Filing Flows › SmartStop Self Storage REIT (SMA) › Q3 2026 › vs Q3 2025
SmartStop Self Storage REIT (SMA) Q3 2026 vs Q3 2025 (year over year)
SmartStop Self Storage REIT's revenue rose $11.3M (+16%) from $70.4M in Q3 2025 to $81.8M in Q3 2026. The biggest changes: Reimbursable Costs From Managed Platform +$4.9M (+247%); Self Storage Rental Revenue +$3.3M (+5%); Managed Platform Revenue +$2.8M (+74%). Gross margin 60.5% against 60.9% (-0.3 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 Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 60.5% | 60.9% | -0.3 pts |
| Operating margin | 24.4% | 18.1% | +6.3 pts |
| Net margin | 11.0% | 7.4% | +3.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Self Storage Rental Revenue | $65.1M | $61.8M | $3.3M | +5% |
| Reimbursable Costs From Managed Platform | $6.9M | $2.0M | $4.9M | +247% |
| Managed Platform Revenue | $6.7M | $3.8M | $2.8M | +74% |
| Ancillary Operating Revenue | $3.1M | $2.8M | $289K | +10% |
| Revenue | $81.8M | $70.4M | $11.3M | +16% |
| Gross profit | $49.5M | $42.9M | $6.6M | +15% |
| Cost of revenue | $32.3M | $27.6M | $4.7M | +17% |
| Operating profit | $19.9M | $12.8M | $7.2M | +56% |
| Operating expenses | $29.6M | $30.1M | −$543K | -2% |
| Pre-tax earnings | $10.4M | $6.2M | $4.2M | +69% |
| Other expense, net | $9.5M | $6.6M | $2.9M | +44% |
| General & admin | $9.7M | $10.4M | −$738K | -7% |
| Other operating costs | $19.9M | $19.7M | $195K | +1% |
| Net earnings | $9.0M | $5.2M | $3.8M | +72% |
| Minority interests | $650K | $321K | $329K | +102% |
| Income tax | $773K | $615K | $158K | +26% |
| Depreciation & amortization | $18.8M | $19.2M | −$381K | -2% |
| Share-based compensation | $2.6M | $6.3M | −$3.7M | -59% |
| Working capital & other | $4.5M | $21.4M | −$16.9M | -79% |
| Operating cash flow | $34.9M | $52.1M | −$17.2M | -33% |
Questions
How much did SmartStop Self Storage REIT's revenue grow year over year in Q3 2026?
SmartStop Self Storage REIT's revenue rose $11.3M (+16%) from $70.4M in Q3 2025 to $81.8M in Q3 2026.
What drove SmartStop Self Storage REIT's revenue change in Q3 2026?
Reimbursable Costs From Managed Platform +$4.9M (+247%); Self Storage Rental Revenue +$3.3M (+5%); Managed Platform Revenue +$2.8M (+74%).