Company: LGIH
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001580670-25-000058
Chunk: 171

Company: LGI Homes, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part II, Item 7
Chunk 171
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 of home sales revenues decreased to 22.9% from 25.0%. 

•Adjusted gross margin (non-GAAP) as a percentage of home sales revenues decreased to 25.5% from 27.0%. 

•Net income before income taxes decreased 45.3% to $42.0 million from $76.9 million.

•Net income decreased 46.2% to $31.5 million from $58.6 million.

•EBITDA (non-GAAP) as a percentage of home sales revenues decreased to 11.4% from 14.7%.

For reconciliations of the non-GAAP financial measures of adjusted gross margin and EBITDA to the most directly comparable GAAP financial measures, please see “—Non-GAAP Measures.”

Key financial results as of and for the six months ended June 30, 2025, as compared to the six months ended June 30, 2024, were as follows:

•Home sales revenues decreased 16.0% to $834.9 million from $993.3 million.

•Homes closed decreased 15.3% to 2,319 homes from 2,738 homes.

•Average sales price per home closed decreased 0.8% to $360,028 from $362,801. 

•Gross margin as a percentage of home sales revenues decreased to 22.1% from 24.4%. 

•Adjusted gross margin (non-GAAP) as a percentage of home sales revenues decreased to 24.7% from 26.3%. 

•Net income before income taxes decreased 52.2% to $47.8 million from $100.0 million.

•Net income decreased 53.0% to $35.5 million from $75.6 million.

•EBITDA (non-GAAP) as a percentage of home sales revenues decreased to 8.4% from 11.9%.

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For reconciliations of the non-GAAP financial measures of adjusted gross margin and EBITDA to the most directly comparable GAAP financial measures, please see “—Non-GAAP Measures.”

We owned and controlled 64,756 lots at June 30, 2025 as compared to 67,792 lots at March 31, 2025 and 70,899 lots at December 31, 2024.

Results of Operations

The following table sets forth our results of operations for the three and six months ended June