The financials
SmartStop Self Storage REIT, Inc. by the numbers
SmartStop Self Storage REIT, Inc. (SMA) reported revenue of $78M in Q1 2026 (quarter ended Mar 31, 2026), up 20% from the same quarter a year earlier. That came with a gross margin of 57% and net income of $10M (13% of revenue). For the full year FY2025, revenue was $281M (+19% year on year) and net income −$1.7M. Its largest product in Jun 2026 was Self Storage Rental at $63M, 79% of the disclosed total, well ahead of Managed Platform at 8.5%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $78M | $65M | +20% |
| Gross profit | $45M | $42M | +6.9% |
| Operating income | $16M | $17M | −5.9% |
| Net income | $10M | −$5.5M | to a profit |
| Diluted EPS | n/a | −$0.35 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Self Storage Rental | $63M | 79% |
| Managed Platform | $6.7M | 8.5% |
| Reimbursable Costs From Managed Platform | $6.7M | 8.4% |
| Ancillary Operating | $3.0M | 3.7% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Jun 2026Total $79.3M (+1.2%)
Reimbursable Costs From Managed Platform grew +253% year on yearSelf Storage Rental +8.1% year on year
Segment Latestquarter on quarteryear on year
- Self Storage Rental$62.9M$62.9MQoQ +1.6%year on year +8.1%+1.6%+8.1%
- Managed Platform$6.7M$6.7MQoQ +2.0%year on year +67%+2.0%+67%
- Reimbursable Costs From Managed Platform$6.7M$6.7MQoQ -2.7%year on year +253%-2.7%+253%
- Ancillary Operating$3.0M$3.0MQoQ +1.9%year on year +8.4%+1.9%+8.4%