Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 144

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 144
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 six months ended June 30, 2025. When factoring in these build to rent unit closings, total ASP increased 6.9% compared to the prior year period. The decline in the number of homes closed as compared to the six months ended June 30, 2024 reflected a decrease of 18.2% in the GSH South Carolina segment, partially offset by an increase of 31.8% and 100.0% in the Rosewood reporting segment and Other segment related to the Raleigh market, respectively.

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

Six Months Ended June 30,20252024Period over period changeRevenuesClosingsASP1RevenuesClosingsASP1RevenuesClosingsASP1GSH South Carolina$162,957 502 $324,788 $187,965 614 $319,179 (13.3)%(18.2)%1.8 %Rosewood18,459 29 650,321 14,189 22 644,524 30.1 %31.8 %0.9 %Other211,091 24 462,125 8,104 12 667,000 36.9 %100.0 %(30.7)%Total$192,507 555 $347,231 $210,258 648 $337,994 (8.4)%(14.4)%2.7 %

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1 Average sales price of homes closed, excluding the impact of percentage of completion revenues and build to rent revenues.

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

Cost of Sales and Gross Profit: Cost of sales for the six months ended June 30, 2025 was $158.5 million, a decrease of $16.1 million, or 9.2%, from $174.6 million for the six months ended June 30, 2024. The decrease in Cost of sales was largely attributable to a decrease in home closings of 14.4% compared to the same period in 2024.

Gross profit for the six months ended June 30, 2025 was $34.0 million, a decrease of $1.6 million, or 4.8%, from $35.7 million for the six