Sonida Senior Living | 8-K: FY2026 Q2 Revenue: USD 207.65 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 207.65 M.
EPS: As of FY2026 Q2, the actual value is USD -0.52, missing the estimate of USD -0.48.
EBIT: As of FY2026 Q2, the actual value is USD 16.73 M.
Second Quarter 2026 Financial Highlights
- Net Loss Attributable to Common Shareholders: - $24.5 million, or - $0.52 per share .
- Normalized Funds from Operations (FFO): $23.7 million, or $0.48 per share .
- Adjusted EBITDA: $50.0 million, an increase of 30.0% over Adjusted EBITDA (pro forma) for Q2 2025 .
- Same-Store Net Operating Income (NOI): $51.5 million, an increase of 16.9% compared to the prior year .
- Same-Store Weighted Average Occupancy: 87.8%, an increase of 240 basis points year-over-year .
- RevPOR (Revenue Per Occupied Unit): $5,372, representing an increase of 4.9% from the same pro forma measures in the prior year .
Revenues (in thousands)
| Category | Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 |
|---|---|---|---|---|
| Resident revenue | $188,023 | $81,845 | $296,450 | $161,100 |
| Rental income | $7,506 | — | $9,201 | — |
| Management fee income | $1,185 | $1,134 | $2,330 | $2,195 |
| Managed community reimbursement revenue | $10,934 | $10,546 | $22,299 | $22,153 |
| Total revenues | $207,648 | $93,525 | $330,280 | $185,448 |
Expenses (in thousands)
| Category | Three Months Ended June 30, 2026 | Three Months Ended June 30, 2025 | Six Months Ended June 30, 2026 | Six Months Ended June 30, 2025 |
|---|---|---|---|---|
| Operating expense | $135,030 | $61,420 | $217,706 | $121,834 |
| General and administrative expense | $14,351 | $9,729 | $24,814 | $18,201 |
| Transaction, transition and restructuring costs | $4,775 | $461 | $30,869 | $1,071 |
| Depreciation and amortization expense | $43,183 | $13,646 | $63,143 | $27,332 |
| Managed community reimbursement expense | $10,934 | $10,546 | $22,299 | $22,153 |
| Third-party property management fees | $4,836 | — | $5,884 | — |
| Total expenses | $213,109 | $95,802 | $364,715 | $190,591 |
Other Income (Expense) (in thousands)
- Interest income: $321 (three months ended June 30, 2026) and $540 (six months ended June 30, 2026) .
- Interest expense: - $22,508 (three months ended June 30, 2026) and - $35,341 (six months ended June 30, 2026) .
- Gain on extinguishment of debt, net: $3,871 (three and six months ended June 30, 2026) .
- Loss from equity method investment: - $604 (three months ended June 30, 2026) and - $812 (six months ended June 30, 2026) .
- Other income (expense), net: - $15 (three months ended June 30, 2026) and $539 (six months ended June 30, 2026) .
- Loss before provision for income taxes: - $24,396 (three months ended June 30, 2026) and - $65,638 (six months ended June 30, 2026) .
- Provision for income taxes: - $325 (three months ended June 30, 2026) and - $533 (six months ended June 30, 2026) .
- Net loss: - $24,721 (three months ended June 30, 2026) and - $66,171 (six months ended June 30, 2026) .
- Net loss attributable to Sonida shareholders: - $24,464 (three months ended June 30, 2026) and - $65,692 (six months ended June 30, 2026) .
- Net loss attributable to common shareholders: - $24,464 (three months ended June 30, 2026) and - $85,854 (six months ended June 30, 2026) .
Cash Flows (in thousands)
- Net cash provided by (used in) operating activities: - $27,169 (six months ended June 30, 2026) .
- Net cash used in investing activities: - $922,932 (six months ended June 30, 2026) .
- Net cash provided by financing activities: $985,285 (six months ended June 30, 2026) .
- Increase (decrease) in cash, cash equivalents, and restricted cash: $35,184 (six months ended June 30, 2026) .
- Cash, cash equivalents, and restricted cash at end of period: $65,456 (six months ended June 30, 2026) .
Total Portfolio Metrics
- Net Operating Income (NOI): $64.0 million, a +15.7% year-over-year (YoY) increase .
- SHOP NOI Margin: 29.9% .
- Weighted Average Occupancy: 86.6%, an increase of 170 basis points (bps) YoY .
- Resident Revenue: $189.0 million, a +9.4% YoY increase .
- Adjusted Operating Expenses: $132.5 million, a +6.3% YoY increase .
- NNN Lease Income: $7.5 million, a +4.2% YoY increase compared to $7.2 million in Q2 2025 .
Same-Store SHOP Portfolio Metrics
- NOI Margin: 32.6%, an increase of 250 bps YoY .
- Incremental Flow Through: +63.4% YoY .
- Resident Revenue: $158.1 million, a +8.0% YoY increase .
- Adjusted Operating Expenses: $106.6 million, a +4.1% YoY increase .
Other Key Financial and Operational Metrics
- Enterprise Value: $3.5 billion .
- Owned Properties: 152 properties .
- Owned Units: Approximately 14,800 units .
- Private Pay: 93.7% (excluding NNN Portfolio) .
- Labor Costs: Declined 130 bps year-over-year to 40.4% as a percent of revenue .
- RevPOR-to-ExpPOR Spread: Expanded 410 bps .
- CHP Integration: Six communities transitioned in May delivered YoY NOI improvement exceeding 60% and expanded NOI Margin by 850 bps vs. Q2 2025 .
- Unrestricted cash: $48.7 million as of June 30, 2026 .
- Equity Distribution Agreement: Sonida Senior Living, Inc. sold 671,732 shares for $27.3 million in net proceeds .
- Debt Refinancing: Secured an Ally Term Loan of up to $380 million in August 2026, drawing $372.5 million to repay existing debt and reduce its secured revolving credit facility . This fully repaid the Bridge Loan Facility (- $170 million) and an existing Ally term loan (- $122 million; SOFR +265) .
- Acquisitions Under Contract: Approximately $88 million .
- Total Consolidated Debt: $1,593.9 million with a weighted average interest rate of 5.43% as of June 30, 2026, pro forma for Ally Bank financing .
- Debt Maturity: 97.3% of debt matures in 2029 or after .
Outlook / Guidance
Sonida Senior Living, Inc. aims to drive sustained strong Net Operating Income (NOI) growth in its existing portfolio, supported by organic growth and disciplined pipeline development . The company plans to fund this growth with an increasingly flexible balance sheet and a return-driven capital allocation framework, targeting double-digit unlevered returns and per-share free cash flow accretion . Furthermore, Sonida intends to scale its national platform to achieve incremental NOI Margins greater than 50% on a sequential basis and optimize its balance sheet to target mid-6x leverage through selective asset recycling .