Iron Mountain’s Revenue by Segment (2016-2023)

This statistic highlights Iron Mountain’s Revenue by Segment, split across Global RIM Business, Global Data Centre Business and Corporate division, reported on a quarterly basis from Q1 2016 onwards.

Iron Mountain’s Revenue by Segment  

Iron Mountain’s total revenue increased from $1036.64 million in Q3 2020 to $1130.15 million in Q3 2021, indicating a 9.02% growth on a year-on-year basis. The revenue in Q3 2021 increased by 0.93% compared to the previous quarter, Q2 2021.

Iron Mountain segregates its revenue into the following three segments:

(All figures in millions, except percentages)

1. Global RIM Business 

Global Records and Information Management includes five distinct offerings: (i)Records Management which stores physical records and provides healthcare information services, vital records services, courier operations, and the collection, handling, and disposal of sensitive documents, (ii)Data Management which provides storage and rotation of backup computer media as part of corporate disaster recovery plans, including service and courier operations, (iii)Global Digital Solutions which develops, implements and supports comprehensive storage and information management solutions for the complete lifecycle of our customers’ information, (iv)Secure Shredding which includes the scheduled pick-up of office records that customers accumulate in specially designed secure containers, and (v) Consumer Storage which provides on-demand, valet storage for consumers.

Iron Mountain’s revenue from Global RIM Business increased by 8.01% from $921.77 million in Q3 2020 to $995.58 million in Q3 2021 on a year-on-year basis. It also grew by 0.27% compared to $992.93 million earned in Q2 2021. This segment contributed to 88.09% of the company’s total revenue.

2. Global Data Centre Business

This segment provides enterprise-class data center facilities and hyper scale-ready capacity to protect mission-critical assets and ensure the continued operation of the customer’s IT infrastructure, with secure, reliable, and flexible data center options. 

Iron Mountain’s revenue from Global Data Centre Business increased by 21.66% from $72.81 million in Q3 2020 to $88.59 million in Q3 2021 on a year-on-year basis. It also grew by 15.08% compared to $76.98 million earned in Q2 2021. This segment contributed to 7.84% of the company’s total revenue.

3. Corporate and Other Business

This segment primarily consists of Adjacent Businesses and other corporate items. Adjacent Businesses is comprised of Technical expertise and Entertainment & media. The Corporate and Other Business segments also include costs related to executive and staff functions, including finance, human resources, and IT, which benefit the enterprise as a whole.

Iron Mountain’s revenue from Corporate and Other Businesses increased by 9.33% from $42.06 million in Q3 2020 to $45.98 million in Q3 2021 on a year-on-year basis. However, it decreased by 7.75% compared to $49.85 million earned in Q2 2021. This segment contributed to 4.07% of the company’s total revenue.

Overall Division 

Global RIM Business is the largest revenue-generating segment for Iron Mountain, contributing more than half of the total Revenue of the company. Global Data Centre Business is the second-largest revenue-generating segment followed by Corporate and Other Business Segment. All the Segments except Corporate and Other Business showed a positive increase in their revenue of Q3 2021 as compared to the previous quarter Q2 2021. Corporate and Other Business segment showed a decline in its revenue as compared to the previous quarter.

About the Company: 

Founded in an underground facility near Hudson, New York in 1951, Iron Mountain Incorporated, a Delaware corporation, has approximately 225,000 customers in a variety of industries in 56 countries around the world.

Iron Mountain helps organizations around the world protect their information, reduce storage costs, comply with regulations, facilitate corporate disaster recovery, and better use their information and IT infrastructure for business advantages, regardless of its life cycle stage, location or format. They offer comprehensive records and information management services and data management services, along with the expertise and experience to address complex storage and information management challenges such as legal and regulatory compliance, rising storage rental costs, and disaster recovery requirements.

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