Revenue: As of FY2025 Q1, the actual value is USD 87 M.

EPS: As of FY2025 Q1, the actual value is USD 0.31.

EBIT: As of FY2025 Q1, the actual value is USD 21.39 M.

Segment Revenue

• Revenue for the first quarter of 2025 was $87.0 million, a decrease of 14% compared to $100.8 million in the first quarter of 2024.

Operational Metrics

• Home closings were 252, a decrease of 19% year over year compared to 311 in Q1 2024.
• Net new orders were 296, a decrease of 23% year over year compared to 384 in Q1 2024.
• Gross profit percentage was 16.2% in Q1 2025 compared to 16.0% in Q1 2024.
• Adjusted gross profit percentage was 18.8% in Q1 2025 compared to 20.4% in Q1 2024.
• Net income for Q1 2025 was $18.2 million, compared to $24.9 million in Q1 2024.

Cash Flow

• Available liquidity as of March 31, 2025, was $86.9 million, comprised of $25.0 million of cash and $61.9 million of unused committed capacity under the credit facility.

Unique Metrics

• Average sale price of production-built homes increased to approximately $345,000 compared to $335,000 in Q1 2024.

Outlook / Guidance

• The company expects to generate a vast majority of direct cost reduction savings in the second half of the year as they run through cost of sales.
• Gross margins increased 400 basis points between January and March, with newly refreshed plans achieving average gross margins of approximately 24%.
• The direct cost reduction initiative is actively underway, with over $3.5 million of direct construction cost savings identified this year.