The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: George Tong - Goldman Sachs - Analyst
: Hi, thanks. Good morning. In your ALM business, can you talk a little bit more about trends that you're seeing in the data center and
enterprise side of the business, including how much contribution you're seeing from volumes and pricing?
Question: Jonathan Atkin - RBC Capital Markets - Analyst
: Thank you. I wanted to ask about CapEx requirements to kind of fuel the growth going forward. Give us a sense as to how to maybe
frame that for the next year? I assume a lot of that would be data centers, but any color on that would be helpful. Thank you.
Question: Shlomo Rosenbaum - Stifel Nicolaus - Analyst
: Hi, thank you very much. Could you talk a little bit about kind of the pacing of when you expect some of the construction to come
on board? It wasn't a ton of sequential revenue growth in the data center business. And obviously, there wasn't a huge signing
quarter where -- relative to what we saw in the last couple of quarters.
So I want to know if you could just give us -- I know it's lumpy on the signings side. And obviously, you have to put something into
commission that you're actually -- the customers using it in order to generate revenue. Can you give us a little bit of an idea of how
we should think about that pacing into the fourth quarter?
And then in general, over the next year or so, how are -- how is that looking? Are you looking to bring a lot of new capacity or new
data centers actually into service?
Question: Nate Crossett - BNP Paribas - Analyst
: Hey, good morning. I was wondering if you could give us your expectation for RIM volumes in 4Q? And maybe into next year, what
should we expect for RIM pricing? And then one on the Richmond land, is that power provisioned already? And maybe when can
we see start developments on that site?
Question: Kevin McVeigh - UBS Securities LLC - Analyst
: Great. I guess, Barry, I think you talked to kind of revenue and EBITDA at the upper end of the range last quarter, too. It looks like you
beat by a little bit in the quarter. Any thoughts as to just why it was reaffirmed as opposed to not take it up with one quarter left in
the year? Was that FX? Any puts and takes on that?
Question: Andrew Steinerman - JPMorgan - Analyst
: Hi, everybody. Question on InSight. You deal with the 22 wins on the InSight DXP platform. I wanted to know if Iron Mountain is
getting revenues for InSight? I know kind of initially, that wasn't the strategy, more of a cross-sell. So if you're not getting much
revenues, what's kind of a typical revenues you're getting from new storage contracts that are bundled with the InSight capability?
And if 22, a large number of InSight wins, like why should we understand this to be important?
Question: Eric Luebchow - Wells Fargo - Analyst
: Maybe you could just touch on kind of some of your longer-term aspirations with ALM. I know at your Investor Day a couple of years
ago, you talked about getting to $900 million or so of revenues by 2026. That's obviously a pretty massive ramp from where you're
currently at.
So I just wanted to confirm if that's still your stated goal? And maybe how you can kind of bridge from where you're at today, call it,
just north of $400 million in annualized revenue to that number. Whether it comes from open pricing, volume or incremental M&A
that you may or may not do?
Question: Brendan Lynch - Barclays - Analyst
: Great. Thank you for taking my question. I want to stick with the ALM theme. Can you just give us some more details around Wisetek
and APCD in terms of their geography and their product offering, maybe the customer focus between enterprise and hyperscale?
And also the appetite you have for larger acquisitions instead maybe some of these bolt-ons?
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