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Sonida Senior Living (SNDA) investor relations material

Sonida Senior Living Q3 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2025 earnings summary10 Nov, 2025

Executive summary

  • Announced a $1.8 billion merger agreement to acquire CNL Healthcare Properties (CHP), expected to close in late Q1 or early Q2 2026, creating the 8th largest U.S. senior living owner by units and expanding the portfolio to 97 communities across 20 states.

  • The transaction aims to enhance portfolio quality, reduce leverage, drive AFFO per share accretion, and provide significant capital for reinvestment and acquisitions.

  • Integration plans are underway, leveraging a strong track record of successful acquisitions and operational improvements, with a strategic focus on organic and inorganic growth.

  • Weighted average occupancy for owned communities reached 87.7% in Q3 2025, a post-Covid high, with spot occupancy at 89% by end of October.

  • Resident revenue rose 26.3% year-over-year to $84.6 million for Q3 2025, driven by higher rent rates, increased occupancy, and recent acquisitions.

Financial highlights

  • Q3 2025 total portfolio NOI grew 21% year-over-year to $20.8 million, with adjusted EBITDA up over 30% to $13.2 million, and resident revenue up 26.3% to $84.6 million.

  • Same-store occupancy increased 90 basis points sequentially to 87.7%, with RevPOR up 4.7% year-over-year to $4,353.

  • Acquisition communities saw Q3 2025 sequential occupancy up 370 basis points, resident revenue up 5%, and NOI up 25.2%.

  • Net loss attributable to shareholders was $26.9 million in Q3 2025, compared to $13.8 million in Q3 2024.

  • Transaction costs related to the merger were $6.2 million this quarter, part of an estimated $75 million total.

Outlook and guidance

  • The merger is expected to be immediately accretive to Normalized FFO per share, with anticipated annual corporate synergies of $16–20 million.

  • Management expects continued growth in occupancy and rent rates, supported by acquisitions and operational improvements, with margin expansion as occupancy approaches 90%.

  • Labor trends are stabilizing, and technology investments are expected to support further margin improvement.

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Frequently asked questions

Sonida Senior Living Inc. owns and operates senior housing communities offering independent living, assisted living, and memory care services. The company provides housing, daily living assistance, healthcare coordination, and social activities for elderly residents. The company is headquartered in Dallas, Texas, and its shares are listed on the NYSE.

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