Landsea Homes - CW23 | 8-K: FY2025 Q1 Revenue: USD 310.81 M

Revenue: As of FY2025 Q1, the actual value is USD 310.81 M.

EPS: As of FY2025 Q1, the actual value is USD -0.2.

EBIT: As of FY2025 Q1, the actual value is USD 6.166 M.

Segment Revenue

• Home sales revenue increased by 2.3% to $299.4 million.
• Total revenue for the first quarter was $310.8 million, up 6% compared to the first quarter of 2024.

Operational Metrics

• The company reported a pretax loss of $9.9 million and a net loss of $7.1 million, or $0.20 loss per share.
• Adjusted net loss was $1.7 million, or $0.05 loss per share.
• Gross margin was 13.0%, with an adjusted gross margin of 20.0%.
• EBITDA was $6.2 million, compared to $12.6 million in the prior year period.
• Adjusted EBITDA was $13.5 million, compared to $17.0 million in the prior year period.

Cash Flow

• Total liquidity as of March 31, 2025, was $256.3 million, consisting of cash and cash equivalents, cash held in escrow, and availability under the company’s unsecured revolving credit facility.

Unique Metrics

• New home deliveries increased by 27.3% to 643 homes.
• Net new home orders increased by 11.1% to 679 homes.
• Total homes in backlog were 426 homes with a dollar value of $230.8 million.

Outlook / Guidance

• The company continues to pursue an asset-light strategy, controlling 55% of its lots at the end of the first quarter of 2025.
• Forward-looking statements indicate expectations for future financial performance and business strategies, with caution regarding numerous assumptions, risks, and uncertainties.