v3.25.3
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net loss $ (15,423) $ (7,348)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization expense 7,822 6,293
Amortization of loan costs 1,652 728
Gain on settlement of liability 0 (636)
Loss on interest rate hedge 174 55
Loss on sale of real estate 0 55
Equity-based payment 2,289 4,751
Impairment 2,545 157
Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease) (693) (1,143)
Changes in operating assets and liabilities    
Due to/from related parties 23 (10)
Accounts payable and accrued expenses 3,444 (1,796)
Indemnification liability 0 (350)
Other assets (130) (253)
Accounts receivable (229) (1,514)
Net cash provided by (used in) operating activities 1,474 (1,011)
Cash flows from investing activities:    
Capital expenditures (1,031) (463)
Insurance reimbursement for capital expenditures 120 0
Proceeds from note receivable 3,120 0
Payments on sale of investment in real estate 0 289
Net cash provided by (used in) investing activities 2,209 (174)
Cash flows from financing activities:    
Proceeds from Line of Credit 2,660 17,935
Proceeds from notes payable 0 5,900
Payments on notes payable (4,889) (7,926)
Payments on Revolving Credit Facility 0 (5,444)
Distributions to non-controlling interest holders (141) (134)
Loan fees 0 (714)
Share repurchase plan (1,006) (90)
Shares repurchased for vesting of employee awards (135) (133)
Preferred redemption payments (3,168) (1,292)
Preferred dividend payments (767) (9,328)
Net cash used in financing activities (7,446) (1,226)
Net change in cash and cash equivalents and restricted cash (3,763) (2,411)
Cash and cash equivalents and restricted cash, beginning of period 15,819 16,711
Cash and cash equivalents and restricted cash, end of period 12,056 14,300
Reconciliation of cash and cash equivalents and restricted cash:    
Cash and cash equivalents at beginning of period 10,655 11,134
Restricted cash at beginning of period 5,164 5,577
Cash and cash equivalents and restricted cash, beginning of period 15,819 16,711
Cash and cash equivalents at end of period 6,136 8,732
Restricted cash at end of period 5,920 5,568
Cash and cash equivalents and restricted cash, end of period 12,056 14,300
Supplemental disclosures of cash flow information:    
Interest Paid 8,895 8,169
Non-cash investing and financing activities:    
Distributions declared not yet paid 79 136
Accrued preferred distributions paid in common stock 0 2,452
Right of use asset and lease liability 0 332
Note receivable related to disposition of property 0 3,120
Requested preferred redemptions not yet paid 2,305 5,467
Accrued capital expenditures 0 26
Share Issued as Loan Fees [Member]    
Non-cash investing and financing activities:    
Stock issued 0 1,750
Share Issued in Exchange for Accrued Compensation [Member]    
Non-cash investing and financing activities:    
Stock issued $ 0 $ 1,303

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