SmartStop Self Storage REIT, Inc.SMAEarnings & Financial Report
SmartStop Self Storage REIT, Inc. is a real estate investment trust focused on owning, operating, and acquiring high-quality self-storage properties. Its portfolio covers multiple U.S. states and Canadian provinces, offering secure, flexible storage solutions for residential customers storing personal belongings and commercial clients storing inventory or seasonal goods.
Revenue
$65.4M
Gross Profit
$42.0M
Operating Profit
$17.2M
Net Profit
$-5.5M
Gross Margin
64.1%
Operating Margin
26.3%
Net Margin
-8.3%
YoY Growth
14.7%
EPS
$-0.35
SmartStop Self Storage REIT, Inc. Q1 FY2025 Financial Summary
SmartStop Self Storage REIT, Inc. reported revenue of $65.4M (up 14.7% YoY) for Q1 FY2025, with a net profit of $-5.5M (down 232.7% YoY) (-8.3% margin). Cost of goods sold was $23.5M, operating expenses totaled $24.7M.
Key Financial Metrics
| Total Revenue | $65.4M |
|---|---|
| Net Profit | $-5.5M |
| Gross Margin | 64.1% |
| Operating Margin | 26.3% |
| Report Period | Q1 FY2025 |
Revenue Breakdown
SmartStop Self Storage REIT, Inc. Q1 FY2025 revenue of $65.4M breaks down across 5 segments, led by Self Storage Rental Revenue at $56.6M (86.5% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Self Storage Rental Revenue | $56.6M | 86.5% |
| Managed REIT Platform Revenue | $4.1M | 6.3% |
| Ancillary Operating Revenue | $2.6M | 4.0% |
| Reimbursable Costs From Managed REI Ts | $2.1M | 3.3% |
| Asset Management1 | $1.4M | 2.2% |
SmartStop Self Storage REIT, Inc. Revenue by Segment — Quarterly Trend
SmartStop Self Storage REIT, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Self Storage Rental Revenue and Managed REIT Platform Revenue) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Self Storage Rental Revenue | $62.0M | $61.8M | $58.2M | $56.6M |
| Managed REIT Platform Revenue | — | $3.8M | $4.0M | $4.1M |
| Ancillary Operating Revenue | $2.9M | $2.8M | $2.7M | $2.6M |
| Reimbursable Costs From Managed REI Ts | — | $2.0M | $1.9M | $2.1M |
| Asset Management1 | $1.7M | — | — | $1.4M |
SmartStop Self Storage REIT, Inc. Annual Revenue by Year
SmartStop Self Storage REIT, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $281.1M).
| Year | Annual Revenue |
|---|---|
| 2025 | $281.1M |
| 2024 | $237.0M |
| 2023 | $233.0M |
SmartStop Self Storage REIT, Inc. Quarterly Revenue & Net Profit History
SmartStop Self Storage REIT, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $78.4M | +29.4% | $3.0M | 3.8% |
| Q3 FY2025 | $70.4M | +17.1% | $5.2M | 7.4% |
| Q2 FY2025 | $66.8M | +12.9% | $-4.8M | -7.2% |
| Q1 FY2025 | $65.4M | +14.7% | $-5.5M | -8.3% |
| Q4 FY2024 | $60.6M | +5.4% | $-150.0K | -0.2% |
| Q3 FY2024 | $60.2M | +2.5% | $-6.2M | -10.3% |
| Q2 FY2024 | $59.2M | -0.7% | $-705.0K | -1.2% |
| Q1 FY2024 | $57.0M | -0.2% | $-1.6M | -2.9% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $57.0M | $59.2M | $60.2M | $60.6M | $65.4M | $66.8M | $70.4M | $78.4M |
| YoY Growth | -0.2% | -0.7% | 2.5% | 5.4% | 14.7% | 12.9% | 17.1% | 29.4% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $1.89B | $1.88B | $1.94B | $2.04B | $2.11B | $2.30B | $2.39B | $2.43B |
| Liabilities | $1.15B | $1.16B | $1.25B | $1.37B | $1.46B | $1.00B | $1.10B | $1.15B |
| Equity | $384.8M | $365.8M | $343.9M | $325.7M | $303.0M | $1.22B | $1.20B | $1.18B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $14.4M | $17.3M | $21.7M | $64.0M | $10.6M | $8.0M | $52.1M | $85.0M |