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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents resident revenue, community operating expense and community net operating income by reportable segment (in thousands):
Three Months Ended September 30,
Nine Months Ended September 30,
2025202420252024
Resident revenue$84,597 $66,951 $245,697 $190,796 
Community operating expense:
Labor41,407 31,727 119,037 89,757 
Food4,046 3,442 11,313 9,841 
Utilities4,119 3,322 11,645 9,255 
Other community operating expense (1)
14,261 11,371 41,561 32,323 
Total community operating expense63,833 49,862 183,556 141,176 
Community net operating income$20,764 $17,089 $62,141 $49,620 
__________
(1) Includes community maintenance, software expense, supplies, insurance, real estate taxes, marketing expense, and other overhead expense.
Reconciliation of Revenue from Segments to Consolidated
A reconciliation of segment revenues to consolidated total revenues is as follows (in thousands):

Three Months Ended September 30,
Nine Months Ended September 30,
2025202420252024
Segment resident revenue$84,597 $66,951 $245,697 $190,796 
All other non-segment revenue:
Management fees1,146 1,151 3,341 2,465 
Managed community reimbursement revenue12,295 6,648 34,448 19,134 
Total revenues$98,038 $74,750 $283,486 $212,395 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated
A reconciliation of segment net operating income to the Company’s condensed consolidated statements of operations is as follows (in thousands):
Three Months Ended September 30,
Nine Months Ended September 30,
2025202420252024
Segment net operating income$20,764 $17,089 $62,141 $49,620 
Management fees1,146 1,151 3,341 2,465 
Other operating expenses (1,315)(630)(3,426)(1,614)
General and administrative expense(10,529)(9,695)(28,730)(25,220)
Transaction, transition and restructuring costs(6,174)(2,098)(7,245)(2,962)
Depreciation and amortization expense(14,627)(10,729)(41,959)(30,731)
Impairment of assets held for sale(4,733)— (4,733)— 
Interest income394 853 1,622 1,379 
Interest expense(9,910)(9,839)(28,627)(27,394)
Gain on extinguishment of debt, net— — — 38,148 
Loss from equity method investment(374)(146)(1,087)(181)
Other income (expense), net(1,902)(153)6,611 (379)
Provision for income taxes(88)(68)(254)(193)
Net income (loss)$(27,348)$(14,265)$(42,346)$2,938