Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 131

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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 nine months ended September 30, 2024 closings included 60 build-to-rent units with significantly lower ASPs, compared to no build-to-rent closings for the nine months ended September 30, 2025.When factoring in these build-to-rent unit closings, total ASP increased 7.2% compared to the prior year period. The decline in the number of homes closed as compared to the nine months ended September 30, 2024 is isolated to the GSH South Carolina segment, which decreased 23.1%.

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

Nine Months Ended September 30,20252024Period over period changeRevenuesClosingsASP1RevenuesClosingsASP1RevenuesClosingsASP1GSH South Carolina$242,429 743 $326,183 $296,915 966 $314,876 (18.4)%(23.1)%3.6 %Rosewood26,907 43 634,690 19,890 30 663,310 35.3 %43.3 %(4.3)%Other213,965 31 450,484 12,097 21 571,286 15.4 %47.6 %(21.1)%Total$283,301 817 $346,810 $328,902 1,017 $331,111 (13.9)%(19.7)%4.7 %

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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 nine months ended September 30, 2025 was $233.2 million, a decrease of $37.6 million, from $270.8 million for the nine months ended September 30, 2024. The decrease in Cost of sales was largely attributable to a decrease in home closings of 19.7% compared to the same period in 2024.

Gross profit for the nine months ended September 30, 2025 was $50.1 million, a decrease of $8.0 million, from $58.1 million for the nine months ended September 30,