Company: LGIH
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001580670-25-000076
Chunk: 133

Company: LGI Homes, Inc.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 2
Chunk 133
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 communities. At September 30, 2024, we had 138 active communities, including 18 Terrata Homes communities.

For additional discussion regarding our business and operations, see Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations in Part II of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024. For additional discussion regarding risks associated with our business and operations, see Item 1A. Risk Factors in Part I of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

Recent Developments 

Impact of October 2025 U.S. Government Shutdown

During October 2025, the U.S. federal government experienced a partial shutdown that affected several agencies and regulatory functions. While LGI Homes’ core operations continued uninterrupted, we have identified certain areas where the shutdown may have implications for our business and financial reporting:

Government-Backed Mortgage Programs: LGI Homes serves a significant number of entry-level and first-time homebuyers who utilize federally backed mortgage programs, including FHA and VA loans. During the shutdown, we observed delays in loan processing and approvals, which may impact the timing of certain home closings and backlog conversion in future periods.  In addition to delays in FHA and VA loan processing, the government shutdown has impacted USDA loan 

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programs, which are a critical financing option for many of our entry-level buyers in rural and suburban markets.  The disruption in USDA loan approvals may result in delayed closings and increased cancellations. 

Economic Data Availability: The shutdown disrupted the release of key economic indicators, including employment and inflation data, which are typically used to inform our market outlook and strategic planning. As a result, our forward-looking statements and guidance may reflect increased uncertainty.

Affordable Housing and Development Approvals: For communities involving federal funding or oversight, including certain affordable housing initiatives, we may experience delays in approvals and contract processing. While these delays were not material to our results for the third quarter of 2025, extended disruptions could affect future development timelines and revenue recognition.

We continue to monitor the situation closely and will provide updates in future filings should the shutdown or its effects materially impact our operations, financial condition, or results of operations.

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Key Results 

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

•Home sales revenues