Company: UHG
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001830188-25-000036
Chunk: 91

Company: United Homes Group, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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873 84,744 (11,871)(13.9)%Selling, general and administrative expense16,160 17,054 (894)(5.3)%Other expense, net(2,510)(1,963)(547)27.9 %Equity in net earnings from investment in joint venture222 318 (96)(30.2)%Change in fair value of derivative liabilities21,209 26,380 (5,171)(19.6)%Income before taxes16,889 23,775 (6,886)(29.0)%Income tax benefit(1,291)(1,163)(128)11.0 %Net income$18,180 $24,938 $(6,758)(26.9)%Other financial and operating data:Active communities at end of period(a)50 63 (13)(20.6)%Home closings252 311 (59)(19.0)%Average sales price of homes closed(b)$344,784 $335,057 $9,727 2.9 %Net new orders296 384 (88)(22.9)%Cancellation rate12.7 %9.6 %3.1 %32.3 %Backlog201 262 (61)(23.3)%Gross profit$14,128 $16,094 $(1,966)(12.4)%Gross profit %(c)16.2 %16.0 %0.2 %1.3 %Adjusted gross profit(d)$16,365 $20,614 $(4,249)(20.4)%Adjusted gross profit %(c)18.8 %20.4 %(1.6)%(7.8)%EBITDA(d)$21,389 $29,921 $(8,532)(28.5)%EBITDA margin %(c)24.6 %29.7 %(5.1)%(17.2)%Adjusted EBITDA(d)$2,873 $7,283 $(4,410)(60.6)%Adjusted EBITDA margin %(c)3.3 %7.2 %(3.9)%(54.2)%

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(a)UHG had nine and six communities in closeout for the three months ended March 31, 2025 and 2024. These communities are not included in