Financial Performance - The Company reported a net loss of $(0.85) per basic and diluted share, with Nareit defined Funds from Operations (FFO) of $0.19 per diluted share, and Adjusted Funds from Operations (AFFO) of $0.32 per diluted share[6]. - The net loss attributable to common stockholders for Q2 2025 was $24,189,000, compared to a net loss of $5,019,000 in Q1 2025, indicating a significant increase in losses[33]. - The comprehensive loss attributable to common stockholders for Q2 2025 was $26,394,000, compared to $10,013,000 in Q1 2025, indicating a worsening of financial performance[31]. - The company reported a net loss per share attributable to common stockholders of $0.85 for Q2 2025, compared to $0.18 in Q1 2025[31]. - Net loss attributable to common stockholders for Q2 2025 was $(24,189) thousand, compared to $(5,019) thousand in Q1 2025, reflecting a significant increase in losses[35]. - The company reported an operating loss before gain on sale of real estate of $8,170,000 for Q2 2025, an improvement from a loss of $11,965,000 in Q1 2025[30]. - The company’s EBITDA for Q2 2025 was $13,541 thousand, a decrease from $36,714 thousand in Q1 2025[38]. Revenue and Income - Same Store revenue increased by 11.8% year-over-year, with Same Store Cash NOI Margin expanding by 0.9% to 19.5%[6]. - Revenue from tenants for Q2 2025 was $85,332,000, a decrease of 1.3% from Q1 2025's $86,443,000[30]. - Net Operating Income (NOI) for Q2 2025 was $31,484 thousand, up from $28,903 thousand in Q1 2025, representing an increase of 5.5%[38]. - Same Store Cash Net Operating Income (NOI) growth was 8.5% year-over-year, with the Senior Housing Operating Property (SHOP) segment showing a growth of 17.3%[6]. Expenses and Liabilities - Total expenses for Q2 2025 were $93,502,000, down from $98,408,000 in Q1 2025, reflecting a reduction of 5.8%[30]. - The total liabilities increased to $1,350,792,000 in Q2 2025 from $1,289,364,000 in Q1 2025, marking a rise of 4.8%[28]. - The company reported impairment charges for Q2 2025 of $15,212,000, up from $11,899,000 in Q1 2025, representing a 27.5% increase[33]. Equity and Debt - Total stockholders' equity rose to $756,745,000 in Q2 2025, up from $702,648,000 in Q1 2025, reflecting a growth of 7.7%[28]. - The total equity increased to $762,587,000 in Q2 2025 from $708,306,000 in Q1 2025, showing a growth of 7.7%[28]. - As of June 30, 2025, total debt outstanding was $1.0 billion with a weighted average interest rate of 5.1% and an average remaining term of 3.7 years[5]. - Year-to-date through June 2025, the Company paid down $83.1 million of debt using proceeds from dispositions[5]. Operational Highlights - Same Store average occupancy increased to 82.8%, up 5.0% year-over-year[6]. - FFO per share increased by 35.7% quarter-over-quarter, while AFFO per share increased by 3.2% quarter-over-quarter[6]. - The Company completed dispositions totaling $21.4 million during the quarter, resulting in a net gain of $2.7 million[4]. - The Company repurchased $1.8 million of preferred stock at a weighted average yield of 12.8%, reducing leverage by $1.3 million[7]. - The company recorded a gain on the sale of real estate of $(2,652) thousand in Q2 2025, compared to a loss of $(24,989) thousand in Q1 2025[38]. - OMF Segment Cash NOI for Q2 2025 was $20,440 thousand, a decrease from $20,780 thousand in Q1 2025, while SHOP Segment Cash NOI increased by 6.6% to $10,275 thousand[40]. - Total properties in the OMF segment decreased from 136 to 133, while SHOP segment properties decreased from 45 to 42 as of June 30, 2025[41]. Future Outlook - The Company is preparing for an eventual public listing, supported by strong operational performance across its portfolio[2].
HEALTHCARE(HTIBP) - 2025 Q2 - Quarterly Results