LGI Homes, Inc.
lgihomes.comWhat Do They Do?
Builds and sells move-in-ready entry-level homes to first-time buyers and luxury homes to move-up buyers. Also sells homes in bulk to real estate investors for rental properties.
10-K for FY2025, filed Feb 20, 2026We generate revenues primarily by delivering move-in ready entry-level and move-up spec homes sold under our LGI Homes brand and our luxury…View ↗
Retail homes sold under both our LGI Homes brand and Terrata Homes brand focus on providing move-in ready homes with standardized features…View ↗
Wholesale homes are primarily sold under a bulk sales agreement and focus on providing move-in ready homes with standardized features to…View ↗
How Do They Make Money?
Homebuyers and investors pay for completed homes at closing; the title company generally sends proceeds within a few business days.
10-K for FY2025, filed Feb 20, 2026Retail homes sold under both our LGI Homes brand and Terrata Homes brand focus on providing move-in ready homes with standardized features…View ↗
Wholesale homes are primarily sold under a bulk sales agreement and focus on providing move-in ready homes with standardized features to…View ↗
Our contracts with customers include a single performance obligation to transfer a completed home to the customer. We generally determine…View ↗
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10-K for FY2025, filed Feb 20, 2026
FY2025 revenue by product or service ↗
$1.7B
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10-K for FY2025, filed Feb 20, 2026
$1.7B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Retail
Sold outright
10-K for FY2025, filed Feb 20, 2026 |
86%
FY2022: 85%
|
Retail, FY2025
$1.5B Sources
|
Sold outright |
|
Wholesale
Sold outright
10-K for FY2025, filed Feb 20, 2026 |
14%
FY2022: 15%
|
Wholesale, FY2025
$230.3M Sources
|
Sold outright |
Who Are Their Customers?
First-time and move-up buyers generally work directly with LGI sales professionals at information centers, though some business comes through realtors; institutional purchasers buy through bulk sales agreements.
10-K for FY2025, filed Feb 20, 2026While a proportion of our business comes from realtors, our marketing efforts are principally designed to connect directly with potential…View ↗
Our commission-based sales professionals are trained to learn about the current housing situation of the customer, educate them on the…View ↗
Retail homes sold under both our LGI Homes brand and Terrata Homes brand focus on providing move-in ready homes with standardized features…View ↗
Wholesale homes are primarily sold under a bulk sales agreement and focus on providing move-in ready homes with standardized features to…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 4 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$140.9M.
10-K for FY2025, filed Feb 20, 2026
$79.8MView ↗
10-K for FY2025, filed Feb 20, 2026
$72.6MView ↗
10-K for FY2025, filed Feb 20, 2026
−$140.9MView ↗
How Are They Changing?
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Aug 4, 2026
Raised sales-price and homebuilding gross-margin guidance
The company raised its full-year ranges for average sales price per home closed and gross margin.
Sources
8-K, filed Aug 4, 2026
LGI Homes, Inc. Reports Strong Second Quarter 2026 Results and Increases Full-Year 2026 Average Sales Price and Homebuilding Gross Margin…View ↗
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Jun 10, 2026
Changed its independent audit firm
The audit committee dismissed Ernst & Young and appointed Deloitte for the fiscal year ending December 31, 2026.
Sources
8-K, filed Jun 10, 2026
The Audit Committee of the Board of Directors (the “Audit Committee”) of LGI Homes, Inc. (the “Company”) conducted a competitive selection…View ↗
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Apr 28, 2026
Raised full-year gross-margin guidance
The company increased its full-year gross-margin and adjusted gross-margin ranges.
Sources
8-K, filed Apr 28, 2026
“The performance to date in 2026 reinforces our confidence in the full‑year guidance we shared on our last call. Additionally, based on…View ↗
Shrinking. Revenue fell 44% in 4 years, from $3.1B in FY2021 to $1.7B in FY2025, about 14% a year.
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