in 2025, having spent $574.4 million cumulatively (including $195.9 million in 2025) to transform its operating model for growth.
🔒 4 more takeaways in the full analysis
Beneath the surface
Reported net income of $152.3 million diverges sharply from Adjusted EBITDA of $2.57 billion, showing how heavily interest expense ($829.3M), D&A ($1.02B), restructuring ($195.9M), and other expenses ($118.5M) weigh on GAAP results.
🔒 4 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 8 more findings — plus insider trades, activist stakes, and 8-K events for IRM.
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