Segment Information (Tables)

3 Months Ended

Dec. 31, 2025

Schedule of Segment Reporting Information

The following tables provide financial information about our reportable segments and Corporate and unallocated component for the periods presented:


	Three Months Ended December 31, 2025
in thousands	West		East		Southeast		Reportable Segment Subtotal		Corporate and unallocated		Total
Revenue	$	223,504	$	93,459	$	46,528	$	363,491	$	—	$	363,491
Home construction and land sale expenses	192,178		79,519		39,705		311,402		12,515		323,917
Inventory impairments and abandonments	1,349		899		—		2,248		122		2,370
Commissions	7,723		2,597		1,696		12,016		—		12,016
Sales and marketing	8,714		3,137		2,152		14,003		5,274		19,277
Other general and administrative expenses	7,561		3,299		2,567		13,427		20,285		33,712
Depreciation and amortization	1,798		475		396		2,669		1,373		4,042
Operating income (loss)	$	4,181	$	3,533	$	12	$	7,726	$	(39,569)	$	(31,843)

Other income, net											778
Loss before income taxes											$	(31,065)
Total assets(a)	$	1,096,705	$	451,228	$	501,643	$	2,049,576	$	590,137	$	2,639,713


	Three Months Ended December 31, 2024
in thousands	West		East		Southeast		Reportable Segment Subtotal		Corporate and unallocated		Total
Revenue	$	298,916	$	109,882	$	60,155	$	468,953	$	—	$	468,953
Home construction and land sale expenses	243,909		93,215		50,392		387,516		9,359		396,875

Commissions	10,562		3,420		2,131		16,113		—		16,113
Sales and marketing	7,246		2,683		1,999		11,928		2,985		14,913
Other general and administrative expenses	7,594		3,436		2,714		13,744		21,115		34,859
Depreciation and amortization	2,191		456		298		2,945		1,110		4,055
Operating income (loss)	$	27,414	$	6,672	$	2,621	$	36,707	$	(34,569)	$	2,138

Other income, net											1,028
Income before income taxes											$	3,166
Total assets(a)	$	1,178,094	$	485,806	$	422,187	$	2,086,087	$	514,441	$	2,600,528

(a) Total assets at Corporate and unallocated include cash and cash equivalents, restricted cash, deferred taxes, capitalized interest and indirect costs, and other items that are not allocated to the segments.