Iron Mountain and Echo experience significant growth in IT Asset Disposition

egment. In 2024, the commercial segment of Envela sold 1.3 million individual units of electronics and components for reuse, along with 12,800 metric tons of e-scrap, staying consistent with the previous year. This segment saw an 8.8% increase in sales year over year, reaching $49.9 million in FY24. For the fourth quarter of 2024, revenue was $11.8 million, a rise from $11.3 million in the same quarter of the prior year. Envela credited this increase to strong performances across its various sectors, particularly in the sale of personal technology assets and the revenue generated through its ITAD business, as mentioned in its SEC filing.

Combining both its commercial and jewelry segments, Envela’s total revenue for the year 2024 amounted to $180.4 million, surpassing the $175.3 million from the previous year. In Q4 2024, the combined revenue was $48.3 million, significantly higher than the $37.5 million reported for the same period in the prior year.

Iron Mountain and Echo have displayed strong growth in their respective ITAD sectors. Iron Mountain’s recent earnings report highlighted significant growth in its ITAD and data center divisions, with a revenue of $1.6 billion in the first quarter of 2025, up by 7.8% compared to the same period in the previous year. The company’s global data center business saw an increase from $144 million to $173 million in Q1 2024, showcasing a positive trend in this segment.

Meanwhile, Echo, under Envela, experienced a notable jump in sales growth by 8.8% in the same period. The ITAD business, a part of Envela’s commercial sector, contributed significantly to this growth. With 1.3 million units of electronics and components sold for reuse, along with 12,800 metric tons of e-scrap, Echo maintained its position in the market.

Iron Mountain and Echo both have their strategies to navigate the evolving landscape of data center decommissioning and personal devices. Iron Mountain’s CEO Bill Meaney emphasized the importance of the company’s brand in vendor selection as organizations become more aware of cyber risks associated with IT asset disposal. Additionally, the company plans to continue acquiring asset lifecycle management businesses strategically.

On the other hand, Echo, through Envela, focuses on maximizing sales in personal technology assets and strengthening its ITAD operations to drive revenue growth. With a robust performance in various verticals, Echo has shown resilience and growth potential in the ITAD sector, fostering a positive outlook for the future. Both Iron Mountain and Echo are poised for further expansion and success in the ITAD industry, capitalizing on opportunities for innovation and strategic acquisitions to drive growth and revenue.