United Homes Q1 net loss $204.5M from $207.1M non-cash earn-out charge; adj EBITDA $8.5M

United Homes Group, Inc.

2023-Q1 EPS reported -$5.44 revenue$94,826,702

Net loss $204.5M ($5.44/sh) includes $207.1M unrealized loss on earn-out; vs net income $17M in Q1 2022.
Homebuilding revenue $94.8M, down from $108.4M; 328 closed homes vs 414; ASP $314k vs $272k (+15.5%).
Adjusted EBITDA $8.5M vs $19.4M in Q1 2022; homebuilding adj gross margin 20.2% vs 26.0%.
Backlog 320 homes valued $103.3M; net new orders 389 in Q1, 128 in April; 52 active communities.
Total liquidity $151.7M ($110.9M cash + $40.8M undrawn credit); shares outstanding 47.6M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

United Homes Group, Inc. reported first quarter ended March 31, 2023 results: revenue $94.8 million, net income Net loss attributable to common stockholders was $204.5 million, or $(5.44) per diluted share, EPS $(5.44) per diluted share.

Period: first quarter ended March 31, 2023
Revenue: $94.8 million
Net income: Net loss attributable to common stockholders was $204.5 million, or $(5.44) per diluted share
EPS: $(5.44) per diluted share
Result: reported results

Exact text from the filing

homebuilder with a “land-light” operating model ● Average sales price (ASP) of production-built homes increased to $314k from $272k in Q1 2022 ● 328 closed homes resulted in $94.8 million of revenues ● Backlog value was $103.3 million as of March 31, 2023 ● 389 net new home orders during the first quarter 2023, 128 net new home orders during April 2023 ● Active

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Source: SEC EDGAR

accession 0001104659-23-060940

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