XML 16 R4.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]        
Total revenues $ 70,207 $ 62,854 $ 137,645 $ 124,927
Expenses:        
Operating expense 45,981 44,662 92,298 88,470
General and administrative expense 9,178 6,574 16,389 13,637
Depreciation and amortization expense 10,067 9,927 20,002 19,808
Managed community reimbursement expense 6,379 5,363 12,486 10,325
Total expenses 71,605 66,526 141,175 132,240
Other income (expense):        
Interest income 387 188 526 382
Interest expense (8,964) (8,558) (17,555) (17,425)
Gain on extinguishment of debt, net 0 0 38,148 36,339
Loss from equity method investment (35) 0 (35) 0
Other income (expense), net 253 (117) (226) 72
Income (loss) before provision for income taxes (9,757) (12,159) 17,328 12,055
Provision for income taxes (59) (53) (125) (122)
Net income (loss) (9,816) (12,212) 17,203 11,933
Undeclared dividends on Series A convertible preferred stock (1,372) (1,230) (2,707) (2,428)
Undistributed net income allocated to participating securities 0 0 (1,425) (1,419)
Net income (loss) attributable to common stockholders $ (11,188) $ (13,442) $ 13,071 $ 8,086
Weighted average common shares outstanding — basic (in shares) 13,014 6,381 11,438 6,374
Weighted average common shares outstanding — diluted (in shares) 13,014 6,381 12,143 6,856
Basic net income (loss) per common share (in USD per share) $ (0.86) $ (2.11) $ 1.14 $ 1.27
Diluted net income (loss) per common share (in USD per share) $ (0.86) $ (2.11) $ 1.08 $ 1.18
Resident revenue        
Revenue from Contract with Customer [Abstract]        
Total revenues $ 63,108 $ 56,960 $ 123,845 $ 113,566
Management fees        
Revenue from Contract with Customer [Abstract]        
Total revenues 720 531 1,314 1,036
Managed community reimbursement revenue        
Revenue from Contract with Customer [Abstract]        
Total revenues $ 6,379 $ 5,363 $ 12,486 $ 10,325