Company: UHG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001830188-25-000012
Chunk: 88

Company: United Homes Group, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 88
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90,080,976 $2,326,384 2.6 %Adjusted gross profit %(c)19.9 %21.4 %(1.5)%(7.0)%EBITDA(d)$60,431,172 $144,815,138 $(84,383,966)(58.3)%EBITDA margin %(c)13.0 %34.4 %(21.3)%(62.1)%Adjusted EBITDA(d)$31,636,133 $40,470,122 $(8,833,989)(21.8)%Adjusted EBITDA margin %(c)6.8 %9.6 %(2.8)%(29.2)%

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NM - Not Meaningful

(a)UHG had 13 communities in closeout as of the year ended December 31, 2024 and 7 communities in closeout as of the year ended December 31, 2023. These communities are not included in the count of “Active communities at end of period.”

(b)Average sales price of homes closed, excluding the impact of percentage of completion revenues and build to rent revenues.

(c)Calculated as a percentage of revenue

(d)Adjusted gross profit, EBITDA and adjusted EBITDA are non-GAAP financial measures. For definitions of adjusted gross profit, EBITDA and adjusted EBITDA and a reconciliation to the most directly comparable financial measures calculated and presented in accordance with GAAP, see “Non-GAAP Financial Measures.”

Revenues: Revenues for the year ended December 31, 2024 were $463.7 million, an increase of $42.2 million, or 10.0%, from $421.5 million for the year ended December 31, 2023. The increase in revenues was primarily attributable to the increase in production-built home closings, due to acquisitions in late 2023 and early 2024, and the Company’s increased sales efforts in the second half of the year to sell and close finished inventory. Higher average sales price of production-built homes further contributed to the increase in revenues. The average sales price of production-built homes closed for the year ended December 31, 2024 was $329,111, an increase of $13,393, or 4.2%, from the average sales price of production-built homes closed of $315,718 for the year ended December 31,