Financial Data and Key Metrics Changes - The company recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, although this was partially offset by a 20% decline in average closing prices [4][16] - The gross margin before inventory impairments was reported at 13.5%, while the adjusted gross margin remained consistent at 20% [17] Business Line Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led delivery contributions with a 52% growth, while Texas contributed 20% of home deliveries and 16% of revenue [16] Market Data and Key Metrics Changes - ASPs (Average Selling Prices) were up year over year in Florida and Texas, while they declined slightly in Arizona [13] - The sales pace in Arizona was the highest at 3.8, followed by Colorado at 3.7 and Florida at 2.9 [13] - The company noted that current new home demand conditions are uneven, with consistent traffic levels offset by buyer hesitancy [13] Company Strategy and Development Direction - The company aims to return to a 50-50 split between spec and build-to-order closings over time, emphasizing a balanced approach to home sales [6] - A strategic shift towards presold homes is expected to enhance margin opportunities and reduce cash tied up in standing inventory [7] - The company is focused on product differentiation and maintaining desirable locations to attract customers and grow market share [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook for the housing industry, citing the need for additional housing supply and the desire for homeownership [11] - The company anticipates that incentive levels will remain elevated through 2025, fluctuating with the mortgage rate environment [19] - Management noted that while there is uncertainty in the near-term macro environment, they believe their competitive positioning will allow for growth [11] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [19] - The debt to total capital ratio was 52.1%, reflecting a 30 basis point increase from year-end [20] Summary of Q&A Session - The call did not open for questions due to a transaction announcement made prior to the call [22]

Financial Data and Key Metrics Changes - Landsea Homes recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, despite a 20% decline in average closing prices [4][16] - The gross margin before inventory impairments was reported at 13.5%, while the adjusted gross margin remained consistent at 20% [17] Business Line Data and Key Metrics Changes - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led the delivery contributions with a 52% growth in deliveries and a 53% growth in revenue [16] - ASPs were up year over year in Florida and Texas, while ASPs in Arizona declined slightly [13] Market Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The sales pace in Q1 was at the lower end of the targeted range of 3 to 4 sales per community per month, with Arizona posting the highest absorption pace at 3.8 [13] - The company experienced uneven new home demand conditions, with consistent traffic levels offset by buyer hesitancy [13] Company Strategy and Development Direction - The company aims to return to a 50-50 split between spec and build-to-order closings over time, emphasizing product differentiation to attract customers [6][7] - A strategic decision was made to sell through some spec home inventory to balance sales activity [6] - The focus on presales versus spec homes is expected to alleviate margin pressure and provide better visibility into future closings [15] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the long-term outlook for the housing industry, citing the need for additional housing supply [11] - Financing incentives are expected to remain elevated through 2025, with costs fluctuating with the mortgage rate environment [19] - The company believes that the homebuilding ecosystem self-corrects over time, and the industry's move towards a more land-light operating model may accelerate this correction [14] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [19] - The debt to total capital ratio was 52.1%, reflecting a 30 basis point increase from year-end [20] Summary of Q&A Session - The call did not open for questions due to a transaction announcement made prior to the call [22]

Financial Data and Key Metrics Changes - Landsea Homes recorded a net loss of $7.3 million in Q1 2025, translating to a net loss of $0.20 per diluted share [4] - Home sales revenue increased by 2% year over year, driven by a 27% increase in deliveries, although this was partially offset by a 20% decline in average closing prices [4][16] - The company reported an adjusted net loss of $1.73 million or $0.05 per share [19] Business Line Data and Key Metrics Changes - Net new orders increased by 11% year over year, with a sales pace of 3.0 homes per community per month [5] - The company delivered 643 homes in Q1 2025, which was near the midpoint of the guidance of 600 to 700 closings [12] - Florida led delivery contributions with a 52% growth in deliveries and a 53% increase in revenue [16] Market Data and Key Metrics Changes - ASPs (Average Selling Prices) were up year over year in Florida and Texas, while they declined slightly in Arizona [13] - The sales pace in Arizona was the highest at 3.8, followed by Colorado at 3.7 and Florida at 2.9 [13] - Discounts and incentives represented 9.6% of gross home sales revenue, impacting gross margins [18] Company Strategy and Development Direction - The company aims to balance spec sales and built-to-order homes, targeting a 50-50 split over time [6] - A strategic shift towards presold homes is expected to enhance margin opportunities and reduce cash tied up in inventory [7] - The focus on product differentiation and desirable locations is seen as a competitive advantage in the current market [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about long-term industry outlook due to the need for additional housing supply [11] - The current new home demand conditions were characterized as uneven, with consistent traffic levels offset by buyer hesitancy [13] - The company anticipates elevated incentive levels through 2025, fluctuating with the mortgage rate environment [20] Other Important Information - The company ended the quarter with $256 million in liquidity, including $52.3 million in cash and cash equivalents [20] - The debt to total capital ratio was reported at 52.1%, a 30 basis point increase from year-end [21] Q&A Session Summary - The call did not open for questions due to a transaction announcement [23]