Here are the 10-Q quarterly reports from United Homes Group, Inc (UHG) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow UHG and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UHG filings page.
United Homes Group (UHG) reported a third‑quarter net loss as homebuilding activity cooled and non‑cash derivative remeasurements drove volatility. Revenue was $90.8 million for the quarter, down from $118.6 million a year ago, with gross profit of $16.0 million and SG&A of $17.6 million. A $27.2 million negative change in the fair value of derivative liabilities contributed to a net loss of $31.3 million (basic and diluted ($0.53)).
For the nine months, revenue was $283.3 million and the company recorded a net loss of $19.5 million. On the balance sheet, cash and cash equivalents were $25.6 million, inventories $174.6 million, and total assets $293.1 million. Debt included a $79.7 million syndicated line of credit and a $67.4 million term loan, net; the company amended both facilities in late September to adjust financial covenants and confirmed compliance as of September 30, 2025. The fair value of derivative liabilities totaled $51.2 million, including public and private warrant liabilities and an earnout liability.
As of November 4, 2025, UHG had 21,839,762 Class A and 36,973,876 Class B shares outstanding.
United Homes Group (UHG) Q2 2025 10-Q highlights
Revenue slipped 3.6% to $105.5 m, yet gross profit inched up 1.7% to $19.9 m as gross margin widened to 18.9% (vs 17.9%). SG&A fell 8.1% to $18.0 m, trimming the expense ratio to 17.1%. Operating income turned positive at $1.9 m (-$0.04 m LY) but a $6.2 m non-cash loss from re-valuing derivative liabilities and $2.6 m of other expense produced a net loss of $6.3 m (EPS -$0.11) versus Q2 2024 net income of $28.6 m (EPS $0.59).
Year-to-date (6 M)
- Revenue $192.5 m (-8.4%).
- Net income $11.8 m vs $53.6 m; diluted EPS $0.20 vs $0.93.
- Operating cash flow swung to +$2.8 m from -$19.1 m; free cash boosted cash & equivalents 61% to $36.5 m.
Balance sheet: Assets rose to $281.1 m; inventories $144.5 m (+3.7% YTD). Cash $36.5 m (+$13.9 m YTD). Syndicated revolver borrowings grew to $64.2 m (from $50.2 m) and the $67.3 m term loan remained unchanged; total liabilities stable at $198.9 m. Mark-to-market derivative liabilities fell to $24.0 m from $39.2 m, lifting stockholders’ equity 23% to $82.2 m.
Segment view: GSH South Carolina delivered 86% of quarterly sales and $5.0 m pre-tax profit; Rosewood and Other segments posted small losses. No guidance was issued.