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Mar 31, 2022
Iron Mountain Q1 2022 Earnings Report
Reported record quarterly revenue and adjusted EBITDA.
Key Takeaways
Iron Mountain reported record financial and operating results for Q1 2022, with total revenues of $1.25 billion, a 15.3% increase compared to Q1 2021. Adjusted EBITDA was $431 million, a 13.3% increase. The company signed 35 megawatts in data center leasing and raised its full-year projection to 130 megawatts.
Total revenues increased by 15.3% to $1.25 billion compared to the first quarter of 2021.
Net income for the first quarter was $41.7 million, compared to $46.6 million in the first quarter of 2021.
Adjusted EBITDA increased by 13.3% to $431.0 million compared to the first quarter of 2021.
AFFO per share was $0.91 for the first quarter, compared to $0.81 in the first quarter of 2021, an increase of 11.4%.
Iron Mountain
Iron Mountain
Iron Mountain Revenue by Segment
Revenue by Segment
Storage Rental Revenue
CapyFin.comService Revenue
CapyFin.com Forward Guidance
Iron Mountain affirmed full year 2022 guidance, despite deconsolidating the businesses included in the acquisition of OSG Records Management Limited (excluding Ukraine), which in 2021 represented approximately $45 million of revenue and approximately $15 million of EBITDA
Revenue & Expenses
Visualization of income flow from segment revenue to net income