Alex Johnson

Samantha Lee

- **United Homes Group, Inc. (UHG)** reported preliminary Q3 2025 unit statistics, with **net new orders declining 5.0%** to **324** and **home closings decreasing 29.0%** to **262** year-over-year.  **[1830188_0001830188-25-000069_q32025pressreleaseunitstats.htm:0]** 
- **Home starts surged 65.9%** to **526** in Q3 2025, supported by an increase in community count to **56** as of September 30, 2025.  **[1830188_0001830188-25-000069_q32025pressreleaseunitstats.htm:0]** 
- The company's **backlog inventory rose 20.0%** to **264** as of September 30, 2025, while total inventory (backlog, spec, and model homes) increased **6.2%** to **723**.  **[1830188_0001830188-25-000069_q32025pressreleaseunitstats.htm:0]** 
- Management indicated that **elevated new home inventory and competitive dynamics** are expected to impact gross margin improvement.  **[1830188_0001830188-25-000069_q32025pressreleaseunitstats.htm:0]**

United Homes Group, Inc. Reports Preliminary Q3 2025 Unit Statistics

- On **September 29, 2025**, United Homes Group, Inc. (UHG) entered into a **Fourth Amendment to its Second Amended and Restated Credit Agreement** with Wells Fargo Bank, National Association, and a **First Amendment to its Credit Agreement** with Kennedy Lewis Agency Partners LLC.  **[1830188_0001830188-25-000066_exhibit101-fourthamendtose.htm:0]** **[1830188_0001830188-25-000066_exhibit102-firstamendmentt.htm:0]** **[1830188_0001830188-25-000066_uhg-20250929.htm:1]** **[1830188_0001830188-25-000066_uhg-20250929.htm:2]** 
- The Wells Fargo amendment revises financial covenants, increasing the **minimum Tangible Net Worth** to **$76,005,357.00** and the **minimum Liquidity** to **$45,000,000** for the period from September 29, 2025, through the Specified Covenant Termination Date.  **[1830188_0001830188-25-000066_uhg-20250929.htm:1]** **[1830188_0001830188-25-000066_exhibit101-fourthamendtose.htm:1]** **[1830188_0001830188-25-000066_exhibit101-fourthamendtose.htm:2]** 
- For the Wells Fargo facility, the **minimum Debt Service Coverage Ratio** was adjusted to **1.35 to 1.00** for the fiscal quarter ending September 30, 2025, and **1.50 to 1.00** for the fiscal quarter ending December 31, 2025.  **[1830188_0001830188-25-000066_uhg-20250929.htm:1]** **[1830188_0001830188-25-000066_exhibit101-fourthamendtose.htm:2]** 
- The Kennedy Lewis amendment also sets the **minimum Debt Service Coverage Ratio** at **1.35 to 1.00** through December 31, 2025, allowing for two instances where it can be less than 1.35 to 1.00 but greater than or equal to **1.20 to 1.00** from December 11, 2024, until December 31, 2025.  **[1830188_0001830188-25-000066_uhg-20250929.htm:2]** **[1830188_0001830188-25-000066_exhibit102-firstamendmentt.htm:1]**

United Homes Group (UHG)