Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 107

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 107
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Change in fair value of derivative liabilities(6,171)32,055 (38,226)(119.3)%(Loss) income before taxes(6,610)28,776 (35,386)(122.9)%Income tax (benefit) expense(269)136 (405)(297.8)%Net (loss) income$(6,341)$28,640 $(34,981)(122.0)%Other Financial and Operating Data:Active communities at end of period(a)53 59 (6)(10.2)%Home closings303 337 (34)(10.1)%Average sales price of homes closed(b)$349,265 $340,803 $8,462 2.5 %Net new orders304 323 (19)(5.9)%Cancellation rate11.4 %12.7 %(1.3)%(10.2)%Backlog202 248 (46)(18.5)%Gross profit$19,919 $19,578 $341 1.5 %Gross margin(c)18.9 %17.9 %1.0 %5.6 %Adjusted gross profit(d)$22,436 $22,845 $(409)(1.8)%Adjusted gross margin(c)21.3 %20.9 %0.4 %1.9 %EBITDA(d)$(2,062)$34,571 $(36,633)(106.0)%EBITDA margin(c)(2.0)%31.6 %(33.6)%(106.3)%Adjusted EBITDA(d)$7,237 $7,660 $(423)(5.5)%Adjusted EBITDA margin(c)6.9 %7.0 %(0.1)%(1.4)%

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(a)UHG had seven and eight communities in closeout for the three 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.

(d)Adjusted gross profit, EBITDA and adjusted EBITDA are non-GAAP financial measures. For definitions of adjusted gross profit, EBITDA and adjusted EBIT