v3.25.4
Segment Information (Tables)
 12 Months Ended
Dec. 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):
Years ended December 31,
20252024
Resident revenue331,957 267,849 
Community operating expense:
Labor160,925 126,730 
Food15,477 13,807 
Utilities15,558 12,701 
Other community operating expense (1)
56,512 45,943 
Total community operating expense248,472 199,181 
Community net operating income$83,485 $68,668 
__________
(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 for 2025 and 2024 is as follows (in thousands):
Years ended December 31,
20252024
Segment resident revenue331,957 267,849 
All other revenue:
Management fees4,431 3,381 
Managed community reimbursement revenue44,753 33,096 
Total revenues$381,141 $304,326 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
A reconciliation of segment net operating income to the Company’s consolidated statements of operations for 2025 and 2024 is as follows (in thousands):
Years ended December 31,
20252024
Segment net operating income$83,485 $68,668 
Management fees4,431 3,381 
Other operating expenses (4,749)(2,834)
General and administrative expense(39,851)(34,123)
Transaction, transition and restructuring costs(16,231)(5,874)
Depreciation and amortization expense(56,768)(44,051)
Long-lived asset impairment(12,525)— 
Interest income2,103 1,681 
Interest expense(38,635)(36,990)
Gain on extinguishment of debt, net— 48,536 
Loss from equity method investment(1,370)(895)
Other expense, net7,948 (540)
Provision for income taxes(330)(239)
Net Loss$(72,492)$(3,280)