------------------------- ------------------------- ------------------------ ------------------------
Cash revenue 66,912 43,635 189,580 137,525
Revenue
attributable
to
non-Same-Store
properties (22,505) (4,531) (58,967) (20,486)
Revenue
attributable
to development
conversion (411) (199) (1,096) (1,268)
------------------------- ------------------------- ------------------------ ------------------------
Same-Store
revenue $ 43,996 $ 38,905 $ 129,517 $ 115,771
========================= ========================= ======================== ========================
Triple-Net
Leased
Properties
GAAP revenue $ 13,265 $ 11,282 $ 39,499 $ 31,323
Straight line
rent (534) $(505.SI)$ (2,128) (1,868)
Other non-cash
adjustments 217 2,893 639 11,627
Cash revenue
attributable
to
noncontrolling
interest (2) (190) (186) (562) (552)
------------------------- ------------------------- ------------------------ ------------------------
Cash revenue 12,758 13,484 37,448 40,530
Debt security
investment (2,453) (2,014) (6,573) (6,029)
Revenue
attributable
to
non-Same-Store
properties -- (1,367) -- (4,541)
Revenue
attributable
to Non-Core
Properties (461) (432) (1,382) (1,357)
------------------------- ------------------------- ------------------------ ------------------------
Same-Store
revenue $ 9,844 $ 9,671 $ 29,493 $ 28,603
========================= ========================= ======================== ========================
AMERICAN HEALTHCARE REIT, INC.
Same-Store Revenue Reconciliation - (Continued)
For the Three And Nine Months Ended September 30, 2024 and 2023
(In thousands) (Unaudited)
Three Months Ended September 30, Nine Months Ended September 30,
------------------------------------------------ -----------------------------------------------
2024 2023 2024 2023
----------------------- ----------------------- ---------------------- -----------------------
Total
GAAP revenue
and Grant
Income $ 523,814 $ 464,240 $ 1,527,928 $ 1,384,037
Straight line
rent (682) (814) (2,562) (2,897)
Other non-cash
adjustments (45) 2,677 (75) 11,273
Grant Income -- (1,064) -- (7,445)
Cash revenue
attributable
to
noncontrolling
interests (2) (486) (466) (1,425) (1,568)
----------------------- ----------------------- ---------------------- -----------------------
Cash revenue
(1)(2) 522,601 464,573 1,523,866 1,383,400
Debt security
investment (2,453) (2,014) (6,573) (6,029)
Revenue
attributable
to
non-Same-Store
properties
(1) (158,726) (124,998) (444,982) (376,625)
Revenue
attributable
to development
conversion (411) (199) (1,096) (1,268)
Revenue
attributable
to Non-Core
Properties (1,617) (1,625) (5,068) (4,885)
Other
normalizing
revenue
adjustments (1,236) -- (1,236) --
----------------------- ----------------------- ---------------------- -----------------------
Same-Store
revenue
(1)(2) $ 358,158 $ 335,737 $ 1,064,911 $ 994,593
======================= ======================= ====================== =======================
(1) Prior quarters' information has been updated to reflect the increase in
ownership to 100% in the Company's ISHC segment effective September
2024.
(2) All quarters are based upon current quarter's ownership percentage.
AMERICAN HEALTHCARE REIT, INC.
Earnings Guidance Reconciliation
For the Year Ending December 31, 2024
(Dollars and shares in millions, except per share amounts) (Unaudited)
Revised Previous
Full Year 2024 Guidance Full Year 2024 Guidance
-------------------------------------- --------------------------------------
Low High Low High
------------------ ------------------ ------------------ ------------------
Net (loss)
income
attributable to
common
stockholders $ 7.84 $ 11.76 $ (8.80) $ (3.05)
Depreciation and
amortization(1) 158.40 158.40 154.50 154.50
------------------ ------------------ ------------------ ------------------
NAREIT FFO
attributable to
common
stockholders $ 166.24 $ 170.16 $ 147.30 $ 151.30
================== ================== ================== ==================
Amortization of
intangible
liabilities(1) $ 1.90 $ 1.90 $ 1.80 $ 1.80
Change in
deferred
rent(1) (1.70) (1.70) (1.10) (1.10)
Non-cash impact
of changes to
equity
plan(1)(2) 9.40 9.40 9.40 9.40
Other
adjustments(3) 6.60 6.60 (3.20) (3.20)
------------------ ------------------ ------------------ ------------------
Normalized FFO
attributable to
common
stockholders $ 182.44 $ 186.36 $ 154.20 $ 158.20
================== ================== ================== ==================
Net income
(loss) per
common share --
diluted $ 0.06 $ 0.09 $ (0.07) $ (0.02)
NAREIT FFO per
common share --
diluted $ 1.28 $ 1.31 $ 1.17 $ 1.22
Normalized FFO
per common
share --
diluted $ 1.40 $ 1.43 $ 1.23 $ 1.27
NAREIT FFO and
Normalized FFO
weighted
average shares
-- diluted 130.1 130.1 124.5 124.5
Total Portfolio
Same-Store NOI
growth 15.0 % 17.0 % 12.0 % 14.0 %
Segment-Level
Same-Store NOI
growth
ISHC 21.0 % 23.0 % 18.0 % 20.0 %
OM (0.5 %) -- % (0.5 %) -- %
SHOP 51.5 % 53.5 % 45.0 % 50.0 %
Triple-Net
Leased
Properties 2.0 % 4.0 % 1.0 % 3.0 %
(1) Amounts presented net of noncontrolling interests' share and AHR's share
of unconsolidated entities.
(2) Amounts represent amortization of equity compensation and fair value
adjustments to performance-based equity compensation.
(3) Includes items as noted in the Company's definition for NFFO.
Definitions
Adjusted EBITDA: EBITDA excluding the impact of gain or loss from unconsolidated entities, straight line rent and amortization of above/below market leases, non-cash stock-based compensation expense, business acquisition expenses, gain or loss on sales of real estate investments, unrealized foreign currency gain or loss, change in fair value of derivative financial instruments, impairments of real estate investments, impairments of intangible assets and goodwill, and non-recurring one-time items.
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