Yes, I'm running it as a script tool.
An example might be:
line_shapefile = "C:\Users\jhook\Desktop\lines.shp"
for i in range(0, 100, 1):
geom_obj = arcpy.CopyFeatures_management(line_shapefile, arcpy.Geometry())
arcpy.Delete_management(geom_obj)
del geom_obj
Memory usage continues to grow through this whole process despite my attempts to delete the geometries created.