Dream Finders Homes, Inc. Q3 FY25 Results

Dream Finders continued to perform admirably in the third quarter, generating homebuilding revenues of $917 million and 1,915 closings. While revenue was lower year over year, we were able to achieve a modest increase in home closings, along with a meaningful rise in net sales, both of which are third quarter Company records. This performance reflects the resilience of our business strategy and the grit of our team. We continue to see a complex and challenging housing environment, though we are encouraged by the recent easing of mortgage rates. I commend our team’s ability to execute in this challenging market and continue to search for ways to add value. During the third quarter, we completed our second bond offering for $300 million in aggregate principal with a 6.875% rate. Our execution represents another milestone in our company history and serves as evidence that our business model has gained further credibility in capital markets. I am proud of the team for this achievement, along with the progress made on the integration of our acquisitions last quarter, including Alliant National Title Insurance Company, Inc. and Green River Builders, Inc. in Atlanta. While we see continued near-term challenges affecting the housing market, we remain confident that we have built the foundation to further scale our business and continue to deliver superior, long-term, returns for our shareholders. Our durable capital allocation and growth strategy is also highlighted by the repurchase of 357,715 shares of our common stock in the third quarter. Given the market challenges in the current environment impacting our initial closing goals for the year, we are revising our full-year 2025 guidance to approximately 8,500 home closings.