Iron Mountain Inc IRM

Revenue Intelligence Report • 36 quarters of SEC filing data • Updated 2026-03-06

Iron Mountain Inc's revenue is primarily driven by its strategic investment in SG&A, with each dollar spent generating an impressive $6.19 in long-term revenue. Despite a recent holdout test indicating a 20.3% prediction error, the company maintains a forecasted revenue of $7 billion for the fiscal year, reflecting a modest 1.5% year-over-year growth. With a model accuracy of 57.5% MAPE, investors should consider the potential for improved forecasting as the company continues to leverage its operational efficiencies. Overall, the outlook remains cautiously optimistic, supported by strong ROI from SG&A expenditures.

Next FY Revenue

$7.01B

+1.5% YoY

SG&A Multiplier

$6.19 per $1

Model Accuracy

57.5% MAPE

Holdout validation: The model predicted $2B vs the actual $2B — an error of 20.3%.

Note: Iron Mountain Inc does not report R&D expenses separately. This analysis uses SG&A spending only.

Investor insight: Actual revenue ($2B) came in 20% below the spending-based forecast ($2B). This suggests spending is not yet translating to revenue at historical rates.

Revenue Forecast

Quarterly Detail

Quarter	Model Forecast	Actual	95% Range	YoY Growth	Status
Q4 2025	$2B	$2B	$1B – $3B	+40.3%	✓ In range
Q2 2026	$2B		$0B – $3B	+11.8%
Q3 2026	$1B		$-1B – $3B	-52.5%
Q4 2026	$2B		$0B – $5B	+35.0%
Q1 2027	$2B		$-1B – $5B	+10.9%

How Spending Drives Revenue

Reading this chart: Each line shows the cumulative revenue generated per $1 spent over subsequent quarters. The effect builds over 4-5 quarters as investments mature.

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