Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 124

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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 gross margin(c)(d)19.6 %20.6 %(1.0)%(4.9)%EBITDA(d)$(26,605)$(1,634)$(24,971)1,528.2 %EBITDA margin(c)(d)(29.3)%(1.4)%(27.9)%1,992.9 %Adjusted EBITDA(d)$3,815 $8,978 $(5,163)(57.5)%Adjusted EBITDA margin(c)(d)4.2 %7.6 %(3.4)%(44.7)%

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(a)UHG had five and ten communities in closeout for the three months ended September 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 EBITDA and a reconciliation to the most directly comparable financial measures calculated and presented in accordance with GAAP, see “Non-GAAP Financial Measures.”

Revenues: Revenues for the three months ended September 30, 2025 were $90.8 million, a decrease of $27.8 million, from $118.6 million for the three months ended September 30, 2024. The decrease in revenues was primarily attributable to a decrease in home closings of 29.0%, partially offset by an increase in average sales price (“ASP”) of production-built homes of 8.0%. The decline in the number of homes closed as compared to the three months ended September 30, 2024 was primarily due to decreases of 31.5% in the GSH South Carolina segment, partially offset by an increase in closings of 75.0% in the Rosewood reporting segment.

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The following table provides a summary of the Company’s revenues, home closings, and ASP in each of the reportable segments (revenues in thousands):

Three Months Ended September 30, 20252024Period over period changeRevenuesClosingsASP1RevenuesClosingsASP1RevenuesClosingsASP1GSH South Carolina$