You saw the growth rate continue to be very strong on the storage side, high 20s and from a standpoint of bookings also ahead of our expectation. So that gives us very strong visibility into 2023 in terms of revenue generation. And I’ll tell you the pipeline continues to build. So appreciate the question. Thanks, Kevin.
Operator: Our next question comes from Andrew Steinerman with JPMorgan. Please go ahead.
Andrew Steinerman: Hey Barry. Just for the sake of precision, could you just indicate what the organic constant currency revenue growth is at the midpoint of your first quarter and 2023 guide. And it definitely seems like you’re expecting faster growth for the full year kind of after first quarter or maybe compared to first quarter and just maybe go over that dynamic more unless you feel like you’ve already addressed that.
Barry Hytinen: Okay. So a couple of points there for you, Andrew, as it relates to how to think about the first quarter. When I mentioned that we probably have something approaching $40 million of FX challenge for the full year, the vast majority of that is going to be in the first quarter. So I think we’ll probably have something like $30-plus million, maybe even more than that of a revenue headwind from FX in the first quarter just based on where rates are now versus last year. The other thing to be thinking about is that from a standpoint of ITRenew, that will go into our organic growth rate this quarter. In fact, as you know, we closed that transaction at the end of last January. And so it’s organic for February and March.
And last year, I don’t mind giving you this number for your modeling purposes, I may have mentioned it last year. ITRenew was about $60 million in the quarter, and then it was $65 million in the second quarter. And since I’m planning it to be essentially consistent on a sequential basis, that’s about, call it, $45 million that vicinity. So I think that will have about round numbers, a couple of point impact to organic growth. But from there, if you work through the model, you’re going to see organic continue to improve through the year. And really, at that point, you don’t have any additional acquisition revenue of any substance in the numbers. So you’re essentially very close to the constant currency growth. And I think that at that out of pencil for you on the model.
Operator: Our next question comes from Shlomo Rosenbaum with Stifel. Please go ahead.
Adam Parrington: Hi, it’s Adam Parrington for Shlomo. What was the pricing lift in the quarter? And what should investors expect for 2023?
Barry Hytinen: Thank you for the question. It was very strong, as you probably noticed. Organic revenue growth on storage was 11%. And overall, it was 11.3%. And so with volume being as we planned just slightly down on a sequential basis, by the way, up better than our projection for the full year. It was a very nice contribution, and we had 8.9% on that metric for the full year. So it shows you the ramp that we’ve been seeing through the year. In terms of — for 2023, we continue to expect revenue management to be a very nice contributor and be thinking probably in at least the mid-single digit range for the whole year, if not a little bit higher in light of what we’ve got in market. And we feel quite good about where things are.
And I guess I’ll also add that from a volume perspective, since it goes a little bit to the question you were asking, from a volume perspective, we are continuing to see good trends there, and we would expect for the full year 2023 very similar projection to what we did last year. So something like consistent to slightly up. Thank you for the question.
Operator: This concludes our question-and-answer session and the Iron Mountain fourth quarter 2022 earnings conference call. Thank you for attending today’s presentation. You may now disconnect.
