Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Operations

v3.22.4
Consolidated Statement of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]      
Sales and marketing expenses $ 89,305 $ 52,840 $ 48,100
General and administrative expenses 89,325 70,266 42,598
Total operating expenses 178,630 123,106 90,698
Income from operations 108,294 59,492 4,173
Other (expense) income, net (63) 3,886 80
Equity in net income (loss) of unconsolidated joint ventures 149 1,262 (16,418)
(Loss) gain on remeasurement of warrant liability (7,315) 2,090 0
Pretax income (loss) 101,065 66,730 (12,165)
Provision (benefit) for income taxes 25,400 13,995 (3,081)
Net income (loss) 75,665 52,735 (9,084)
Net income (loss) attributable to noncontrolling interests 2,114 (51) (133)
Net income (loss) attributable to Landsea Homes Corporation $ 73,551 $ 52,786 $ (8,951)
Earnings (loss) per share:      
Basic (in dollars per share) $ 1.71 $ 1.14 $ (0.27)
Diluted (in dollars per share) $ 1.70 $ 1.14 $ (0.27)
Weighted average shares outstanding:      
Basic (in shares) 42,052,696 45,198,722 32,557,303
Diluted (in shares) 42,199,462 45,250,718 32,557,303
Revenue $ 1,446,449 $ 1,023,304 $ 734,608
Gross margin 286,924 182,598 94,871
Inventory impairments 0 0 3,413
Total cost of sales 1,159,525 840,706 639,737
Home Sales      
Revenue 1,392,750 936,400 734,608
Cost of sales and expenses 1,108,204 772,575 636,324
Gross margin 284,546 163,825 94,871
Lot Sales and other      
Revenue 53,699 86,904 0
Cost of sales and expenses 51,321 68,131 0
Gross margin $ 2,378 $ 18,773 $ 0