v3.26.1
COMBINED AND CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Total revenues $ 200,345 $ 148,927
Costs and expenses:    
Operating 144,598 110,638
Depreciation and amortization 51,398 32,799
Interest expense 351 948
Transaction costs 18,510 0
Total costs and expenses 218,143 147,517
Other income (expense):    
Gain (loss) upon change of control, net 46,270 0
Gain (loss) on debt extinguishments (403) 0
Other income (expense), net 816 (2,380)
Total other income (expense), net 46,683 (2,380)
Income (loss) before income taxes and equity income (loss) from unconsolidated joint venture 28,885 (970)
Income tax benefit (expense) (1,122) (2,591)
Equity income (loss) from unconsolidated joint venture 111 1,451
Net income (loss) 27,874 (2,110)
Noncontrolling interests' share in earnings 3,458 0
Net (income) loss - pre-IPO (39,888) 0
Net income (loss) attributable to Class A-1 common stock $ (8,556) 0
Weighted average Class A-1 common stock outstanding:    
Basic (in shares) 187,223  
Diluted (in shares) 263,141  
Nonrelated Party    
Costs and expenses:    
General and administrative $ 2,958 3,132
Related Party Management Fee    
Costs and expenses:    
General and administrative 328 0
Resident Fees and Services    
Revenues:    
Total revenues 200,345 $ 148,927
Class A-1 Shares    
Other income (expense):    
Net income (loss) $ 27,874  
Earnings per share of Class A-1 common stock:    
Basic (in dollars per share) $ (0.05) $ 0
Diluted (in dollars per share) $ (0.05) $ 0
Weighted average Class A-1 common stock outstanding:    
Basic (in shares) 187,223 0
Diluted (in shares) 263,141 0