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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 16,961 $ 16,992
Restricted cash 18,959 22,095
Accounts receivable, net of allowance for credit losses of $9.1 million and $7.9 million, respectively 19,747 18,965
Prepaid expenses and other assets 7,460 4,634
Assets held for sale 9,374 0
Derivative assets 42 1,403
Total current assets 72,543 64,089
Property and equipment, net 747,877 739,884
Investment in unconsolidated entity 9,269 10,943
Intangible assets, net 22,449 24,526
Other assets, net 2,683 2,479
Total assets [1] 854,821 841,921
Current liabilities    
Accounts payable 6,129 9,031
Accrued expenses 55,258 45,024
Current portion of debt, net of deferred loan costs 21,009 15,486
Deferred income 7,124 5,361
Federal and state income taxes payable 216 243
Liabilities held for sale 13,584 0
Other current liabilities 527 470
Total current liabilities 103,847 75,615
Long-term debt, net of deferred loan costs 663,408 635,904
Other long-term liabilities 1,158 793
Total liabilities [1] 768,413 712,312
Commitments and contingencies (Note 12)
Redeemable preferred stock:    
Series A convertible preferred stock, $0.01 par value; 41 shares authorized, 41 shares issued and outstanding as of September 30, 2025 and December 31, 2024 51,249 51,249
Equity:    
Preferred stock 0 0
Common stock 188 190
Additional paid-in capital 490,811 491,819
Retained deficit (461,227) (420,224)
Total Sonida shareholders’ equity 29,772 71,785
Noncontrolling interest: 5,387 6,575
Total equity 35,159 78,360
Total liabilities, redeemable preferred stock and equity $ 854,821 $ 841,921
[1] The condensed consolidated balance sheets include the following amounts related to our consolidated Variable Interest Entity (VIE): $2.7 million and $5.0 million of Cash and cash equivalents; $2.1 million and $1.5 million of Restricted cash; $0.2 million and $0.3 million of Accounts receivable, net; and $28.5 million and $27.8 million of Property and equipment, net; $3.3 million and $4.7 million of Intangible assets, net; $1.2 million and $5.4 million of Accounts payable; $0.9 million and $0.9 million of Accrued expenses; $0.3 million and $0.2 million of Deferred income; $21.4 million and $21.3 million of Debt, net of deferred loan costs; and $0.1 million and $0.2 million of Other long-term liabilities, in each case, as of September 30, 2025 and December 31, 2024, respectively.