$UHG
United Homes Group, Inc.

2023 Q2 Form 10-Q Financial Statement

#000141057823001893 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2022 Q2
Revenue $122.1M $0.00
YoY Change
Cost Of Revenue $98.17M $101.5M
YoY Change -3.24%
Gross Profit $23.92M $41.01M
YoY Change -41.68%
Gross Profit Margin 19.59%
Selling, General & Admin $16.34M $356.5K
YoY Change 4481.88% 104.79%
% of Gross Profit 68.3% 0.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $36.94K $88.39K
YoY Change -58.21% -48.01%
% of Gross Profit 0.15% 0.22%
Operating Expenses $16.34M $356.5K
YoY Change 4481.88% 104.79%
Operating Profit $7.582M -$356.5K
YoY Change -2226.71% 104.79%
Interest Expense $242.9M $489.8K
YoY Change 49492.68% 9247.14%
% of Operating Profit 3203.57%
Other Income/Expense, Net -$2.295M $3.553M
YoY Change -164.6% -150.85%
Pretax Income $248.0M $3.687M
YoY Change 6627.6% -151.51%
Income Tax $2.658M $62.88K
% Of Pretax Income 1.07% 1.71%
Net Earnings $245.4M $3.624M
YoY Change 6670.99% -150.63%
Net Earnings / Revenue 200.97%
Basic Earnings Per Share $5.10 $0.69
Diluted Earnings Per Share $4.27 $84.03K
COMMON SHARES
Basic Shares Outstanding 48.12M 37.35M
Diluted Shares Outstanding 57.87M 37.44M

Balance Sheet

Concept 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $92.70M $42.93K
YoY Change 215832.91% -89.65%
Cash & Equivalents $92.74M $42.93K
Short-Term Investments
Other Short-Term Assets $6.600M $208.2K
YoY Change 3070.18% -40.95%
Inventory $114.6M $174.0M
Prepaid Expenses $208.2K
Receivables $1.900M $3.000M
Other Receivables $9.100M $0.00
Total Short-Term Assets $224.9M $251.1K
YoY Change 89458.78% -67.27%
LONG-TERM ASSETS
Property, Plant & Equipment $639.5K $2.300M
YoY Change -72.2%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $800.0K $345.2M
YoY Change -99.77% 0.07%
Other Assets $3.500M
YoY Change
Total Long-Term Assets $21.98M $345.2M
YoY Change -93.63% 0.07%
TOTAL ASSETS
Total Short-Term Assets $224.9M $251.1K
Total Long-Term Assets $21.98M $345.2M
Total Assets $246.9M $345.5M
YoY Change -28.54% -0.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $18.00M $41.94K
YoY Change 42817.43% -37.4%
Accrued Expenses $5.400M $251.0K
YoY Change 2051.82% 218.32%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $24.70M $363.3K
YoY Change 6698.94% 83.94%
LONG-TERM LIABILITIES
Long-Term Debt $131.1M $0.00
YoY Change
Other Long-Term Liabilities $208.2M $13.53M
YoY Change 1438.71% -51.63%
Total Long-Term Liabilities $339.3M $13.53M
YoY Change 2407.61% -51.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.70M $363.3K
Total Long-Term Liabilities $339.3M $13.53M
Total Liabilities $364.0M $13.89M
YoY Change 2519.94% -50.68%
SHAREHOLDERS EQUITY
Retained Earnings -$117.9M -$13.47M
YoY Change 775.26% 232.94%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$117.1M -$13.47M
YoY Change
Total Liabilities & Shareholders Equity $246.9M $345.5M
YoY Change -28.54% -0.08%

Cashflow Statement

Concept 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $245.4M $3.624M
YoY Change 6670.99% -150.63%
Depreciation, Depletion And Amortization $36.94K $88.39K
YoY Change -58.21% -48.01%
Cash From Operating Activities $27.27M -$65.29K
YoY Change -41867.5% -91.2%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $60.00K
YoY Change -100.0% -76.92%
Acquisitions
YoY Change
Other Investing Activities $30.00K $0.00
YoY Change
Cash From Investing Activities $30.00K $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.46M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 27.27M -65.29K
Cash From Investing Activities 30.00K 0.000
Cash From Financing Activities -45.46M 0.000
Net Change In Cash -18.16M -65.29K
YoY Change 27714.37% -91.48%
FREE CASH FLOW
Cash From Operating Activities $27.27M -$65.29K
Capital Expenditures $0.00 $60.00K
Free Cash Flow $27.27M -$125.3K
YoY Change -21865.5% -87.49%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Share Based Compensation
ShareBasedCompensation
4909686
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2023Q2 us-gaap Preferred Stock Value
PreferredStockValue
CY2022Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2023Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
dei Entity Central Index Key
EntityCentralIndexKey
0001830188
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Amendment Flag
AmendmentFlag
false
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
0
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-39936
dei Entity Registrant Name
EntityRegistrantName
United Homes Group, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
85-3460766
dei Entity Address Address Line1
EntityAddressAddressLine1
90 N Royal Tower Drive,
dei Entity Address City Or Town
EntityAddressCityOrTown
Irmo
dei Entity Address State Or Province
EntityAddressStateOrProvince
SC
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
29063
dei City Area Code
CityAreaCode
844
dei Local Phone Number
LocalPhoneNumber
766-4663
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
92741831
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12238835
CY2023Q2 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
1919934
CY2022Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
1976334
CY2023Q2 uhg Inventory Homes Under Construction And Finished Homes
InventoryHomesUnderConstructionAndFinishedHomes
89756401
CY2022Q4 uhg Inventory Homes Under Construction And Finished Homes
InventoryHomesUnderConstructionAndFinishedHomes
163997487
CY2023Q2 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
24801833
CY2022Q4 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
16205448
CY2023Q2 us-gaap Other Receivables
OtherReceivables
8420919
CY2022Q4 us-gaap Other Receivables
OtherReceivables
1437235
CY2023Q2 uhg Related Party Note Receivable
RelatedPartyNoteReceivable
647106
CY2023Q2 us-gaap Purchase Options Land
PurchaseOptionsLand
16416693
CY2022Q4 us-gaap Purchase Options Land
PurchaseOptionsLand
3804436
CY2023Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
822568
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
186086
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
639470
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1385698
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
656772
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1001277
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
3495518
CY2023Q2 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
6565316
CY2022Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
6112044
CY2023Q2 us-gaap Assets
Assets
246884361
CY2022Q4 us-gaap Assets
Assets
208344880
CY2023Q2 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
18031023
CY2022Q4 us-gaap Accounts Payable Current And Noncurrent
AccountsPayableCurrentAndNoncurrent
22077240
CY2023Q2 uhg Debt And Other Affiliate Debt Current And Noncurrent
DebtAndOtherAffiliateDebtCurrentAndNoncurrent
63961416
CY2022Q4 uhg Debt And Other Affiliate Debt Current And Noncurrent
DebtAndOtherAffiliateDebtCurrentAndNoncurrent
120797006
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
656772
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1001277
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
4759106
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5465321
CY2023Q2 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
1320104
CY2023Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
208155641
CY2023Q2 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
67133585
CY2023Q2 us-gaap Liabilities
Liabilities
364017647
CY2022Q4 us-gaap Liabilities
Liabilities
149340844
CY2023Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
40000000
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
40000000
CY2023Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
764887
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
1422630
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-117903007
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
57577672
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
-117133286
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
59004036
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
246884361
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
208344880
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
122091629
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
142468681
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
216918331
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
250905541
CY2023Q2 us-gaap Cost Of Revenue
CostOfRevenue
98174149
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
101458330
us-gaap Cost Of Revenue
CostOfRevenue
176223078
us-gaap Cost Of Revenue
CostOfRevenue
182623290
CY2023Q2 us-gaap Gross Profit
GrossProfit
23917480
CY2022Q2 us-gaap Gross Profit
GrossProfit
41010351
us-gaap Gross Profit
GrossProfit
40695253
us-gaap Gross Profit
GrossProfit
68282251
CY2023Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
16335318
CY2022Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
15200745
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
33022719
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
25625795
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
7582162
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
25809606
us-gaap Operating Income Loss
OperatingIncomeLoss
7672534
us-gaap Operating Income Loss
OperatingIncomeLoss
42656456
CY2023Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2295330
CY2022Q2 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
92400
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2092615
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
263478
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
390674
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
636482
CY2023Q2 uhg Change In Fair Value Of Derivative Liabilities
ChangeInFairValueOfDerivativeLiabilities
-242342979
uhg Change In Fair Value Of Derivative Liabilities
ChangeInFairValueOfDerivativeLiabilities
-35278491
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
248020485
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
25902006
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
41494892
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
42919934
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2657726
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
636461
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
245362759
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
25902006
us-gaap Net Income Loss
NetIncomeLoss
40858431
us-gaap Net Income Loss
NetIncomeLoss
42919934
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.10
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.27
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.15
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48122141
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37347350
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42877744
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37347350
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57874253
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37444348
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48800225
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37395849
CY2021Q4 uhg Stockholders Equity Attributable To Parent As Originally Reported
StockholdersEquityAttributableToParentAsOriginallyReported
66558412
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
66558412
CY2022Q1 uhg Stockholders Equity Period Decrease Increase From Distributions And Net Transfer To Shareholders And Other Affiliates
StockholdersEquityPeriodDecreaseIncreaseFromDistributionsAndNetTransferToShareholdersAndOtherAffiliates
20766162
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1268222
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
17017928
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
64078400
CY2022Q2 uhg Stockholders Equity Period Decrease Increase From Distributions And Net Transfer To Shareholders And Other Affiliates
StockholdersEquityPeriodDecreaseIncreaseFromDistributionsAndNetTransferToShareholdersAndOtherAffiliates
24415179
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
53288
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
25902006
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
65618515
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
59004036
CY2023Q1 uhg Stockholders Equity Period Decrease Increase From Distributions And Net Transfer To Shareholders And Other Affiliates
StockholdersEquityPeriodDecreaseIncreaseFromDistributionsAndNetTransferToShareholdersAndOtherAffiliates
4193093
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
51079
CY2023Q1 uhg Adjustments To Additional Paid In Capital Forfeiture Of Private Placement Warrants
AdjustmentsToAdditionalPaidInCapitalForfeitureOfPrivatePlacementWarrants
890001
CY2023Q1 uhg Stock Issued During Period Value Reverse Recapitalization
StockIssuedDuringPeriodValueReverseRecapitalization
17870584
CY2023Q1 uhg Stock Issued During Period Value Pipe Investment
StockIssuedDuringPeriodValuePipeInvestment
9501915
CY2023Q1 uhg Stock Issued During Period Value Lock Up Agreement
StockIssuedDuringPeriodValueLockUpAgreement
4236
CY2023Q1 uhg Adjustments To Additional Paid In Capital Recognition Of Derivative Liability Related To Earnout
AdjustmentsToAdditionalPaidInCapitalRecognitionOfDerivativeLiabilityRelatedToEarnout
242211404
CY2023Q1 uhg Adjustments To Additional Paid In Capital Recognition Of Derivative Liability Related To Equity Incentive Plan
AdjustmentsToAdditionalPaidInCapitalRecognitionOfDerivativeLiabilityRelatedToEquityIncentivePlan
1189685
CY2023Q1 uhg Adjustments To Additional Paid In Capital Earnout Stock Based Compensation Expense For Uhg Employee Options
AdjustmentsToAdditionalPaidInCapitalEarnoutStockBasedCompensationExpenseForUhgEmployeeOptions
4448077
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
2932426
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-204504328
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-363261008
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
410530
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
132412
CY2023Q2 uhg Stock Issued During Period Value Stock Options Forfeited
StockIssuedDuringPeriodValueStockOptionsForfeited
479742
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
257721
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
245362759
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-117133286
uhg Exchange Rate On Retroactively Restated Of Business Combination
ExchangeRateOnRetroactivelyRestatedOfBusinessCombination
373.47
us-gaap Net Income Loss
NetIncomeLoss
40858431
us-gaap Net Income Loss
NetIncomeLoss
42919934
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
83126
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
636482
us-gaap Depreciation
Depreciation
130880
us-gaap Depreciation
Depreciation
175217
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
56543
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
335894
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
202008
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
419309
uhg Non Cash Interest Income
NonCashInterestIncome
13181
us-gaap Share Based Compensation
ShareBasedCompensation
1321510
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
408278
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
271287
uhg Fair Value Adjustment Of Contingent Earnout Liability
FairValueAdjustmentOfContingentEarnoutLiability
-42499827
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
7308915
uhg Fair Value Adjustment Of Equity Incentive Plan
FairValueAdjustmentOfEquityIncentivePlan
-87579
uhg Increase Decrease In Deferred Tax Asset
IncreaseDecreaseInDeferredTaxAsset
1625208
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
26726
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
929446
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
6983684
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-65644701
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
20490459
us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
10090631
us-gaap Increase Decrease In Deposits Outstanding
IncreaseDecreaseInDepositsOutstanding
620436
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
440212
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-797072
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6826638
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
14540918
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-408278
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-271287
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
618233
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-706215
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
672062
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
50316249
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
38588380
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59229
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
80703
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
66100
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
13807
uhg Proceedsfrompromissorynoteiissuediineexchangeforsaleoffixedassets
Proceedsfrompromissorynoteiissuediineexchangeforsaleoffixedassets
31095
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
49000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
37966
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-115896
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
42083334
us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
66000000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
87874118
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
62421057
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
136773
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
5590194
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
918453
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
469585
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
16852
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
17896302
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
58701411
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
71500000
uhg Proceeds From Pipe Investment And Lock Up
ProceedsFromPipeInvestmentAndLockUp
4720427
uhg Proceeds From Business Combination Net Of Spac Transaction Costs
ProceedsFromBusinessCombinationNetOfSpacTransactionCosts
30336068
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
257721
uhg Payment Of Transaction Costs
PaymentOfTransactionCosts
12134293
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4198
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
30148781
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50467579
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
80502996
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-11995095
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12238835
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
51504887
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
92741831
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39509792
us-gaap Interest Paid Net
InterestPaidNet
8037484
us-gaap Interest Paid Net
InterestPaidNet
1711843
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1643436
uhg Additions Of Right Of Use Lease Assets And Liabilities
AdditionsOfRightOfUseLeaseAssetsAndLiabilities
1149832
uhg Acquisition Of Developed Lots From Related Parties In Settlement Of Due From Other Affiliates
AcquisitionOfDevelopedLotsFromRelatedPartiesInSettlementOfDueFromOtherAffiliates
13520070
us-gaap Notes Issued1
NotesIssued1
665020
uhg Transfer Of Co Obligor Debt To Land Development Affiliate
TransferOfCoObligorDebtToLandDevelopmentAffiliate
8340545
uhg Transfer Of Guarantor From Gsh To Shareholder
TransferOfGuarantorFromGshToShareholder
2841034
uhg Noncash Distribution To Owner S Of Other Affiliates
NoncashDistributionToOwnerSOfOtherAffiliates
12671122
uhg Earnest Money Receivable From Other Affiliates
EarnestMoneyReceivableFromOtherAffiliates
2521626
uhg Recognition Of Previously Capitalized Deferred Transaction Costs
RecognitionOfPreviouslyCapitalizedDeferredTransactionCosts
2932426
uhg Modification To Existing Lease
ModificationToExistingLease
-43169
uhg Recognition Of Derivative Liability Related To Earnout
RecognitionOfDerivativeLiabilityRelatedToEarnout
242211404
uhg Recognition Of Derivative Liability Related To Equity Incentive Plan
RecognitionOfDerivativeLiabilityRelatedToEquityIncentivePlan
1189685
uhg Recognition Of Warrant Liability Upon Business Combination
RecognitionOfWarrantLiabilityUponBusinessCombination
1531000
CY2023Q2 uhg Forfeiture Of Private Placement Warrants Upon Business Combination
ForfeitureOfPrivatePlacementWarrantsUponBusinessCombination
890001
us-gaap Stock Issued1
StockIssued1
39933707
uhg Recognition Of Deferred Tax Asset Upon Business Combination
RecognitionOfDeferredTaxAssetUponBusinessCombination
1870310
uhg Recognition Of Income Tax Payable Upon Business Combination
RecognitionOfIncomeTaxPayableUponBusinessCombination
701871
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
-3588110
uhg Noncash Exercise Of Stock Warrants
NoncashExerciseOfStockWarrants
75
uhg Noncash Exercise Of Employee Stock Options
NoncashExerciseOfEmployeeStockOptions
128214
uhg Forfeiture Of Employee Stock Options
ForfeitureOfEmployeeStockOptions
-479742
uhg Non Cash Investing And Financing Activities
NonCashInvestingAndFinancingActivities
319713237
uhg Non Cash Investing And Financing Activities
NonCashInvestingAndFinancingActivities
14669902
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
4700000
us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
47594950
CY2023Q2 uhg Ownership Percentage
OwnershipPercentage
1
CY2023Q2 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0
uhg Transaction Costs Including Advisory Banking Legal And Other Professional Fees
TransactionCostsIncludingAdvisoryBankingLegalAndOtherProfessionalFees
25700000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Use of Estimates – </i>The preparation of the accompanying Condensed Consolidated Financial Statements in conformity with GAAP requires management to make informed estimates and judgments that affect the amounts reported in the Condensed Consolidated Financial Statements and accompanying notes. Estimates made by the Company include corporate expense allocation, useful lives of depreciable assets, revenue recognition associated with contracts recognized over time, capitalized interest, warranty reserves, share-based compensation, valuation of earnout liability, valuation of convertible note and valuation of stock warrants. Due to inherent uncertainty involved in making estimates, actual results reported in future periods may differ from those estimates.</p>
CY2023Q2 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
24801833
CY2022Q4 us-gaap Inventory Land Held For Development And Sale
InventoryLandHeldForDevelopmentAndSale
16205448
CY2023Q2 uhg Inventory Land Held For Development And Sale Portion Purchased
InventoryLandHeldForDevelopmentAndSalePortionPurchased
18415780
CY2022Q4 uhg Inventory Land Held For Development And Sale Portion Purchased
InventoryLandHeldForDevelopmentAndSalePortionPurchased
10052179
CY2023Q2 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
60633819
CY2022Q4 us-gaap Inventory Homes Under Construction
InventoryHomesUnderConstruction
141863561
CY2023Q2 us-gaap Inventory Finished Homes
InventoryFinishedHomes
29122582
CY2022Q4 us-gaap Inventory Finished Homes
InventoryFinishedHomes
22133926
uhg Consolidation Variable Interest Entity Policy Policy Textblock
ConsolidationVariableInterestEntityPolicyPolicyTextblock
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Unconsolidated Variable Interest Entities</i> - Pursuant to ASC 810 and subtopics related to the consolidation of variable interest entities (“VIEs”), management analyzes the Company’s investments and transactions under the variable interest model to determine if they are VIEs and, if so, whether the Company is the primary beneficiary. Management determines whether the Company is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion if changes to the Company’s involvement arise. To make this determination, management considers factors such as whether the Company could direct finance, determine or limit the scope of the entity, sell or transfer property, direct development or direct other operating decisions. The primary beneficiary is defined as the entity having both of the following characteristics: 1) the power to direct the activities that most significantly impact the VIE’s performance, and 2) the obligation to absorb losses and rights to receive the returns from the VIE that would be potentially significant to the VIE. Management consolidates the entity if the Company is the primary beneficiary or if a standalone primary beneficiary does not exist and the Company and its related parties collectively meet the definition of a primary beneficiary. If the investment does not qualify as a VIE under the variable interest model, management then evaluates the entity under the voting interest model to assess if consolidation is appropriate.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company has entered into a shared services agreement with a related party that operates in the land development business to provide accounting, IT, HR, and other administrative support services and receive property maintenance services and due diligence and negotiation assistance with purchasing third party finished lots. Management has analyzed and concluded that it has a variable interest </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">in this entity through the services agreement that provides the Company with the obligation to absorb losses and the right to receive benefits based on fees that are below market rates. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Additionally, the Company enters into lot option purchase agreements with the same related party and other related parties to procure land or lots for the construction of homes. Under these contracts, the Company funds a stated deposit in consideration for the right, but not the obligation, to purchase land or lots at a future point in time. Under the terms of the option purchase contracts, the option deposits are not refundable. Management determined it holds a variable interest through its potential to absorb some of the related parties’ first dollar risk of loss by placing a non-refundable deposit. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Management determined that these related parties are VIEs, however, the Company is not the primary beneficiary of the VIEs as it does not have the power to direct the VIEs’ significant activities related to land development. Accordingly, the Company does not consolidate these VIEs. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of June 30, 2023 the Company recognized $187,828 of assets related to the services agreement included within Due from related party on the Condensed Consolidated Balance Sheets, and $13,722,475 of assets related to lot purchase agreements included within Lot purchase agreement deposits on the Condensed Consolidated Balance Sheets. There were no amounts associated with these agreements as of December 31, 2022. The Company determined these amounts to be the maximum exposure to loss due to involvement with the VIEs as the Company does not provide any financial guarantees or support to these related parties. </p>
CY2023Q2 uhg Purchase Agreement Deposits Outstanding Related Party
PurchaseAgreementDepositsOutstandingRelatedParty
13722475
CY2023Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
482700
CY2022Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1373668
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
973680
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
1826433
CY2022Q4 us-gaap Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
0
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
969337
uhg Cost Of Sales Write Off Of Forfeited Purchase Option Deposits
CostOfSalesWriteOffOfForfeitedPurchaseOptionDeposits
15655
uhg Cost Of Sales Write Off Of Forfeited Purchase Option Deposits
CostOfSalesWriteOffOfForfeitedPurchaseOptionDeposits
113685
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
34168
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
656772
CY2023Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
87492
CY2022Q2 us-gaap Short Term Lease Cost
ShortTermLeaseCost
20260
us-gaap Short Term Lease Cost
ShortTermLeaseCost
182873
us-gaap Short Term Lease Cost
ShortTermLeaseCost
54515
CY2023Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
1
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
11.50
uhg Term For Which Shares Or Warrants Not Transferable Assignable Or Salable
TermForWhichSharesOrWarrantsNotTransferableAssignableOrSalable
P30D
uhg Common Stock Warrants Exercised
CommonStockWarrantsExercised
0
CY2023Q2 uhg Common Stock Warrants Exercised
CommonStockWarrantsExercised
0
CY2022Q1 uhg Number Of Freestanding Financial Instruments
NumberOfFreestandingFinancialInstruments
2
CY2022Q1 uhg Proceeds From Freestanding Instruments Issued
ProceedsFromFreestandingInstrumentsIssued
75000000.0
CY2022Q1 uhg Proceeds Allocated To Notes
ProceedsAllocatedToNotes
70200000
CY2022Q1 uhg Proceeds Allocated To Shares
ProceedsAllocatedToShares
4800000
CY2023Q2 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
141200000
CY2023Q2 us-gaap Land Under Purchase Options Not Recorded
LandUnderPurchaseOptionsNotRecorded
178792611
CY2022Q4 us-gaap Land Under Purchase Options Not Recorded
LandUnderPurchaseOptionsNotRecorded
65451928
CY2023Q2 uhg Purchase Option Total Contract Value
PurchaseOptionTotalContractValue
195209304
CY2022Q4 uhg Purchase Option Total Contract Value
PurchaseOptionTotalContractValue
69256364
CY2023Q2 us-gaap Purchase Options Land
PurchaseOptionsLand
16416693
CY2023Q2 uhg Purchase Agreement Deposits Outstanding Related Party
PurchaseAgreementDepositsOutstandingRelatedParty
13722475
CY2023Q2 uhg Cost Of Sales Write Off Of Forfeited Purchase Option Deposits
CostOfSalesWriteOffOfForfeitedPurchaseOptionDeposits
6991
CY2022Q2 uhg Cost Of Sales Write Off Of Forfeited Purchase Option Deposits
CostOfSalesWriteOffOfForfeitedPurchaseOptionDeposits
24324
CY2023Q2 uhg Fair Value Transfer From Levels Amount
FairValueTransferFromLevelsAmount
0
CY2022Q4 uhg Fair Value Transfer From Levels Amount
FairValueTransferFromLevelsAmount
0
CY2023Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
1101528
CY2022Q1 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
1070198
CY2022Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
1250460
CY2021Q4 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
1190318
CY2023Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
1906390
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
900753
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
4144290
us-gaap Real Estate Inventory Capitalized Interest Costs Incurred
RealEstateInventoryCapitalizedInterestCostsIncurred
1738533
CY2023Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
2159967
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
1001614
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
4546799
us-gaap Real Estate Inventory Capitalized Interest Costs Cost Of Sales1
RealEstateInventoryCapitalizedInterestCostsCostOfSales1
1959514
CY2023Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
847951
CY2022Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
969337
CY2023Q2 us-gaap Real Estate Inventory Capitalized Interest Costs
RealEstateInventoryCapitalizedInterestCosts
847951
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1819691
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3022629
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1180221
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1636931
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
639470
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1385698
CY2023Q2 us-gaap Depreciation
Depreciation
36938
CY2022Q2 us-gaap Depreciation
Depreciation
88388
us-gaap Depreciation
Depreciation
130880
us-gaap Depreciation
Depreciation
175217
CY2022Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
120797006
uhg Outstanding Debt Balance
OutstandingDebtBalance
0
CY2023Q2 uhg Overhead Costs Allocated To Related Party
OverheadCostsAllocatedToRelatedParty
261248
uhg Overhead Costs Allocated To Related Party
OverheadCostsAllocatedToRelatedParty
447060
CY2023Q2 uhg Street Maintenance Related Party
StreetMaintenanceRelatedParty
11847
uhg Street Maintenance Related Party
StreetMaintenanceRelatedParty
71672
CY2023Q2 us-gaap Purchase Options Land
PurchaseOptionsLand
16416693
CY2022Q4 us-gaap Purchase Options Land
PurchaseOptionsLand
3804436
CY2023Q2 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P5Y
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
186348
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
163283
us-gaap Operating Lease Expense
OperatingLeaseExpense
387787
us-gaap Operating Lease Expense
OperatingLeaseExpense
322962
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
8534
CY2022Q2 us-gaap Variable Lease Cost
VariableLeaseCost
17989
us-gaap Variable Lease Cost
VariableLeaseCost
20459
us-gaap Variable Lease Cost
VariableLeaseCost
36226
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0559
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0317
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M7D
CY2022 uhg Number Of Units In Sale Leaseback Arrangement
NumberOfUnitsInSaleLeasebackArrangement
19
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
67425
us-gaap Operating Lease Cost
OperatingLeaseCost
136050
CY2023Q2 us-gaap Contractual Obligation Future Minimum Payments Due Remainder Of Fiscal Year
ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
241156
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
292992
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
108792
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
48000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
690940
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2755140
CY2023Q2 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.64
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P4Y
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
5.34
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
870567
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2755140
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.64
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1494
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
2.81
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
95329
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.81
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3528884
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.70
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
194206
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
2.81
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4400000
CY2021Q1 uhg Defined Contribution Plan Employer Matching Contribution Percent Of Employees Gross Pay Two
DefinedContributionPlanEmployerMatchingContributionPercentOfEmployeesGrossPayTwo
0.02
CY2021Q1 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.04
CY2021Q1 uhg Defined Contribution Plan Vesting Percentage After Completing Six Years Of Service
DefinedContributionPlanVestingPercentageAfterCompletingSixYearsOfService
1
CY2021Q1 uhg Defined Contribution Plan Service Term Required For Full Vesting
DefinedContributionPlanServiceTermRequiredForFullVesting
P6Y
CY2023Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
37035
uhg Derivative Instrument Contingent Consideration Liability Earnout
DerivativeInstrumentContingentConsiderationLiabilityEarnout
0
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2657726
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
636461
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.262
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
us-gaap Income Tax Expense Benefit Continuing Operations Adjustment Of Deferred Tax Asset Liability
IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability
1199454
CY2021Q1 uhg Defined Contribution Plan Employer Matching Contribution Percent Of Employees Gross Pay One
DefinedContributionPlanEmployerMatchingContributionPercentOfEmployeesGrossPayOne
0.03
CY2021Q1 uhg Defined Contribution Plan Employer Matching Contribution Percent Of Match One
DefinedContributionPlanEmployerMatchingContributionPercentOfMatchOne
1
CY2021Q1 uhg Defined Contribution Plan Employer Matching Contribution Percent Of Match Two
DefinedContributionPlanEmployerMatchingContributionPercentOfMatchTwo
0.50
CY2022Q2 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
60693
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
117112
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
98345
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
245362759
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
25902006
us-gaap Net Income Loss
NetIncomeLoss
40858431
us-gaap Net Income Loss
NetIncomeLoss
42919934
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
245362759
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
25902006
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
40858431
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
42919934
CY2023Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
2523450
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
2523450
CY2023Q2 uhg Change In Fair Value Of Stock Options Liability Classified Net Of Tax
ChangeInFairValueOfStockOptionsLiabilityClassifiedNetOfTax
-745263
uhg Change In Fair Value Of Stock Options Liability Classified Net Of Tax
ChangeInFairValueOfStockOptionsLiabilityClassifiedNetOfTax
-56333
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
247140946
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
25902006
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
43325548
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
42919934
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
48122141
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37347350
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
42877744
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37347350
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57874253
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37444348
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
48800225
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37395849
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.10
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.69
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.95
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.15
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.27
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.69
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.89
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.15
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2171288
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
138423
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
21886378

Files In Submission

Name View Source Status
0001410578-23-001893-index-headers.html Edgar Link pending
0001410578-23-001893-index.html Edgar Link pending
0001410578-23-001893.txt Edgar Link pending
0001410578-23-001893-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R78.htm Edgar Link pending
R79.htm Edgar Link pending
R8.htm Edgar Link pending
R80.htm Edgar Link pending
R81.htm Edgar Link pending
R82.htm Edgar Link pending
R83.htm Edgar Link pending
R84.htm Edgar Link pending
R85.htm Edgar Link pending
R86.htm Edgar Link pending
R87.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
uhg-20230630.xsd Edgar Link pending
uhg-20230630x10q.htm Edgar Link pending
uhg-20230630xex31d1.htm Edgar Link pending
uhg-20230630xex31d2.htm Edgar Link pending
uhg-20230630xex32d1.htm Edgar Link pending
uhg-20230630xex32d2.htm Edgar Link pending
uhg-20230630_cal.xml Edgar Link unprocessable
uhg-20230630_def.xml Edgar Link unprocessable
uhg-20230630_lab.xml Edgar Link unprocessable
uhg-20230630_pre.xml Edgar Link unprocessable
uhg-20230630x10q_htm.xml Edgar Link completed