Financial Data and Key Metrics Changes - For Q3 2025, the company reported a net loss of $31.3 million, which includes a loss from the change in fair value of derivative liabilities of $27.2 million [8] - Revenue for Q3 2025 was $90.8 million, a decrease of $27.8 million from $118.6 million in Q3 2024 [8] - For the nine months ending September 30, 2025, revenue was $283.3 million, compared to $328.9 million for the same period in 2024 [9] - Gross profit for Q3 2025 was $16 million, down from $22.4 million in the prior year period [10] - Selling, general, and administrative expenses for Q3 were $17.6 million, with adjusted SG&A totaling $15 million, or 16.5% of revenue [11] Business Line Data and Key Metrics Changes - Home closings for Q3 2025 totaled 262 homes, down from 369 homes in the prior year [9] - The average sales price for production-built homes during the quarter was approximately $346,000, an 8.1% increase compared to $320,000 in Q3 2024 [9] - Net new orders for Q3 were 324 homes, down from 341 homes in the prior year period [10] Market Data and Key Metrics Changes - The company experienced uneven demand in Q3 due to elevated inventory levels and affordability pressures [5] - Traffic improved significantly, averaging between 350-400 weekly visits during Q3, compared to around 200 per week in the first half of the year [5] Company Strategy and Development Direction - The board formed a special committee to review strategic alternatives, concluding that remaining an independent public company is the best path forward [4] - The company is focused on improving operations and profitability through key initiatives and cost savings [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged near-term market challenges but expressed confidence in housing demand fundamentals, including the need for new construction and favorable demographics [7] - The company noted that September was the best order month year-to-date, indicating a potential rebound [6] Other Important Information - As of September 30, 2025, the company controlled approximately 7,700 lots, positioning it for future growth [12] - The company had approximately $83.1 million of liquidity in cash and credit facility availability as of Q3 [12] Q&A Session Summary - No specific questions or answers were provided in the content regarding the Q&A session
United Homes (UHG) - 2025 Q3 - Earnings Call Transcript