v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 84,284 $ 11,008
Restricted cash 15,940 19,264
Accounts receivable, net of allowance for credit losses of $5.1 million and $2.6 million, respectively 26,002 18,611
Prepaid expenses and other assets 10,824 6,373
Assets held for sale 9,459 9,453
Derivative assets 182 8
Deferred issuance costs 0 13,163
Total current assets 146,691 77,880
Property and equipment, net 2,201,292 736,188
Investment in unconsolidated entity 8,581 8,789
Intangible assets, net 197,555 19,743
Goodwill 63,950 0
Other assets, net 9,152 2,245
Total assets [1] 2,627,221 844,845
Current liabilities    
Accounts payable 18,177 4,705
Accrued expenses 66,423 71,663
Current portion of debt, net of deferred loan costs 218,673 7,291
Deferred income 13,104 7,275
Federal and state income taxes payable 1,232 292
Liabilities held for sale 13,619 13,529
Other current liabilities 2,435 379
Total current liabilities 333,663 105,134
Long-term debt, net of deferred loan costs 1,403,684 682,450
Other long-term liabilities 856 1,006
Total liabilities [1] 1,738,203 788,590
Commitments and contingencies (Note 13)
Redeemable preferred stock:    
Series A convertible preferred stock, $0.01 par value; none authorized, none issued and outstanding as of March 31, 2026 and 41 shares authorized, 41 shares issued and outstanding as of December 31, 2025 0 51,249
Equity:    
Preferred stock 0 0
Common stock 474 188
Additional paid-in capital 1,416,615 490,804
Retained deficit (532,231) (491,003)
Total Sonida shareholders’ equity (deficit) 884,858 (11)
Noncontrolling interest: 4,160 5,017
Total equity 889,018 5,006
Total liabilities, redeemable preferred stock and equity $ 2,627,221 $ 844,845
[1] The condensed consolidated balance sheets include the following amounts related to our consolidated Variable Interest Entity (VIE): $1.4 million and $1.8 million of Cash and cash equivalents; $2.1 million and $2.0 million of Restricted cash; $0.3 million and $0.4 million of Accounts receivable, net; and $29.3 million and $28.8 million of Property and equipment, net; $2.3 million and $2.8 million of Intangible assets, net; $1.1 million and $1.0 million of Accounts payable; $0.7 million and $0.7 million of Accrued expenses; $0.3 million and $0.3 million of Deferred income; $19.9 million and $21.5 million of Debt, net of deferred loan costs; and $0.1 million and $0.1 million of Other long-term liabilities, in each case, as of March 31, 2026 and December 31, 2025, respectively.