Iron Mountain Incorporated (IRM): Ansoff Matrix Analysis [Jan-2025 MISE À JOUR]

Dans le paysage rapide de la gestion de l'information en évolution, Iron Mountain Incorporated se tient à la pointe de la transformation stratégique, exerçant la puissante matrice Ansoff comme une boussole pour une croissance sans précédent. En naviguant méticuleusement à la pénétration du marché, au développement, à l'innovation des produits et à la diversification stratégique, l'entreprise ne s'adapte pas seulement aux perturbations numériques - il est en train de remodeler l'ensemble de l'écosystème du stockage, de la préservation et de la gestion intelligente. Ce plan stratégique révèle comment Iron Mountain est prêt à redéfinir les solutions d'information d'entreprise, transformant les défis en opportunités sur les marchés mondiaux.

Iron Mountain Incorporated (IRM) - Matrice Ansoff: pénétration du marché

Développez les services de stockage du centre de données et d'archivage numérique aux clients de l'entreprise existants

En 2022, Iron Mountain a déclaré 4,6 milliards de dollars de revenus totaux, les services numériques représentant 1,1 milliard de dollars de ce total. La société gère plus de 1,4 milliard de pieds cubes de dossiers physiques et 15 pétaoctets de données numériques pour les clients d'entreprise.

Métrique de service numérique	2022 Performance
Capacité de stockage numérique	15 pétaoctets
Clients numériques d'entreprise	3,700+
Revenus de services numériques	1,1 milliard de dollars

Augmenter la vente croisée des solutions de gestion de l'information

Le taux de rétention actuel de la clientèle d'Iron Mountain est de 87%, avec une valeur à vie moyenne de 2,3 millions de dollars.

• Nombre moyen de services supplémentaires par entreprise Client: 2,4
• Taux de réussite de vente croisée: 42%
• Revenus potentiels de la vente croisée: 350 millions de dollars

Mettre en œuvre des campagnes de marketing ciblées

L'investissement marketing en 2022 était de 127 millions de dollars, en mettant l'accent sur les services de transformation numérique.

Métrique marketing	Valeur
Dépenses marketing	127 millions de dollars
Taux de conversion de campagne numérique	6.3%
Nouveau coût d'acquisition du client	$45,000

Améliorer les stratégies de tarification pour les entreprises de taille moyenne

Le segment des entreprises de taille moyenne représente 35% du marché potentiel d'Iron Mountain, avec une pénétration actuelle à 22%.

• Revenu total de mi-parcours adressable: 780 millions de dollars
• Revenus de mi-marché actuels: 420 millions de dollars
• Expansion potentielle du marché: 360 millions de dollars

Améliorer les programmes de rétention de la clientèle

L'investissement du programme de rétention de clientèle en 2022 était de 93 millions de dollars, en mettant l'accent sur les offres de services personnalisées.

Métrique de rétention	Performance
Taux de rétention de la clientèle	87%
Investissement du programme de rétention	93 millions de dollars
Valeur à vie moyenne du client	2,3 millions de dollars

Iron Mountain Incorporated (IRM) - Matrice Ansoff: développement du marché

Élargir la présence géographique sur les marchés internationaux émergents

En 2022, Iron Mountain opère dans 53 pays avec 4,84 milliards de dollars de revenus totaux. Les marchés internationaux représentent 22,3% du total des revenus de l'entreprise, avec un potentiel de croissance significatif dans les économies émergentes.

Région	Potentiel de marché	Pénétration actuelle
l'Amérique latine	1,2 milliard de dollars	15% de part de marché
Asie-Pacifique	1,5 milliard de dollars	12% de part de marché
Emea	1,8 milliard de dollars	18% de part de marché

Cibler la nouvelle industrie verticale

Marché de la gestion des documents de la santé estimé à 8,3 milliards de dollars dans le monde en 2022.

• Potentiel du marché des services juridiques: 3,6 milliards de dollars
• Gestion des documents des services financiers: 5,2 milliards de dollars
• Répartition actuelle des revenus verticaux de l'industrie:
  • Immobilier: 35%
  • Services financiers: 25%
  • Santé: 15%

Développer des partenariats stratégiques

Investissements en partenariat technologique en 2022: 42 millions de dollars

Type de partenaire	Nombre de partenariats	Investissement annuel
Fournisseurs de technologie cloud	17	22 millions de dollars
Fournisseurs de stockage régionaux	23	12 millions de dollars
Entreprises de transformation numérique	9	8 millions de dollars

Créer des packages de services localisés

Revenus de forfait de service régional personnalisé: 276 millions de dollars en 2022

Tirer parti des tendances de transformation numérique

Croissance des revenus des services numériques: 18,5% en 2022, atteignant 612 millions de dollars

• Services d'archivage numérique: 287 millions de dollars
• Services d'intégration cloud: 225 millions de dollars
• Solutions numériques de gestion de la conformité: 100 millions de dollars

Iron Mountain Incorporated (IRM) - Matrice Ansoff: développement de produits

Développer des plateformes avancées de gestion de documents basées sur le cloud et d'archivage numérique

Iron Mountain a déclaré 4,7 milliards de dollars de revenus totaux pour 2022, avec des solutions numériques représentant 23% des revenus totaux. La société a investi 87 millions de dollars dans des initiatives d'infrastructure technologique et de transformation numérique au cours du même exercice.

Métriques de plate-forme numérique	2022 Performance
Revenus numériques	1,08 milliard de dollars
Capacité de stockage cloud	1,2 pétaoctets
Clientèle numérique	185 000 clients d'entreprise

Créer des solutions de gouvernance et de conformité des informations alimentées par l'IA

En 2022, Iron Mountain a élargi ses solutions de conformité axées sur l'IA avec un investissement de 45 millions de dollars dans les technologies d'apprentissage automatique.

• Précision de classification des documents alimentés par AI: 94,6%
• Déploiement de la solution de conformité: 67 nouveaux clients d'entreprise
• Dépenses annuelles de R&D de la technologie de l'IA: 22,3 millions de dollars

Introduire des services de vérification et de stockage de documents sécurisés compatibles avec la blockchain

Iron Mountain a lancé des services de vérification de la blockchain en 2021, avec 12,5 millions de dollars alloués au développement technologique de la blockchain.

Métriques de service de blockchain	2022 données
Blockchain Transactions	2,3 millions
Vérifications du document sécurisé	486,000

Concevoir des services spécialisés de protection des données et de cybersécurité

Les revenus des services de cybersécurité ont atteint 156 millions de dollars en 2022, avec une croissance de 28% sur l'autre.

• Base de clients de cybersécurité: 42 000 organisations
• Taux de prévention des violations de données: 99,7%
• Certifications de conformité en matière de sécurité: 7 Normes internationales

Développer des solutions d'archivage numérique axées sur la durabilité

Iron Mountain a engagé 65 millions de dollars dans des infrastructures numériques durables en 2022.

Métriques de durabilité	2022 Performance
Consommation d'énergie renouvelable	48% de l'énergie totale
Réduction du carbone	Réduction de 22% depuis 2016
Investissements du centre de données vertes	38,6 millions de dollars

Iron Mountain Incorporated (IRM) - Matrice Ansoff: diversification

Investissez dans des plateformes technologiques émergentes pour la préservation et la gestion des données

En 2022, Iron Mountain a investi 58,3 millions de dollars dans les technologies de transformation numérique. Les revenus numériques de l'entreprise ont atteint 431 millions de dollars, ce qui représente une croissance de 14,2% en glissement annuel.

Catégorie d'investissement technologique	Montant d'investissement	Impact sur les revenus
Solutions de stockage cloud	22,7 millions de dollars	Croissance de 18,5%
Plateformes de gestion des données	18,6 millions de dollars	Croissance de 15,3%
Technologies de préservation numérique	17 millions de dollars	Croissance de 12,9%

Explorez les acquisitions potentielles dans les secteurs de la cybersécurité et de la transformation numérique

Iron Mountain a effectué 3 acquisitions stratégiques en 2022, totalisant 124,5 millions de dollars de dépenses d'acquisition.

• Dépenses d'acquisition de cybersécurité: 47,2 millions de dollars
• Investissements du secteur de la transformation numérique: 77,3 millions de dollars

Élaborer des services de conseil pour la gouvernance de l'information et la conformité réglementaire

Les revenus des services de consultation sont passés à 215,6 millions de dollars en 2022, avec un taux de croissance de 16,7% dans le conseil en conformité réglementaire.

Type de service de conseil	Revenu	Taux de croissance
Gouvernance de l'information	89,3 millions de dollars	14.2%
Conformité réglementaire	126,3 millions de dollars	16.7%

Créer des produits innovants d'analyse de données et d'informations

Iron Mountain a lancé 7 nouveaux produits d'analyse de données en 2022, générant 92,4 millions de dollars de revenus de nouveaux produits.

• Plateformes d'analyse d'apprentissage automatique: 3 produits
• Solutions d'informations prédictives: 4 produits

Se développer sur les marchés adjacents comme les services de destruction sécurisée des données et les services de médecine légale numérique

Les services de marché adjacents ont généré 167,8 millions de dollars de revenus, avec des services de destruction de données sécurisés augmentant de 19,3%.

Catégorie de service	Revenu	Taux de croissance
Destruction de données sécurisée	87,6 millions de dollars	19.3%
Médico-légal numérique	80,2 millions de dollars	15.6%

Iron Mountain Incorporated (IRM) - Ansoff Matrix: Market Penetration

You're looking at how Iron Mountain Incorporated (IRM) can squeeze more revenue from the customers they already serve, which is the essence of market penetration. It's about selling more of what you have to the people who already trust you.

Increase core Records and Information Management (RIM) pricing to drive revenue growth in the 70%+ margin business.

Honestly, driving price in the core Records and Information Management (RIM) business is key to boosting profitability, even if the target margin of 70%+ isn't explicitly confirmed in the latest reports. What we do know is that the Global RIM segment delivered an Adjusted EBITDA margin of 44.3% in the second quarter of 2025, which was up 40 basis points from the prior year, thanks to operating leverage and revenue management. Analysts are projecting a rebound in overall net profit margins from the current 0.6% up to 9.3% within three years, supported by those higher-margin growth businesses. Still, robust demand for secure storage and compliance-focused services is helping Iron Mountain Incorporated offset pressures from declining legacy lines. The Storage Rental Revenue for the third quarter of 2025 was $1.03 billion, showing a 10% increase year-over-year.

Here's a snapshot of the core business revenue performance in Q3 2025:

Metric	Value	Change YoY
Storage Rental Revenue	$1.03 billion	10% increase
Service Revenue	$721 million	16% increase
Total Revenue	$1.8 billion	12.6% increase (reported)

Aggressively cross-sell Digital Solutions and Asset Lifecycle Management (ALM) to the existing 240,000+ customer base.

You have a massive installed base to work with here. Iron Mountain Incorporated is trusted by over 240,000 customers in 61 countries. The strategy is to push the faster-growing services into this existing relationship. The Asset Lifecycle Management (ALM) business saw revenue surge by 65% compared to the previous year in Q3 2025. The combined growth businesses-data center, digital, and ALM-collectively grew more than 30% year-over-year in Q3 2025. This cross-selling focus is clearly working, as Service Revenue, which includes these digital offerings, climbed 16% to $721 million in the third quarter.

The focus areas for cross-selling show serious momentum:

• Data center segment revenue growth: 33% year-over-year in Q3 2025.
• ALM revenue in Q3 2025: $169 million.
• Expected growth portfolio share exiting 2025: Nearly 30% of total revenue.

Maximize occupancy in the existing 452 MW of operating data center capacity, which is already 97% leased.

While the exact 452 MW figure and 97% occupancy aren't in the latest filings, the data center expansion is undeniable. Iron Mountain Incorporated now owns more than 30 data centers, providing a total of 1.2 gigawatts of computing power. The company expects data center revenue growth in excess of 30% in Q4 2025 and more than 25% growth in 2026, underwritten by a pre-leasing backlog. They also noted that 450 megawatts is available for sale and will be energized over the next 18 to 24 months. The Q3 2025 data center revenue hit $204 million, with the segment's adjusted EBITDA margin reaching 52.6%, up 900 basis points year-on-year. Maximizing the lease-up of this available capacity is critical for realizing that projected 25%+ growth next year.

Leverage the $714 million, 5-year U.S. Treasury contract to secure more federal, state, and local government digitization work.

Securing the five-year, up to US$714 million contract with the U.S. Department of Treasury in the third quarter of 2025 is a huge win for credibility. This builds on an earlier award from April 2025 worth $79.7 million. The key here is that management has explicitly stated they have not included any benefit from this new, larger Treasury award in their 2025 financial guidance. That means any revenue from this deal is pure upside to the current full-year revenue guidance of $6.79 billion to $6.94 billion. Successfully executing this high-security, high-volume digitization work positions Iron Mountain Incorporated perfectly to pursue other government modernization RFQs.

Focus sales efforts on the 95% of the Fortune 1000 companies already using Iron Mountain Incorporated's services.

This is the lowest-hanging fruit for penetration. Iron Mountain Incorporated serves approximately 95% of the Fortune 1000 companies. The strategy is to increase wallet share within this established, high-value client base, rather than spending heavily to acquire new logos. The company's overall Q3 2025 revenue growth of 12.6% on a reported basis shows they are successfully expanding relationships across the board. Furthermore, the Board's confidence in this strategy is reflected in the 10% increase in the quarterly cash dividend to $0.864 per share.

The financial health supports this focus:

• Q3 2025 Adjusted EBITDA: $660.4 million (up 16.2%).
• Q3 2025 AFFO per share: $1.32 (up 18.5% in total).
• Full-year 2025 AFFO per share guidance midpoint: Approximately $1.39.

Finance: draft 13-week cash view by Friday.

Iron Mountain Incorporated (IRM) - Ansoff Matrix: Market Development

You're looking at how Iron Mountain Incorporated is pushing its existing services into new territories and customer segments-that's Market Development in the Ansoff Matrix. This isn't just about adding square footage; it's about deploying massive, high-growth digital assets into new geographies and securing new types of clients.

Accelerate the deployment of the 203 MW of data center capacity currently under construction into new US and European markets.

The focus here is on getting capacity online fast to meet demand, especially in key international hubs. While Iron Mountain Incorporated has 424 MW of operating data center capacity globally (with 96% occupancy as of Q1 2025), the pipeline is what matters for this strategy. They have plans to bring significant power online across the pond and domestically over the next 12 to 36 months. Specifically, planned capacity additions include 30 MW in Amsterdam and 75 MW in Madrid in Europe, alongside major US builds like 175 MW in Northern Virginia and 200 MW in Richmond. When fully developed, the total global data center capacity potential stands at in excess of 1.2 gigawatts (GW). The leasing target for 2025 was set at 125 MW, underpinning the aggressive deployment schedule. The Data Center business is projected to generate between $790 million and $800 million in revenue for fiscal year 2025, with growth in excess of 30% expected in Q4 2025 alone.

Here's a quick look at the scale of the data center build-out:

Metric	Value	Context/Date
Operating Data Center Capacity	424 MW	Globally, as of Q1 2025
Data Center Capacity Under Construction	185 MW	As of Q1 2025
Projected 2025 Data Center Revenue	$790M to $800M	Full Year 2025 Guidance
Projected 2026 Data Center Revenue Growth	More than 25%	Based on currently signed leases
Q3 2025 Data Center Adjusted EBITDA Margin	52.6%	Q3 2025 result

Expand the Global Data Center footprint into emerging markets, building on the MENA partnership with Ooredoo.

The strategic minority equity stake in Ooredoo's MENA Digital Hub is the anchor for this expansion. This move leverages Iron Mountain Incorporated's global operating experience to support infrastructure growth in the Middle East and North Africa (MENA) region. Ooredoo has committed to investing USD1 billion in the medium term to expand its capacity to over 120 MW within the MENA Digital Hub. This positions Iron Mountain Incorporated to benefit from the region's rising demand for hyperscale and AI-driven infrastructure, tapping into a footprint that already spans 61 countries where Iron Mountain Incorporated operates.

Target new customer verticals, like mid-market enterprises, with standardized, secure digital transformation packages.

While specific mid-market enterprise package sales figures aren't public, the success in securing large-scale digital services contracts shows the capability to serve new, complex needs. For instance, Iron Mountain Incorporated secured a new $714 million, 5-year contract with the U.S. Department of Treasury for digitization services. The margins in these Digital Solutions and Asset Lifecycle Management (ALM) businesses are strong, sitting between 20% and 30%, which is a key driver for the overall shift in the business model.

Enter new geographic regions in Asia-Pacific and Latin America with the high-growth ALM services, which saw 36% organic growth in Q3 2025.

The Asset Lifecycle Management (ALM) service is clearly a high-growth engine for international expansion, as Iron Mountain Incorporated already has a presence in Latin America. The growth trajectory has been impressive, showing significant acceleration. You should definitely track these numbers:

• ALM organic revenue growth in Q3 2025 was 36%.
• ALM reported revenue growth in Q3 2025 was 65%.
• ALM revenue reached $169 million in Q3 2025.
• ALM organic revenue growth in Q1 2025 was 22%.
• ALM organic revenue growth in Q2 2025 was 42%.

This service, which saw 118% year-over-year revenue increase in Q4 of the prior year to $112 million, is clearly being pushed into new markets to drive top-line expansion.

Use the global real estate portfolio to establish new secure storage hubs in underserved secondary US cities.

This strategy leans on the company's massive physical footprint. As of 2024, Iron Mountain Incorporated maintained 1,350 locations globally, supporting a total asset base valued at $18.7 billion. Establishing new hubs in secondary cities leverages this existing real estate expertise and infrastructure base to capture localized demand that larger, primary markets might overlook. Finance: draft 13-week cash view by Friday.

Iron Mountain Incorporated (IRM) - Ansoff Matrix: Product Development

You're looking at how Iron Mountain Incorporated (IRM) is building new offerings to drive growth, which is the Product Development quadrant of the Ansoff Matrix. This isn't just about tweaking old services; it's about launching platforms and specialized solutions to capture new revenue streams from existing customers and attract new ones needing advanced data services. Honestly, the numbers show they are heavily leaning into this strategy right now.

The focus is clearly on digital transformation and AI enablement. For example, the Digital Solutions business alone was running at an annualized rate of about $500 million as of Q1 2025. The entire suite of growth businesses-Data Center, Digital Solutions, and Asset Lifecycle Management (ALM)-is projected to hit nearly 28% of Iron Mountain Incorporated's total revenue in 2025. That's a significant shift from where they were just a few years ago, and it's powered by these new products.

Here's a quick look at the financial context supporting this push:

Metric	Q3 2025 Actual	Full Year 2025 Guidance (Midpoint)
Total Revenue	$1.75 billion	$6.865 billion
Service Revenue (Q3)	$721 million	N/A
Storage Rental Revenue (Q3)	$1.03 billion	N/A
Growth Businesses Revenue Share (Target)	N/A	~28% of Total Revenue

The collective growth of the Data Center, Digital, and ALM segments in Q2 and Q3 of 2025 was reported as more than 30% year-over-year. That's the kind of acceleration you expect when new products gain traction.

Drive adoption of the new Iron Mountain InSight® DXP platform to monetize unstructured data with agentic AI capabilities.

• The platform utilizes agentic AI to orchestrate users and data sources for complex workflows.
• The Intelligent Document Processing (IDP) component achieves a >97% average data extraction accuracy with human-in-the-loop oversight.
• Iron Mountain InSight® DXP is available on the AWS, Google Cloud, and Microsoft Azure Marketplaces.
• The platform is engineered to help customers reduce organizational drag caused by fragmented, unstructured data.

Develop specialized, high-density colocation solutions tailored for hyperscalers' AI and machine learning workloads.

You're seeing the market shift toward massive AI compute needs, and Iron Mountain Incorporated is building capacity to meet it. The Data Center business saw organic storage growth of 26% in Q2 2025. Management has articulated a specific target for this segment, projecting Data Center revenue to surpass $1 billion in 2026. This requires developing the specialized, high-density infrastructure that hyperscalers demand for their AI training and inference engines.

Introduce new industry-specific digital workflow automation solutions for banking (e.g., Digital Auto Lending) and healthcare.

These tailored solutions use the core platform capabilities for specific vertical pain points. For instance, Digital Auto Lending is a pre-built, customizable solution for the banking sector. This is important because, as of late 2025, 23% of banking, financial services, and insurance (BFSI) companies cited regulatory and compliance hurdles as a major roadblock to transformation. The platform's ability to offer audit-ready compliance helps directly address that 23% hurdle.

Offer 'AI-Ready' data services that prepare customers' physical and digital archives for generative AI applications.

This is the core value proposition tying the physical and digital worlds together. The InSight DXP is designed to transform both physical and digital information into unified, AI-ready assets. It helps customers get their data ready for use in generative AI applications by providing unified asset management and information governance tools.

Expand the Digital Solutions portfolio, which is part of the growth businesses expected to reach nearly 30% of total revenue in 2025.

The overall revenue guidance for the full year 2025 is between $6.79 billion and $6.94 billion. The growth businesses, including Digital Solutions, are key to achieving the 12% year-over-year revenue growth expected at the midpoint for the full year. The strong performance is evident; for example, the Asset Lifecycle Management (ALM) business alone delivered more than 40% organic growth in Q2 2025.

Finance: draft 2026 revenue forecast breakdown by growth segment by Friday.

Iron Mountain Incorporated (IRM) - Ansoff Matrix: Diversification

You're looking at how Iron Mountain Incorporated (IRM) can push beyond its core records management into new territory, which is exactly what diversification is about. The numbers from the latest reports show the existing growth engine is already firing on all cylinders, giving you a solid base to build from.

Here's a quick look at the financial momentum driving these diversification thoughts, based on the third quarter of 2025 results and raised full-year guidance:

Metric	Q3 2025 Actual	FY 2025 Guidance (Raised Midpoint)
Total Revenue	$1.8 billion	Approx. $6.865 billion
Adjusted EBITDA	$660 million	Approx. $2.545 billion
AFFO Per Share	$1.32	$5.085 (Range: $5.04 to $5.13)
Growth Businesses YoY Growth (Q3)	More than 30%	N/A

Acquire smaller, specialized digital infrastructure firms to immediately enter new, high-margin cloud or cybersecurity consulting markets.

This move capitalizes on the demonstrated success of Iron Mountain Incorporated's existing growth portfolio. In the third quarter of 2025, the combined Data Center, Digital Solutions, and Asset Lifecycle Management (ALM) businesses grew by more than 30% year-over-year. To jump into consulting, you'd target markets where the existing segments already show strong profitability. For instance, the Digital Solutions and ALM segments currently report margins between 20% and 30%, so acquiring a firm with cybersecurity consulting margins in that range, or higher, would be accretive to profitability. The company's overall leverage stands around five times, which sets a financial context for any M&A activity.

Launch a global, high-security logistics and storage service for high-value, non-traditional assets like fine art in new emerging markets.

This strategy leverages Iron Mountain Incorporated's core competency in secure physical storage and logistics, but applies it to a different asset class. The Asset Lifecycle Management (ALM) business already addresses a fragmented $30 billion market for IT asset disposition and data center decommissioning services. Expanding this secure logistics expertise globally into fine art storage means targeting a new vertical where the existing security protocols and compliance framework-which Iron Mountain Incorporated claims is the most comprehensive in the colocation industry since 2016-provide an immediate competitive edge.

Develop a full-stack, managed hybrid IT service, bundling colocation, cloud connectivity, and digital governance for a new enterprise segment.

This deepens the existing Data Center offering. Iron Mountain Incorporated expects its Data Center business to generate between $790 million and $800 million in revenue for the full year 2025, projecting 25% growth for 2026. The EBITDA margins in this segment are already high, exceeding 50% year-over-year. Bundling governance services onto this platform allows Iron Mountain Incorporated to capture more of the customer's total IT spend, moving beyond just space and power to offer a fully managed, compliant environment.

Invest in utility-scale renewable energy projects to sell excess power back to the grid, leveraging the massive land holdings for data center campuses.

This is about monetizing sustainability assets beyond just meeting internal goals. Iron Mountain Incorporated has a commitment to achieve 90% renewable electricity corporate-wide by 2025, which is 15 years ahead of its RE100 commitment. The company already has a 7.2 MW-rated rooftop solar installation in Edison, New Jersey, generating over 9 million kW/hrs per year. Selling excess power back to the grid transforms a compliance cost center into a potential revenue stream, using the land bank associated with their 1.2 GW of planned and operating data center capacity.

Target the rapidly growing edge computing market with micro-data centers, a new product in new, localized geographic areas.

This is a clear product development move into a new geographic distribution model. The external global edge computing spending is projected to reach nearly $261 Billion in 2025. While Iron Mountain Incorporated currently has capacity planned across major hubs like Northern Virginia (175 MW) and Madrid (75 MW), micro-data centers for edge deployment would require smaller, more distributed footprints. This strategy directly addresses the need for low-latency processing that drives the edge market, moving compute closer to the end-user devices.

• Data Center operating capacity: 452 MW (Q3 2025).
• Data Center business 2026 growth target: 25%.
• Q3 2025 Net Income: $86 million.
• Quarterly dividend increased by 10%.
• Total Assets: $20.6 billion (Q3 2025).

Finance: finalize the capital allocation plan for the Q4 2025 power purchase agreements by next Wednesday.