--- title: "UNITED HOMES GROUP INC C/WTS 30/03/2028 (TO PUR COM) | 8-K: FY2025 Q4 Revenue: USD 123.39 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/278881805.md" datetime: "2026-03-12T12:19:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278881805.md) - [en](https://longbridge.com/en/news/278881805.md) - [zh-HK](https://longbridge.com/zh-HK/news/278881805.md) --- # UNITED HOMES GROUP INC C/WTS 30/03/2028 (TO PUR COM) | 8-K: FY2025 Q4 Revenue: USD 123.39 M Revenue: As of FY2025 Q4, the actual value is USD 123.39 M. EPS: As of FY2025 Q4, the actual value is USD 0.05. EBIT: As of FY2025 Q4, the actual value is USD 24.52 M. ### Fourth Quarter 2025 Financial and Operational Metrics #### Revenue - Revenue, net of sales discounts, was $123.391 million, a decrease of 8% year over year compared to $134.812 million in Q4 2024. #### Net Income - Net income was $3.204 million, compared to $0.667 million in Q4 2024. #### Gross Margin - Gross margin was 17.5%, an increase of 130 basis points year over year compared to 16.2% in Q4 2024. - Adjusted gross margin was 19.1%, compared to 18.1% in Q4 2024. #### Operating Profit - Net income from operations was $1.625 million, compared to $2.433 million in Q4 2024. #### Operating Costs - Cost of sales was $101.749 million, compared to $113.037 million in Q4 2024. - Selling, general and administrative expenses (SG&A) as a percentage of revenues was 16.2%. - Adjusted SG&A for the fourth quarter 2025 was 13.2% of revenues. #### Adjusted EBITDA - Adjusted EBITDA was $8.618 million, compared to $7.714 million in Q4 2024. #### Other Key Financials - Other expense, net, was -$2.017 million, compared to -$3.228 million in Q4 2024. - Equity in net earnings from investment in joint venture was $0.342 million, compared to $0.453 million in Q4 2024. - Goodwill impairment was -$1.147 million. - Change in fair value of derivative liabilities was $22.110 million, compared to $38.003 million in Q4 2024. - Income tax expense (benefit) was $17.709 million, compared to -$8.648 million in Q4 2024. #### Operational Metrics - Home closings were 375, a decrease of 9% year over year compared to 414 home closings in Q4 2024. - Net new orders were 303, a decrease of 14% year over year compared to 351 net new orders in Q4 2024. - Average sale price (ASP) of production-built homes increased to approximately $329,000, compared to $324,000 in Q4 2024. - Lot pipeline as of December 31, 2025, consisted of approximately 7,200 lots owned or controlled. - Available liquidity as of December 31, 2025, was $80.8 million, comprised of $24.4 million of cash and $56.4 million of unused committed capacity under the credit facility. - Total backlog inventory was 192 units, an increase of 22.3% from 157 units in Q4 2024. - Total backlog value was $68.1 million, an increase of 16.8% from $58.3 million in Q4 2024. ### Fiscal Year Ended December 31, 2025 Financial and Operational Metrics #### Revenue - Revenue, net of sales discounts, was $406.692 million, a decrease of 12% year over year compared to $463.714 million in 2024. #### Net Income/Loss - Net loss was -$16.252 million, compared to net income of $46.906 million in 2024. #### Gross Margin - Gross margin was 17.6%, an increase of 40 basis points year over year compared to 17.2% in 2024. - Adjusted gross margin was 19.7%, compared to 19.9% in 2024. #### Operating Profit/Loss - Net loss from operations was -$0.029 million, compared to net income from operations of $5.130 million in 2024. #### Operating Costs - Cost of sales was $334.955 million, compared to $383.884 million in 2024. - SG&A as a percentage of revenues was 17.6%. - Adjusted SG&A for the fiscal year 2025 was 15.0% of revenues. #### Adjusted EBITDA - Adjusted EBITDA was $22.543 million, compared to $31.636 million in 2024. #### Other Key Financials - Other expense, net, was -$9.326 million, compared to -$12.483 million in 2024. - Equity in net earnings from investment in joint venture was $1.057 million, compared to $1.529 million in 2024. - Goodwill impairment was -$1.147 million. - Change in fair value of derivative liabilities was $9.940 million, compared to $88.653 million in 2024. - Income tax expense (benefit) was $16.747 million, compared to -$9.719 million in 2024. #### Operational Metrics - Home closings were 1,192, a decrease of 17% year over year compared to 1,431 home closings in 2024. - Net new orders were 1,227, a decrease of 12% year over year compared to 1,399 net new orders in 2024. - ASP of production-built homes increased to approximately $341,000 in 2025, compared to $329,000 in 2024. ### Outlook / Guidance - UNITED HOMES GROUP, INC. entered into a Merger Agreement with Stanley Martin Homes, LLC on February 22, 2026, and will become a wholly owned subsidiary of Stanley Martin Homes, LLC. - Each share of the Company’s Class A and Class B common stock will convert into the right to receive $1.18 in cash per share. - The merger is expected to be completed in the second quarter of 2026, after which the Company will become privately held and its common stock and warrants will be delisted from Nasdaq. ### Related Stocks - [UHGWW.US](https://longbridge.com/en/quote/UHGWW.US.md) ## Related News & Research - [Apollo Clarifies Legal Status of Recent 8-K Disclosure](https://longbridge.com/en/news/286564452.md) - [LOWE'S REPORTS FIRST QUARTER 2026 SALES AND EARNINGS RESULTS | LOW Stock News](https://longbridge.com/en/news/287043063.md) - [XP Inc. 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