v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 11,008 $ 16,992
Restricted cash 19,264 22,095
Accounts receivable, net of allowance for credit losses of $2.6 million and $7.9 million, respectively 18,611 18,965
Prepaid expenses and other assets 6,373 4,634
Assets held for sale 9,453 0
Derivative assets 8 1,403
Deferred issuance costs 13,163 0
Total current assets 77,880 64,089
Property and equipment, net 736,188 739,884
Investment in unconsolidated entity 8,789 10,943
Intangible assets, net 19,743 24,526
Other assets, net 2,245 2,479
Total assets [1] 844,845 841,921
Current liabilities:    
Accounts payable 4,705 9,031
Accrued expenses 71,663 45,024
Current portion of debt, net of deferred loan costs 7,291 15,486
Deferred income 7,275 5,361
Federal and state income taxes payable 292 243
Liabilities held for sale 13,529 0
Other current liabilities 379 470
Total current liabilities 105,134 75,615
Long-term debt, net of deferred loan costs 682,450 635,904
Other long-term liabilities 1,006 793
Total liabilities [1] 788,590 712,312
Commitments and contingencies (Note 13)
Redeemable preferred stock:    
Series A convertible preferred stock, $0.01 par value; 41 shares authorized, 41 shares issued and outstanding as of December 31, 2025 and 2024 51,249 51,249
Sonida’s shareholders’ equity (deficit):    
Preferred stock, value 0 0
Common stock, value 188 190
Additional paid-in capital 490,804 491,819
Retained deficit (491,003) (420,224)
Total Sonida shareholders’ equity (deficit) (11) 71,785
Noncontrolling interest: 5,017 6,575
Total equity 5,006 78,360
Total liabilities, redeemable preferred stock and equity $ 844,845 $ 841,921
[1] The consolidated balance sheets include the following amounts related to our consolidated Variable Interest Entity (VIE): $1.8 million and $5.0 million of Cash and cash equivalents; $2.0 million and $1.5 million of Restricted cash; $0.4 million and $0.3 million of Accounts receivable, net; $28.8 million and $27.8 million of Property and equipment, net; $2.8 million and $4.7 million of Intangible assets, net; $1.0 million and $5.4 million of Accounts payable; $0.7 million and $0.9 million of Accrued expenses; $0.3 million and $0.2 million of Deferred income; $21.5 million and $21.3 million of Debt, net of deferred loan costs; and $0.1 million and $0.2 million of Other long-term liabilities, in each case, as of December 31, 2025 and 2024, respectively.