Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 58

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 674,813 6,085 8 798,571 77.4 %100.0 %(15.5)%Other23,785 9 420,556 5,128 8 641,000 (26.2)%12.5 %(34.4)%Total$105,506 303 $349,265 $109,420 337 $340,803 (3.6)%(10.1)%2.5 %

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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 three months ended June 30, 2025 was $85.6 million, a decrease of $4.2 million, or 4.7%, from $89.8 million for the three months ended June 30, 2024. The decrease in Cost of sales was largely attributable to a decrease in home closings of 10.1% compared to the same period in 2024.

Gross profit for the three months ended June 30, 2025 was $19.9 million, an increase of $0.3 million, or 1.5%, from $19.6 million for the three months ended June 30, 2024. Gross margin for the three months ended June 30, 2025 was 18.9%, an increase of 1.0%, as compared 17.9% for the three months ended June 30, 2024. Gross margins improved in the second quarter of 2025, driven by closing a large number of homes featuring redesigned floor plans, direct construction cost savings as a result of the rebid initiative, and less non-recurring expenses compared to the same quarter in 2024.

Adjusted gross profit: Adjusted gross profit for the three months ended June 30, 2025 was $22.4 million, a decrease of $0.4 million, or 1.8%, as compared to $22.8 million for the three months ended June 30, 2024. Adjusted gross margin for the three months ended June 30, 2025 was 21.3%, an increase of 0.4%, as compared to 20.9% for the three months ended June 30, 2024. The increase