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- **Strategic Focus**: Maintained as independent public company despite board changes
- **Revenue Decline**: 23% YoY drop to $90.8M
- **Margin Pressure**: 17.7% gross margin (19.6% adjusted)
- **Operational Shift**: 58 active communities vs. 46 at year start
- **Liquidity Strength**: $83.1M available
- **Cost Control**: 16.5% SG&A as % of revenue

**【Management Opening Remarks】**
- Erin McGinnis provided standard legal disclaimers regarding forward-looking statements and noted the availability of GAAP/non-GAAP reconciliations on the company’s website.

**【CEO Summary Section】**
- **Strategic Governance Update**: A special board committee evaluated strategic alternatives and concluded continuing as an independent public company is the best path forward. Several board members will resign, with plans to recruit new directors.
- **Market Performance**: Q3 showed uneven demand but improving trends:
  - September was the strongest order month of the year
  - Weekly traffic increased to 350-400 visits vs. 200/month in H1
  - Active communities expanded to 58 (from 46 at year start)
- **Financial Highlights**:
  - Reported home sales gross margin: 17.7% (19.6% adjusted)
  - Cost-saving initiatives underway

**【CFO Financial Commentary】**
- **Q3 2025 Results**:
  - Net loss: $31.3M (includes $27.2M derivative liability loss)
  - Revenue: $90.8M (down 23% YoY)
  - Home closings: 262 units
  - Average sales price: $346K (8.1% increase)
- **Key Metrics**:
  - Backlog: 264 homes ($94.3M value)
  - Gross margin: 17.7% (19.6% adjusted)
  - SG&A: $17.6M (16.5% of revenue)
  - Liquidity: $83.1M in cash and credit availability
- **2025 YTD Performance**:
  - Revenue: $283.3M (14% YoY decline)
  - Gross profit: $50.1M (13% YoY decrease)
  - Active communities: 56 ( slight increase from 55 in Q3 2024)
  - Land control: 7,700 lots

**【Q&A Highlights】**
- Focus on cost management and community expansion to drive future growth despite macro challenges.

United Homes Group, Inc.(UHG)-20251106-2025 Q3 Earnings call transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

UHG

UHG fundamentals

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