Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 123

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 123
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 will be required to repay to the Company a pro rata portion of the after-tax value of the Retention Payment, provided that such termination is by the Company for Cause or by the Participant other than for Good Reason (each term as defined in the respective employment agreements of the Participants).

28

Results of Operations 

Three Months Ended September 30, 2025 Compared to Three Months Ended September 30, 2024

The following table presents summary results of operations for the periods indicated (dollar amounts in thousands except average sales price):

Three Months Ended September 30, 20252024Change ($)Change (%)Statements of OperationsRevenue, net of sales discounts$90,794 $118,644 $(27,850)(23.5)%Cost of sales74,746 96,261 (21,515)(22.4)%Selling, general and administrative expense17,573 18,690 (1,117)(6.0)%Other expense, net(2,182)(3,710)1,528 (41.2)%Equity in net earnings from investment in joint venture218 419 (201)(48.0)%Change in fair value of derivative liabilities(27,208)(7,785)(19,423)249.5 %Loss before taxes(30,697)(7,383)(23,314)315.8 %Income tax expense (benefit)598 (44)642 (1459.1)%Net loss$(31,295)$(7,339)$(23,956)326.4 %Other Financial and Operating Data:Active communities at end of period(a)56 55 1 1.8 %Home closings262 369 (107)(29.0)%Average sales price of homes closed(b)$345,920 $320,199 $25,721 8.0 %Net new orders324 341 (17)(5.0)%Cancellation rate14.3 %12.8 %1.5 %11.6 %Backlog264 220 44 20.0 %Gross profit$16,048 $22,383 $(6,335)(28.3)%Gross margin(c)17.7 %18.9 %(1.2)%(6.3)%Adjusted gross profit(d)$17,814 $24,481 $(6,667)(27.2)%Adjusted