PACS — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Subsequent to June 30, 2026, we expanded our operations in one existing state through the addition of 20 skilled nursing facilities, which were acquired through long-term leases. The subsequent acquisition added a total of 2,312 skilled nursing beds. Additionally, during the same period we expanded …

• We use Adjusted Net Income, Adjusted Earnings Per Share, EBITDA, and Adjusted EBITDA to facilitate internal comparisons of our historical operating performance on a more consistent basis, as well as for business planning and forecasting purposes. In addition, we believe presentation of these measure…

• Adjusted Net Income – We calculate Adjusted Net Income as net income, adjusted for net (loss) income attributable to noncontrolling interest, further adjusted for non-core business items as listed in Adjusted EBITDA, as well as the related income tax effects of these adjustments.

• Adjusted Earnings Per Share – We calculate Adjusted Earnings Per Share by dividing Adjusted Net Income by the weighted‑average diluted shares outstanding for the applicable period.

• EBITDA – We calculate EBITDA as net income, adjusted for net (loss) income attributable to noncontrolling interest, before: interest expense; provision for income taxes; and depreciation and amortization.

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Subsequent to March 31, 2026, we expanded our operations in one existing state with the addition of one assisted living and independent living facility which was acquired in conjunction with the real estate for the property. The subsequent acquisition added a total of 82 assisted living beds.

• Non-GAAP Financial Measures with the same or similar names differently, and because these Non-GAAP Financial Measures are not standardized, it may not be possible to compare these financial measures to those of other companies.

• We use EBITDA and Adjusted EBITDA to facilitate internal comparisons of our historical operating performance on a more consistent basis, as well as for business planning and forecasting purposes. In addition, we believe the presentation of EBITDA and Adjusted EBITDA is useful to investors, analysts …

• EBITDA – We calculate EBITDA as net income, adjusted for net losses attributable to noncontrolling interest, before: interest expense; provision for income taxes; and depreciation and amortization.

• On a cohort basis, New and Ramping facilities experienced an increase in occupancy, from 81.8% and 86.4%, respectively, for the three months ended March 31, 2025 to 82.7% and 88.9%, respectively, for the three months ended March 31, 2026. The increase in New and Ramping facility cohort occupancy rat…

Text added vs the prior filing · source: 10-Q · 2026-08-04

• We are exposed to risks associated with market changes in interest rates through our borrowing arrangements. As of June 30, 2026, we had no variable rate debt. When a balance is maintained, our credit facility exposes us to variability in interest payments due to changes in SOFR interest rates. We m…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• We are exposed to risks associated with market changes in interest rates through our borrowing arrangements. As of March 31, 2026, we had $45.0 million of variable rate debt, none of which was subject to an interest rate hedge. In particular, our credit facility exposes us to variability in interest…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• the quarter ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Text added vs the prior filing · source: 10-Q · 2026-08-04

• Other than as set forth above, during the three months ended June 30, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• On March 11, 2026, Mark Hancock, our Executive Vice Chairman and former interim Chief Financial Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 1,800,000 shares of the Company’s common stock until June 30,…

• On March 12, 2026, Josh Jergensen, our President and Chief Operating Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 252,519 shares of the Company’s common stock until March 12, 2027.

• Other than as set forth above, during the three months ended March 31, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.