Sonida Senior Living, Inc. ( (SNDA) ) has released its Q4 earnings. Here is a breakdown of the information Sonida Senior Living, Inc. presented to its investors.
Sonida Senior Living, Inc. is a prominent player in the senior housing industry, operating and investing in independent living, assisted living, and memory care communities across the United States. The company is known for its resident-centric services and care, as well as engaging programming tailored for senior adults.
In its latest earnings report, Sonida Senior Living, Inc. announced significant financial improvements for the fourth quarter and full year of 2024. The company highlighted a transformative year marked by both organic and inorganic growth, including the acquisition of 20 high-quality communities and the establishment of a new secured corporate credit facility.
Key financial metrics for 2024 showed a notable increase in weighted average occupancy and resident revenue, with a 6.0% rise in same-store resident revenue and a 27.4% increase in Adjusted EBITDA compared to the previous year. The company also reported a substantial reduction in net loss from $21.1 million in 2023 to $2.1 million in 2024. Strategic acquisitions in Cincinnati and Atlanta further expanded Sonida’s portfolio, while a significant loan extension with Fannie Mae improved financial flexibility.
Despite the positive financial performance, the company faced increased operating expenses due to higher community labor costs and other variable expenses. However, these were offset by gains from debt extinguishment and increased revenues from newly acquired communities.
Looking ahead, Sonida Senior Living, Inc. is poised for accelerated growth in 2025, leveraging its strengthened balance sheet and strategic acquisitions. The company remains focused on enhancing its resident experience and expanding its footprint in the senior living sector, aiming for continued financial improvement and operational excellence.