Investor Presentaiton
Reconciliation: Net Income (Loss) to Net
Operating Income
Net income
Adjusted to exclude:
Tenant protection program revenues
Managed REIT Platform revenue
Managed REIT Platform expenses
General and administrative
Depreciation
Intangible amortization expense
2023 Q3
$2,978,726
2023 Q2
$4,279,354
2023 Q1
2022 Q4
$2,032,600
$2,140,347
2022 Q3
$2,246,524
(1,986,542)
(1,910,375)
(1,929,505)
(1,922,281)
(1,942,462)
(2,517,853)
(4,320,705)
(2,276,535)
(1,941,762)
(2,055,224)
1,307,006
6,277,252
Acquisition expenses
13,427,138
1,731,791
75,933
681,131
7,181,892
13,375,922
1,835,691
11,106
549,936
752,580
725,599
6,536,626
7,139,430
7,330,245
13,272,271
13,262,671
13,220,916
1,919,705
31,190
1,978,063
4,849,934
107,325
Contingent earnout adjustment
Interest expense
15,925,440
14,904,549
14,703,897
13,330,885
77,813
200,626
11,752,656
Equity in earnings of unconsolidated joint
venture properties
274,236
Equity in earnings (losses) of investments in Managed REITS
444,043
535,767
216,725
405,111
233,025
148,479
187,123
282,653
340,164
Income tax (expense) benefit
(1,050,050)
Other
(432,645)
Net operating income
$36,454,475
(133,794)
(1,192,515)
$35,464,748
277,220
(152,543)
102,233
(750,978)
$35,004,563
602,660
$35,728,507
(1,729,957)
$35,306,190
SmartStop
Self Storage REIT, Inc.
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