Filing Flows › SmartStop Self Storage REIT (SMA) › Q2 2026
SmartStop Self Storage REIT (SMA) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
SmartStop Self Storage REIT (SMA) reported revenue of $79.3M for the second quarter 2026 (Q2 2026), +19% from a year earlier and +1% from the quarter before. Operating margin was 22.5%, net earnings $11.2M (14.2% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $79.3M | +1% | +19% |
| Gross profit | $47.6M | +6% | +20% |
| Operating profit | $17.9M | +10% | +74% |
| Net earnings | $11.2M | +17% | — |
| Operating cash flow | $19.7M | -19% | +146% |
What changed
Revenue was $79.3M in Q2 2026, up 19% year over year and up 1% from the previous quarter. Self Storage Rental Revenue was the largest line at 79% of revenue. Reimbursable Costs From Managed Platform added $4.8M year over year (up 253%), 38% of the total change.
Gross margin was 60.1%, up 0.8 points from Q2 2025. Operating profit was $17.9M, a 22.5% margin (up 7.2 points year over year). Of the extra revenue versus Q2 2025, 61% reached operating profit, above the 15% margin then. Operating expenses grew 1% against revenue growth of 19%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $11.2M. The effective tax rate was 3.0%.
Operating cash flow was $19.7M (up 146% year over year), 163% of net income including minority interests. Non-cash charges added back $19.8M of depreciation and amortization and $3.3M of share-based compensation. Working capital and other items used $15.4M.
Questions
What was SmartStop Self Storage REIT's revenue in the second quarter 2026?
SmartStop Self Storage REIT (SMA) reported revenue of $79.3M for the second quarter 2026 (Q2 2026), +19% from a year earlier and +1% from the quarter before.
Was SmartStop Self Storage REIT profitable in the second quarter 2026?
Operating profit was $17.9M (22.5% of revenue) and net earnings $11.2M.