v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 13,988 $ 16,992
Restricted cash 18,429 22,095
Accounts receivable, net of allowance for credit losses of $8.6 million and $7.9 million, respectively 16,463 18,965
Prepaid expenses and other assets 3,829 4,634
Derivative assets 975 1,403
Total current assets 53,684 64,089
Property and equipment, net 735,471 739,884
Investment in unconsolidated entity 10,221 10,943
Intangible assets, net 22,123 24,526
Other assets, net 2,980 2,479
Total assets (a) [1] 824,479 841,921
Current liabilities    
Accounts payable 6,107 9,031
Accrued expenses 43,060 45,024
Current portion of debt, net of deferred loan costs 14,621 15,486
Deferred income 6,404 5,361
Federal and state income taxes payable 312 243
Other current liabilities 535 470
Total current liabilities 71,039 75,615
Long-term debt, net of deferred loan costs 636,273 635,904
Other long-term liabilities 1,201 793
Total liabilities (a) [1] 708,513 712,312
Commitments and contingencies (Note 12)
Redeemable preferred stock:    
Series A convertible preferred stock, $0.01 par value; 41 shares authorized, 41 shares issued and outstanding as of March 31, 2025 and December 31, 2024 51,249 51,249
Equity:    
Preferred stock 0 0
Common stock 189 190
Additional paid-in capital 491,334 491,819
Retained deficit (432,753) (420,224)
Total Sonida shareholders’ equity 58,770 71,785
Noncontrolling interest: 5,947 6,575
Total equity 64,717 78,360
Total liabilities, redeemable preferred stock and equity $ 824,479 $ 841,921
[1] The condensed consolidated balance sheets include the following amounts related to our consolidated Variable Interest Entity (VIE): $0.8 million and $5.0 million of Cash and cash equivalents; $1.7 million and $1.5 million of Restricted cash; $0.5 million and $0.3 million of Accounts receivable, net; and $27.9 million and $27.8 million of Property and equipment, net; $4.2 million and $4.7 million of Intangible assets, net; $2.6 million and $5.4 million of Accounts payable; $0.6 million and $0.9 million of Accrued expenses; $0.3 million and $0.2 million of Deferred income; $21.3 million and $21.3 million of Debt, net of deferred loan costs; and $0.2 million and $0.2 million of Other long-term liabilities as of March 31, 2025 and December 31, 2024, respectively.