BUSINESS SEGMENTS (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Segment Reporting [Abstract] |
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| Schedule of financial data combined by business segment |
The following tables present certain financial information regarding the Company’s reportable segments, provided that general and administrative expenses are not allocated to the reportable segments:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Home Health and Hospice Services | | Senior Living Services | | All Other | | Total | | Three Months Ended September 30, 2026 | | | | | | | | | | Segment Revenue | | $ | 239,813 | | | $ | 60,595 | | | $ | 1,843 | | | $ | 302,251 | | | Segment Cost of Services | | 198,448 | | | 44,411 | | | | | | | Segment Adjusted EBITDAR from Operations | | $ | 41,365 | | | $ | 16,184 | | | | | $ | 57,549 | | | Three Months Ended September 30, 2025 | | | | | | | | | | Segment Revenue | | $ | 173,545 | | | $ | 53,880 | | | $ | 1,614 | | | $ | 229,039 | | | Segment Cost of Services | | 144,475 | | | 38,572 | | | | | | | Segment Adjusted EBITDAR from Operations | | $ | 29,070 | | | $ | 15,308 | | | | | $ | 44,378 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Home Health and Hospice Services | | Senior Living Services | | All Other | | Total | | Nine Months Ended September 30, 2026 | | | | | | | | | | Revenue | | $ | 705,998 | | | $ | 173,746 | | | $ | 5,855 | | | $ | 885,599 | | | Segment Cost of Services | | 586,881 | | | 125,336 | | | | | | | Segment Adjusted EBITDAR from Operations | | $ | 119,117 | | | $ | 48,410 | | | | | $ | 167,527 | | | Nine Months Ended September 30, 2025 | | | | | | | | | | Revenue | | $ | 498,236 | | | $ | 155,276 | | | $ | 4,870 | | | $ | 658,382 | | | Segment Cost of Services | | 414,209 | | | 110,731 | | | | | | | Segment Adjusted EBITDAR from Operations | | $ | 84,027 | | | $ | 44,545 | | | | | $ | 128,572 | |
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| Schedule of reconciliation of total combined adjusted EBITDAR from operations for our reportable segments to combined income from operations |
The following table provides a reconciliation of Segment Adjusted EBITDAR from Operations to Condensed Consolidated Income from Operations:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Segment Adjusted EBITDAR from Operations | $ | 57,549 | | | $ | 44,378 | | | $ | 167,527 | | | $ | 128,572 | | | Less: Unallocated corporate expenses | 19,101 | | | 15,043 | | | 56,711 | | | 42,972 | | | Depreciation and amortization | 3,685 | | | 2,063 | | | 9,413 | | | 6,179 | | | Rent—cost of services | 13,796 | | | 12,063 | | | 40,322 | | | 35,703 | | | Income from equity method investment | 1,379 | | | — | | | 1,749 | | | — | | | Other (expense) income | (78) | | | 182 | | | 402 | | | 368 | | | Adjustments to Segment EBITDAR from Operations: | | | | | | | | Less: Start-up operations(a) | 27 | | | (7) | | | 380 | | | (87) | | Share-based compensation expense and related taxes(b) | 3,378 | | | 2,480 | | | 9,024 | | | 6,859 | | Acquisition related costs(c) | 128 | | | 3,047 | | | 832 | | | 5,485 | | Activities associated with transitioning operations(d) | (491) | | | 40 | | | (491) | | | (976) | | Transition services costs(e) | 1,550 | | | — | | | 3,214 | | | — | | Other unusual, non-recurring, or redundant charges(f) | — | | | 34 | | | — | | | 101 | | | Add: Net income attributable to noncontrolling interest | 1,438 | | | 805 | | | 5,028 | | | 2,448 | | | Condensed Consolidated Income from Operations | $ | 16,512 | | | $ | 10,238 | | | $ | 50,999 | | | $ | 34,416 | |
| | | | | | | | | | (a) | | Represents results related to start-up operations. This amount excludes rent and depreciation and amortization expense related to such operations. | | (b) | | Share-based compensation expense and related payroll taxes incurred. Share-based compensation expense and related payroll taxes are included in cost of services and general and administrative expense. | | (c) | | Non-capitalizable costs associated with acquisitions. | | (d) | | During 2025, an affiliate of the Company held its memory care units in transition and converted the facility into an assisted living community. In 2025 and 2026, the Company received insurance proceeds related to the property which were recorded in Gain on disposition of property and equipment, net on the Consolidated Statements of Income. This affiliate’s operations in 2026 excluding insurance gains are included in start-up operations. | | (e) | | Costs identified as redundant or non-recurring incurred by the Company as a result of the transition services agreement between the Company and UnitedHealth Group Incorporated (“UnitedHealth”) entered into as part of the acquisition agreement consummated on October 1, 2025. All amounts are included in Cost of services. Fees incurred under the transition services agreement were $1,550 and $6,856 for the three and nine months ended September 30, 2026. | | (f) | | Represents other unusual, non-recurring, or redundant charges for legal services, implementation costs, integration costs, and consulting fees in general and administrative and cost of services expenses. |
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| Schedule of segment depreciation expense |
| | | | | | | | | | | | | | | | Adjusted segment depreciation expense | | Home Health and Hospice Services | | Senior Living Services | | Three Months Ended September 30, 2026 | | $ | 650 | | | $ | 1,565 | | | Three Months Ended September 30, 2025 | | $ | 205 | | | $ | 1,213 | |
| | | | | | | | | | | | | | | | Adjusted segment depreciation expense | | Home Health and Hospice Services | | Senior Living Services | | Nine Months Ended September 30, 2026 | | $ | 1,655 | | | $ | 4,199 | | | Nine Months Ended September 30, 2025 | | $ | 644 | | | $ | 3,493 | |
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