Financial Data and Key Metrics Changes - For Q1 2025, the company reported net income of 18.2million,whichincludesafairvalueadjustmentof21.2 million related to contingent earn-out liability [18] - Revenue for Q1 2025 was 87million,adecreaseof13.8 million or 13.7% from 100.8millioninQ12024,primarilyduetolowerhomeclosings[18][19]−Homeclosingstotaled252homes,downfrom311homesintheprioryearperiod[19]−Theaveragesalespriceforproductionbuilthomeswasapproximately345,000, a 2.9% increase compared to 335,000inQ12024[19]−GrossprofitforQ12025was14.1 million, down 2millionor12.416.1 million in the prior year [20] - Gross margin improved slightly to 16.2% from 16% [20] Business Line Data and Key Metrics Changes - The company delivered 252 homes in Q1 2025, with an average sales price of 345,000,generatinghomesalesrevenueof87 million [4] - Net new orders for Q1 2025 were 296 homes, down from 384 homes in the prior year period [19] - The backlog as of March 31, 2025, stood at 201 homes, representing approximately 75.3millioninvalue[20]MarketDataandKeyMetricsChanges−Thecompanynotedthataffordabilitycontinuestobeanissueforbuyers,necessitatingtheuseoffinancingincentives[13]−Aprilorderswereup616.2 million, with adjusted SG&A totaling $14.2 million or 16.3% of revenue [21] Summary of Q&A Session - There were no questions during the Q&A session, and the call concluded with management expressing optimism about the future of the company [24][25]
