v3.25.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents resident revenue, community operating expense and community net operating income by reportable segment (in thousands):
Three months ended March 31,
20252024
Resident revenue$79,255 $60,737 
Community operating expense:
Labor38,299 29,117 
Food3,428 3,099 
Utilities4,001 3,310 
Other community operating expense (1)
13,386 10,296 
Total community operating expense59,114 45,822 
Community net operating income$20,141 $14,915 
__________
(1) Includes community maintenance, software expense, supplies, insurance, real estate taxes, marketing expense, and other overhead expense.
Reconciliation of Revenue from Segments to Consolidated
A reconciliation of segment revenues to consolidated total revenues is as follows (in thousands):

Three months ended March 31,
20252024
Segment resident revenue$79,255 $60,737 
All other non-segment revenue:
Management fees1,061 594 
Managed community reimbursement revenue11,607 6,107 
Total revenues$91,923 $67,438 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
A reconciliation of segment net operating income to the Company’s condensed consolidated statements of operations is as follows (in thousands):
Three months ended March 31,
20252024
Segment net operating income$20,141 $14,915 
Management fees1,061 594 
Other operating expenses (1,300)(495)
General and administrative expense(8,472)(6,812)
Transaction, transition and restructuring costs(610)(399)
Depreciation and amortization expense(13,686)(9,935)
Interest income242 139 
Interest expense(9,446)(8,591)
Gain on extinguishment of debt, net— 38,148 
Loss from equity method investment(330)— 
Other expense, net(550)(479)
Provision for income taxes(75)(66)
Net Income (Loss)$(13,025)$27,019