Filing Flows › SmartStop Self Storage REIT (SMA) › Q2 2026 › vs Q2 2025
SmartStop Self Storage REIT (SMA) Q2 2026 vs Q2 2025 (year over year)
SmartStop Self Storage REIT's revenue rose $12.5M (+19%) from $66.8M in Q2 2025 to $79.3M in Q2 2026. The biggest changes: Reimbursable Costs From Managed Platform +$4.8M (+253%); Self Storage Rental Revenue +$4.7M (+8%); Managed Platform Revenue +$2.7M (+67%). Gross margin 60.1% against 59.3% (+0.8 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 60.1% | 59.3% | +0.8 pts |
| Operating margin | 22.5% | 15.4% | +7.2 pts |
| Net margin | 14.2% | -12.5% | +26.7 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Self Storage Rental Revenue | $62.9M | $58.2M | $4.7M | +8% |
| Managed Platform Revenue | $6.7M | $4.0M | $2.7M | +67% |
| Reimbursable Costs From Managed Platform | $6.7M | $1.9M | $4.8M | +253% |
| Ancillary Operating Revenue | $3.0M | $2.7M | $229K | +8% |
| Revenue | $79.3M | $66.8M | $12.5M | +19% |
| Gross profit | $47.6M | $39.6M | $8.0M | +20% |
| Cost of revenue | $31.6M | $27.2M | $4.4M | +16% |
| Operating profit | $17.9M | $10.3M | $7.6M | +74% |
| Operating expenses | $29.8M | $29.4M | $415K | +1% |
| Pre-tax earnings | $12.5M | −$4.5M | $16.9M | — |
| Other expense, net | $5.4M | $14.7M | −$9.3M | -63% |
| General & admin | $9.9M | $11.7M | −$1.8M | -15% |
| Other operating costs | $19.9M | $17.7M | $2.2M | +13% |
| Net earnings | $11.2M | −$8.4M | $19.6M | — |
| Minority interests | $829K | $3.6M | −$2.7M | -77% |
| Income tax | $379K | $318K | $61K | +19% |
| Operating cash sources | $34.3M | $15.7M | $18.6M | +118% |
| Depreciation & amortization | $19.8M | $17.3M | $2.4M | +14% |
| Share-based compensation | $3.3M | $6.7M | −$3.5M | -52% |
| Working capital & other | $14.6M | $7.7M | $6.9M | +90% |
| Operating cash flow | $19.7M | $8.0M | $11.7M | +146% |
Questions
How much did SmartStop Self Storage REIT's revenue grow year over year in Q2 2026?
SmartStop Self Storage REIT's revenue rose $12.5M (+19%) from $66.8M in Q2 2025 to $79.3M in Q2 2026.
What drove SmartStop Self Storage REIT's revenue change in Q2 2026?
Reimbursable Costs From Managed Platform +$4.8M (+253%); Self Storage Rental Revenue +$4.7M (+8%); Managed Platform Revenue +$2.7M (+67%).