v3.26.1
Segment Results
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segment Results

NOTE 13. SEGMENT RESULTS

The chief operating decision maker (“CODM”) is the President and Chief Executive Officer. The Company represents three reportable segments, based on how its CODM evaluates the business and allocates resources. The CODM assesses performance for the Company and decides how to allocate resources based on each segments Income (Loss) From Operations ("Operating Income"). The CODM uses Operating Income to evaluate the performance of each segment in deciding whether to reinvest

profits into the segment. The CODM evaluates performance based on Operating Income, as noted in the table below. The Company reports segment information based on the "significant expense principle” defined in ASC 280, Segment Reporting along with other segment items, which is the difference between segment revenue and less segment expenses disclosed under the significant expense principle for each reported measure of segment profit or loss.

The Company has three primary reporting segments: (i) Real Estate Services, which consists of the leasing and subleasing of long-term care and senior living facilities to third-party tenants, (ii) Healthcare Services, which consists of the operation of the Autumn Breeze, Georgetown, Glenvue, Meadowood, Sumter, Southland, and Mountain Trace facilities and (iii) Pharmacy Service Segment, which consists of four operational areas, retail pharmacy products and services, institutional pharmacy services, which consists of specialty and non-specialty pharmaceutical and products to institutional clients or to patients in institutional settings, non-institutional pharmacy services consisting of the provision specialty and non-specialty pharmacy and biological products to clients or patients in non-institutional settings including private residential homes and durable medical equipment, consisting primarily of the sale and rental products for institutional clients or to patients and institutional settings and patient-administered home care.

The table below presents the results of operations for our reporting segments for the periods presented.

 

Three Months Ended June 30,

 

 

Three Months Ended June 30,

 

 

2026

 

2026

 

2026

 

2026

 

 

2025

 

2025

 

2025

 

2025

 

(Amounts in 000’s)

Real Estate Services

 

Healthcare Services

 

Pharmacy Services

 

Total

 

 

Real Estate Services

 

Healthcare Services

 

Pharmacy Services

 

Total

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patient care revenues

$

—

 

$

14,001

 

$

—

 

$

14,001

 

 

$

—

 

$

8,774

 

$

—

 

$

8,774

 

Rental revenues

 

786

 

 

—

 

 

15

 

 

801

 

 

 

1,283

 

 

—

 

 

—

 

 

1,283

 

Pharmacy revenues

 

—

 

 

—

 

 

9,640

 

 

9,640

 

 

 

—

 

 

—

 

 

—

 

 

—

 

Total revenues

 

786

 

 

14,001

 

 

9,655

 

 

24,442

 

 

 

1,283

 

 

8,774

 

 

—

 

 

10,057

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

—

 

 

—

 

 

6,089

 

 

6,089

 

 

 

—

 

 

—

 

 

—

 

 

—

 

Patient care expense

 

—

 

 

10,654

 

 

—

 

 

10,654

 

 

 

—

 

 

7,184

 

 

—

 

 

7,184

 

Facility rent expense

 

149

 

 

—

 

 

98

 

 

247

 

 

 

149

 

 

—

 

 

—

 

 

149

 

Depreciation and amortization

 

318

 

 

106

 

 

333

 

 

757

 

 

 

322

 

 

81

 

 

—

 

 

403

 

General and administrative expense

 

1,107

 

 

2,312

 

 

3,277

 

 

6,696

 

 

 

729

 

 

1,700

 

 

—

 

 

2,429

 

Credit loss expense

 

(8

)

 

223

 

 

—

 

 

215

 

 

 

200

 

 

200

 

 

—

 

 

400

 

Total expenses

 

1,566

 

 

13,295

 

 

9,797

 

 

24,658

 

 

 

1,400

 

 

9,165

 

 

—

 

 

10,565

 

Income (loss) from operations

$

(780

)

$

706

 

$

(142

)

$

(216

)

 

$

(117

)

$

(391

)

$

—

 

$

(508

)

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2026

 

2026

 

2026

 

2026

 

 

2025

 

2025

 

2025

 

2025

 

(Amounts in 000’s)

Real Estate Services

 

Healthcare Services

 

Pharmacy Services

 

Total

 

 

Real Estate Services

 

Healthcare Services

 

Pharmacy Services

 

Total

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Patient care revenues

$

—

 

$

26,716

 

$

—

 

$

26,716

 

 

$

—

 

$

14,416

 

$

—

 

$

14,416

 

Rental revenues

 

1,632

 

 

—

 

 

29

 

 

1,661

 

 

 

2,831

 

 

—

 

 

—

 

 

2,831

 

Pharmacy revenues

 

—

 

 

—

 

 

17,227

 

 

17,227

 

 

 

—

 

 

—

 

 

—

 

 

—

 

Total revenues

 

1,632

 

 

26,716

 

 

17,256

 

 

45,604

 

 

 

2,831

 

 

14,416

 

 

—

 

 

17,247

 

Expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold

 

—

 

 

—

 

 

10,581

 

 

10,581

 

 

 

—

 

 

—

 

 

—

 

 

—

 

Patient care expense

 

—

 

 

20,368

 

 

—

 

 

20,368

 

 

 

—

 

 

11,585

 

 

—

 

 

11,585

 

Facility rent expense

 

297

 

 

—

 

 

184

 

 

481

 

 

 

298

 

 

58

 

 

—

 

 

356

 

Depreciation and amortization

 

637

 

 

204

 

 

638

 

 

1,479

 

 

 

646

 

 

159

 

 

—

 

 

805

 

General and administrative expense

 

2,716

 

 

4,276

 

 

6,224

 

 

13,216

 

 

 

1,750

 

 

2,909

 

 

—

 

 

4,659

 

Loss on lease termination

 

—

 

 

—

 

 

—

 

 

—

 

 

 

303

 

 

—

 

 

—

 

 

303

 

Credit loss expense

 

13

 

 

384

 

 

—

 

 

397

 

 

 

200

 

 

270

 

 

—

 

 

470

 

Gain on operations transfer

 

—

 

 

—

 

 

—

 

 

—

 

 

 

—

 

 

(106

)

 

—

 

 

(106

)

Total expenses

 

3,663

 

 

25,232

 

 

17,627

 

 

46,522

 

 

 

3,197

 

 

14,875

 

 

—

 

 

18,072

 

Income (loss) from operations

$

(2,031

)

$

1,484

 

$

(371

)

$

(918

)

 

$

(366

)

$

(459

)

$

—

 

$

(825

)

The CODM does not regularly review total assets for our reportable segments as total assets are not used to assess performance or allocate resources.