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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic net income (loss) per share (“EPS”) is calculated by dividing net earnings (loss) by the weighted average number of common shares outstanding during the period. Potentially dilutive securities include warrants, Series A Preferred Stock, shares of restricted stock, restricted stock units, and former employee stock options. Diluted EPS reflects the assumed exercise or conversion of all dilutive securities. The Series A Preferred Stock is considered participating securities for the purposes of the Company's EPS calculation. The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except for per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Basic net income (loss) per common share calculation: |  |  |  |  |  |  |
Net income (loss) attributable to Sonida shareholders | $ | (26,911) |  |  | $ | (13,758) |  |  | $ | (41,003) |  |  | $ | 3,445 |
Less: Dividends on Series A Preferred Stock | (1,410) |  |  | (1,409) |  |  | (4,228) |  |  | (1,409) |
Less: Undeclared dividends on Series A Preferred Stock | — |  |  | — |  |  | — |  |  | (2,707) |
Net loss attributable to common shareholders | $ | (28,321) |  |  | $ | (15,167) |  |  | $ | (45,231) |  |  | $ | (671) |
Weighted average shares outstanding — basic | 18,103 |  |  | 15,456 |  |  | 18,081 |  |  | 12,787 |
Basic net loss per share | $ | (1.56) |  |  | $ | (0.98) |  |  | $ | (2.50) |  |  | $ | (0.05) |
Diluted net income (loss) per common share calculation: |  |  |  |  |  |  |
Net loss attributable to common shareholders | $ | (28,321) |  |  | $ | (15,167) |  |  | $ | (45,231) |  |  | $ | (671) |
Weighted average shares outstanding — diluted | 18,103 |  |  | 15,456 |  |  | 18,081 |  |  | 12,787 |
Diluted net loss per share | $ | (1.56) |  |  | $ | (0.98) |  |  | $ | (2.50) |  |  | $ | (0.05) |
| Three Months Ended September 30, |  | Nine Months Ended September 30,
(shares in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024
Weighted average shares outstanding - diluted reconciliation: |  |  |  |  |  |  |
Weighted average shares outstanding — basic | 18,103 |  |  | 15,456 |  |  | 18,081 |  |  | 12,787 |
Weighted average shares outstanding — diluted | 18,103 |  |  | 15,456 |  |  | 18,081 |  |  | 12,787 |
The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(shares in thousands) |  | 2025 |  | 2024 |  | 2025 |  | 2024
Warrants |  | 1,031 |  | 1,031 |  | 1,031 |  | 1,031
Series A Preferred Stock (if converted) |  | 1,281 |  | 1,281 |  | 1,281 |  | 1,259
Restricted stock awards |  | 712 |  | 1,000 |  | 793 |  | 898
Restricted stock units |  | 233 |  | 5 |  | 118 |  | 4
Stock options |  | 10 |  | 10 |  | 10 |  | 10
Total |  | 3,267 |  | 3,327 |  | 3,233 |  | 3,202

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