)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Landsea Homes (LSEA) investor relations material
Landsea Homes Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary13 May, 2025
Executive summary
Home sales revenue rose 2% year-over-year to $299.4M, with a 27% increase in deliveries, driven by the Antares acquisition in Texas and improvements in Florida, offset by declines in California and a 20% drop in average selling price.
Net loss was $7.3M ($0.20 per share) for Q1 2025, compared to net income of $0.7M in Q1 2024, reflecting higher incentives, increased interest costs, and lower gross margins.
Net new orders rose 11% year-over-year, with a sales pace of 3.0 homes per community per month, but backlog fell 32% in units and 39% in value.
Demand improved as the quarter progressed, driven by lower mortgage rates and increased incentives; 67% of Q1 deliveries were sold in the same quarter.
A merger agreement was signed in May 2025 for a cash tender offer at $11.30 per share.
Financial highlights
Total revenue was $310.8M, up from $294.0M year-over-year, with 643 homes delivered in Q1 2025.
Gross margin before inventory impairments was 13.5%; adjusted gross margin was 20%.
Inventory impairment of $1.5M impacted gross margin; SG&A was 17% of home sales revenue, up 180 basis points.
Adjusted net loss was $1.7M ($0.05 per share).
Ended the quarter with $256M in liquidity, including $52.3M in cash and $204M available under the revolver.
Outlook and guidance
Incentive levels expected to remain elevated through 2025, fluctuating with mortgage rates; Q2 incentives anticipated in the 7%-9% range.
Management expects continued challenges from high mortgage rates and affordability concerns, with stabilization in absorption and cancellation rates.
The company anticipates increasing backlog in coming quarters as quick move-in homes convert faster.
Optimism for long-term industry outlook due to housing supply needs and homeownership demand.
Explain the decrease in home sales gross margin.
Why did average selling prices decrease?
Assess Landsea's asset-light strategy impact.
Impact of 50-50 spec/build-to-order strategy on margins
Q2 incentive levels impact on gross margins?
How does High Performance Homes differentiate Landsea?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Landsea Homes Corporation is a residential homebuilder focused on designing and constructing homes in high-growth markets across the United States. The company specializes in single-family homes, townhomes, and condominiums, emphasizing energy-efficient and sustainable building practices. Its operations span regions such as California, Arizona, Florida, and Texas. The company is headquartered in Dallas, Texas, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage