Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 134

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 134
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 decreased 39.2% to $396.6 million from $651.9 million.

•Homes closed decreased 39.4% to 1,065 homes from 1,757 homes.

•Average sales price per home closed increased 0.4% to $372,424 from $371,004. 

•Gross margin as a percentage of home sales revenues decreased to 21.5% from 25.1%. 

•Adjusted gross margin (non-GAAP) as a percentage of home sales revenues decreased to 24.5% from 27.2%. 

•Net income before income taxes decreased 70.9% to $26.7 million from $91.9 million.

•Net income decreased 71.7% to $19.7 million from $69.6 million.

•EBITDA (non-GAAP) as a percentage of home sales revenues decreased to 9.8% from 16.2%.

For reconciliations of the non-GAAP financial measures of adjusted gross margin and EBITDA to the most directly comparable GAAP financial measures, please see “—Non-GAAP Measures.”

Key financial results as of and for the nine months ended September 30, 2025, as compared to the nine months ended September 30, 2024, were as follows:

•Home sales revenues decreased 25.1% to $1.2 billion from $1.6 billion.

•Homes closed decreased 24.7% to 3,384 homes from 4,495 homes.

•Average sales price per home closed decreased 0.6% to $363,929 from $366,007. 

•Gross margin as a percentage of home sales revenues decreased to 21.9% from 24.7%. 

•Adjusted gross margin (non-GAAP) as a percentage of home sales revenues decreased to 24.6% from 26.7%. 

•Net income before income taxes decreased 61.2% to $74.5 million from $191.8 million.

•Net income decreased 62.0% to $55.2 million from $145.2 million.

•EBITDA (non-GAAP) as a percentage of home sales revenues decreased to 8.8% from 13.6%.

For reconciliations of the non-GAAP financial measures of adjusted gross margin and EBITDA to the most directly comparable GAAP financial measures, please see “—Non-GAAP