Core Viewpoint - Lido Merger Sub, Inc. has initiated a cash tender offer to purchase all outstanding 8.875% Senior Notes due 2029 of Landsea Homes Corporation, contingent upon the completion of the merger agreement dated May 12, 2025 [1][9]. Tender Offer and Consent Solicitation - The Tender Offer will expire on June 11, 2025, unless extended or terminated earlier [3]. - Holders who tender their Notes by May 27, 2025, will receive $1,040 per $1,000 in principal amount, which includes a $50 early participation premium [3][4]. - After the Early Tender Date, holders will receive $990 per $1,000 in principal amount [3][4]. - The total amount for the Tender Offer is $300 million for the 8.875% Senior Notes due 2029 [4]. Purpose of Consent Solicitation - The Consent Solicitation aims to eliminate the requirement for a "Change of Control Offer" and to remove restrictive covenants and certain events of default in the indenture governing the Notes [7]. - Holders must tender their Notes to deliver their consents, and vice versa [8]. Conditions for Completion - The consummation of the Tender Offer is subject to certain conditions, including the completion of the merger and a financing condition [9]. - The merger is expected to close early in the third quarter of 2025, with the possibility of extending the Expiration Date until the merger closes [9]. - If requisite consents are not obtained, a "Change of Control Offer" will be initiated to repurchase the Notes [9].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-38545 (Address of Principal Executive Offices) (Zip Code) (949) 345-8080 (Registrant's Telephone Number, Including Area Code) Securities registered pursuant to Section 12(b) ...

Financial Performance - The Company reported a pretax loss of $9.9 million and a net loss of $7.1 million, resulting in a loss per share of $0.20 for Q1 2025 [2]. - Net loss attributable to Landsea Homes Corporation was $7,254,000 in Q1 2025, compared to a net income of $190,000 in Q1 2024 [33]. - Adjusted net loss attributable to Landsea Homes Corporation was $1,733,000 for Q1 2025, a decrease from an adjusted net income of $3,505,000 in Q1 2024 [45]. - Basic earnings per share for Q1 2025 was $(0.20), a decline from $0.01 in Q1 2024 [45]. - Diluted earnings per share for Q1 2025 was also $(0.20), compared to $0.01 in Q1 2024 [45]. Revenue and Sales - Total revenue for the first quarter was $310.8 million, reflecting a 6% increase compared to Q1 2024, driven by a 27% increase in homes closed [3]. - Home sales revenue increased to $299,373,000 in Q1 2025, up 2.5% from $292,592,000 in Q1 2024 [34]. - The gross margin for home sales decreased to 13.0% in Q1 2025 from 14.9% in Q1 2024, reflecting a gross margin of $38,858,000 compared to $43,695,000 [40]. Home Deliveries and Orders - New homes delivered increased by 27.3% to 643 homes, with an average sales price of $466,000, down from $579,000 in the prior year [4]. - Net new home orders rose 11.1% to 679 homes, valued at $317.8 million, with an average sales price of $468,000 [5]. - Home deliveries in Q1 2025 totaled 643 homes, a 27% increase from 505 homes delivered in Q1 2024 [34]. - Monthly absorption rate for new home orders was 3.0 in Q1 2025, down from 3.3 in Q1 2024, reflecting a decrease of 9% [35]. Backlog and Inventory - Total homes in backlog were 426 homes, valued at $230.8 million, with an average sales price of $542,000 as of March 31, 2025 [6]. - The backlog of homes as of March 31, 2025, was valued at $230,835,000, a 32% decrease from $379,974,000 in the previous year [37]. Liquidity and Debt - The Company had total liquidity of $256.3 million, including cash and cash equivalents of $36.7 million and $204.0 million available under its credit facility [12]. - The ratio of debt to capital was 52.1% as of March 31, 2025, with net debt to total capital at 48.3% [13]. - The ratio of debt to capital increased to 52.1% as of March 31, 2025, up from 51.8% at the end of 2024 [49]. - The ratio of net debt to total capital was 48.3% as of March 31, 2025, compared to 47.7% at the end of 2024 [49]. - Total notes and other debts payable, net, stood at $727,507,000 as of March 31, 2025, slightly up from $725,354,000 at the end of 2024 [49]. - Cash and cash equivalents decreased to $36,740,000 as of March 31, 2025, down from $53,322,000 at the end of 2024 [49]. - Cash held in escrow increased to $15,563,000 as of March 31, 2025, compared to $3,921,000 at the end of 2024 [49]. Operational Metrics - Adjusted EBITDA for the quarter was $13.5 million, compared to $17.0 million in the prior year period [11]. - Adjusted EBITDA for Q1 2025 was $13,521,000, down from $17,034,000 in Q1 2024, indicating a decrease of 20.8% [42]. - The average selling price (ASP) of homes sold in Q1 2025 was $466,000, a decrease of 20% from $579,000 in Q1 2024 [34]. - The number of lots owned or controlled increased by 2% to 10,516 as of March 31, 2025, compared to 10,349 in the previous year [38]. - The Company continues to pursue an asset-light strategy, controlling 55% of its lots as of the end of Q1 2025 [6].

Core Insights - Landsea Homes Corporation reported a pretax loss of $9.9 million and a net loss of $7.1 million for Q1 2025, compared to a net income of $0.7 million in the same period last year [1][7] - Total revenue increased by 6% year-over-year to $310.8 million, driven by a 27% increase in homes closed, despite a 20% decrease in average selling price [2][12] - The company’s gross margin for home sales was 13.0%, down from 14.9% in the prior year, while the adjusted gross margin improved to 20.0% from 19.4% [6][38] Financial Performance - The adjusted net loss for Q1 2025 was $1.7 million, or $0.05 loss per share, compared to an adjusted net income of $3.5 million, or $0.10 earnings per share in Q1 2024 [1][7] - EBITDA for the quarter was $6.2 million, down from $12.6 million in the prior year, while adjusted EBITDA was $13.5 million compared to $17.0 million [8][41] Sales and Orders - New home deliveries increased by 27.3% to 643 homes, with an average sales price of $466,000, down from $579,000 in Q1 2024 [3][32] - Net new home orders rose by 11.1% to 679 homes, valued at $317.8 million, with an average sales price of $468,000 [4][33] Backlog and Inventory - The total backlog consisted of 426 homes valued at $230.8 million, down from 623 homes valued at $380.0 million a year earlier [5][36] - The company controlled 10,516 lots as of March 31, 2025, an increase from 10,349 lots a year prior, with 55% of lots controlled and 45% owned [5][37] Balance Sheet - As of March 31, 2025, total liquidity was $256.3 million, with total debt at $727.5 million, slightly up from $725.4 million at the end of 2024 [9][50] - The debt to capital ratio was 52.1%, while the net debt to total capital ratio was 48.3% [10][46]

Landsea Homes Shareholders to Receive $11.30 Per Share in Cash, Representing a Premium of Approximately 61% to the Closing Share Price on May 12, 2025 Complementary, Diversified Footprint Positions Combined Company to Accelerate Continued Growth Across the Country IRVINE, Calif. and DALLAS, May 12, 2025 (GLOBE NEWSWIRE) -- New Home Co. (“New Home”) and Landsea Homes Corporation (Nasdaq: LSEA) (“Landsea Homes”) today announced that they have entered into a definitive agreement under which New Home will acqu ...

Core Viewpoint - Landsea Homes Corporation plans to release its first quarter 2025 financial results on May 12, 2025, and will host a conference call on May 13, 2025, to discuss these results [1]. Company Overview - Landsea Homes Corporation is a publicly traded residential homebuilder based in Dallas, Texas, focusing on designing and building high-quality homes and sustainable master-planned communities in desirable markets across the United States [3]. - The company has developed projects in various states, including New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas, and California [3]. - Landsea Homes was recognized as the Green Home Builder 2023 Builder of the Year and previously won the 2022 Builder of the Year award from BUILDER magazine, highlighting its significant transformation [3]. Conference Call Details - The conference call is scheduled for May 13, 2025, at 10:00 AM Eastern Time, with toll-free and international dial-in numbers provided for participants [2]. - The call will also be available for live broadcast and replay on the company's investor relations website [2].

Investors in Landsea Homes Corporation (LSEA) need to pay close attention to the stock based on moves in the options market lately. That is because the Jun 20, 2025 $75.00 Call had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It c ...

Dollar-for-Dollar Donation-Matching in Partnership with HomeAid Landsea Homes Corporation (Nasdaq: LSEA) is a publicly traded residential homebuilder based in Dallas, Texas guided by integrity and excellence that designs and builds best-in-class, sustainable, High Performance Homes and master-planned communities in some of the nation's most desirable markets. The company has developed in New York, Boston, New Jersey, Arizona, Colorado, Florida, Texas and throughout California in Silicon Valley, Los Angeles, ...

Core Insights - Landsea Homes Corporation has appointed Stewart Parker as President of its Austin and Dallas-Fort Worth divisions, along with Brandon Dickinson and Shawn Jeffcoat as Vice Presidents of Operations and Construction respectively, enhancing its leadership team in Texas [1][2]. Leadership Appointments - Stewart Parker brings over 25 years of experience in homebuilding, having previously served as National Vice President of Homebuilding Operations for Homebound, where he significantly expanded operations and managed disaster relief projects [2]. - Brandon Dickinson, with a background in national purchasing and community planning, has held leadership roles at Homebound and Toll Brothers, focusing on procurement and community development [3]. - Shawn Jeffcoat has experience overseeing construction operations for thousands of homesites at Brookfield Homes, where he improved operational efficiency by 65% [4]. Market Presence - Landsea Homes entered the Texas market in 2021 and established its corporate headquarters in Dallas in 2023, following the acquisition of Antares Homes, and is currently active in 24 communities in the Dallas-Fort Worth and Austin areas [5]. Company Overview - Landsea Homes is a publicly traded residential homebuilder focused on sustainable and high-performance homes, with operations in several states including Texas, California, and Florida [6]. - The company has received multiple awards, including Builder of the Year by Green Home Builder in 2023 and the prestigious Builder of the Year award from BUILDER magazine in 2022 [7]. Innovative Practices - Landsea Homes is recognized for pioneering innovative practices in homebuilding, offering a range of residential options from single-family homes to master-planned communities, aimed at enhancing modern living [8]. - The company's High Performance Homes incorporate advanced home automation technology and sustainability features, promoting energy efficiency and healthier living environments [9].

Core Viewpoint - Landsea Homes Corporation is expanding its operations by closing on 78 homesites in the Moonlight master-planned community in Maricopa, Arizona, aiming to meet the demand for high-quality, energy-efficient homes in the area [1][2]. Company Overview - Landsea Homes Corporation is a publicly traded residential homebuilder based in Dallas, Texas, focused on designing and building sustainable, High Performance Homes and master-planned communities across desirable markets in the U.S. [8][9]. - The company has been recognized for its excellence, winning the Builder of the Year award in 2022 and 2023 [9]. Project Details - The Moonlight community will feature a total of 1,500 homes at full buildout, with Landsea Homes offering 78 one- and two-story homes ranging from 1,332 to 2,624 square feet [2][4]. - Sales for these homes are expected to launch in the summer, with pricing to be announced later [2]. Home Features - Homes in the Moonlight community will include High Performance Home features such as smart home automation technology integrated with the Apple Home™ environment, enhancing energy efficiency and comfort [3][12]. - Specific smart home features include Apple® HomePod mini™, wireless internet, smart door locks, thermostat control, and ecobee smart video doorbell [3]. Community Amenities - The Moonlight community will provide residents with amenities such as a pool, recreational parks, and access to the Ak-Chin Southern Dunes Golf Club, along with scenic hiking and biking trails [4][5]. - Residents will be part of the Maricopa Unified School District, which includes 11 schools serving grades Pre-K through 12 [4]. Location Benefits - Maricopa offers a small-town feel with a strong sense of community, local events, and easy access to Phoenix, providing ample job opportunities and entertainment options [6][7]. - The community has convenient access to Phoenix Sky Harbor International Airport via I-10 and State Route 347 [6].