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 March 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 2026-Q1 was Self Storage Rental at $62M, 79% of the disclosed total, just ahead of Reimbursable Costs From Managed Platform at 8.8%.
| 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 | $62M | 79% |
| Reimbursable Costs From Managed Platform | $6.9M | 8.8% |
| Managed Platform | $6.6M | 8.4% |
| Ancillary Operating | $2.9M | 3.7% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q1 2026Total $78.3M (+11%)
Reimbursable Costs From Managed Platform grew +221% year on yearSelf Storage Rental +9.4% year on year
Segment Latestquarter on quarteryear on year
- Self Storage Rental$61.9M$61.9MQoQ +0.24%year on year +9.4%+0.24%+9.4%
- Reimbursable Costs From Managed Platform$6.9M$6.9MQoQ -year on year +221%-+221%
- Managed Platform$6.6M$6.6MQoQ -year on year +61%-+61%
- Ancillary Operating$2.9M$2.9MQoQ +2.8%year on year +11%+2.8%+11%
- Managed REIT Platform--QoQ -year on year ---
- Reimbursable Costs From Managed REI Ts--QoQ -year on year ---