---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-065649"
form_type: "8-K"
ticker: "SMA"
cik: "0001585389"
company_name: "SmartStop Self Storage REIT, Inc."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T08:06:24.504192+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SmartStop Q1 net loss $8.4M; FFO as adjusted $0.41/diluted share; same-store revenue +3.2%

## Summary
- Net loss attributable to common stockholders $8.4M (loss per Class A & T $0.35), vs loss $4.6M ($0.20) in Q1 2024.
- FFO as adjusted (attributable to common stockholders + OP unit holders) $11.2M ($0.41/diluted), vs $11.1M ($0.40) YoY.
- Same-store revenue +3.2%, same-store NOI +2.3%; same-store occupancy 92.6% (+0.5 ppts), annualized rent per sq ft $19.84 (+2.0%).
- Closed IPO of 31.05M shares at $30/share, net proceeds ~$875.6M; used to redeem all Series A Preferred ($203.6M), pay down debt ($472M to credit facility, $175M acquisition facility).
- Acquired three storage facilities in Q1 for ~$82.5M; post-quarter purchased Kelowna, BC facility for ~$28.3M and assumed $17.7M loan at 3.45%.

## SEC filing metadata
- accession: 0000950170-25-065649
- form_type: 8-K
- ticker: SMA
- cik: 0001585389
- company_name: SmartStop Self Storage REIT, Inc.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1585389/000095017025065649/0000950170-25-065649-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1585389/000095017025065649/ck0001585389-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-065649
- JSON: https://secwatch.observer/filing/0000950170-25-065649.json
- Plain text: https://secwatch.observer/filing/0000950170-25-065649.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.