Company: UHG
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001830188-25-000036
Chunk: 97

Company: United Homes Group, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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201 units, a decrease of 61 units, or 23.3%, from 262 units for the three months ended March 31, 2024. The following table provides a summary of the Company’s backlog 

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inventory, backlog value, and average sales price of backlog inventory in each of the reportable segments (backlog value in thousands):

As of March 31, 2025As of March 31, 2024Period over period changeBacklog inventoryBacklog value1Backlog ASP2Backlog inventoryBacklog value1Backlog ASP2Backlog inventoryBacklog value1Backlog ASP2GSH South Carolina181 $62,698 $346,398 249 $75,575 $303,514 (27.3)%(17.0)%14.1 %Rosewood14 10,027 716,214 10 5,978 597,800 40.0 %67.7 %19.8 %Other36 2,585 430,833 3 1,909 636,333 100.0 %35.4 %(32.3)%Total201 $75,310 $374,677 262 $83,462 $318,557 (23.3)%(9.8)%17.6 %___________________

1 Backlog value is calculated as the total contract value of homes in backlog.

2 ASP of backlog is calculated as backlog value divided by backlog inventory.

3 Other consists of UHG’s homebuilding operations in Raleigh, NC.

Non-GAAP Financial Measures

Adjusted Gross Profit

Adjusted gross profit is a non-GAAP financial measure used by management of the Company as a supplemental measure in evaluating operating performance. The Company defines adjusted gross profit as gross profit excluding the effects of capitalized interest expensed in cost of sales, amortization included in homebuilding cost of sales, abandoned project costs, non-recurring remediation costs, and severance expense in cost of sales. The Company’s management believes this information is meaningful because it separates the impact that capitalized interest and non-recurring costs directly expensed in cost of sales have on gross profit to provide a more specific measurement of the Company’s gross profits. However, because adjusted gross profit information excludes certain balances expensed in cost of sales, which have real economic effects and could impact the Company’s results of operations, the utility of adjusted gross profit information as a measure of the Company’s operating performance may