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v3.26.1

Segment Information - Schedule of Financial Information About Reportable Segments and Corporate and Unallocated (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Jun. 30, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025
Segment Reporting [Line Items] |  |  |  |
Revenue | $ 516,306 | $ 545,367 | $ 1,289,643 | $ 1,579,659
Home construction and land sales expenses | 447,863 | 462,448 | 1,131,631 | 1,338,136
Inventory impairments and abandonments | 2,342 | 10,339 | 6,007 | 10,867
Commissions | 17,156 | 18,615 | 42,562 | 53,511
Sales and marketing | 20,394 | 16,863 | 58,264 | 47,903
Other general and administrative expenses | 34,992 | 36,241 | 100,305 | 104,172
Depreciation and amortization | 4,924 | 4,571 | 13,050 | 13,273
Operating income (loss) | (11,365) | (3,710) | (62,176) | 11,797
Loss on extinguishment of debt, net | (668) | 0 | (668) | 0
Other income, net | 1,532 | 1,204 | 2,743 | 3,031
Income (loss) before income taxes | (10,501) | (2,506) | (60,101) | 14,828
Operating Segments |  |  |  |
Segment Reporting [Line Items] |  |  |  |
Revenue | 516,306 | 545,367 | 1,289,643 | 1,579,659
Home construction and land sales expenses | 432,410 | 446,805 | 1,091,401 | 1,298,132
Inventory impairments and abandonments | 2,043 | 8,716 | 5,465 | 9,244
Commissions | 17,156 | 18,615 | 42,562 | 53,511
Sales and marketing | 15,363 | 12,963 | 44,025 | 37,421
Other general and administrative expenses | 15,333 | 15,742 | 44,316 | 44,941
Depreciation and amortization | 3,666 | 3,212 | 8,872 | 9,620
Operating income (loss) | 30,335 | 39,314 | 53,002 | 126,790
Operating Segments | West |  |  |  |
Segment Reporting [Line Items] |  |  |  |
Revenue | 287,324 | 329,149 | 747,684 | 1,001,921
Home construction and land sales expenses | 242,113 | 269,198 | 636,002 | 814,996
Inventory impairments and abandonments | 1,028 | 3,081 | 3,551 | 3,609
Commissions | 9,919 | 11,489 | 25,966 | 34,596
Sales and marketing | 9,106 | 7,796 | 26,665 | 22,936
Other general and administrative expenses | 8,261 | 8,031 | 24,871 | 24,632
Depreciation and amortization | 2,033 | 2,152 | 5,509 | 6,861
Operating income (loss) | 14,864 | 27,402 | 25,120 | 94,291
Operating Segments | East |  |  |  |
Segment Reporting [Line Items] |  |  |  |
Revenue | 121,533 | 149,160 | 312,117 | 379,898
Home construction and land sales expenses | 104,043 | 122,495 | 266,615 | 318,595
Inventory impairments and abandonments | 1,015 | 0 | 1,914 | 0
Commissions | 3,223 | 4,630 | 8,342 | 11,823
Sales and marketing | 3,275 | 2,865 | 9,647 | 8,267
Other general and administrative expenses | 3,685 | 4,064 | 10,644 | 10,874
Depreciation and amortization | 774 | 633 | 1,577 | 1,637
Operating income (loss) | 5,518 | 14,473 | 13,378 | 28,702
Operating Segments | Southeast |  |  |  |
Segment Reporting [Line Items] |  |  |  |
Revenue | 107,449 | 67,058 | 229,842 | 197,840
Home construction and land sales expenses | 86,254 | 55,112 | 188,784 | 164,541
Inventory impairments and abandonments | 0 | 5,635 | 0 | 5,635
Commissions | 4,014 | 2,496 | 8,254 | 7,092
Sales and marketing | 2,982 | 2,302 | 7,713 | 6,218
Other general and administrative expenses | 3,387 | 3,647 | 8,801 | 9,435
Depreciation and amortization | 859 | 427 | 1,786 | 1,122
Operating income (loss) | 9,953 | (2,561) | 14,504 | 3,797
Corporate and unallocated |  |  |  |
Segment Reporting [Line Items] |  |  |  |
Revenue | 0 | 0 | 0 | 0
Home construction and land sales expenses | 15,453 | 15,643 | 40,230 | 40,004
Inventory impairments and abandonments | 299 | 1,623 | 542 | 1,623
Commissions | 0 | 0 | 0 | 0
Sales and marketing | 5,031 | 3,900 | 14,239 | 10,482
Other general and administrative expenses | 19,659 | 20,499 | 55,989 | 59,231
Depreciation and amortization | 1,258 | 1,359 | 4,178 | 3,653
Operating income (loss) | $ (41,700) | $ (43,024) | $ (115,178) | $ (114,993)

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