Quarter ended September 30, 2026.
| Closings | 1,222 (↑10%) |
| Revenue | $444.5M (↑10%) |
| Gross margin | 20.2% |
| Cancellation rate | 48.9% |
From the call
“As other builders move away from the spec business, we’re well-positioned with move-in-ready homes that give buyers certainty on price, payment, and timing.”
Selling is not the hard part at the entry level; getting the buyer to closing is. Nearly half of LGI’s buyers cancelled, mostly because they could not qualify for a mortgage.
Source: LGI Homes 8-K and earnings call.
