Sonida Senior Living, Inc. Announces Fourth Quarter and Full Year 2025 Results

Core Insights - Sonida Senior Living, Inc. reported significant growth in its acquisition portfolio and performance across same-store communities, achieving approximately 22% total portfolio NOI expansion in 2025 [1][2] - The completion of the acquisition of CNL Healthcare Properties positions Sonida as the eighth-largest owner of senior housing assets in the U.S., with a portfolio of 153 high-quality communities [1][2] - The company anticipates continued organic and inorganic growth in 2026 and beyond, supported by a strong operating model and favorable senior housing fundamentals [1] Fourth Quarter and Full Year Highlights - For Q4 2025, Community Net Operating Income (NOI) Margin was 27.6%, up from 27.3% in Q4 2024, with Community NOI increasing by 6.5% year-over-year to $16.3 million [1][2] - Revenue Per Occupied Unit (RevPOR) increased by 4.6% to $4,363, while Revenue Per Available Unit (RevPAR) rose by 5.7% to $3,834 [1][2] - Year-to-date 2025 results showed a Community NOI Margin of 27.9%, with Community NOI increasing by 8.0% to $65.2 million [1][2] Recent Developments - The acquisition of CNL Healthcare Properties was completed on March 11, 2026, valued at approximately $1.8 billion, with 68% of the consideration in Sonida Common Stock and 32% in cash [1][2] - The company amended its revolving credit facility to increase available commitments to $405 million and secured $525 million in new term loans to fund the CHP Merger [1][2] - A bridge loan agreement for $270 million was entered into to finance part of the cash consideration for the CHP Merger [2] Financial Performance - Resident revenue for Q4 2025 was $86.3 million, an increase of 11.9% from $77.1 million in Q4 2024, driven by increased occupancy and average rent rates [2][3] - Operating expenses for Q4 2025 rose to $66.2 million from $59.2 million in Q4 2024, primarily due to costs associated with additional communities acquired [2][3] - The company reported a net loss of $30.1 million for Q4 2025, compared to a net loss of $6.2 million in Q4 2024 [2][3] Year-End Financial Overview - For the year ended December 31, 2025, resident revenue was $332.0 million, a 24.0% increase from $267.8 million in 2024 [3] - Total operating expenses for 2025 were $253.2 million, up from $202.0 million in 2024, largely due to increased labor costs and expenses from newly acquired communities [3] - The company recorded a net loss of $72.5 million for 2025, compared to a net loss of $3.3 million for 2024 [3] Liquidity and Capital Resources - As of December 31, 2025, the company had an unrestricted cash balance of $11.0 million and outstanding borrowings of $95.1 million under its revolving credit facility [3] - Future liquidity will depend on operating performance and access to capital through various financing options [3]