Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 158

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 158
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 the three months ended September 30, 2025 was $74.7 million, a decrease of $21.6 million, from $96.3 million for the three months ended September 30, 2024. The decrease in Cost of sales was largely attributable to a decrease in home closings of 29.0% compared to the same period in 2024. 

Gross profit for the three months ended September 30, 2025 was $16.0 million, a decrease of $6.4 million, from $22.4 million for the three months ended September 30, 2024. Gross margin for the three months ended September 30, 2025 was 17.7%, a decrease of 1.2%, as compared 18.9% for the three months ended September 30, 2024. Gross margins decreased in the third quarter of 2025, primarily due to more discounting to drive sales, partially offset by direct construction cost savings as a result of the rebid initiative.

Adjusted gross profit: Adjusted gross profit for the three months ended September 30, 2025 was $17.8 million, a decrease of $6.7 million, as compared to $24.5 million for the three months ended September 30, 2024. Adjusted gross margin for the three months ended September 30, 2025 was 19.6%, a decrease of 1.0%, as compared to 20.6% for the three months ended September 30, 2024. The decrease in adjusted gross margin was primarily attributable to more discounting, partially offset by direct construction cost savings. Adjusted gross profit is a non-GAAP financial measure. For the definition of adjusted gross profit and a reconciliation to UHG’s most directly comparable financial measure calculated and presented in accordance with GAAP, see “Non-GAAP Financial Measures.”

Selling, general and administrative expense: Selling, general and administrative expense for the three months ended September 30, 2025 was $17.6 million, a decrease of $1.1 million, from $18.7 million for the three months ended September 30, 2024. The decrease is primarily due to a $2.2 million decrease in commission expense due to less broker incentives and fewer closings, partially offset by increases of $0.4 million in salaries and wages due to increased headcount, and $0.4 million in stock compensation expense.

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