Landsea Homes Corp - 2025年季度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting Large accelerated filerNon-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 7, 2025,36,409,560Class A common stock, par value $0.0001 per share, were outstanding. Landsea Homes CorporationForm 10-Q Index PART I. FINANCIAL INFORMATION Landsea Homes CorporationConsolidated Statements of Equity - (Unaudited) Landsea Homes Corp. | Q1 2025 Form 10-Q | 3 Landsea Homes CorporationNotes to the Consolidated Financial Statements - (unaudited) 1.Company and Summary of Significant Account Policies Landsea Homes Corporation (together with its subsidiaries, “Landsea Homes” or the “Company”) is engaged in theacquisition, development, and sale of homes and lots within itsfivereportable segments: Arizona, California, Colorado, Florida, and Basis of Presentation and Consolidation—The accompanying consolidated financial statements have been prepared inaccordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of theCompany and all subsidiaries, partnerships, and other entities in which the Company has a controlling interest as well as variable The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interimfinancial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and shouldbe read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form10-K for the year ended December 31, 2024, filed with the SEC on February 27, 2025. The accompanying unaudited consolidated Use of Estimates—The preparation of consolidated financial statements in conformity with GAAP requires management tomake estimates and assumptions that affect the reported amounts in the consolidated financial statements and accompanying notes. Recent Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07,Segment Reporting (Topic 280): Improvements to Reportable SegmentDisclosures, which requires disclosure of additional segment information. These additional requirements include significant expenses,other segment items to reconcile segment revenue and significant expenses to the reported measure of segment profit or loss, adescription of the composition of the other segment items, and the title and position of the entity’s chief operating decision maker(“CODM”). The amendments in this update also expand the segment disclosure requirements to interim periods. The guidance iseffective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, In December 2023, the FASB issued ASU 2023-09,Income Taxes (Topic 740): Improvements to Income Tax Disclosures,which requires annual disclosure of specific categories in the income tax rate reconciliation and of additional information forreconciling items that meet a quantitative threshold among other changes. Specifically, the guidance requires a tabular reconciliationdisclosure, using both percentages and amounts. The guidance is effective for annual periods beginning after December 15, 2024, with In November 2024, the FASB issued ASU 2024-03,Income Statement—Reporting Comprehensive Income—ExpenseDisaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU requires that, at each interimand annual reporting period, an entity disclose in the notes to the financial statements certain costs and expenses. The guidance iseffective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early 2.Business Combination On April1, 2024, the Company completed the acquisition of Antares Acquisition, LLC (“Antares”), a Dallas Fort Worthbased homebuilder, for $239.8million using a combination