Revenue Recognition (Tables)
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3 Months Ended |
12 Months Ended |
Mar. 31, 2026 |
Dec. 31, 2025 |
| Revenue from Contract with Customer [Abstract] |
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| Schedule of disaggregation of revenue |
The following table disaggregates the Company’s resident fees and services according to whether such revenue relates to amortization of non-refundable entrance fees, room and rents, or ancillary and other services (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | 2026 | | 2025 | | | | Amount | | Percent of Total | | Amount | | Percent of Total | | Room and rents | | $ | 164,366 | | 82.0 | % | $ | 120,410 | | 80.9 | % | Non-refundable entrance fee amortization | | | 27,203 | | 13.6 | % | | 24,006 | | 16.1 | % | Ancillary and other services | | | 8,776 | | 4.4 | % | | 4,511 | | 3.0 | % | Resident fees and services | | $ | 200,345 | | 100.0 | % | $ | 148,927 | | 100.0 | % |
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The following tables disaggregate the Company’s resident fees and services according to whether such revenue relates to amortization of non-refundable entrance fees, room and board, or ancillary and other services (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | | 2025 | | 2024 | | | | | | | Percent of | | | | | Percent of | | | | Amount | | Total | | Amount | | Total | | Room and board | | $ | 488,366 | | 80.8 | % | $ | 463,938 | | 81.6 | % | Non-refundable entrance fee amortization | | | 98,912 | | 16.4 | % | | 88,995 | | 15.7 | % | Ancillary and other services | | | 16,711 | | 2.8 | % | | 15,542 | | 2.7 | % | Total resident fees and services | | $ | 603,989 | | 100.0 | % | $ | 568,475 | | 100.0 | % |
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| Schedule of accounts receivable, net |
The opening and closing balances of accounts receivable, net were as follows (in thousands): | | | | | | | | Closing balance - December 31, 2025 | | $ | 19,431 | Closing balance - March 31, 2026 | | | 24,407 | Change | | $ | 4,976 |
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The opening and closing balances of accounts receivable, net were as follows (in thousands): | | | | | | | | Opening balance – December 31, 2023 | | $ | 19,970 | Closing balance – December 31, 2024 | | | 19,697 | Change | | $ | (273) | Opening balance – December 31, 2024 | | $ | 19,697 | Closing balance – December 31, 2025 | | | 19,431 | Change | | $ | (266) |
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| Schedule of adjustments to allowances for credit losses |
The following is a summary of the Company’s adjustments to allowances for credit losses (in thousands): | | | | | | | | Opening balance - December 31, 2024 | | $ | 2,243 | Additional allowance | | | 2,269 | Write-offs, recoveries, and other adjustments | | | (2,494) | Closing balance - December 31, 2025 | | $ | 2,018 | Opening balance - December 31, 2025 | | $ | 2,018 | Additional allowance | | | 1,073 | Write-offs, recoveries, and other adjustments | | | 389 | Closing balance - March 31, 2026 | | $ | 3,480 |
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The following is a summary of the Company’s adjustments to allowances for credit losses (in thousands): | | | | | | | | Opening balance – December 31, 2023 | | $ | 2,282 | Additional allowance | | | 2,494 | Write-offs, recoveries, and other adjustments | | | (2,533) | Closing balance – December 31, 2024 | | $ | 2,243 | Opening balance – December 31, 2024 | | $ | 2,243 | Additional allowance | | | 2,269 | Write-offs, recoveries, and other adjustments | | | (2,494) | Closing balance – December 31, 2025 | | $ | 2,018 |
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