v3.26.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents resident and other revenue, community operating expense and community net operating income by reportable segment (in thousands):
Three Months Ended March 31,
20262025
Resident revenue $108,427 $79,255 
Rental income1,695 — 
Total segment revenue110,122 79,255 
Community operating expense:
Labor52,436 38,299 
Food4,818 3,428 
Utilities5,184 4,001 
Other community operating expense (1)
18,925 13,386 
Total community operating expense81,363 59,114 
Total community net operating income$28,759 $20,141 
__________
(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 revenue to consolidated total revenues is as follows (in thousands):

Three Months Ended March 31,
20262025
Segment revenue $110,122 $79,255 
All other non-segment revenue:
Management fee income1,145 1,061 
Managed community reimbursement revenue11,365 11,607 
Total revenues$122,632 $91,923 
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,
20262025
Segment net operating income$28,759 $20,141 
Management fee income1,145 1,061 
Other operating expenses (1,313)(1,300)
General and administrative expense(10,463)(8,472)
Transaction, transition and restructuring costs(26,094)(610)
Depreciation and amortization expense(19,960)(13,686)
Third-party property management fees(1,048)— 
Interest income219 242 
Interest expense(12,833)(9,446)
Loss from equity method investment(208)(330)
Other income (expense), net554 (550)
Provision for income taxes(208)(75)
Net loss$(41,450)$(13,025)