Thu, May 8, 8:47 PM (9 days ago)
### Strategic Storage Trust VI, Inc. (Ticker: None) Q1 2025 Financial Health and Performance **Quarterly Financial Health:** - **Revenue:** $7.3 million, up 11% YoY due to increased non-same-store revenues from lease-up of non-stabilized properties. - **Net Loss:** $7.2 million, an improvement from $8.9 million in Q1 2024. - **Operating Expenses:** Property operating expenses remained stable at $2.9 million, while general and administrative expenses increased by $0.1 million. - **Interest Expense:** $4.1 million, down from $4.7 million in Q1 2024 due to lower interest rates on new debt. - **Cash Flow:** Net cash used in operating activities was $1.3 million, an increase from $0.8 million in Q1 2024. **Performance Metrics:** - **Same-Store Revenue Growth:** 6.8% YoY, driven by increased occupancy and revenue per occupied square foot. - **Occupancy:** Average physical occupancy increased by 2.1% YoY. - **Debt:** Total indebtedness was $278.2 million, with $156.0 million in variable rate debt and $124.6 million in fixed rate debt. **Profit Margins:** - **Operating Margin:** Negative, reflecting ongoing investments and operational costs. - **Net Margin:** Negative, indicating continued losses but showing improvement YoY. **Cash Flow:** - **Operating Cash Flow:** Negative $1.3 million, reflecting investments and operational costs. - **Investing Cash Flow:** Negative $4.0 million, primarily due to additions to real estate facilities. - **Financing Cash Flow:** Positive $4.6 million, driven by net debt proceeds. **Earnings Changes:** - **Revenue Growth:** Positive, with a focus on lease-up of non-stabilized properties. - **Expense Management:** Stable property operating expenses but increased general and administrative expenses. **Quarterly Performance Discussion:** - **Revenue Trends:** Positive, with a focus on lease-up and non-same-store revenues. - **Expense Trends:** Stable property operating expenses but increased administrative costs. - **Debt Management:** Strategic use of debt with a mix of fixed and variable rates. **Trends and Uncertainties:** - **Market Conditions:** Positive revenue growth but faced with increased operating expenses. - **Economic Factors:** Interest rates and economic conditions impact debt and operational costs. - **Future Operations Impact:** Continued focus on lease-up and strategic debt management. **Future Outlook:** - **Revenue Growth:** Expected to increase with future acquisitions and lease-up activities. - **Expense Management:** Continued focus on controlling operational costs. - **Debt Management:** Strategic use of debt to fund growth and operational needs. **Conclusion:** Strategic Storage Trust VI, Inc. showed positive revenue growth and improved net loss in Q1 2025. The company is focusing on lease-up activities and strategic debt management to drive future growth. However, operational costs and economic factors remain significant considerations.