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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 59,590,370 $ 51,788,248 $ 116,725,635 $ 99,772,109
Operating expenses:        
General and administrative 7,181,892 7,946,583 13,718,518 13,784,230
Depreciation 13,375,922 11,826,106 26,648,193 22,934,092
Intangible amortization expense 1,835,691 4,471,973 3,755,396 8,372,857
Acquisition expenses 11,106 285,097 42,296 702,871
Contingent earnout adjustment 0 800,000 0 1,313,821
Write-off of equity interest and preexisting relationships upon acquisition of control 0 2,049,682 0 2,049,682
Total operating expenses 40,980,284 42,839,437 81,214,674 79,255,712
Gain on equity interests upon acquisition 0 16,101,237 0 16,101,237
Income from operations 18,610,086 25,050,048 35,510,961 36,617,634
Other income (expense):        
Other, net 1,192,515 (264,812) 1,943,493 (293,327)
Interest expense (14,904,549) (8,852,586) (29,608,446) (16,428,370)
Net loss on extinguishment of debt 0 (2,393,475) 0 (2,393,475)
Income tax benefit (expense) 133,794 833,033 (143,426) 511,906
Net income 4,279,354 14,013,122 6,311,954 17,282,581
Net (income) attributable to noncontrolling interests (769,518) (1,758,141) (1,109,883) (2,161,963)
Less: Distributions to preferred stockholders (3,116,438) (3,116,439) (6,198,630) (6,198,631)
Net income (loss) attributable to SmartStop Self Storage REIT, Inc. common stockholders $ 393,398 $ 9,138,542 $ (996,559) $ 8,921,987
Net income (loss) per Class A & Class T share - basic $ 0.00 $ 0.10 $ (0.01) $ 0.10
Net income (loss) per Class A & Class T share - diluted $ 0.00 $ 0.10 $ (0.01) $ 0.10
Self Storage Rental Revenue        
Revenues:        
Total revenues $ 51,677,815 $ 46,471,360 $ 102,954,713 $ 89,528,232
Ancillary Operating Revenue        
Revenues:        
Total revenues 2,180,151 2,098,835 4,370,773 4,073,155
Managed REIT Platform Revenue        
Revenues:        
Total revenues 4,320,705 2,013,134 6,597,240 3,822,230
Reimbursable Costs from Managed REITs        
Revenues:        
Total revenues 1,411,699 1,204,919 2,802,909 2,348,492
Operating expenses:        
Operating expenses 1,411,699 1,204,919 2,802,909 2,348,492
Property Operating Expenses        
Operating expenses:        
Operating expenses 16,482,843 13,637,231 33,016,295 26,742,556
Managed REIT Platform Expenses        
Operating expenses:        
Operating expenses $ 681,131 $ 617,846 $ 1,231,067 $ 1,007,111
Class A and T Common stock        
Other income (expense):        
Net income (loss) per Class A & Class T share - basic $ 0.00 $ 0.10 $ (0.01) $ 0.10
Net income (loss) per Class A & Class T share - diluted $ 0.00 $ 0.10 $ (0.01) $ 0.10
Weighted average number of shares outstanding- basic 96,815,006 88,982,266 96,817,849 87,010,958
Weighted average number of shares outstanding, Diluted 97,251,835 89,508,173 96,817,849 87,489,574
Class A Common stock        
Other income (expense):        
Weighted average number of shares outstanding- basic 88,717,078 80,896,716 88,726,076 78,932,668
Weighted average number of shares outstanding, Diluted 89,153,907 81,422,623 88,726,076 79,411,284
Class T Common stock        
Other income (expense):        
Weighted average number of shares outstanding- basic 8,097,928 8,085,550 8,091,773 8,078,290
Weighted average number of shares outstanding, Diluted 8,097,928 8,085,550 8,091,773 8,078,290
JV Properties        
Other income (expense):        
Equity in earnings (losses) from investments $ (535,767) $ (191,109) $ (940,878) $ (424,403)
Managed REITs        
Other income (expense):        
Equity in earnings (losses) from investments $ (216,725) $ (167,977) $ (449,750) $ (307,384)