The following is a summary of the Sonida Senior Living, Inc. (SNDA) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Sonida Senior Living reported more than 10% revenue growth in 2023 on a same-store basis.

• The company doubled its adjusted EBITDA year-over-year to $34 million in 2023, up from $17 million in 2022.

• There was an increase in cash flow from operations exceeding $10 million in 2023, a $13 million advancement compared to 2022.

• Sonida achieved a significant debt reduction of $55 million since January 2023.

Business Progress:

• An increased strategic focus on team-building, value delivery and margin enhancement has led to significant performance improvements.

• Company demonstrated high retention of regional operations and sales leaders, with community leadership retention improving by nearly 10% YoY.

• Investments were made in real estate expansion, technology for operational efficiency, and leadership development across its sector's disciplines.

• Sonida is exploring growth opportunities in new markets in Midwest, Southeast, and South regions, while also focusing on market densification in existing areas.

• The company aims to drive occupancy improvement in underperforming assets with an overall goal of achieving portfolio-wide occupancy in excess of 90%.

• By championing clinical and resident programming investments, along with the use of labor management technology, Sonida anticipates further margin expansion.

More details: Sonida Senior Living IR

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