Filing Flows › SmartStop Self Storage REIT (SMA) › Q3 2026 › vs Q2 2026
SmartStop Self Storage REIT (SMA) Q3 2026 vs Q2 2026 (quarter over quarter)
SmartStop Self Storage REIT's revenue rose $2.5M (+3%) from $79.3M in Q2 2026 to $81.8M in Q3 2026. The biggest changes: Self Storage Rental Revenue +$2.2M (+3%); Reimbursable Costs From Managed Platform +$232K (+3%); Ancillary Operating Revenue +$157K (+5%). Gross margin 60.5% against 60.1% (+0.4 pts).
SmartStop Self Storage REIT, Q3 2026: revenue $81.8M (+16% year over year), operating margin 24.4%, net earnings $9.0M, operating cash flow $34.9M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Gross margin | 60.5% | 60.1% | +0.4 pts |
| Operating margin | 24.4% | 22.5% | +1.8 pts |
| Net margin | 11.0% | 14.2% | -3.2 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Self Storage Rental Revenue | $65.1M | $62.9M | $2.2M | +3% |
| Reimbursable Costs From Managed Platform | $6.9M | $6.7M | $232K | +3% |
| Managed Platform Revenue | $6.7M | $6.7M | −$67K | -1% |
| Ancillary Operating Revenue | $3.1M | $3.0M | $157K | +5% |
| Revenue | $81.8M | $79.3M | $2.5M | +3% |
| Gross profit | $49.5M | $47.6M | $1.9M | +4% |
| Cost of revenue | $32.3M | $31.6M | $653K | +2% |
| Operating profit | $19.9M | $17.9M | $2.1M | +12% |
| Operating expenses | $29.6M | $29.8M | −$222K | -0.7% |
| Pre-tax earnings | $10.4M | $12.5M | −$2.0M | -16% |
| Other expense, net | $9.5M | $5.4M | $4.1M | +76% |
| General & admin | $9.7M | $9.9M | −$196K | -2% |
| Other operating costs | $19.9M | $19.9M | −$26K | -0.1% |
| Net earnings | $9.0M | $11.2M | −$2.3M | -20% |
| Minority interests | $650K | $829K | −$179K | -22% |
| Income tax | $773K | $379K | $394K | +104% |
| Depreciation & amortization | $18.8M | $19.8M | −$954K | -5% |
| Share-based compensation | $2.6M | $3.3M | −$661K | -20% |
| Working capital & other | $4.5M | −$14.6M | $19.1M | — |
| Operating cash flow | $34.9M | $19.7M | $15.2M | +77% |
Questions
How much did SmartStop Self Storage REIT's revenue grow quarter over quarter in Q3 2026?
SmartStop Self Storage REIT's revenue rose $2.5M (+3%) from $79.3M in Q2 2026 to $81.8M in Q3 2026.
What drove SmartStop Self Storage REIT's revenue change in Q3 2026?
Self Storage Rental Revenue +$2.2M (+3%); Reimbursable Costs From Managed Platform +$232K (+3%); Ancillary Operating Revenue +$157K (+5%).