Sonida Senior Living, Inc. (NYSE:SNDA) Q1 2022 Earnings Conference Call May 23, 2022 1:00 PM ET Company Participants Kimberly Lody - President & Chief Executive Officer Kevin Detz - Chief Financial Officer Brandon Ribar - Chief Operating Officer Conference Call Participants Steven Valiquette - Barclays Operator Good day and welcome to Sonida Senior Living First Quarter 2022 Conference Call. Today's conference is being recorded. All statements today, which are not historical facts may be deemed to be forward ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13445 Sonida Senior Living, Inc. (Exact Name of Registrant as Specified in its Charter) (State or Other Jurisdiction of Incorpora ...

Sonida Senior Living, Inc. (NYSE:SNDA) Q4 2021 Results Conference Call April 18, 2022 1:30 PM ET Company Participants Kimberly Lody - President and Chief Executive Officer Brandon Ribar - Chief Operating Officer Conference Call Participants Steven Valiquette - Barclays Operator Good day, and welcome to the Sonida Senior Living Fourth Quarter and Full Year 2021 Earnings Release Conference Call. Today's conference is being recorded. All statements today, which are not historical facts may be deemed to be forw ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________________________________________________ Form 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2021 Or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13445 Sonida Senior Living, I ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13445 Capital Senior Living Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 75-2678809 (State or ...

Capital Senior Living Corporation (CSU) Q3 2021 Results Conference Call November 11, 2021 2:30 PM ET Company Participants Kimberly Lody - President and Chief Executive Officer Brandon Ribar - Chief Operating Officer Tiffany Dutton - Senior Vice President, Accounting and Finance Conference Call Participants Steven Valiquette - Barclays Operator Good day, and welcome to the Capital Senior Living Q3 2021 Earnings Release Conference Call. Today's conference is being recorded. All statements today, which are not ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 1-13445 Capital Senior Living Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 75-2678809 (State or Other ...

Capital Senior Living Corporation (CSU) Q2 2021 Earnings Conference Call August 12, 2021 2:30 PM ET Company Participants Kimberly Lody - President and Chief Executive Officer Brandon Ribar - Chief Operating Officer Tiffany Dutton - Senior Vice President, Accounting and Finance Conference Call Participants Steven Valiquette - Barclays Operator Good day and welcome to the Capital Senior Living Second Quarter 2021 Earnings Call Release Conference Call. Today’s conference is being recorded. All statements today ...

A Leading Owner-Operator of Senior Living Communities and Services Investor Presentation May 12th, 2021 DISCOVER the difference Forward-Looking Statements & Non-GAAP Financial Measures Forward Looking Statements: The forward-looking statements in this presentation are subject to certain risks and uncertainties that could cause the Company's actual results and financial condition to differ materially, including, but not limited to, the continued spread of COVID-19, including the speed, depth, geographic reac ...

Part I. Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements.) The company's Q1 2021 net income of $38.8 million was driven by non-operating gains, masking a significant revenue decline [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Total assets and liabilities decreased, while the shareholders' deficit improved to $240.3 million due to quarterly net income Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Cash and cash equivalents | $16,766 | $17,885 | | Total current assets | $35,246 | $43,428 | | Total assets | $686,898 | $702,833 | | Total current liabilities | $320,759 | $373,122 | | Total liabilities | $927,153 | $982,098 | | Total shareholders' deficit | ($240,255) | ($279,265) | [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) A $38.8 million net income was achieved due to a gain on debt extinguishment, despite a significant drop in resident revenue Q1 2021 vs. Q1 2020 Statement of Operations (in thousands, except per share data) | Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Total revenues | $61,648 | $106,129 | | Total expenses | $68,654 | $145,347 | | Gain on extinguishment of debt | $46,999 | $0 | | Other income | $8,705 | $1 | | Net income (loss) | $38,844 | ($47,181) | | Basic net income (loss) per share | $18.87 | ($23.28) | | Diluted net income (loss) per share | $18.80 | ($23.28) | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations turned positive to $3.3 million, though overall cash decreased by $1.1 million for the quarter Cash Flow Summary (in thousands) | Activity | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Net cash provided by (used in) operating activities | $3,264 | ($5,001) | | Net cash provided by (used in) investing activities | ($2,108) | $1,045 | | Net cash used in financing activities | ($2,275) | ($5,235) | | **Decrease in cash and cash equivalents** | **($1,119)** | **($9,191)** | [Notes to Financial Statements](index=8&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) The notes reveal substantial doubt about the company's going concern status due to losses, debt issues, and covenant noncompliance - The company has concluded that **substantial doubt exists about its ability to continue as a going concern** due to the impact of COVID-19, $72.5 million of debt maturing in 2021, recurring operating losses, and noncompliance with loan covenants[25](index=25&type=chunk)[28](index=28&type=chunk) - In Q1 2021, the company transferred legal ownership of three properties to Fannie Mae, resulting in the recognition of a **$47.0 million gain** on the extinguishment of related debt[33](index=33&type=chunk)[80](index=80&type=chunk) - The company received **$8.7 million in CARES Act Provider Relief Funds** in January 2021, which was recorded as other income for the quarter[27](index=27&type=chunk) - The company was **not in compliance with financial covenants** on loans with Fifth Third Bank ($31.5 million) and BBVA ($41.0 million), resulting in defaults that make the loans callable[85](index=85&type=chunk)[86](index=86&type=chunk) - By December 31, 2020, the company had **exited all of its master lease agreements**, a major strategic shift from its previous operating model[63](index=63&type=chunk)[105](index=105&type=chunk) [Management's Discussion and Analysis (MD&A)](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the going concern uncertainty, the impact of COVID-19, and strategic shifts driving operational results [COVID-19 Pandemic Impact](index=24&type=section&id=COVID-19%20Pandemic) The pandemic decreased occupancy and increased costs, with financial impacts partially offset by CARES Act funds - The company incurred **$1.0 million in costs** related to the COVID-19 pandemic during the three months ended March 31, 2021[117](index=117&type=chunk) - In January 2021, the company accepted an additional **$8.7 million in CARES Act Provider Relief Funds**, which was recorded as other income[119](index=119&type=chunk) - As of March 31, 2021, the company had **deferred $7.4 million in payroll taxes** under the CARES Act program[120](index=120&type=chunk) [Going Concern and Management's Plan](index=25&type=section&id=Going%20Concern%20and%20Management's%20Plan) Management acknowledges substantial doubt about going concern due to debt maturities and covenant breaches, outlining an unassured remediation plan - Conditions raising substantial doubt include **$72.5 million of debt maturing or callable**, recurring operating losses, and non-compliance with loan covenants[125](index=125&type=chunk) - Management's strategic initiatives include resolving debt noncompliance, transferring underperforming assets to Fannie Mae, and seeking new capital, but the **success of these plans is not assured**[127](index=127&type=chunk)[128](index=128&type=chunk)[129](index=129&type=chunk) [Results of Operations](index=29&type=section&id=Results%20of%20Operations) Q1 2021 revenue fell 42% due to property dispositions, but net income became positive from non-operating gains Q1 2021 vs. Q1 2020 Key Metrics (in thousands) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Resident revenue | $45,202 | $105,616 | | Total revenues | $61,648 | $106,129 | | Total expenses | $68,654 | $145,347 | | Long-lived asset impairment | $0 | $35,954 | | Gain on extinguishment of debt | $46,999 | $0 | | Net income (loss) | $38,844 | ($47,181) | - The **57% decrease in resident revenue** was driven by the sale of two owned properties, the transition of 39 leased communities, and the process of transferring 18 communities to Fannie Mae[145](index=145&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) The company has limited liquidity with $16.8 million in cash and faces callable debt due to loan covenant defaults - The company held approximately **$16.8 million of unrestricted cash** as of March 31, 2021[152](index=152&type=chunk) - The company was **not in compliance with financial covenants** for its loan agreements with Fifth Third Bank ($31.5M) and BBVA ($41.0M), constituting defaults[166](index=166&type=chunk)[167](index=167&type=chunk) - During Q1 2021, the company completed the transfer of three communities back to Fannie Mae, recognizing a **$47.0 million gain on debt extinguishment**[162](index=162&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section is not applicable as permitted for smaller reporting companies - The company has indicated that **this section is not applicable**[169](index=169&type=chunk) [Controls and Procedures](index=34&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were ineffective due to a previously identified material weakness - The CEO and PFO have concluded that the company's disclosure controls and procedures are **ineffective** as of the end of the reporting period[172](index=172&type=chunk) - A remediation plan for the identified material weakness is in progress, with expected completion by the **end of Q4 2021**[174](index=174&type=chunk) Part II. Other Information [Legal Proceedings](index=35&type=section&id=Item%201.%20Legal%20Proceedings) The company faces various claims in the normal course of business that are not expected to have a material adverse effect - The company faces claims in the normal course of business but does **not expect them to have a material adverse effect** on its financial statements[175](index=175&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) Key risks include substantial doubt about the company's going concern status and defaults on debt covenants - A primary risk factor is the **substantial doubt about the company's ability to continue as a going concern**, which could render its common stock worthless if it becomes insolvent[177](index=177&type=chunk) - The company is in **default on loan agreements** with Fifth Third Bank and BBVA, making the debt callable and posing a risk of acceleration[180](index=180&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=36&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No equity securities were repurchased during the quarter, and none are anticipated in the near term - **No shares** of the company's common stock were repurchased during the three months ended March 31, 2021[182](index=182&type=chunk) - The company **does not expect to repurchase any shares** in the near term, despite having approximately $6.6 million available under its authorized program[182](index=182&type=chunk) [Other Items (3, 4, 5, 6)](index=36&type=section&id=Other%20Items) Several standard disclosure items are reported as not applicable, while exhibits for the filing are listed - Items 3, 4, and 5 are reported as **'Not applicable'**[183](index=183&type=chunk)[184](index=184&type=chunk)[186](index=186&type=chunk)