StorageVault Canada (SVI) Q3 2026 earnings summary

Executive summary

• Portfolio comprised 275 Canadian storage locations, including 243 owned and 32 managed, with 13.8M+ rentable sq. ft., 120,051 units and 802+ acres.

• Q3 revenue rose 6.5% YoY to $94.2M and NOI increased 7.1% to $64.5M; 9M revenue grew 9.0% and NOI 8.7%.

• Strong customer demand and lead volumes supported results amid a more challenging economic and competitive environment.

Financial highlights

• Q3 net loss was $6.4M versus net income of $20.5M in Q3 2025; 9M net loss was $26.5M versus net income of $3.0M.

• Q3 FFO increased 7.7% to $27.2M and AFFO rose 6.3% to $28.9M; 9M FFO grew 9.1% to $67.9M and AFFO 7.8% to $73.7M.

• Cash flow from operations was $83.8M for 9M, and cash balance was $19.0M at September 30, 2026.

Segment performance

• Existing Self Storage Q3 revenue increased 2.1% and NOI 3.1% YoY; 9M revenue rose 4.1% and NOI 4.4%.

• New Self Storage Q3 revenue grew 40.0% to $13.8M and NOI rose 54.9% to $7.3M; 9M revenue increased 51.8% and NOI 65.0%.

• Portable Storage Q3 revenue increased 3.9% to $3.0M and NOI 0.9% to $1.1M; 9M revenue rose 0.1% and NOI declined 5.0%.