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Net Income (Loss) Per Share
 9 Months Ended
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,
2025202420252024
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)$(671)
Weighted average shares outstanding — diluted18,103 15,456 18,081 12,787 
Diluted net loss per share$(1.56)$(0.98)$(2.50)$(0.05)

Three Months Ended September 30,Nine Months Ended
September 30,
(shares in thousands)2025202420252024
Weighted average shares outstanding - diluted reconciliation:
Weighted average shares outstanding — basic
18,103 15,456 18,081 12,787 
Weighted average shares outstanding — diluted18,103 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)2025202420252024
Warrants1,0311,0311,0311,031
Series A Preferred Stock (if converted)1,2811,2811,2811,259
Restricted stock awards7121,000793898
Restricted stock units23351184
Stock options10101010
Total3,2673,3273,2333,202