v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net income $ 65,839 $ 83,925
Depreciation, Depletion and Amortization 1,082 1,405
Gain (Loss) on Disposition of Property Plant Equipment 0 (8)
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation expense 4,072 8,133
Earnest Money Deposits and Pre-acquisition Costs Written-Off 1,469 264
Income (Loss) from Equity Method Investments (1,120) (473)
Distributions of income from unconsolidated entities 24,082 0
Changes in operating assets and liabilities:    
Decrease in receivables 9,164 1,262
Increase in inventory (56,465) (48,489)
Decrease (increase) in earnest money deposits 2,064 (3,416)
(Increase) decrease in other assets (3,095) 13,294
(Decrease) increase in accounts payable 1,861 (17,998)
Decrease in accrued expenses (11,223) (6,597)
Increase (Decrease) in Contract with Customer, Liability 346 1,449
Net cash provided by operating activities 56,267 68,747
Cash flows from investing activities:    
Purchases of property and equipment (1,227) (713)
Net cash used in investing activities (4,688) (11,961)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation [Abstract]    
Borrowings from lines of credit 50,000 81,160
Repayments of Lines of Credit 50,000 105,589
Repayments of warehouse lines of credit (95,696) 0
Repayments of Senior Debt (25,000) (25,000)
Payment, Tax Withholding, Share-based Payment Arrangement 1,799 3,059
Payments for Repurchase of Common Stock (7,284) (16,919)
Payments to Noncontrolling Interests 9,278 11,500
Net cash used in financing activities (65,531) (81,626)
Net decrease in cash and cash equivalents and restricted cash (13,952) (24,840)
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Beginning Balance 190,985 159,696
Cash and cash equivalents and restricted cash, end of period 177,033 134,856
Supplemental Cash Flow Information [Abstract]    
Earnest Money Deposits and Pre-acquisition Costs Written-Off 1,469 264
Payments to Acquire Equity Method Investments (3,461) (11,248)
Payments of Dividends $ (719) $ (719)