Annual report pursuant to Section 13 and 15(d)

Consolidated Statement of Operations

v3.24.0.1
Consolidated Statement of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenue $ 1,209,947 $ 1,446,449 $ 1,023,304
Total cost of sales 994,973 1,159,525 840,706
Gross margin 214,974 286,924 182,598
Sales and marketing expenses 73,248 89,305 52,840
General and administrative expenses 101,442 89,325 70,266
Total operating expenses 174,690 178,630 123,106
Income from operations 40,284 108,294 59,492
Other income, net 4,261 86 5,148
(Loss) gain on remeasurement of warrant liability 0 (7,315) 2,090
Pretax income 44,545 101,065 66,730
Provision for income taxes 11,895 25,400 13,995
Net income 32,650 75,665 52,735
Net income (loss) attributable to noncontrolling interests 3,414 2,114 (51)
Net income attributable to Landsea Homes Corporation $ 29,236 $ 73,551 $ 52,786
Earnings per share:      
Basic (in dollars per share) $ 0.75 $ 1.71 $ 1.14
Diluted (in dollars per share) $ 0.75 $ 1.70 $ 1.14
Weighted average shares outstanding:      
Basic (in shares) 38,885,003 42,052,696 45,198,722
Diluted (in shares) 39,076,322 42,199,462 45,250,718
Home Sales      
Revenue $ 1,169,867 $ 1,392,750 $ 936,400
Total cost of sales 967,034 1,108,204 772,575
Gross margin 202,833 284,546 163,825
Lot Sales and other      
Revenue 40,080 53,699 86,904
Total cost of sales 27,939 51,321 68,131
Gross margin $ 12,141 $ 2,378 $ 18,773