SNDA earnings analysis
What we found in SNDA's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Sonida reported Q2 revenue of $207.648 million, substantially above both $123 million in Q1 2026 and $94 million in Q2 2025, supported by 16.9% same-store NOI growth and 30.0% Adjusted EBITDA growth. However, diluted EPS of $(0.52) missed the $(0.40) estimate and remained materially negative. The filing provides no numeric guidance, identifies ongoing CHP integration of internal-control systems, and reports no material changes to the prior Form 10-K risk factors.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Accelerated Sharply
- Q2 revenue was $207.648 million, up from $123 million in Q1 2026 and $94 million in Q2 2025, increases of approximately 68.8% sequentially and 120.9% year over year.
- Same-Store NOI Improved
- Same-store NOI increased 16.9%, indicating continued improvement in the operating performance of comparable communities.
- Adjusted EBITDA Grew 30.0%
- Adjusted EBITDA increased 30.0% year over year, outpacing the reported 16.9% same-store NOI growth.
- Disclosure Controls Effective
- The company reported effective disclosure controls as of June 30, 2026, with management concluding that controls and procedures were effective.
- No Share Repurchases
- No shares were repurchased during April, May, or June 2026, leaving $6,570,222 available under the repurchase program at each month-end.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- EPS Remains Deeply Negative
- Diluted EPS was $(0.52), versus $(0.16) in Q2 2025 and $(2.39) in Q1 2026; the sequential improvement remained below the estimated $(0.40), a $0.12 per-share miss.
- CHP Integration Control Risk
- The filing states that the company is integrating CHP operations, processes, and systems and anticipates changes to the combined internal-control environment that may affect internal controls over financial reporting.
- Liquidity Allocation Risk
- Although no shares were repurchased in the quarter, the company retained $6,570,222 of unused authorization, which could represent a future use of liquidity while the company continues to report negative EPS of $(0.52).
- Risk Factors Unchanged
- The company reported no material changes to the risk factors in its December 31, 2025 Form 10-K, limiting evidence of risk mitigation despite the $(0.52) quarterly diluted EPS loss.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.52
What they said about what is next.
The filing and accompanying earnings disclosure provide no numeric forward revenue or EPS guidance; no quantitative outlook was provided.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 11, 2026
- Sonida Senior Living reported a robust revenue growth in Q1 2026 of $122.6 million, surpassing estimates of $115.8 million, but reported a diluted EPS of -$2.39, missing the expected -$1.56. The significant revenue…
- 10-K · March 12, 2026
- Sonida completed the strategic acquisition of CNL Healthcare Properties (CHP) on March 11, 2026, which (post-closing) more than doubles owned units to approximately 14,700 and expands national scale. For the 2025 year…
- 10-Q · May 12, 2025
- Sonida reported total revenues of $91,923,000 in Q1 2025 (up from $67,438,000 in Q1 2024), driven by higher resident revenue and reimbursement activity, but delivered a net loss attributable to Sonida shareholders of…
- 10-Q · November 13, 2024
- Sonida reported Q3 2024 revenue of $74.75 million (up from $64.675 million in Q3 2023) and a diluted net loss per common share of $(0.98). Liquidity materially improved during the period: cash, cash equivalents and…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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