Iron Mountain

1. Cybersecurity and Data Breach Risk: As a custodian of sensitive corporate data, Iron Mountain is vulnerable to cyber-attacks and data breaches orchestrated by cyber criminals trying to access its customers' data.

2. Financial Risk: Iron Mountain's business model is heavily dependent on recurring revenue streams derived from long-term contracts with customers that it needs to effectively manage. Changes in customer demand for data storage and security services, and economic downturns could have a negative impact on Iron Mountain's bottom line.

3. Regulatory Risk: Iron Mountain is subject to complex regulations and laws governing the storage, transportation, and destruction of data. Changes in applicable laws or regulations could limit the markets in which Iron Mountain operates and have a negative impact on its business.

4. Operational Risk: Iron Mountain's operations are complex and require the effective integration of teams working across multiple geographies. Any disruptions to its operational and logistical systems could lead to financial losses and damage to customer relationships.

5. Natural Disasters Risk: Iron Mountain's data-storage facilities are vulnerable to natural disasters. Areas prone to extreme weather or other natural disasters could have an adverse effect on the company's operations and financial performance.