| 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 June 30, 2026 | | in thousands | West | | East | | Southeast | | Reportable Segment Subtotal | | Corporate and unallocated | | Total | | Revenue | $ | 287,324 | | | $ | 121,533 | | | $ | 107,449 | | | $ | 516,306 | | | $ | — | | | $ | 516,306 | | | Home construction and land sales expenses | 242,113 | | 104,043 | | 86,254 | | 432,410 | | 15,453 | | 447,863 | | Inventory impairments and abandonments | 1,028 | | 1,015 | | — | | 2,043 | | 299 | | 2,342 | | Commissions | 9,919 | | 3,223 | | 4,014 | | 17,156 | | — | | 17,156 | | Sales and marketing | 9,106 | | 3,275 | | 2,982 | | 15,363 | | 5,031 | | 20,394 | | Other general and administrative expenses | 8,261 | | 3,685 | | 3,387 | | 15,333 | | 19,659 | | 34,992 | | Depreciation and amortization | 2,033 | | 774 | | 859 | | 3,666 | | 1,258 | | 4,924 | | Operating income (loss) | $ | 14,864 | | | $ | 5,518 | | | $ | 9,953 | | | $ | 30,335 | | | $ | (41,700) | | | $ | (11,365) | | | Loss on extinguishment of debt, net | | | | | | | | | | | (668) | | Other income, net | | | | | | | | | | | 1,532 | | Loss before income taxes | | | | | | | | | | | $ | (10,501) | | | | | | | | | | | | | | | Nine Months Ended June 30, 2026 | | in thousands | West | | East | | Southeast | | Reportable Segment Subtotal | | Corporate and unallocated | | Total | | Revenue | $ | 747,684 | | | $ | 312,117 | | | $ | 229,842 | | | $ | 1,289,643 | | | $ | — | | | $ | 1,289,643 | | | Home construction and land sales expenses | 636,002 | | 266,615 | | 188,784 | | 1,091,401 | | 40,230 | | 1,131,631 | | Inventory impairments and abandonments | 3,551 | | 1,914 | | — | | 5,465 | | 542 | | 6,007 | | Commissions | 25,966 | | 8,342 | | 8,254 | | 42,562 | | — | | 42,562 | | Sales and marketing | 26,665 | | 9,647 | | 7,713 | | 44,025 | | 14,239 | | 58,264 | | Other general and administrative expenses | 24,871 | | 10,644 | | 8,801 | | 44,316 | | 55,989 | | 100,305 | | Depreciation and amortization | 5,509 | | 1,577 | | 1,786 | | 8,872 | | 4,178 | | 13,050 | | Operating income (loss) | $ | 25,120 | | | $ | 13,378 | | | $ | 14,504 | | | $ | 53,002 | | | $ | (115,178) | | | $ | (62,176) | | | Loss on extinguishment of debt, net | | | | | | | | | | | (668) | | Other income, net | | | | | | | | | | | 2,743 | | Loss before income taxes | | | | | | | | | | | $ | (60,101) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | in thousands | West | | East | | Southeast | | Reportable Segment Subtotal | | Corporate and unallocated | | Total | | Revenue | $ | 329,149 | | | $ | 149,160 | | | $ | 67,058 | | | $ | 545,367 | | | $ | — | | | $ | 545,367 | | | Home construction and land sales expenses | 269,198 | | 122,495 | | 55,112 | | 446,805 | | 15,643 | | 462,448 | | Inventory impairments and abandonments | 3,081 | | — | | 5,635 | | 8,716 | | 1,623 | | 10,339 | | Commissions | 11,489 | | 4,630 | | 2,496 | | 18,615 | | — | | 18,615 | | Sales and marketing | 7,796 | | 2,865 | | 2,302 | | 12,963 | | 3,900 | | 16,863 | | Other general and administrative expenses | 8,031 | | 4,064 | | 3,647 | | 15,742 | | 20,499 | | 36,241 | | Depreciation and amortization | 2,152 | | 633 | | 427 | | 3,212 | | 1,359 | | 4,571 | | Operating income (loss) | $ | 27,402 | | | $ | 14,473 | | | $ | (2,561) | | | $ | 39,314 | | | $ | (43,024) | | | $ | (3,710) | | | | | | | | | | | | | | | Other income, net | | | | | | | | | | | 1,204 | | Loss before income taxes | | | | | | | | | | | $ | (2,506) | | | | | | | | | | | | | | | Nine Months Ended June 30, 2025 | | in thousands | West | | East | | Southeast | | Reportable Segment Subtotal | | Corporate and unallocated | | Total | | Revenue | $ | 1,001,921 | | | $ | 379,898 | | | $ | 197,840 | | | $ | 1,579,659 | | | $ | — | | | $ | 1,579,659 | | | Home construction and land sales expenses | 814,996 | | 318,595 | | 164,541 | | 1,298,132 | | 40,004 | | 1,338,136 | | Inventory impairments and abandonments | 3,609 | | — | | 5,635 | | 9,244 | | 1,623 | | 10,867 | | Commissions | 34,596 | | 11,823 | | 7,092 | | 53,511 | | — | | 53,511 | | Sales and marketing | 22,936 | | 8,267 | | 6,218 | | 37,421 | | 10,482 | | 47,903 | | Other general and administrative expenses | 24,632 | | 10,874 | | 9,435 | | 44,941 | | 59,231 | | 104,172 | | Depreciation and amortization | 6,861 | | 1,637 | | 1,122 | | 9,620 | | 3,653 | | 13,273 | | Operating income (loss) | $ | 94,291 | | | $ | 28,702 | | | $ | 3,797 | | | $ | 126,790 | | | $ | (114,993) | | | $ | 11,797 | | | | | | | | | | | | | | | Other income, net | | | | | | | | | | | 3,031 | | Income before income taxes | | | | | | | | | | | $ | 14,828 | |
The following table presents assets by segment as of June 30, 2026 and September 30, 2025: | | | | | | | | | | | | | in thousands | June 30, 2026 | | September 30, 2025 | | Assets | | | | | West | $ | 1,211,517 | | | $ | 1,060,650 | | | East | 519,134 | | | 451,299 | | | Southeast | 547,375 | | | 461,110 | | Corporate and unallocated(a) | 626,724 | | | 636,649 | | | Total assets | $ | 2,904,750 | | | $ | 2,609,708 | |
(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.
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