Filing Flows › SmartStop Self Storage REIT (SMA) › Q3 2026
SmartStop Self Storage REIT (SMA) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
SmartStop Self Storage REIT (SMA) reported revenue of $81.8M for the third quarter 2026 (Q3 2026), +16% from a year earlier and +3% from the quarter before. Operating margin was 24.4%, net earnings $9.0M (11.0% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $81.8M | +3% | +16% |
| Gross profit | $49.5M | +4% | +15% |
| Operating profit | $19.9M | +12% | +56% |
| Net earnings | $9.0M | -20% | +72% |
| Operating cash flow | $34.9M | +77% | -33% |
What changed
Revenue was $81.8M in Q3 2026, up 16% year over year and up 3% from the previous quarter. Self Storage Rental Revenue was the largest line at 80% of revenue. Reimbursable Costs From Managed Platform added $4.9M year over year (up 247%), 43% of the total change.
Gross margin was 60.5%, down 0.3 points from Q3 2025. Operating profit was $19.9M, a 24.4% margin (up 6.3 points year over year). Of the extra revenue versus Q3 2025, 63% reached operating profit, above the 18% margin then. Operating expenses fell 2% while revenue rose 16%. Net earnings were $9.0M, up 72% year over year. The effective tax rate was 7.4%.
Operating cash flow was $34.9M (down 33% year over year), 362% of net income including minority interests. Non-cash charges added back $18.8M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items added $3.9M.
Questions
What was SmartStop Self Storage REIT's revenue in the third quarter 2026?
SmartStop Self Storage REIT (SMA) reported revenue of $81.8M for the third quarter 2026 (Q3 2026), +16% from a year earlier and +3% from the quarter before.
Was SmartStop Self Storage REIT profitable in the third quarter 2026?
Operating profit was $19.9M (24.4% of revenue) and net earnings $9.0M.