Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 143

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 143
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1 %0.9 %8.1 %Backlog202 248 (46)(18.5)%Gross profit$34,047 $35,672 $(1,625)(4.6)%Gross margin(c)17.7 %17.0 %0.7 %4.1 %Adjusted gross profit(d)$38,801 $43,459 $(4,658)(10.7)%Adjusted gross margin(c)20.2 %20.7 %(0.5)%(2.4)%EBITDA(d)$19,327 $64,493 $(45,166)(70.0)%EBITDA margin(c)10.0 %30.7 %(20.7)%(67.4)%Adjusted EBITDA(d)$10,110 $14,944 $(4,834)(32.3)%Adjusted EBITDA margin(c)5.3 %7.1 %(1.8)%(25.4)%

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(a)UHG had seven and eight communities in closeout for the six months ended June 30, 2025 and 2024, respectively. 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.

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(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 “ UHG’s Management’s Discussion and Analysis of Financial Condition and Result of Operations—Non-GAAP Financial Measures.”

Revenues: Revenues for the six months ended June 30, 2025 were $192.5 million, a decrease of $17.8 million, or 8.5%, from $210.3 million for the six months ended June 30, 2024. The decrease in revenues was primarily attributable to the decrease in production-built home closings, partially offset by an increase in average sales price of production-built homes. Additionally, for the six months ended June 30, 2024 closings included 60 build to rent units with significantly lower ASPs, compared to no build to rent closings for the