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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nForm 10-Q\n\n(Mark One)\n\n☒\nQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026 \n\nOR\n\n☐\nTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from                      to                     \n\nCommission file number: 1-13445\n\nSonida Senior Living, Inc.\n\n(Exact Name of Registrant as Specified in its Charter)\n\nDelaware75-2678809\n\n(State or Other Jurisdiction of\nIncorporation or Organization)(I.R.S. Employer\nIdentification No.)\n\n14755 Preston Road, Suite 810, Dallas, Texas\n75254\n\n(Address of principal executive offices)(Zip code)\n\n(972) 770-5600\n\n(Registrant’s telephone number, including area code)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of each classTrading\nSymbol(s)Name of exchange on which registered\n\nCommon Stock, $0.01 par value per shareSNDANew York Stock Exchange\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes   x     No   ¨\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes   x     No  ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer¨Accelerated filerx\n\nNon-accelerated filer¨Smaller reporting companyx\n\nEmerging growth company\n☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨\n\nIndicate by a check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  ☐ No  x\n\nAs of May 7, 2026, the Registrant had 47,346,257 shares of common stock outstanding.\n\nSonida Senior Living, Inc.\n\nForm 10-Q Table of Contents\n\nFor the Period Ended March 31, 2026\n\nPage\nNumber\n\n[Part I. Financial Information](#ied94973d68764e8893b3d57f51535691_13)\n\n[Item 1. Financial Statements](#ied94973d68764e8893b3d57f51535691_16)\n\n[Condensed Consolidated Balance Sheets — March 31, 2026 (Unaudited) and December 31, 2025](#ied94973d68764e8893b3d57f51535691_19)\n\n[5](#ied94973d68764e8893b3d57f51535691_19)\n\n[Condensed Consolidated Statements of Operations — Three Months Ended March 31, 2026 and 2025 (Unaudited)](#ied94973d68764e8893b3d57f51535691_22)\n\n [6](#ied94973d68764e8893b3d57f51535691_22)\n\n[Condensed Consolidated Statements of Changes in Equity (Deficit) — Three Months Ended March 31, 2026 and 2025 (Unaudited)](#ied94973d68764e8893b3d57f51535691_22)\n\n [7](#ied94973d68764e8893b3d57f51535691_25)\n\n[Condensed Consolidated Statements of Cash Flows — Three Months Ended March 31, 2026 and 2025 (Unaudited)](#ied94973d68764e8893b3d57f51535691_28)\n\n [8](#ied94973d68764e8893b3d57f51535691_28)\n\n[Notes to Condensed Consolidated Financial Statements (Unaudited)](#ied94973d68764e8893b3d57f51535691_31)\n\n [9](#ied94973d68764e8893b3d57f51535691_31)\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ied94973d68764e8893b3d57f51535691_106)\n\n[35](#ied94973d68764e8893b3d57f51535691_106)\n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#ied94973d68764e8893b3d57f51535691_130)\n\n [45](#ied94973d68764e8893b3d57f51535691_130)\n\n[Item 4. Controls and Procedures](#ied94973d68764e8893b3d57f51535691_133)\n\n[45](#ied94973d68764e8893b3d57f51535691_133)\n\n[Part II. Other Information](#ied94973d68764e8893b3d57f51535691_136)\n\n [46](#ied94973d68764e8893b3d57f51535691_136)\n\n[Item 1. Legal Proceedings](#ied94973d68764e8893b3d57f51535691_139)\n\n [46](#ied94973d68764e8893b3d57f51535691_139)\n\n[Item 1A. Risk Factors](#ied94973d68764e8893b3d57f51535691_142)\n\n [46](#ied94973d68764e8893b3d57f51535691_142)\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#ied94973d68764e8893b3d57f51535691_145)\n\n [46](#ied94973d68764e8893b3d57f51535691_145)\n\n[Item 3. Defaults Upon Senior Securities](#ied94973d68764e8893b3d57f51535691_148)\n\n [46](#ied94973d68764e8893b3d57f51535691_148)\n\n[Item 4. Mine Safety Disclosures](#ied94973d68764e8893b3d57f51535691_151)\n\n [46](#ied94973d68764e8893b3d57f51535691_151)\n\n[Item 5. Other Information](#ied94973d68764e8893b3d57f51535691_154)\n\n [46](#ied94973d68764e8893b3d57f51535691_154)\n\n[Item 6. Exhibits](#ied94973d68764e8893b3d57f51535691_157)\n\n [47](#ied94973d68764e8893b3d57f51535691_157)\n\n[Signatures](#ied94973d68764e8893b3d57f51535691_160)\n\n[49](#ied94973d68764e8893b3d57f51535691_160)\n\n2\n\nCautionary Note Regarding Forward-Looking Statements\n\nCertain information contained in this Quarterly Report on Form 10-Q of Sonida Senior Living, Inc. (together with its consolidated subsidiaries, “Sonida,” “we,” “our,” “us,” or the “Company”) constitutes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included in this Quarterly Report on Form 10-Q, including, without limitation, those relating to the Company’s future business prospects and strategies, the Company’s preliminary purchase price and purchase price accounting for the CHP Merger (as defined below), financial results, working capital, liquidity, capital needs and expenditures, interest costs, insurance availability and contingent liabilities, are forward-looking statements. Forward-looking statements can be identified by the use of forward-looking terminology such as “may,” “will,” “would,” “intend,” “could,” “believe,” “expect,” “anticipate,” “project,” “plans,” “estimate” or “continue” or the negatives thereof or other variations thereon or comparable terminology.\n\nForward-looking statements are subject to certain risks and uncertainties that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements, including, among others, the risks, uncertainties and factors set forth under “Item. 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (the “SEC”) on March 12, 2026, as well as “[Item. 1A. Risk Factors](#ied94973d68764e8893b3d57f51535691_142)” in this Quarterly Report on Form 10-Q, and also include the following:\n\n•the Company’s ability to generate sufficient cash flows from operations, proceeds from equity issuances and debt financings, and proceeds from the sale of assets to satisfy its short and long-term debt obligations and to fund the Company’s acquisitions and capital improvement projects to expand, redevelop, and/or reposition its senior living communities;\n\n•increased competition for, or a shortage of, skilled workers, including due to general labor market conditions, along with wage pressures resulting from such increased competition, low unemployment levels, use of contract labor, minimum wage increases and/or changes in immigration and overtime laws;\n\n•elevated market interest rates that increase the cost of certain of our debt obligations;\n\n•the Company’s ability to obtain additional capital on terms acceptable to it;\n\n•the Company’s ability to extend or refinance its existing debt as such debt matures, in particular the Company’s ability to refinance its Bridge Facility (as defined below) on the terms and within the timeline expected, or at all;\n\n•the Company’s compliance with its debt agreements, including certain financial covenants, and the risk of cross-default in the event such non-compliance occurs;\n\n•the Company’s ability to complete acquisitions and dispositions upon favorable terms or at all, including the possibility that the expected benefits and the Company’s projections related to such acquisitions may not materialize as expected;\n\n•litigation relating to the merger completed on March 11, 2026 with CNL Healthcare Properties, Inc., (the “CHP Merger”) that has been or could be instituted against CNL Healthcare Properties, Inc., (“CHP”) , the Company and our respective directors;\n\n•our ability to integrate our business with CHP successfully, and to achieve the anticipated benefits;\n\n•the possibility that companies that the Company has acquired (including CHP) or may acquire could have undiscovered liabilities, or that companies or assets that the Company has acquired (including CHP) or may acquire could involve other unexpected costs or may strain the Company’s management capabilities;\n\n•potential adverse reactions or changes to business relationships resulting from the CHP Merger;\n\n•the risk of oversupply and increased competition in the markets which the Company operates;\n\n•the Company’s ability to maintain internal controls over financial reporting;\n\n•the cost and difficulty of complying with applicable licensure, legislative oversight, or regulatory changes;\n\n•risks associated with current global economic conditions and general economic factors such as elevated labor costs due to shortages of medical and non-medical staff, competition in the labor market, increased costs of salaries, wages and benefits, and immigration laws, the consumer price index, commodity costs, fuel and other energy costs, supply chain disruptions, increased insurance costs, tariffs, elevated interest rates and tax rates;\n\n•the impact from or the potential emergence and effects of a future epidemic, pandemic, outbreak of infectious disease or other health crisis;\n\n•the Company’s ability to maintain the security and functionality of its information systems, to prevent a cybersecurity attack or breach, and to comply with applicable privacy and consumer protection laws, including HIPAA; and\n\n•changes in accounting principles and interpretations.\n\n3\n\nWe caution you that the risks, uncertainties and other factors referenced above may not contain all of the risks, uncertainties and other factors that are important to you. In addition, we cannot assure you that we will realize the results, benefits or outcomes that we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our business in the way expected. All forward-looking statements in this Quarterly Report on Form 10-Q apply only as of the date made and are expressly qualified in their entirety by the cautionary statements included in this Quarterly Report on Form 10-Q. Except as required by applicable law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.\n\n4\n\nPart I. FINANCIAL INFORMATION"}