Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 130

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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.7)%Average sales price of homes closed(b)$346,810 $331,111 $15,699 4.7 %Net new orders924 1,048 (124)(11.8)%Cancellation rate12.8 %11.6 %1.2 %10.6 %Backlog264 220 44 20.0 %Gross profit$50,095 $58,055 $(7,960)(13.7)%Gross margin(c)17.7 %17.7 %— %— %Adjusted gross profit(d)$56,615 $67,940 $(11,325)(16.7)%Adjusted gross margin(c)(d)20.0 %20.7 %(0.7)%(3.4)%EBITDA(d)$(7,278)$62,859 $(70,137)(111.6)%EBITDA margin(c)(d)(2.6)%19.1 %(21.7)%(113.6)%Adjusted EBITDA(d)$13,925 $23,922 $(9,997)(41.8)%Adjusted EBITDA margin(c)(d)4.9 %7.3 %(2.4)%(32.9)%

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(a)UHG had five and ten communities in closeout for the nine months ended September 30, 2025 and 2024, respectively. These communities are not included in the count of “Active communities at end of period.”

(b)Average sales price of homes closed, excluding the impact of percentage of completion revenues and build-to-rent revenues.

(c)Calculated as a percentage of revenue.

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(d)Adjusted gross profit, EBITDA and adjusted EBITDA are non-GAAP financial measures. For definitions of adjusted gross profit, EBITDA and adjusted EBITDA and a reconciliation to the most directly comparable financial measures calculated and presented in accordance with GAAP, see “Non-GAAP Financial Measures.”

Revenues: Revenues for the nine months ended September 30, 2025 were $283.3 million, a decrease of $45.6 million, from $328.9 million for the nine months ended September 30, 2024. The decrease in revenues was primarily attributable to the decrease in production-built home closings, partially offset by an increase in average sales price of production-built homes. Additionally, for the