Global Self Storage | 10-Q: FY2026 Q1 Revenue: USD 3.174 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 3.174 M.
EPS: As of FY2026 Q1, the actual value is USD 0.04.
EBIT: As of FY2026 Q1, the actual value is USD 703.4 K.
Global Self Storage, Inc. operates in a single segment, focusing on rental operations from its same-store portfolio .
Segment Revenue
Total revenues for the three months ended March 31, 2026, increased by 1.5% to $3,173,754, compared to $3,126,304 for the same period in 2025 . Rental income rose by 1.7% to $3,050,304 in Q1 2026 from $3,000,052 in Q1 2025 . Other property related income decreased by 2.8% to $104,831 in Q1 2026 from $107,870 in Q1 2025 . Management fees and other income increased to $18,619 in Q1 2026 from $18,382 in Q1 2025 .
Operational Metrics
Total operating expenses increased by 8.3% to $2,601,978 in Q1 2026 from $2,402,637 in Q1 2025 . Store operating expenses rose by 10.0% to $1,330,343 in Q1 2026 from $1,208,898 in Q1 2025 . General and administrative expenses increased by 9.2% to $859,220 in Q1 2026 from $786,893 in Q1 2025 . Operating income decreased by 21.0% to $571,776 in Q1 2026 from $723,667 in Q1 2025 . Net income was $477,019 in Q1 2026, down from $555,152 in Q1 2025 . Interest expense decreased to - $203,878 in Q1 2026 from - $223,769 in Q1 2025 .
Cash Flow
Net cash provided by operating activities was $979,931 for the three months ended March 31, 2026, a decrease from $1,069,899 for the same period in 2025 . Net cash used in investing activities was - $52,298 in Q1 2026, compared to - $45,639 in Q1 2025 . Net cash used in financing activities was - $975,813 in Q1 2026, compared to - $964,263 in Q1 2025 .
Unique Metrics
Funds from Operations (FFO) decreased by 12.6% to $852,563 in Q1 2026 from $975,343 in Q1 2025 . Adjusted Funds from Operations (AFFO) decreased by 11.0% to $957,934 in Q1 2026 from $1,076,079 in Q1 2025 . For same-store properties, occupancy increased to 93.1% as of March 31, 2026, up from 92.1% as of March 31, 2025 . Same-store revenues increased by 1.5%, while same-store cost of operations increased by 10.0% for Q1 2026 compared to Q1 2025 . Same-store Net Operating Income (NOI) decreased by 3.9% to $1,824,792 in Q1 2026 from $1,899,024 in Q1 2025 . The average tenant duration of stay was approximately 3.6 years as of March 31, 2026, an increase from 3.5 years as of March 31, 2025 .
Future Outlook and Strategy
Global Self Storage, Inc. expects to have sufficient cash from current sources to meet liquidity needs for the next twelve months . As of March 31, 2026, capital resources totaled approximately $24.5 million, including $7.4 million in cash, $2.3 million in marketable securities, and $14.8 million available under the Second Amended Credit Facility Loan Agreement . The company intends to use available proceeds to fund acquisitions of additional self-storage properties, expansion projects, and joint ventures . Management anticipates rental income growth from continued existing tenant rent increases, higher rental rates for new tenants, lower promotional discounts, and increased occupancies, with existing tenant rent increases for the remainder of 2026 expected to be similar to the prior year .
