v3.22.1
Consolidated Statement of Operations - (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenue $ 316,227 $ 160,419
Total cost of sales 251,073 141,621
Gross margin 65,154 18,798
Sales and marketing expenses 19,148 9,931
General and administrative expenses 22,586 14,986
Total operating expenses 41,734 24,917
Income (loss) from operations 23,420 (6,119)
Other income, net 264 (61)
Equity in net loss of unconsolidated joint ventures (including related party interest of $35 and $348, respectively) (1) (21)
Loss on remeasurement of warrant liability (5,555) (4,950)
Pretax income (loss) 18,128 (11,151)
Provision (benefit) for income taxes 5,067 (4,065)
Net income (loss) 13,061 (7,086)
Net loss attributable to noncontrolling interests (4) (12)
Net income (loss) attributable to Landsea Homes Corporation $ 13,065 $ (7,074)
Income (loss) per share:    
Basic (in dollars per share) $ 0.28 $ (0.16)
Diluted (in dollars per share) $ 0.28 $ (0.16)
Weighted average common shares outstanding:    
Basic (in shares) 45,347,369 44,245,847
Diluted (in shares) 45,508,556 44,245,847
Home sales    
Revenue $ 297,966 $ 154,765
Cost of sales and expenses 235,702 136,841
Gross margin 62,264 17,924
Lot sales and other    
Revenue 18,261 5,654
Cost of sales and expenses 15,371 4,780
Gross margin $ 2,890 $ 874

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