Operating

Iron Mountain·Cash Flow Statement·13 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Net cash from operating activities	$382.2M	$252.9M	$431.6M	$197.3M	$375.1M	$267.6M	$500M	$338.6M
Depreciation and amortization	$158.9M	$164.3M	$162.4M	$162.4M	$180.6M	$189.5M	$198.4M	$192.1M
Depreciation	$158.9M	$164.3M	$162.4M	$162.4M	$180.6M	$189.5M	$198.4M	$192.1M
Net income	$34.6M	-$33.7M	$105.7M	$16.2M	-$43.3M	$86.2M	$93.1M	$149M
Amortization	$71.7M	$74.6M	$78.9M	$77.6M	$79.8M	$81.5M	$87.4M	$83.8M
Change in other liabilities	$123M	-$113.4M	$141M	-$50M	$141.7M	-$94.7M	$205.1M	-$69.6M
Increase Decrease In Operating Assets	$56.4M	—	$32.6M	$56.1M	$79.2M	$20.6M	$106.8M	$65.9M
Stock-based compensation	$29.9M	$29.6M	$44.6M	$26.1M	$60.4M	$32.1M	$21.7M	$28.3M
Business Combination, Contingent Consideration Arrangements, Gain (Loss) On Remeasurement Of Contingent Consideration, Liability	-$7.4M	-$7.4M	-$7.4M	$0	—	—	—	-$17.8M
Foreign Currency Transaction Gain (Loss), Unrealized and Adjustments, Noncash Items, to Reconcile Net Income (Loss) to Cash Provided by Used in Operating Activities, Other	$17.7M	$87.8M	—	$20.6M	$25.7M	$879K	$901K	-$8.4M
Gain (Loss) on Sale of Assets and Asset Impairment Charges	-$2.8M	-$5.1M	—	-$5.6M	$962K	-$3.4M	-$16.7M	-$7.6M
Deferred income taxes	-$1.6M	-$8.6M	-$32.4M	-$6.4M	$8.9M	-$12.2M	-$37.9M	$2.3M
Revenue reduction associated with amortization of customer inducements and data center above- and below-market leases	$1.5M	$1.3M	$1.2M	$1.3M	$1.7M	$1.5M	$1.7M	$1.5M