Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 106

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 of derivative liabilities, gross margin of 18.9%, adjusted gross margin of 21.3%, and adjusted EBITDA margin of 6.9%, representing a decrease of $34.9 million, and percentage changes of an increase of 1.0%, an increase of 0.4%, and a decrease of 0.1%, respectively, from the three months ended June 30, 2024. 

UHG revenues decreased from approximately $210.3 million for the six months ended June 30, 2024 to $192.5 million for the six months ended June 30, 2025. For the six months ended June 30, 2025, UHG generated net income of 

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approximately $11.8 million, which included $15.0 million related to the change in fair value of derivative liabilities, gross margin of 17.7%, adjusted gross margin of 20.2%, and adjusted EBITDA margin of 5.3%, representing a decrease of $41.7 million, and percentage changes of an increase of 0.7%, a decrease of 0.5%, and a decrease of 1.8%, respectively, from the six months ended June 30, 2024. 

Adjusted gross profit, EBITDA, adjusted EBITDA, and EBITDA margin are not financial measures under generally accepted accounting principles in the United States of America (“GAAP”). See “Non-GAAP Financial Measures” for an explanation of how UHG computes these non-GAAP financial measures and for reconciliations to the most directly comparable GAAP financial measure.

Results of Operations 

Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024

The following table presents summary results of operations for the periods indicated (dollar amounts in thousands except average sales price):

Three Months Ended June 30,20252024Change ($)Change (%)Statements of OperationsRevenue, net of sales discounts$105,506 $109,420 $(3,914)(3.6)%Cost of sales85,587 89,842 (4,255)(4.7)%Selling, general and administrative expense18,016 19,614 (1,598)(8.2)%Other expense, net(2,617)(3,582)965 (26.9)%Equity in net earnings from investment in joint venture275 339 (64)(18.9)%