SmartStop Self Storage REIT (SMA) financial statements
SmartStop Self Storage REIT reported revenue of $281M in fiscal 2025, up 22.5% a year over 9 years.
Net income was -$9M and the operating margin 21.0%, against -33.0% in 2016.
The diluted share count rose 54% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SmartStop Self Storage REIT's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $45M | $76M | $80M | $110M | $124M | $169M | $213M | $233M | $237M | $281M |
| Cost of revenue | $16M | $24M | $25M | — | — | — | — | — | — | — |
| Gross profit | $29M | $52M | $55M | — | — | — | $147M | $158M | $156M | $172M |
| Selling, general and admin | $3M | $3M | $5M | $10M | $16M | $23M | $28M | $27M | $30M | $38M |
| Operating income | -$15M | $4M | $16M | $12M | -$21M | $17M | $66M | $71M | $69M | $59M |
| Interest expense | $7M | $16M | $18M | $38M | $36M | $33M | $42M | $62M | $72M | $60M |
| Pre-tax income | — | — | — | — | — | -$21M | $21M | $9M | -$4M | $164,000 |
| Income tax | — | — | — | — | -$6M | -$2M | -$555,000 | -$3M | $1M | $2M |
| Net income | -$26M | -$15M | -$4M | -$25M | -$54M | -$29M | $6M | -$3M | -$18M | -$9M |
| EPS (diluted) | — | — | — | — | -$3.64 | -$1.48 | $0.07 | -$0.03 | -$0.20 | — |
| Diluted shares | — | — | — | — | 15M | 20M | 23M | — | — | — |
| Gross margin | 64.6% | 67.8% | 68.6% | — | — | — | 69.2% | 68.0% | 65.7% | 61.3% |
| Operating margin | -33.0% | 4.7% | 20.1% | 10.6% | -17.0% | 9.8% | 31.0% | 30.3% | 29.2% | 21.0% |
| Net margin | -57.8% | -19.5% | -4.6% | -22.6% | -43.8% | -17.4% | 3.0% | -1.2% | -7.8% | -3.1% |
Balance sheet
Fiscal years, from SmartStop Self Storage REIT's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $15M | $7M | $10M | $62M | $73M | $37M | $39M | $45M | $23M | $54M |
| Goodwill | — | — | — | $78M | $54M | $54M | $54M | $54M | $54M | $70M |
| Total assets | $753M | $817M | $796M | $1.3B | $1.3B | $1.6B | $1.9B | $1.9B | $2.0B | $2.4B |
| Total liabilities | $331M | $410M | $419M | $776M | $785M | $943M | $1.1B | $1.1B | $1.4B | $1.2B |
| Shareholders' equity | $411M | $379M | $345M | $274M | $183M | $343M | $467M | $404M | $326M | $1.2B |
| Net debt | -$15M | -$7M | -$10M | -$62M | -$73M | -$37M | -$39M | -$45M | -$23M | -$54M |
Cash flow
Fiscal years, from SmartStop Self Storage REIT's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$874,470 | $20M | $18M | $10M | $27M | $59M | $88M | $73M | $64M | $85M |
| Capital spending | $8M | $4M | $2M | — | — | — | — | — | — | — |
| Free cash flow | -$9M | $16M | $16M | — | — | — | — | — | — | — |
| Stock-based compensation | — | $33,971 | $75,293 | $404,540 | $2M | $3M | $4M | $5M | $5M | $17M |
| Dividends paid | $11M | $17M | $18M | $18M | $19M | $26M | $49M | $41M | $37M | $75M |
| Net borrowing | $220M | $36M | $19M | $284M | $341,717 | -$151M | $64M | $68M | $155M | -$204M |
| Free cash flow margin | -20.2% | 20.7% | 20.4% | — | — | — | — | — | — | — |
| Dividends per share | — | — | — | — | $1.29 | $1.32 | $2.15 | — | — | — |
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What was SmartStop Self Storage REIT's revenue in 2025?
$281M in fiscal 2025, from its 10-K filing.
From SmartStop Self Storage REIT's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.