IRON MOUNTAIN INC (IRM) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that IRON MOUNTAIN INC surfaced in its latest filing.

• As of December 31, 2025, the company operated in 61 countries.2025-12-31
• As of December 31, 2025, the company operated approximately 1,340 facilities worldwide, including approximately 530 in the United States.2025-12-31
• As of December 31, 2025, total long-term debt was approximately $16,544.5 million.2025-12-31
• As of December 31, 2025, stockholders' deficit was approximately $981.0 million.2025-12-31
• As of December 31, 2025, cash and cash equivalents were approximately $158.5 million.2025-12-31
• The company elected REIT status beginning with the 2014 taxable year.2014
• Subsidiaries have elected or are expected to elect REIT status.
• The certificate of incorporation prohibits any stockholder from owning more than 9.8% in value of all classes or series of capital stock.
• Outstanding senior notes may need to be repurchased upon a change of control event as required by the indentures.
• The Credit Agreement may restrict repurchases of outstanding senior notes upon a change of control.
• The company has service-level commitment obligations to certain data center customers.
• The company relies on third-party telecommunications carriers to provide internet connectivity to its data centers.
• A significant portion of ALM revenue is derived from a limited number of clients, with revenue tied to cyclical decommissioning projects, and many purchasers of decommissioned IT asset components are geographically concentrated, particularly in China.
• Contracts with the United States Government require the use of personnel with security clearances.