Sonida Senior Living, Inc. (SNDA)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$526.0M

Revenue growth

49.4%

Net income, last twelve months

-$122.4M

Earnings per share

-$6.19

Operating margin

-13.6%

Net margin

-23.3%

Free cash flow

-$52.7M

Return on equity

-14.2%

Market value

$1.6B

Cash

$48.7M

Debt

$1.6B

Debt to equity

1.82

Shares outstanding

47.4M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter 2026 results, filed 10 August 2026.

• Adjusted EBITDA rose 30 percent. Adjusted EBITDA was $50.0 million, an increase of 30.0% over the pro forma figure for the second quarter of 2025, which includes CHP as if owned from the start of that period.
• Normalized FFO was $0.48 a share. Normalized FFO was $23.7 million, or $0.48 per diluted share, on 48.9 million diluted weighted average shares including dilutive securities.
• Net loss per share widened. Net loss attributable to common shareholders was $24.5 million, or $(0.52) per share, compared with $(0.16) per share in the second quarter of 2025.
• Same-store NOI rose 16.9%. Same-Store NOI was $51.5 million, up 16.9% from the prior year. Management attributed 250 basis points of margin expansion to occupancy and NOI growth.
• Excluded communities nearly doubled. The same-store pool excluded 27 Non Same-Store consolidated communities in the second quarter of 2026, compared with 14 in the second quarter of 2025.
• Non Same-Store communities reported negative NOI. NOI for Non Same-Store communities was negative $5.0 million, compared with negative $1.7 million in the second quarter of 2025.
• CHP acquisition closed March 11. The company completed its acquisition of CHP on March 11, 2026, through a forward merger into a subsidiary, and now indirectly owns all of CHP's assets.
• Total revenues more than doubled. Total revenues were $207.6 million, compared with $93.5 million in the second quarter of 2025. Operating expense was $135.0 million, compared with $61.4 million.
• Rental income appeared this quarter. Rental income was $7.5 million in the second quarter of 2026, compared with no rental income reported in the second quarter of 2025.
• Interest expense more than doubled. Interest expense was $22.5 million, compared with $9.3 million a year earlier. The company also recorded a $3.9 million gain on extinguishment of debt, net.
• Depreciation and amortization more than tripled. Depreciation and amortization expense was $43.2 million, compared with $13.6 million in the second quarter of 2025.
• G&A expense rose to $14.4 million. General and administrative expense was $14.4 million in the second quarter of 2026, compared with $9.7 million in the second quarter of 2025.
• Transaction costs rose to $4.8 million. Transaction, transition and restructuring costs were $4.8 million, compared with $0.5 million a year earlier. The company describes these as legal and professional fees.
• Ally term loan of up to $380 million. The company drew $372.5 million on the Ally Term Loan at closing. The loan was entered on August 7, 2026, after the quarter ended.

Revenue by segment

As the company reports it in the segment note of its annual report.

By product, FY2025

Company events

The newest 8-K filings of 284 held.

Every filing

The newest filings with the SEC of 632 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

271 funds held it at 30 Jun 2026: 119 added and 59 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Brookdale Senior Living Inc. (BKD): revenue $3.1B, market value $2.4B
• Healthcare Services Group Inc. (HCSG): revenue $1.9B, market value $1.6B

What the company does

Sonida Senior Living, Inc. is a Delaware corporation that owns, operates and invests in senior housing communities in the United States. The company calls itself a leading owner, operator and investor in the field by resident capacity. It and its predecessors have provided senior housing since 1990. As of 31 December 2025, it owned, managed or invested in 96 communities in 20 states with an aggregate capacity of approximately 10,150 residents. Of these, 84 were owned and 12 were managed for a third party.

What it sells

Sonida mainly provides housing and services to people aged 75 and older. It offers independent living, assisted living and memory care, and many communities combine these so residents can move to more care without leaving. Across the 96 communities, resident capacity is 3,292 in independent living, 4,974 in assisted living and 1,884 in memory care.

Independent living includes meals, transportation, housekeeping, laundry, social activities and 24-hour staffing. Assisted living covers help with daily activities such as bathing, dressing and medications, with a care plan for each resident. Memory care is offered in separate secured areas for residents with certain forms of dementia. Its memory care program is called Magnolia Trails. Sonida also offers respite stays with a minimum of two weeks, on-site therapy programs through outside providers, and home care through third-party providers at most communities.

How it earns money

Their agreements are generally for one year and can usually be ended by either side on 30 days' notice, unless state law says otherwise. Memory care fees depend on the level of services provided, and some supplemental services carry extra charges. Some communities receive a portion of their funds from Medicaid.

Sonida also manages communities for others. Under these arrangements it receives a management fee set as a percentage of gross revenues, incentive fees in some cases, and reimbursement of certain expenses. It manages 12 communities for a third party and four communities for the Stone JV, in which it owns 32.71%. It owns 51% of two joint ventures with Palatine Capital Partners that hold four communities in Texas (3) and Georgia (1).

How it is run

Corporate functions sit in the Dallas Support Center in Dallas, Texas. These include accounting, finance, legal, human resources, information technology, purchasing and training. Each community has an executive director who reports to a regional director. Regional directors generally cover 4 to 11 communities. Divisional presidents oversee approximately 48 communities and report to the Chief Executive Officer.

Each community is inspected in person at least quarterly by regional or operational leaders. Most communities have an on-site Sales Director, whose pay includes a variable part tied to occupancy and rate. A central marketing team supports them.

The CHP merger

On 11 March 2026, after the year covered by this report, Sonida completed its acquisition of CNL Healthcare Properties, Inc. ("CHP"). CHP owns 69 senior housing communities. Of these, 54 are managed by third-party property managers and 15 are leased to tenants under triple-net leases. Thirteen of the 15 are leased to one tenant, under leases scheduled to expire in May 2030. Two of the CHP communities are skilled nursing facilities. The company says the merger more than doubles its owned units to approximately 14,700. The operating description in the filing leaves CHP out.

Competition and regulation

Sonida competes with national operators and with regional and local independent operators. The filing lists these competitive factors: on-site staff quality, location, reputation, support services such as food, pricing, and the physical appearance and amenities of communities. Prospective residents tend to choose communities near their homes, so its main competitors are other senior living and long-term care communities in the same areas.

No federal laws specifically regulate assisted or independent living residences. Its assisted living communities are regulated and licensed by state and local health care and social service agencies. Its communities are also subject to zoning rules, building and fire codes, the Americans with Disabilities Act of 1990 and HIPAA.

Its people

As of 31 December 2025, Sonida employed 5,140 people, of whom 3,423 were full-time and 1,717 were part-time. It also had 16 unfilled community leadership positions. The filing reports that 82% of the workforce is female and 55% has a diverse background. Benefits include paid time off for full-time and part-time employees, a 401(k) plan, and development programs that sponsor employees seeking further education, licensure and credentials.

*From Sonida Senior Living's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1043000/000104300026000009/snda-20251231.htm)*

From the company's 10-K.