7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 
      
    		                                                
      cash flows from operating activities:
    		                                                
      net income
    		19,704,000 31,533,000 3,994,000 50,870,000 69,575,000 58,573,000 17,053,000 52,089,000 67,042,000 53,134,000 26,962,000 34,115,000 90,390,000 123,376,000 78,686,000 111,303,000 100,550,000 118,134,000 99,658,000 136,428,000 89,004,000 55,624,000 42,839,000 64,870,000 49,349,000 46,055,000 18,334,000 42,653,000 37,723,000 47,608,000 27,302,000 35,640,000 33,687,000 32,199,000 11,780,000 23,205,000 19,467,000 20,659,000 11,700,000 15,731,000 15,420,000 13,977,000 7,702,000 7,534,000 7,046,000 9,037,000 4,594,000 9,123,962 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                
      equity in income of unconsolidated entities
    		35,000 -1,034,000 -875,000 -3,690,000 -4,624,000 -2,945,000 -2,043,000 -4,341,000 -3,189,000 -3,059,000 -2,245,000 -1,517,000 -2,150,000 -1,662,000 -178,000                                  
      distributions of earnings from unconsolidated entities
    		326,000 -284,000 3,979,000 3,635,000 6,340,000 2,601,000 1,796,000 4,836,000 3,732,000 3,832,000 2,425,000 1,391,000 1,988,000 1,085,000 129,000                                  
      depreciation and amortization
    		1,178,000 1,014,000 861,000 828,000 830,000 777,000 673,000 628,000 793,000 505,000 482,000 442,000 404,000 382,000 348,000 322,000 295,000 249,000 288,000 201,000 192,000 156,000 161,000 156,000 161,000 161,000 165,000 168,000 177,000 186,000 180,000 191,000 194,000 195,000 211,000 217,000 223,000 283,000 366,000 236,000 225,000 216,000 206,000 354,000 170,000 157,000 144,000 92,859 
      loss on disposal of assets
    		-2,281,000 2,000 2,284,000                         0                0 4,000 0 10,000  
      compensation expense for equity awards
    		1,606,000 2,826,000 2,625,000 1,557,000 2,257,000 2,840,000 3,829,000 340,000 3,123,000 2,360,000 3,103,000 557,000 1,516,000 3,545,000 3,570,000 3,426,000 3,352,000 3,395,000 3,422,000 5,125,000 3,926,000 2,613,000 1,853,000 2,358,000 1,759,000 1,639,000 1,783,000 1,765,000 1,402,000 1,419,000 1,351,000 1,511,000 1,097,000 350,000 1,230,000 1,036,000 835,000 711,000 814,000 635,000 973,000 336,000 335,000 235,000 247,000 255,000 125,000  
      deferred income taxes
    		809,000 -2,279,000 1,117,000 -125,000 -2,104,000 227,000 894,000 1,461,000 -1,757,000 -2,740,000 1,059,000 1,451,000 -2,150,000 -2,553,000 3,264,000 1,415,000 -1,516,000 -2,747,000 3,636,000 -1,533,000 -1,766,000 -1,386,000 2,320,000 -1,833,000 -773,000 -875,000 1,650,000 1,060,000 -1,689,000 -1,027,000 932,000 261,000 -1,722,000 -1,608,000 977,000 -1,610,000 -619,000 -727,000 394,000 1,249,000 -503,000 -949,000 245,000 180,000 -20,000 -61,000 -98,000  
      changes in assets and liabilities:
    		                                                
      accounts receivable
    		13,357,000 -12,871,000 6,992,000 20,305,000 -5,809,000 -16,063,000 14,169,000 -5,668,000 12,514,000 -26,295,000 3,273,000 12,307,000 14,656,000 -3,617,000 9,420,000 -8,738,000 20,351,000 -10,293,000 56,710,000 -53,922,000 -3,788,000 -13,224,000 11,385,000 -10,960,000 -2,223,000 -11,220,000 10,849,000 -11,457,000 367,000 -10,086,000 23,046,000 -11,990,000 1,421,000 -16,987,000 -95,000 -1,414,000 -568,000 -1,304,000 3,556,000 -1,502,000 -1,049,000 -1,791,000 -5,618,000 2,349,000 -489,000 -3,684,000 -139,000 -3,189,183 
      real estate inventory
    		-60,513,000 -100,159,000 -186,583,000 25,007,000 -103,667,000 -147,636,000 -139,593,000 -61,158,000 -200,795,000 -9,510,000 15,945,000 -32,237,000 -244,103,000 -295,967,000 -251,612,000 -177,024,000 -127,915,000 -117,012,000 -41,692,000 -21,447,000 -90,516,000 23,833,000 17,902,000 -16,730,000 -150,250,000 -38,417,000 -61,254,000 -40,277,000 -50,938,000 -23,143,000 -120,306,000 -16,943,000 -67,012,000 -46,391,000 -70,263,000 -40,829,000 -66,433,000 -47,728,000 -28,894,000 -66,308,000 -51,670,000 -19,186,000 -14,543,000 -54,823,000 -68,225,000 -39,753,000 -35,556,000 -36,284,196 
      pre-acquisition costs and deposits
    		1,311,000 3,005,000 4,014,000 -2,373,000 329,000 -2,241,000 -1,410,000 4,308,000 -8,417,000 181,000 -1,394,000 7,079,000 6,167,000 894,000 1,531,000 9,566,000 -4,724,000 672,000 -2,276,000 -2,267,000 -4,184,000 6,687,000 -204,000 2,892,000 5,854,000 -2,293,000 2,054,000 1,085,000 -9,242,000 -4,953,000 -5,743,000 -4,707,000 -715,000 -1,882,000 -911,000 799,000 1,268,000 -3,456,000 -2,261,000 878,000 57,000 -866,000 2,808,000 2,960,000 589,000 738,000 -10,353,000 -31,330 
      other assets
    		2,103,000 -203,000 43,763,000 4,521,000 -155,000 -7,731,000 7,216,000 -7,840,000 8,019,000 564,000 22,290,000 -18,760,000 8,072,000 19,022,000 362,000 -17,987,000 2,713,000 -9,223,000 -4,192,000 8,231,000 -28,840,000 -2,124,000 -2,953,000 573,000 -281,000 4,824,000 1,112,000 -4,745,000 319,000 6,235,000 -3,207,000 -4,785,000 -3,036,000 -1,911,000 1,089,000 -1,005,000 1,447,000 1,074,000 3,956,000 -2,485,000 -2,465,000 -1,102,000 1,257,000 -28,000 -349,000 441,000 -681,000 2,121,181 
      accounts payable
    		-8,100,000 -5,818,000 18,591,000 -20,043,000 -13,431,000 20,590,000 14,539,000 -35,672,000 7,924,000 19,425,000 14,653,000 -29,955,000 15,080,000 18,197,000 7,793,000 -21,316,000 -23,346,000 16,026,000 27,876,000 -17,546,000 15,812,000 -3,656,000 6,571,000 -16,509,000 6,442,000 7,872,000 5,449,000 -8,650,000 -2,002,000 -5,844,000 13,717,000 -14,051,000 7,064,000 -913,000 7,643,000 -6,253,000 -3,457,000 1,254,000 -3,291,000 -4,591,000 4,756,000 7,113,000 2,352,000 31,000 -3,903,000 5,983,000 -631,000 2,570,687 
      accrued expenses and other liabilities
    		17,237,000 -2,105,000 -27,910,000 -9,471,000 32,695,000 7,518,000 -16,616,000 16,724,000 -2,865,000 -23,162,000 -8,953,000 14,228,000 21,575,000 11,785,000 10,464,000 19,483,000 -20,609,000 -21,047,000 17,256,000 35,911,000 -12,931,000 18,746,000 -21,071,000 37,371,000 4,696,000 6,370,000 -13,320,000 3,691,000 14,473,000 4,493,000 -48,360,000 18,566,000 24,511,000 16,470,000 1,155,000 -15,253,000 15,339,000 5,315,000 3,138,000 -8,575,000 11,746,000 5,793,000 -152,000 -2,065,000 2,821,000 809,000 1,187,000 1,030,504 
      net cash from operating activities
    		-13,228,000 -86,373,000 -127,148,000 57,008,000 -17,764,000 -83,490,000 -99,493,000 -34,293,000 -115,510,000 15,235,000 77,600,000 -10,899,000 -96,252,000 -125,513,000 -137,787,000 -79,387,000 -38,765,000 -20,834,000 160,686,000 89,177,000 -33,091,000 87,269,000 58,803,000 62,225,000 -85,266,000 14,285,000 -33,178,000 -14,707,000 -6,346,000 15,254,000 -110,924,000 3,706,000 -4,511,000 -20,478,000 -47,184,000 -41,220,000 -32,498,000 -23,919,000 -10,546,000 -64,804,000 -22,510,000 3,566,000 -5,408,000 -43,629,000 -62,109,000 -26,078,000 -41,398,000 -30,207,363 
      capex
    		-39,000 -54,000 -831,000 -607,000 -64,000 -280,000 -1,001,000 -595,000 -577,000 -195,000 -76,000 -130,000 -64,000 0 -993,000 -88,000 -502,000 140,000 -1,279,000 -1,531,000 -601,000 -143,000 -417,000 -193,000 -218,000 -112,000 -211,000 -80,000 -28,000 -214,000 -153,000 -16,000 -179,000 -152,000 -171,000 -151,000 -213,000 -173,000 -185,000 -225,000 -475,000 -228,000 -189,000 -367,000 -289,000 -241,000 -298,000 -151,795 
      free cash flows
    		-13,267,000 -86,427,000 -127,979,000 56,401,000 -17,828,000 -83,770,000 -100,494,000 -34,888,000 -116,087,000 15,040,000 77,524,000 -11,029,000 -96,316,000 -125,513,000 -138,780,000 -79,475,000 -39,267,000 -20,694,000 159,407,000 87,646,000 -33,692,000 87,126,000 58,386,000 62,032,000 -85,484,000 14,173,000 -33,389,000 -14,787,000 -6,374,000 15,040,000 -111,077,000 3,690,000 -4,690,000 -20,630,000 -47,355,000 -41,371,000 -32,711,000 -24,092,000 -10,731,000 -65,029,000 -22,985,000 3,338,000 -5,597,000 -43,996,000 -62,398,000 -26,319,000 -41,696,000 -30,359,158 
      cash flows from investing activities:
    		                                                
      purchases of property and equipment
    		-39,000 -54,000 -831,000 -607,000 -64,000 -280,000 -1,001,000 -595,000 -577,000 -195,000 -76,000 -130,000 -64,000 0 -993,000 -88,000 -502,000 140,000 -1,279,000 -1,531,000 -601,000 -143,000 -417,000 -193,000 -218,000 -112,000 -211,000 -80,000 -28,000 -214,000 -153,000 -16,000 -179,000 -152,000 -171,000 -151,000 -213,000 -173,000 -185,000 -225,000 -475,000 -228,000 -189,000 -367,000 -289,000 -241,000 -298,000 -151,795 
      proceeds from sale of property and equipment
    		                                                
      investment in unconsolidated entities
    		-135,000 -1,934,000 -1,497,000 -2,573,000 -3,649,000   -6,270,000 -1,900,000 -3,800,000 -5,919,000 -3,732,000 178,000 -1,082,000 -380,000 -368,000 21,000                                
      return of capital from unconsolidated entities
    		2,253,000 4,305,000 2,083,000     813,000 1,723,000 2,008,000 1,140,000 0                                     
      net cash from investing activities
    		12,234,000 2,317,000 -245,000 22,261,000 -3,713,000 -4,946,000 2,018,000 -6,052,000 -754,000 -1,987,000 -4,855,000 -3,862,000 349,000 -1,082,000 -1,373,000 -562,000 -40,066,000 -30,167,000 404,000 -3,362,000 -601,000 -143,000 -1,542,000 -193,000 -1,277,000 -112,000 -211,000 -714,000 -73,857,000 -214,000 -153,000 -16,000 -179,000 -152,000 -171,000 -151,000 -213,000 -173,000 -185,000 -225,000 -475,000 56,000 -473,000 -15,536,000 -289,000 -241,000 -298,000 -29,981,214 
      cash flows from financing activities:
    		                                                
      proceeds from notes payable
    		204,000,000 218,177,000 172,467,000 484,647,000 158,600,000 176,644,000 172,422,000 551,419,000 191,081,000 111,893,000 32,890,000 84,034,000 163,699,000 173,560,000 197,617,000 163,399,000 458,766,000 512,809,000 104,844,000 174,008,000 70,037,000 4,891,000 128,128,000 129,241,000 100,317,000 34,750,000 45,000,000 75,000,000 417,717,000 10,000,000 110,000,000 20,000,000 20,000,000 35,000,000 25,000,000 50,000,000 23,000,000 32,000,000 35,000,000 60,000,000 7,580,000 163,703,000 14,099,000  66,763,000 45,765,000 15,000,000 8,780,540 
      payments on notes payable
    		-193,000,000 -100,000,000 -30,000,000 -546,000,000 -115,000,000 -60,000,000 -39,000,000 -486,000,000 -55,000,000 -100,000,000 -105,000,000 -198,000,000 -90,000,000   -25,000,000 -380,000,000 -334,000,000 -230,000,000 -255,000,000 -40,000,000 -160,000,000 -75,000,000 -189,962,000 -15,000,000 -45,000,000 -23,800,000 -50,000,000 -346,200,000 -25,000,000 -15,038,000 -10,000,000 0   -5,000,000 -3,000,000 -20,000,000 -17,000,000 0 -80,000 -154,126,000 -580,000  -501,000 -659,000 -1,715,000 -679,905 
      payments on financing arrangements
    		-6,729,000 -8,900,000 -8,600,000 -7,576,000 -13,580,000 -19,358,000 -27,336,000 -15,243,000 -25,428,000 -36,470,000 -17,886,000 -4,694,000                                     
      loan issuance costs
    		-1,776,000 -3,521,000 -210,000 -5,885,000 0 0 -97,000 -8,761,000 -74,000 -5,275,000 -212,000 -1,668,000 0   0 -72,000   0 -71,000   -917,000 0   -51,000 -2,767,000   0 -16,000 -4,169,000 -190,000 -273,000 -50,000 -1,897,000 -464,000 -399,000 -12,000   -3,052,000 -554,000    
      proceeds from sale of stock, net of offering expenses
    		918,000 848,000 1,190,000 813,000 1,289,000 1,223,000 1,506,000 927,000 1,499,000 1,288,000 1,546,000 759,000 1,154,000 1,691,000 2,013,000 1,444,000 1,547,000 2,015,000 2,108,000 1,530,000 959,000 937,000 833,000 921,000 701,000 615,000 649,000 633,000 612,000 745,000 700,000 6,081,000 5,546,000 573,000 4,930,000     6,825,000         
      stock repurchase
    		0 -20,588,000 -3,051,000  0 -7,998,000 -10,002,000      0 -37,443,000 -57,659,000  -56,083,000 -55,776,000 -25,827,000 -16,746,000 0 0 -31,335,000                          
      net cash from financing activities
    		3,413,000 86,016,000 131,796,000 -86,975,000 31,309,000 90,511,000 97,493,000 42,342,000 119,911,000 -12,880,000 -61,777,000 -5,901,000 106,592,000 115,241,000 141,971,000 83,746,000 13,844,000 114,548,000 -148,875,000 -96,208,000 30,925,000 -156,256,000 22,626,000 -60,717,000 86,018,000 -11,702,000 21,849,000 24,076,000 69,286,000 -18,178,000 95,530,000 15,913,000 25,358,000 16,282,000 29,485,000 44,974,000 28,960,000 26,184,000 20,737,000 66,132,000 9,703,000 7,117,000 13,519,000 44,374,000 65,708,000 43,512,000 13,285,000 104,864,664 
      net increase in cash and cash equivalents
    		2,419,000 1,960,000 4,403,000 -7,706,000 9,832,000 2,075,000 18,000 1,997,000 3,647,000 368,000 10,968,000 -20,662,000 10,689,000 -11,354,000 2,811,000 3,797,000 -64,987,000 63,547,000 12,215,000  -2,767,000 -69,130,000 79,887,000         19,603,000 20,668,000 -4,348,000 -17,870,000 3,603,000 -3,751,000 2,092,000 10,006,000 1,103,000 -13,282,000 10,739,000 7,638,000 -14,791,000 3,310,000 17,193,000 -28,411,000 44,676,087 
      cash and cash equivalents, beginning of period
    		0 0 53,197,000  0 0 48,978,000  0 0 31,998,000  0 0 50,514,000  0 0 35,942,000  0 0 38,345,000  0 0 46,624,000  0 0 67,571,000  0 0 49,518,000  0 0 37,568,000  0 0 31,370,000  0 0 54,069,000  
      cash and cash equivalents, end of period
    		2,419,000 1,960,000 57,600,000  9,832,000 2,075,000 48,996,000  3,647,000 368,000 42,966,000  10,689,000 -11,354,000 53,325,000  -64,987,000 63,547,000 48,157,000  -2,767,000 -69,130,000 118,232,000  -525,000 2,471,000 35,084,000  -10,917,000 -3,138,000 52,024,000  20,668,000 -4,348,000 31,648,000  -3,751,000 2,092,000 47,574,000  -13,282,000 10,739,000 39,008,000  3,310,000 17,193,000 25,658,000  
      proceeds from sale of assets held for sale
    		                                                
      gain on sale of interest rate cap
    		           0                                     
      gain on disposal of assets
    		       0    0   -1,564,000 163,000                                 
      proceeds from financing arrangements
    		       0 7,833,000 15,684,000 26,885,000 113,668,000                                     
      stock repurchases
    		                                                
      cash and cash equivalents, beginning of year
    		                                                
      cash and cash equivalents, end of year
    		                                                
      proceeds from sale of assets
    		      3,019,000                                          
      loss on extinguishment of debt
    		               0 13,314,000       0 0   0 3,058,000                    
      payment for business acquisitions
    		               -106,000                                 
      redemption premium
    		               0                                 
      payment for business acquisition
    		                           -634,000                     
      (gain) loss on disposal of assets
    		                                                
      return of capital from (investment in) unconsolidated entity
    		                  1,683,000                              
      investment in unconsolidated entity
    		                   -1,831,000 0 0 -1,125,000 0                         
      payment for offering costs
    		                           0    0 0 0 -69,000   -48,000 -57,000 -106,000         
      payment for earnout obligation
    		                           0 0 0 -132,000 -168,000 -172,000 -122,000 -186,000   -189,000 -252,000 -260,000 -240,000 -324,000 -284,000      
      net decrease in cash and cash equivalents
    		                        -525,000 2,471,000 -11,540,000  -10,917,000 -3,138,000 -15,547,000                  
      excess tax benefits from stock based compensation
    		                                      -24,000          
      excess tax benefits from equity awards
    		                                                
      loss on extinguishment of debt issuance costs
    		                              164,000                  
      payment for business acquisitions, net of cash acquired
    		                                                
      excess tax benefits (deficiencies) from equity awards
    		                                                
      excess tax (benefits) deficiencies from stock based compensation
    		                                    0            
      proceeds from sale of stock, net of commissions
    		                                    9,353,000 16,318,000 3,486,000          
      payments for offering costs
    		                                                
      payments for earnout obligation
    		                                                
      excess tax (benefits) deficiencies from equity awards
    		                                    0            
      excess tax deficiencies from equity awards
    		                                      24,000          
      income from unconsolidated lgi/gtis joint ventures
    		                                                
      distributions from unconsolidated lgi/gtis joint ventures
    		                                                
      gain on remeasurement of interests in lgi/gtis joint ventures
    		                                                
      gain on settlement of participation fee obligation
    		                                                
      settlement of accrued bonuses with restricted stock units
    		                                                
      capital investments in unconsolidated lgi/gtis joint ventures
    		                                                
      capital distributions from unconsolidated lgi/gtis joint ventures
    		                                                
      proceeds from disposal of assets
    		                                               0 
      contributions from owners
    		                                                
      distributions to owners
    		                                                
      contributions from non-controlling interests
    		                                               0 
      tax deficiencies from equity awards
    		                                                
      proceeds from credit facilities
    		                                                
      payments on credit facilities
    		                                                
      issuance of convertible notes
    		                                                
      taxes paid on issuance of stock
    		                                                
      distributions to non-controlling interests
    		                                                
      gain on settlement of debt
    		                                                
      (receivables from) payables to related parties
    		                                               7,951 
      payment for remaining interests in unconsolidated lgi/gtis joint ventures, net of cash acquired
    		                                                
      income from unconsolidated joint ventures
    		                                                
      distributions from unconsolidated joint ventures
    		                                                
      net income on disposal of vehicles
    		                                                
      investments of capital into unconsolidated joint ventures
    		                                                
      distributions of capital from unconsolidated joint ventures
    		                                                
      contributions
    		                                                
      distributions
    		                                                
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.