| Schedule of Segment Reporting Information, by Segment |
The following table summarizes total revenue and pretax income by segment:
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Three Months Ended March 31, 2025 |
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Arizona |
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California |
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Colorado |
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Florida |
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Texas |
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Total Reportable Segments |
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Corporate and Other |
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Consolidated Total |
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(dollars in thousands) |
| Revenue |
$ |
79,994 |
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$ |
58,671 |
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$ |
12,735 |
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$ |
111,269 |
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$ |
48,142 |
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$ |
310,811 |
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$ |
— |
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$ |
310,811 |
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| Cost of sales |
67,307 |
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49,344 |
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11,820 |
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96,321 |
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46,554 |
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271,346 |
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(103) |
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271,243 |
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| Gross margin |
12,687 |
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9,327 |
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915 |
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14,948 |
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1,588 |
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39,465 |
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103 |
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39,568 |
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| Sales and marketing expenses |
8,297 |
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2,973 |
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982 |
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7,340 |
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4,300 |
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23,892 |
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60 |
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23,952 |
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| General and administrative expenses |
4,656 |
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5,138 |
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1,741 |
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6,330 |
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4,925 |
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22,790 |
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4,023 |
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26,813 |
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| Other income (expense), net |
125 |
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(41) |
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4 |
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146 |
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53 |
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287 |
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1,013 |
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1,300 |
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| Pretax (loss) income |
$ |
(141) |
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$ |
1,175 |
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$ |
(1,804) |
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$ |
1,424 |
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$ |
(7,584) |
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$ |
(6,930) |
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$ |
(2,967) |
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$ |
(9,897) |
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Three Months Ended March 31, 2024 |
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Arizona |
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California |
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Colorado |
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Florida |
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Texas |
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Total Reportable Segments |
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Corporate and Other |
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Consolidated Total |
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(dollars in thousands) |
| Revenue |
$ |
79,485 |
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$ |
131,894 |
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$ |
8,854 |
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$ |
73,060 |
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$ |
748 |
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$ |
294,041 |
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$ |
— |
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$ |
294,041 |
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| Cost of sales |
66,844 |
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112,294 |
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7,760 |
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62,972 |
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710 |
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250,580 |
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— |
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250,580 |
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| Gross margin |
12,641 |
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19,600 |
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1,094 |
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10,088 |
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38 |
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43,461 |
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— |
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43,461 |
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| Sales and marketing expenses |
7,809 |
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4,700 |
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707 |
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4,674 |
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558 |
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18,448 |
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40 |
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18,488 |
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| General and administrative expenses |
4,538 |
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6,856 |
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1,543 |
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5,802 |
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1,413 |
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20,152 |
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5,930 |
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26,082 |
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| Other income (expense), net |
185 |
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167 |
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4 |
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153 |
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(3) |
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506 |
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1,307 |
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1,813 |
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| Pretax income (loss) |
$ |
479 |
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$ |
8,211 |
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$ |
(1,152) |
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$ |
(235) |
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$ |
(1,936) |
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$ |
5,367 |
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$ |
(4,663) |
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$ |
704 |
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Other income (expense), net includes income from forfeited customer deposits; costs from abandoned projects; gains or losses on disposals of fixed assets; mortgage and title revenue; and other insignificant activity.
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| Schedule of Reconciliation of Assets from Segment to Consolidated |
The following table summarizes total assets by segment:
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March 31, 2025 |
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December 31, 2024 |
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(dollars in thousands) |
| Assets |
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| Arizona |
$ |
313,020 |
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$ |
305,952 |
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| California |
446,758 |
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436,854 |
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| Colorado |
44,752 |
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39,374 |
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| Florida |
403,419 |
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414,790 |
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| Texas |
368,242 |
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378,569 |
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| Total assets for reportable segments |
1,576,191 |
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1,575,539 |
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| Corporate and other |
106,191 |
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125,798 |
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| Total assets |
$ |
1,682,382 |
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$ |
1,701,337 |
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