v3.26.1
Business Segments (Tables)
6 Months Ended
Jun. 30, 2026
Business Segments  
Schedule of segment reporting information

2026

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HFS - South

​

WHS

​

Government

​

All Other

  ​ ​ ​

Total

For the six months ended June 30, 2026

  ​ ​ ​

​

​

  ​ ​ ​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

65,696

​

$

59,948

​

$

26,938

​

$

5,654

(a)

$

158,236

Less: Adjusted Cost of Sales (b)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Labor costs

​

$

19,327

​

$

7,373

​

$

5,383

​

$

2,360

​

$

34,443

Outside services

​

​

169

​

​

248

​

​

2

​

​

—

​

​

419

Community operating costs

​

​

26,267

​

​

11,785

​

​

8,968

​

​

3,130

​

​

50,150

Costs of construction

​

​

7

​

​

6,902

​

​

—

​

​

—

​

​

6,909

Repairs and maintenance

​

​

2,960

​

​

1,043

​

​

1,088

​

​

216

​

​

5,307

Other costs

​

​

1,206

​

​

3,897

​

​

146

​

​

86

​

​

5,335

Adjusted gross profit

​

$

15,760

​

$

28,700

​

$

11,351

​

$

(138)

​

$

55,673

Depreciation of specialty rental assets

​

$

8,276

​

$

12,740

​

$

10,248

​

$

1,729

​

$

32,993

Capital expenditures (c)

​

$

3,861

​

$

172,093

​

$

111

​

$

99

​

​

​

Total Assets

​

$

158,563

​

$

282,538

​

$

89,631

​

$

19,195

​

$

549,927

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended June 30, 2026

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

32,639

​

$

36,328

​

$

13,495

​

$

2,993

(a)

$

85,455

Less: Adjusted Cost of Sales (b)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Labor costs

​

​

9,374

​

​

4,960

​

​

2,688

​

​

1,225

​

​

18,247

Outside services

​

​

86

​

​

203

​

​

1

​

​

—

​

​

290

Community operating costs

​

​

13,422

​

​

8,375

​

​

3,787

​

​

1,560

​

​

27,144

Costs of construction

​

​

—

​

​

398

​

​

—

​

​

—

​

​

398

Repairs and maintenance

​

​

1,748

​

​

633

​

​

540

​

​

131

​

​

3,052

Other costs

​

​

652

​

​

2,324

​

​

83

​

​

50

​

​

3,109

Adjusted gross profit

​

$

7,357

​

$

19,435

​

$

6,396

​

$

27

​

$

33,215

Depreciation of specialty rental assets

​

$

4,000

​

$

8,704

​

$

3,852

​

$

862

​

$

17,418

Capital expenditures (c)

​

$

2,644

​

$

128,333

​

$

48

​

$

79

​

​

​

​

2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HFS - South

​

WHS

​

Government

​

All Other

  ​ ​ ​

Total

For the six months ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

72,234

​

$

20,245

​

$

33,204

​

$

5,820

(a)

$

131,503

Less: Adjusted Cost of Sales (b)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Labor costs

​

$

20,111

​

$

215

​

$

3,761

​

$

2,370

​

$

26,457

Outside services

​

​

249

​

​

34

​

​

73

​

​

—

​

​

356

Community operating costs

​

​

26,291

​

​

218

​

​

9,502

​

​

2,878

​

​

38,889

Costs of construction

​

​

4

​

​

14,777

​

​

—

​

​

—

​

​

14,781

Repairs and maintenance

​

​

2,908

​

​

19

​

​

1,600

​

​

241

​

​

4,768

Other costs

​

​

1,091

​

​

26

​

​

170

​

​

73

​

​

1,360

Adjusted gross profit

​

$

21,580

​

$

4,956

​

$

18,098

​

$

258

​

$

44,892

Depreciation of specialty rental assets

​

$

8,933

​

$

743

​

$

15,835

​

$

1,745

​

$

27,256

Capital expenditures (c)

​

$

4,234

​

$

15,760

​

$

6,885

​

$

19

​

​

​

Total Assets (as of December 31, 2025)

​

$

165,406

​

$

63,934

​

$

157,460

​

$

21,100

​

$

407,900

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

For the three months ended June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revenue

​

$

36,166

​

$

15,042

​

$

7,487

​

$

2,911

(a)

$

61,606

Less: Adjusted Cost of Sales (b)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Labor costs

​

​

10,332

​

​

133

​

​

2,321

​

​

1,269

​

​

14,055

Outside services

​

​

166

​

​

20

​

​

4

​

​

—

​

​

190

Community operating costs

​

​

13,187

​

​

135

​

​

5,158

​

​

1,367

​

​

19,847

Costs of construction

​

​

4

​

​

11,033

​

​

—

​

​

—

​

​

11,037

Repairs and maintenance

​

​

1,439

​

​

14

​

​

1,005

​

​

135

​

​

2,593

Other costs

​

​

491

​

​

20

​

​

79

​

​

38

​

​

628

Adjusted Gross Profit

​

$

10,547

​

$

3,687

​

$

(1,080)

​

$

102

​

$

13,256

Depreciation of specialty rental assets

​

$

4,441

​

$

372

​

$

7,904

​

$

867

​

$

13,584

Capital expenditures (c)

​

$

1,581

​

$

113

​

$

4,287

​

$

1

​

​

​

(a)Revenues from segments below the quantitative thresholds are reported in the “All Other” category previously described.
(b)The significant expense categories and amounts align with the segment-level information that is regularly provided to the CODM. There are no intersegment expenses. Note that community operating costs consist primarily of catering food purchases, lodge supplies, apparel and uniform expenses, linen expenses, operating lease expense for land, facilities, and equipment to service certain communities, property taxes, and utility costs. Other costs includes transportation and travel expenses, including the cost of relocating community assets.
(c)The primary difference between capital expenditures allocated to segments included in the tables above and total capital expenditures for the Company is the amount of expenditures incurred for corporate unallocated amounts, which is not included in the segment information. Such unallocated corporate capital expenditure amounts for the six months ended June 30, 2026 and 2025, were approximately $1.2 million and $0.3 million, respectively. Such unallocated corporate capital expenditure amounts for the three months ended June 30, 2026 and 2025 were approximately $0.8 million and less than $0.1 million, respectively.
Schedule of reconciliation of total segment adjusted gross profit

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​

​

​

​

​

​

​

​

​

​

​

For the Three Months Ended

​

For the Six Months Ended

​

​

June 30, 2026

  ​ ​ ​

June 30, 2025

​

June 30, 2026

  ​ ​ ​

June 30, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

Total reportable segment adjusted gross profit

​

$

33,188

​

$

13,154

​

$

55,811

​

$

44,634

Other adjusted gross profit

​

 

27

​

 

102

​

 

(138)

​

 

258

Depreciation and amortization

​

 

(21,538)

​

 

(17,666)

​

 

(41,134)

​

 

(35,311)

Selling, general, and administrative expenses

​

 

(18,753)

​

 

(12,664)

​

 

(33,310)

​

 

(27,469)

Other income (expense), net

​

 

(420)

​

 

156

​

 

(3,048)

​

 

(106)

Loss on extinguishment of debt

​

​

—

​

​

—

​

​

—

​

​

(2,370)

Interest expense, net

​

 

(1,012)

​

 

(937)

​

 

(1,904)

​

 

(5,266)

Consolidated loss before income taxes

​

$

(8,508)

​

$

(17,855)

​

$

(23,723)

​

$

(25,630)

Schedule of reconciliation of total segment assets to total consolidated assets

​

​

​

​

​

​

​

​

​

  ​ ​ ​

June 30, 2026

​

December 31, 2025

Total reportable segment assets

​

$

530,732

​

$

386,800

Other assets (d)

​

 

21,143

​

 

22,398

Other unallocated amounts

​

 

102,315

​

 

121,007

Total Assets

​

$

654,190

​

$

530,205

(d)Other assets in the table above includes unallocated corporate assets of approximately $1.9 million and $1.3 million as of June 30, 2026 and December 31, 2025, respectively.
Schedule of unallocated assets consist of the following as reported in the consolidated balance sheets

​

​

​

​

​

​

​

​

​

  ​ ​ ​

June 30, 2026

  ​ ​ ​

December 31, 2025

Total current assets

​

$

63,870

​

$

73,338

Other intangible assets, net

​

 

32,601

​

 

39,332

Operating lease right-of-use assets, net

​

​

3,506

​

​

6,544

Deferred financing costs revolver, net

​

 

2,127

​

 

1,793

Other non-current assets (e)

​

​

211

​

​

—

Total other unallocated amounts of assets

​

$

102,315

​

$

121,007

​

​

(e)Other non-current assets in the table above excludes allocated deposits for specialty rental assets of approximately $34.1 million and $0 as of June 30, 2026 and December 31, 2025, respectively, all of which is allocated to the WHS segment as a component of WHS Total Assets and is included in the Total reportable segment assets above.  Refer to Note 6 for discussion of deposits for specialty rental assets.