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]. - FFO per share increased by 35.7% quarter-over-quarter, while AFFO per share increased by 3.2% quarter-over-quarter[6]. - The net loss attributable to common stockholders for Q2 2025 was $(24,189) thousand, compared to $(5,019) thousand in Q1 2025, indicating a significant increase in losses[35]. - Comprehensive loss attributable to common stockholders for Q2 2025 was $26,394, compared to $10,013 in Q1 2025[31]. - Operating loss before gain on sale of real estate investments was $8,170 for Q2 2025, an improvement from a loss of $11,965 in Q1 2025[30]. - Interest expense for Q2 2025 was $15,836, an increase from $14,529 in Q1 2025[30]. - Total stockholders' equity rose to $647,033 in Q2 2025, compared to $674,579 in Q1 2025, reflecting a decrease of 4.1%[30]. Revenue and Income - Same Store revenue increased by 11.8% year-over-year[6]. - Revenue from tenants for Q2 2025 was $85,332, a decrease of 1.3% from Q1 2025's $86,443[30]. - Net Operating Income (NOI) for Q2 2025 was $31,484, up from $28,903 in Q1 2025, indicating an increase of 5.5%[33]. - Cash net operating income (NOI) for the OMF segment was $20,440 thousand in Q2 2025, a 5.7% increase from Q1 2025 and a 4.4% increase from Q2 2024[40]. - SHOP segment revenue from tenants reached $56,081 thousand in Q2 2025, reflecting a 6.6% increase from Q1 2025 and a 17.3% increase from Q2 2024[40]. - 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, down 5.5% from $98,408 in Q1 2025[30]. - Total liabilities increased to $1,106,414 in Q2 2025 from $1,151,765 in Q1 2025, a decrease of 3.9%[30]. - The Company completed dispositions totaling $21.4 million during the quarter, resulting in a net gain of $2.7 million[4]. - Year-to-date through June 2025, the Company paid down $83.1 million of debt using proceeds from dispositions[5]. Capital Expenditures and Impairments - Recurring capital expenditures for Q2 2025 were $10,571 thousand, up from $6,658 thousand in Q1 2025[35]. - The company reported impairment charges of $15,212 thousand in Q2 2025, compared to $11,899 thousand in Q1 2025[38]. - Impairment charges increased to $15,212 in Q2 2025 from $11,899 in Q1 2025, reflecting a 27.0% rise[30]. Stock and Debt Management - The Company repurchased $1.8 million of preferred stock at a weighted average yield of 12.8%, reducing leverage by $1.3 million[7]. - 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]. - FFO per common share diluted increased to $0.19 in Q2 2025 from $0.14 in Q1 2025[35]. Operational Outlook - The Company is preparing for an eventual public listing, supported by strong operational performance and portfolio quality[2]. - Same Store average occupancy increased by 5.0% year-over-year to 82.8%[6]. - Total properties in the OMF segment decreased from 136 as of March 31, 2025, to 133 as of June 30, 2025, while SHOP segment properties decreased from 45 to 42 in the same period[41].
HEALTHCARE(HTIA) - 2025 Q2 - Quarterly Results