2024 Q4 Form 10-Q Financial Statement

#000095017024124032 Filed on November 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $3.200M
YoY Change 3.56%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $2.327M
YoY Change 2.89%
Operating Profit $873.1K
YoY Change 5.38%
Interest Expense $259.4K
YoY Change 21.96%
% of Operating Profit 29.71%
Other Income/Expense, Net $308.6K
YoY Change -155.32%
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings $1.182M
YoY Change 336.43%
Net Earnings / Revenue 36.92%
Basic Earnings Per Share $0.11
Diluted Earnings Per Share $0.10
COMMON SHARES
Basic Shares Outstanding 11.26M 11.27M
Diluted Shares Outstanding 11.16M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $6.762M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $694.1K
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $66.28M
YoY Change -0.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $18.21M
YoY Change -4.1%
SHAREHOLDERS EQUITY
Retained Earnings -$1.497M
YoY Change 8.33%
Common Stock $112.7K
YoY Change 1.12%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $48.06M
YoY Change
Total Liabilities & Shareholders Equity $66.28M
YoY Change -0.9%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income $1.182M
YoY Change 336.43%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">1. ORGANIZATION</span></p><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Global Self Storage, Inc. (the “Company,” “we,” “our,” “us”) is a self-administered and self-managed Maryland real estate investment trust (“REIT”) that owns, operates, manages, acquires, and redevelops self storage properties (“stores” or “properties”) in the United States. As of September 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, through its wholly owned subsidiaries, the Company owned and/or managed </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> self-storage properties in Connecticut, Illinois, Indiana, New York, Ohio, Pennsylvania, South Carolina, and Oklahoma. The Company operates primarily in </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> segment: rental operations.</span>
CY2024Q3 us-gaap Number Of Stores
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CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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self Percentage Of Real Estate Investment Trust Taxable Income Distributed For Exemption Of Federal Income Tax
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CY2024Q3 us-gaap Unrecognized Tax Benefits
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self Services Agreement Original Terms
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self Number Of Contract
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us-gaap Asset Impairment Charges
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us-gaap Use Of Estimates
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<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from management's estimates.</span></p>
CY2024Q3 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
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CY2023Q4 us-gaap Equity Securities Fv Ni
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self Fair Value Of Assets Level1 To Level2 Transfers Amount
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CY2024Q3 self Long Term Debt Maturities Repayments Of Principal After Year Four1
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CY2024Q3 us-gaap Debt Instrument Carrying Amount
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CY2023Q4 us-gaap Operating Lease Liability
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CY2023Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
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CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q3 us-gaap Net Income Loss
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CY2023Q3 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss
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CY2024Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
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CY2023Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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CY2024Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q3 self Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
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CY2023Q3 self Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
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self Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
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self Weighted Average Number Of Shares Outstanding Net Effect Of Dilutive Unvested Restricted Stock Awards Included For Treasury Stock Method
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CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2024Q3 us-gaap Earnings Per Share Basic
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CY2023Q3 us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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us-gaap Earnings Per Share Basic
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CY2024Q3 us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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CY2024Q3 us-gaap Dividends Common Stock
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CY2024Q3 us-gaap Common Stock Dividends Per Share Cash Paid
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CY2023Q3 us-gaap Dividends Common Stock
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us-gaap Dividends Common Stock
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us-gaap Common Stock Dividends Per Share Cash Paid
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us-gaap Dividends Common Stock
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us-gaap Common Stock Dividends Per Share Cash Paid
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self Reimbursement Of Automobile Expenses
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self Automobile Reimbursement Amount
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self Automobile Reimbursement Amount
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CY2024Q3 us-gaap Common Stock Shares Authorized
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CY2024Q3 us-gaap Common Stock Par Or Stated Value Per Share
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CY2024Q3 us-gaap Common Stock Shares Outstanding
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CY2024Q3 us-gaap Common Stock Shares Issued
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CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2024Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
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us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Credit Risk</span></p><p style="text-indent:4.173%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Credit risk - Financial assets that are exposed to credit risk consist primarily of cash, cash equivalents, and restricted cash and certain portions of accounts receivable including rents receivable from our tenants. Risk to collection of rents receivable is mitigated by: (i) dispersion of rents receivable across many tenants, (ii) marketing targeted to tenants that have established credit, (iii) use of autopay, and (iv) use of collection procedures. Cash, cash equivalents and restricted cash are on deposit with highly rated commercial banks and financial institutions.</span></p>
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