Filing Flows › SmartStop Self Storage REIT (SMA) › Q2 2026 › vs Q1 2026
SmartStop Self Storage REIT (SMA) Q2 2026 vs Q1 2026 (quarter over quarter)
SmartStop Self Storage REIT's revenue rose $966K (+1%) from $78.3M in Q1 2026 to $79.3M in Q2 2026. The biggest changes: Self Storage Rental Revenue +$966K (+2%); Reimbursable Costs From Managed Platform −$189K (-3%); Managed Platform Revenue +$135K (+2%). Gross margin 60.1% against 57.3% (+2.8 pts).
SmartStop Self Storage REIT, Q2 2026: revenue $79.3M (+19% year over year), operating margin 22.5%, net earnings $11.2M, operating cash flow $19.7M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 60.1% | 57.3% | +2.8 pts |
| Operating margin | 22.5% | 20.7% | +1.8 pts |
| Net margin | 14.2% | 12.2% | +2.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Self Storage Rental Revenue | $62.9M | $61.9M | $966K | +2% |
| Managed Platform Revenue | $6.7M | $6.6M | $135K | +2% |
| Reimbursable Costs From Managed Platform | $6.7M | $6.9M | −$189K | -3% |
| Ancillary Operating Revenue | $3.0M | $2.9M | $54K | +2% |
| Revenue | $79.3M | $78.3M | $966K | +1% |
| Gross profit | $47.6M | $44.9M | $2.8M | +6% |
| Cost of revenue | $31.6M | $33.4M | −$1.8M | -5% |
| Operating profit | $17.9M | $16.2M | $1.6M | +10% |
| Operating expenses | $29.8M | $28.7M | $1.1M | +4% |
| Pre-tax earnings | $12.5M | $10.5M | $1.9M | +18% |
| Other expense, net | $5.4M | $5.7M | −$259K | -5% |
| General & admin | $9.9M | $9.1M | $753K | +8% |
| Other operating costs | $19.9M | $19.5M | $364K | +2% |
| Net earnings | $11.2M | $9.6M | $1.7M | +17% |
| Minority interests | $829K | $640K | $189K | +30% |
| Income tax | $379K | $331K | $48K | +15% |
| Operating cash sources | $34.3M | $32.4M | $1.9M | +6% |
| Depreciation & amortization | $19.8M | $20.0M | −$278K | -1% |
| Share-based compensation | $3.3M | $2.8M | $480K | +17% |
| Working capital & other | $14.6M | $8.1M | $6.4M | +79% |
| Operating cash flow | $19.7M | $24.2M | −$4.6M | -19% |
Questions
How much did SmartStop Self Storage REIT's revenue grow quarter over quarter in Q2 2026?
SmartStop Self Storage REIT's revenue rose $966K (+1%) from $78.3M in Q1 2026 to $79.3M in Q2 2026.
What drove SmartStop Self Storage REIT's revenue change in Q2 2026?
Self Storage Rental Revenue +$966K (+2%); Reimbursable Costs From Managed Platform −$189K (-3%); Managed Platform Revenue +$135K (+2%).