Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 162

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 162
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3 Other consists of UHG’s homebuilding operations in Raleigh, NC.

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

The following table presents summary results of operations for the periods indicated:

Nine Months Ended September 30, 20252024Amount Change% Change Statements of OperationsRevenue, net of sales discounts$283,301 $328,902 $(45,601)(13.9)%Cost of sales233,206 270,847 (37,641)(13.9)%Selling, general and administrative expense51,749 55,358 (3,609)(6.5)%Other expense, net(7,309)(9,255)1,946 (21.0)%Equity in net earnings from investment in joint venture715 1,076 (361)(33.6)%Change in fair value of derivative liabilities(12,170)50,650 (62,820)(124.0)%(Loss) income before taxes$(20,418)$45,168 $(65,586)(145.2)%Income tax benefit(962)(1,071)109 (10.2)%Net (loss) income$(19,456)$46,239 $(65,695)(142.1)%Other Financial and Operating Data:Active communities at end of period(a)56 55 1 1.8 %Home closings817 1,017 (200)(19.7)%Average sales price of homes closed(b)$346,810 $331,111 $15,699 4.7 %Net new orders924 1,048 (124)(11.8)%Cancellation rate12.8 %11.6 %1.2 %10.6 %Backlog264 220 44 20.0 %Gross profit$50,095 $58,055 $(7,960)(13.7)%Gross margin(c)17.7 %17.7 %— %— %Adjusted gross profit(d)$56,615 $67,940 $(11,325)(16.7)%Adjusted gross margin(c)(d)20.0 %20.7 %(0.7)%(3.4)%EBITDA(d)$(7,278)$62,859 $(70,137)(111.6)%EBITDA margin(c