Sonida Senior Living, Inc. · NYSE:SNDA
Sonida Senior Living — Q1 2023 Earnings Presentation
12 slides from Sonida Senior Living's earnings presentation, May 11, 2023
Slide 1: A Leading Owner-Operator of Senior Living Communities and Services
A Leading Owner-Operator of Senior Living Communities and Services Investor Presentation – May 11, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements which are subject to certain risks and uncertainties that could cause our actual results and financial condition of Sonida Senior Living, Inc. (the “Company,” “we,” “our” or “us”) to differ materially from those indicat
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains financial measures: (1) same-store Resident Revenue, (2) same-store Adjusted Operating Expenses, (3) same-store Community Net Operating Income, (4) same-store Community Net Operating Income Margin, (5) same-store Adjusted Community Net Operating
Slide 4: Leading Operator of Senior Housing and Services
Leading Operator of Senior Housing and Services 72 ~8,000 30+ 84.0% Communities Year 2023 Q1 Weighted Avg 3,600+ Resident 62 Owned History Occupancy Employees Capacity 10 Managed 62 owned communities Attractive Markets and Resident Demographics 1 Attractive Private Pay Focus 1 15+ Communities 6,932
Slide 5: Q1 2023 Same-Store Highlights – 60 Communities
Q1 2023 Same-Store Highlights – 60 Communities Eight consecutive quarters of occupancy and revenue growth YoY Q1 Resident Revenue increased 10.9% RevPAR up 11.4% YoY RevPOR up 8.9% YoY and 6.5% from Q4 ‘22 and 6.5% from Q4 ‘22 Adjusted Community NOI(1) up 20.4% and 6.7% YOY and from Q4 ’22, respecti
Slide 6: Q1 2023 Financial Comparisons – Owned Communities
Q1 2023 Financial Comparisons – 62 Owned Communities Community NOI Margin increased 380bps from 19.9% in Q4 2022 to 23.7% in Q1 2023 Q1 2023 Q1 2022 Q4 2022 March 2023 (annualized) Weighted Average Occupancy 84.0% 81.8% 83.9% 83.9% RevPAR(1,2) $3,282 $2,962 $3,081 $3,254 RevPOR(1,3) $3,909 $3,619 $3
Slide 7: Eight Consecutive Quarters of Occupancy Growth (Same-Store)
Eight Consecutive Quarters of Occupancy Growth (Same-Store) 85.0% 85.0% 84.9% 84.4% 84.2% 84.2% 84.2% 84.0% 83.7% 83.7% 83.5% 83.2% 82.9% 82.3% 82.2% 82.2% 81.5% 81.3% 81.0% 80.6% 79.7% 79.3% 78.6% 78.1% 77.4% 76.7% 76.5% 75.5% Q4 '19 Q1 '20 Q2 '20 Q3 '20 Q4 '20 Q1 '21 Q2 '21 Q3 '21 Q4 '21 Q1 '22 Q2
Slide 8: Q1 Revenue Highlights
Q1 Revenue Highlights Single Lease Renewal Date Initiative Ongoing Unit Market Rate Reviews New Level of Care (“LoC”) Program • Shifted applicable residents (Apr – Oct • Leverage industry data by key • Simplified to 4 levels of care with clear renewals) to a single annual lease renewal Designated Ma
Slide 9: Key Expense Categories are Decreasing
Key Expense Categories are Decreasing Total labor costs decreased 0.7% from Q4 2022 to Q1 2023 $646K $558K $679K $626K $339K (1) Amounts calculated as total operating expenses (excluding labor and food costs) as a percentage of revenues adjusted for the exclusion of non-recurring state grants. 9
Slide 10: Debt Structure as of March 31, 2023
Debt Structure as of March 31, 2023 Insurance and Other Protective Life Compliant Variable Rate 0.4% Fixed Rate 21.5% 7.6% All Other Fixed Rate 59.6% (1) Weighted average interest rate on the Company’s fixed rate debt was 4.6 % as of March 31, 2023. (2) The Company owns 10 communities collateralized
Slide 11: Liquidity and Capital Resources Update
Liquidity and Capital Resources Update The Company continues to make significant progress to address overall liquidity and uncertainty surrounding our ability to continue as a going concern. ✓ Status Key New Strategic and Operational Plans ✓ Loan Modification Discussions ✓ On track ✓ Targeted Capex
Slide 12: Sonida Senior Living
@ SOnIDa’ SENIOR LIVING At Sonida Senior Living, we bring quality senior living to life by focusing on what matters most. We provide comfortable, safe, affordable communities where residents can form friendships, enjoy new experiences and receive personalized care from dedicated team members who tre