Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 164

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 2
Chunk 164
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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, 2024. Gross margin for the nine months ended September 30, 2025 was consistent with the relative prior period at 17.7%, which was impacted by higher discounting, offset by a reduction in direct costs. 

Adjusted Gross Profit: Adjusted gross profit for the nine months ended September 30, 2025 was $56.6 million, a decrease of $11.3 million, as compared to $67.9 million for the nine months ended September 30, 2024. Adjusted gross margin for the nine months ended September 30, 2025 was 20.0%, a decrease of 0.7%, as compared to 20.7% for the nine months ended September 30, 2024. Adjusted gross margin declined, primarily due to increased discounting, partially offset by reduced direct construction costs. Adjusted gross profit is a non-GAAP financial measure. For the definition of adjusted gross profit and a reconciliation to UHG