The acquisition of Regency Technologies in January 2024 expands Iron Mountain's asset lifecycle management (ALM) business. This strategic move diversifies service offerings and taps into a growing market.

Iron Mountain continues to invest in Project Matterhorn, a global program designed to accelerate growth and transform the operating model. Restructuring and other transformation expenses related to Project Matterhorn were $46.5 million for the three months ended June 30, 2024.

The company continues to expand its data center business, as evidenced by the entry into new credit agreements to finance the construction of various data centers. This supports growth in a high-demand sector.

Management has concluded that disclosure controls and procedures are effective as of June 30, 2024. This indicates a strong internal control environment and reliable financial reporting.

Management is actively investing in strategic initiatives such as Project Matterhorn and acquisitions to drive future growth. This proactive approach positions the company for long-term success.

The company is in compliance with leverage and fixed charge coverage ratios under its debt agreements. This demonstrates sound financial management and adherence to contractual obligations.

The company's ability to pay interest on or refinance indebtedness depends on its future performance, working capital levels, and capital structure, which are subject to economic, financial, competitive, legislative, regulatory and other factors which may be beyond our control.

The company is involved in litigation from time to time in the ordinary course of business, including litigation arising from damage to customer assets in our facilities caused by fires and other natural disasters.

Unexpected events, including those resulting from climate change or geopolitical events, could disrupt our operations and adversely affect our reputation and results of operations.

The company's organic storage rental revenue growth is primarily driven by revenue management in our Global RIM Business segment, where we expect volume to be relatively stable in the near term, as well as by growth in our Global Data Center Business segment, primarily driven by lease commencements.

The company's organic service revenue growth is primarily due to increases in our service activity. We expect organic service revenue growth in 2024 to benefit from our new and existing digital offerings and asset lifecycle management ("ALM") business, as well as our traditional services.

We expect continued total revenue and Adjusted EBITDA growth in 2024 as a result of our focus on new product and service offerings, innovation, customer solutions and market expansion in line with our Project Matterhorn objectives.

Adjusted EBITDA Margin increased from 35.0% to 35.5% for the three months ended June 30, 2024. This indicates improved profitability and cost management.

Project Matterhorn focuses on the formation of a solution-based sales approach that is designed to allow us to optimize our shared services and best practices to better serve our customers' needs.

A 100 basis point increase in Adjusted EBITDA Margin primarily driven by ongoing cost containment measures and revenue management.

The company's ability or inability to execute our strategic growth plan, including our ability to invest according to plan, grow our businesses (including through joint ventures or other co-investment vehicles), incorporate alternative technologies (including artificial intelligence) into our offerings, achieve satisfactory returns on new product offerings, continue our revenue management.

Failures to implement and manage new IT systems could disrupt operations and adversely affect our reputation and results of operations.

The impact of attacks on our internal information technology ("IT") systems, including the impact of such incidents on our reputation and ability to compete and any litigation or disputes that may arise in connection with such incidents.

Excluding capital expenditures associated with potential future acquisitions, we expect total capital expenditures of approximately $1,500.0 million for the year ending December 31, 2024. Of this, we expect capital expenditures for growth investment of approximately $1,350.0 million and recurring capital expenditures of approximately $150.0 million.

The company's ability to pay interest on or to refinance our indebtedness depends on our future performance, working capital levels and capital structure, which are subject to general economic, financial, competitive, legislative, regulatory and other factors which may be beyond our control.

On August 1, 2024, we declared a dividend to our stockholders of record as of September 16, 2024 of $0.715 per share, payable on October 3, 2024.

The company's ability or inability to execute our strategic growth plan, including our ability to invest according to plan, grow our businesses (including through joint ventures or other co-investment vehicles), incorporate alternative technologies (including artificial intelligence) into our offerings, achieve satisfactory returns on new product offerings, continue our revenue management, expand and manage our global operations, complete acquisitions on satisfactory terms, integrate acquired companies efficiently and transition to more sustainable sources of energy.

The costs of complying with and our ability to comply with laws, regulations and customer requirements, including those relating to data privacy and cybersecurity issues, as well as fire and safety and environmental standards.

Unexpected events, including those resulting from climate change or geopolitical events, could disrupt our operations and adversely affect our reputation and results of operations.

Changes in customer preferences and demand for our storage and information management services, including as a result of the shift from paper and tape storage to alternative technologies that require less physical space.

Changes in the political and economic environments in the countries in which we operate and changes in the global political climate.

Other trends in competitive or economic conditions affecting our financial condition or results of operations not presently contemplated.