Company: LGIH
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001580670-25-000028
Chunk: 86

Company: LGI Homes, Inc.
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 86
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 |     |   |      2023 |   |     |   |      2022 |   |
|:----------------------------------------------|:----|:------------------------|----------:|:--|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Home sales revenues                           |     | $                       | 2,202,598 |   |     | $ | 2,358,580 |   |     | $ | 2,304,455 |   |
| Cost of sales                                 |     |                         | 1,669,310 |   |     |   | 1,816,393 |   |     |   | 1,657,855 |   |
| Gross margin                                  |     |                         |   533,288 |   |     |   |   542,187 |   |     |   |   646,600 |   |
| Capitalized interest charged to cost of sales |     |                         |    42,071 |   |     |   |    33,368 |   |     |   |    20,276 |   |
| Purchase accounting adjustments(1)            |     |                         |     4,034 |   |     |   |     6,492 |   |     |   |     6,869 |   |
| Adjusted gross margin                         |     | $                       |   579,393 |   |     | $ |   582,047 |   |     | $ |   673,745 |   |
| Gross margin %(2)                             |     |                         |      24.2 | % |     |   |      23.0 | % |     |   |      28.1 | % |
| Adjusted gross margin %(2)                    |     |                         |      26.3 | % |     |   |      24.7 | % |     |   |      29.2 | % |

(1) Adjustments result from the application of purchase accounting for acquisitions and represent the amount of the fair value step-up adjustments included in cost of sales for real estate inventory sold after the acquisition dates.

(2) Calculated as a percentage of home sales revenues.

### EBITDA
EBITDA is a non-GAAP financial measure used by management as a supplemental measure in evaluating operating performance. We define EBITDA as net income before (