Tag: revolving credit

Q2 2025 revenues increased ~76% to $23.7 million and gross profit increased ~182% to $6.3 million

– Total Revenues increased 13.8% for the quarter over the prior year period to $60.3 million –
– Total Written Premium increased 14.4% for the quarter over the prior year period to $450.3 million –
– Organic Revenue Growth Rate* of 10.6% for the quarter –
– Net income of $9.0 million for the quarter –
– Adjusted EBITDA* increased 40.7% for the quarter over the prior year period to $15.1 million –

MALVERN, Pa., Aug. 11, 2025 (GLOBE NEWSWIRE) -- CubeSmart (NYSE: CUBE) (the “Company” or “CubeSmart”), the third-largest owner and operator of self-storage properties in the United States, today announced that its operating partnership, CubeSmart, L.P. (the “Operating Partnership”), priced an offering of $450.0 million aggregate principal amount of 5.125% senior unsecured notes due 2035 (the “Notes”) in an underwritten public offering. The Notes were priced at 98.656% of the principal amount with a yield to maturity of 5.295%. The Notes will be fully and unconditionally guaranteed by CubeSmart. The offering is expected to close on August 20, 2025, subject to the satisfaction of customary closing conditions.

Increases 2025 Adjusted EBITDA Guidance

Posts Positive Organic Growth and Adjusted EBITDA^‎1 of 23.5% of Revenue

Increased revenue 13% YoY and maintained sustained PAC price improvement