Private company

Landsea Homes Corp

Landsea Homes Corp is a growth-oriented homebuilder focused on providing High Performance Homes.1 It is headquartered in Dallas, Texas.1

Last updated Oct 20, 2026.

Overview

  • IndustryOperative Builders1
  • HeadquartersDallas, Texas1
  • Business address1717 Mckinney Avenue, Suite 1000, Dallas, Tx 752022
  • Filer categoryAccelerated filer, Smaller reporting company2

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Landsea Homes is a growth-oriented homebuilder focused on providing High Performance Homes that deliver energy efficient living in attractive geographies. Headquartered in Dallas, Texas, we primarily engage in the design, construction, marketing and sale of suburban and urban single-family detached and attached homes in Arizona, California, Colorado, Florida, Texas, and Metro New York. While we offer a wide range of housing options, we primarily focus on entry-level and first-time move-up homes and believe our markets are characterized by attractive long-term housing fundamentals.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

14.7%Gross margin5
1.8%Operating margin5
1.2%Net margin6
28.1%Revenue growth, 20245
2.8%Return on equity5

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue85¢$1.3B
  • Other costs9¢$140.1M
  • Interest4¢$61.0M
  • Income tax1¢$8.1M
  • Profit1¢$18.5M

Out of $1.6B in revenue.56

Where each dollar of operating cash went, fiscal 2024

  • Share buybacks22¢$6.5M
  • Kept or used elsewhere78¢$23.1M

Out of $29.6M of cash from operations.5

Financial statements

Revenue7895$1.6B in 2024+146% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $631.0M$631.0M20192020: $734.6M$734.6M2020+16%2021: $1.0B$1.0B2021+39%2022: $1.4B$1.4B2022+41%2023: $1.2B$1.2B2023−16%2024: $1.6B$1.6B2024+28%
Gross profit7895$227.8M in 2024+129% since 2019
0$100.0M$200.0M$300.0M2019: $99.5M$99.5M20192020: $94.9M$94.9M2020−5%2021: $182.6M$182.6M2021+92%2022: $286.9M$286.9M2022+57%2023: $215.0M$215.0M2023−25%2024: $227.8M$227.8M2024+6%
Operating income107895$27.5M in 2024
-$50.0M0$50.0M$100.0M$150.0M2018: -$784.9K-$784.9K20182019: $38.1M$38.1M20192020: $4.2M$4.2M2020−89%2021: $59.5M$59.5M2021+1326%2022: $108.3M$108.3M2022+82%2023: $40.3M$40.3M2023−63%2024: $27.5M$27.5M2024−32%
Net income107896$18.5M in 2024+3026% since 2018
-$25.0M0$25.0M$50.0M$75.0M$100.0M2018: $592.9K$592.9K20182019: $17.2M$17.2M2019+2801%2020: -$9.0M-$9.0M20202021: $52.8M$52.8M20212022: $75.7M$75.7M2022+43%2023: $32.6M$32.6M2023−57%2024: $18.5M$18.5M2024−43%
Fiscal year2018201920202021202220232024
Revenue$631.0M7$734.6M8$1.0B9$1.4B5$1.2B5$1.6B5
Cost of revenue$531.5M7$639.7M8$840.7M9$1.2B5$995.0M5$1.3B5
Gross profit$99.5M7$94.9M8$182.6M9$286.9M5$215.0M5$227.8M5
Operating expenses$123.1M9$178.6M5$174.7M5$200.3M5
Operating income-$784.9K10$38.1M7$4.2M8$59.5M9$108.3M5$40.3M5$27.5M5
Interest$42.3M7$39.1M7$34.8M9$40.5M5$36.3M5$61.0M5
Income before tax$66.7M9$101.1M5$44.5M5$26.7M5
Income tax$311.2K10$6.2M7-$3.1M8$14.0M9$25.4M5$11.9M5$8.1M5
Net income$592.9K10$17.2M7-$9.0M8$52.8M9$75.7M6$32.6M6$18.5M6
Earnings per share$0.537-$0.278$1.149$1.715$0.755$0.485
Earnings per share (diluted)$0.537-$0.278$1.149$1.705$0.755$0.475
Shares (weighted, basic)45.2M shares942.1M shares538.9M shares536.3M shares5
Shares (weighted, diluted)45.3M shares942.2M shares539.1M shares536.6M shares5

Compare Landsea Homes Corp with another company

Corporate structure

Landsea Homes Corp sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Landsea Homes Corp

  • Brother Pearl Ltd Filed SCHEDULE 13G/A on Landsea Homes Corp, latest Jul 8, 2025
  • Jian Jun Yu Filed SCHEDULE 13G/A on Landsea Homes Corp, latest Jul 8, 2025 (2 filings since Dec 13, 2024)
  • Mill Road Capital III, L.P. Filed SCHEDULE 13D/A on Landsea Homes Corp, latest Jul 1, 2025 (4 filings since Dec 26, 2024)
  • GLAZER CAPITAL, LLC Filed SCHEDULE 13G on Landsea Homes Corp, latest Jun 30, 2025
  • BlackRock Portfolio Management LLC Filed SCHEDULE 13G on Landsea Homes Corp, latest Apr 15, 2025
  • BlackRock Filed SCHEDULE 13G/A on Landsea Homes Corp, latest Feb 5, 2025 (3 filings since Oct 24, 2024)
  • East West Bank Filed SCHEDULE 13G/A on Landsea Homes Corp, latest Dec 13, 2024 (2 filings since Dec 13, 2024)
  • Huaijun Chen Filed SC 13G/A on Landsea Homes Corp, latest Dec 11, 2024 (2 filings since May 29, 2024)
  • LANDSEA HOLDINGS CORP Filed SC 13D/A on Landsea Homes Corp, latest Dec 11, 2024 (14 filings since May 13, 2022)
  • Green Investment Alpha Ltd Filed SC 13G/A on Landsea Homes Corp, latest Sep 8, 2023 (2 filings since Jun 13, 2022)
  • Level Field Capital, LLC Filed SC 13G/A on Landsea Homes Corp, latest Jun 27, 2022
  • No Street GP LP Filed SC 13G/A on Landsea Homes Corp, latest Feb 14, 2022
  • Landsea Homes Corp Dallas, Texas
    • Landsea Real Estate Subsidiary · California, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Landsea Homes Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Accumulated depreciation$22.1M5 Dec 31, 2024$15.8M5 Dec 31, 2023+39.9%
Operating-lease assets (leased space)$23.4M5 Dec 31, 2024$11.9M5 Dec 31, 2023+96.8%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$53.3M5 Dec 31, 2024$119.6M5 Dec 31, 2023−55.4%
Stakes in other companies (equity method)$19.0K9 Dec 31, 2023$41.0K9 Dec 31, 2022−53.7%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$155.6M5 Dec 31, 2024$68.6M5 Dec 31, 2023+126.7%

Properties, in its own words

Our homebuilding and lot development operations own and control inventories of land, lots, and homes as part of the ordinary course of our business. We also lease approximately 84,000 square feet of office space under ongoing leases through December 2031. These properties are located in our various operating markets to house our regional and corporate offices.

Item 2 of the 10-K filed Feb 27, 2025.4

Leadership

Who has led Landsea Homes Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Backer Philippe De2019

President

  1. Michael Forsum2021–now

Chief financial officer

  1. Scott A. Reed2019
  2. Alberto Bianchinotti2020

Chief operating officer

  1. Michael Forsum2021–now
20202025
Board members and other officers (16)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Landsea Real Estate California, Inc.3
  • Landsea Real Estate, New Jersey, L.L.C.3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • LF Capital Acquisition Corp.Nov 2, 2017 to Jan 6, 20212

Timeline

  1. Jun 25, 20258-K Ended a material agreement; Completed an acquisition or sale; Listing notice or transfer33
  2. Jun 2, 20258-K Entered a material agreement34
  3. May 13, 20258-K Results of operations35
  4. May 13, 20258-K Entered a material agreement; Regulation FD disclosure; Other events36
  5. Mar 5, 20258-K Regulation FD disclosure37
  6. Feb 27, 20258-K Results of operations38
  7. Jan 22, 20258-K Executive or director change; Regulation FD disclosure39
  8. Dec 12, 20248-K Executive or director change; Other events40
  9. Dec 9, 20248-K Other events41
  10. Dec 5, 20248-K Entered a material agreement42
  11. Dec 5, 20248-K Financial statements and exhibits43
  12. Nov 4, 20248-K Results of operations44
  13. Mar 5, 2019New chief executive Backer Philippe De becomes CEO15

Calendar

When it reported results

  1. May 13, 2025Reported quarterly or annual results35
  2. Feb 27, 2025Reported quarterly or annual results38
  3. Nov 4, 2024Reported quarterly or annual results44
  4. Aug 1, 2024Reported quarterly or annual results45
  5. May 1, 2024Reported quarterly or annual results46
  6. Feb 29, 2024Reported quarterly or annual results47
  7. Nov 2, 2023Reported quarterly or annual results48
  8. Aug 1, 2023Reported quarterly or annual results49

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

326 filings to the SEC since October 2021: 6 annual reports, 11 quarterly reports, 66 major events, 152 insider forms, 37 large holders, 54 other. The latest 20:

  1. Jul 8, 2025SCHEDULE 13G/A EDGAR
  2. Jul 8, 2025SCHEDULE 13G/A EDGAR
  3. Jul 7, 202515-12G EDGAR
  4. Jul 1, 2025SCHEDULE 13D/A EDGAR
  5. Jun 30, 2025EFFECT EDGAR
  6. Jun 30, 2025SCHEDULE 13G EDGAR
  7. Jun 25, 20254 EDGAR
  8. Jun 25, 20254 EDGAR
  9. Jun 25, 20254 EDGAR
  10. Jun 25, 20254 EDGAR
  11. Jun 25, 20254 EDGAR
  12. Jun 25, 20254 EDGAR
  13. Jun 25, 20254 EDGAR
  14. Jun 25, 20254 EDGAR
  15. Jun 25, 20254 EDGAR
  16. Jun 25, 20254 EDGAR
  17. Jun 25, 2025S-8 POS EDGAR
  18. Jun 25, 2025POS AM EDGAR
  19. Jun 25, 20258-K EDGAR
  20. Jun 24, 2025SC 14D9/A EDGAR

The 326 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

77 open-market trades by officers, directors and large owners since October 2021: 48 buys and 29 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 10, 2024Tian MingDirectorSale378,260$10.25$3.9MForm 4
Dec 10, 2024CHEN HUAIJUN10% ownerSale534,783$10.25$5.5MForm 4
Dec 10, 2024LANDSEA HOLDINGS CORP10% ownerSale378,260$10.25$3.9MForm 4
Dec 9, 2024Tian MingDirectorSale2,521,740$10.25$25.8MForm 4
Dec 9, 2024CHEN HUAIJUN10% ownerSale3,565,217$10.25$36.5MForm 4
Dec 9, 2024LANDSEA HOLDINGS CORP10% ownerSale2,521,740$10.25$25.8MForm 4
Nov 21, 2024Hartfield ThomasDirectorSale5,000$10.62$53.1KForm 4
Nov 7, 2024Hartfield ThomasDirectorSale3,000$11.20$33.6KForm 4
Nov 6, 2024Hartfield ThomasDirectorSale6,986$11.15$77.9KForm 4
Aug 23, 2024Farhat EliasDirectorSale60,000$12.07$724.2KForm 4
Jun 20, 2024Tian MingDirectorSale450,000$9.53$4.3MForm 4
Jun 20, 2024LANDSEA HOLDINGS CORP10% ownerSale450,000$9.53$4.3MForm 4
Jun 12, 2024FRANK BRUCE DDirectorSale5,491$10.21$56.1KForm 4
Jun 4, 2024FRANK BRUCE DDirectorSale11,671$9.70$113.2KForm 4
May 14, 2024LANDSEA HOLDINGS CORP10% ownerSale4,100,000$6.00$24.6MForm 4
May 14, 2024Tian MingDirectorSale4,100,000$6.00$24.6MForm 4
May 8, 2024Fadule MollieDirectorBuy10,000$9.78$97.8KForm 4
Mar 8, 2024FRANK BRUCE DDirectorBuy2,155$11.60$25.0KForm 4
Mar 8, 2024Forsum MichaelChief Operating OfficerBuy17,241$11.60$200.0KForm 4
Mar 8, 2024Fadule MollieDirectorBuy8,621$11.60$100.0KForm 4

All 77 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Landsea Homes Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLandsea Homes Corp1
  • CIK0001721386
  • Employer ID (EIN)82-21960214
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)1531 Operative Builders1
  • SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
  • Business address1717 Mckinney Avenue, Suite 1000, Dallas, TX 752021
  • Phone(949) 345-80801
  • Shares outstanding36,409,560 as of May 7, 202513
  • Public float$169.5M as of Jun 30, 20244
  • AuditorDeloitte & Touche LLP, Costa Mesa, California PCAOB ID 34; it also attests to the company’s internal control over financial reporting4
  • On EDGAR sinceNov 2, 20171
  • Filings523 in all: 4 (165), 8-K (98), 3 (31), SC 13G/A (25), 424B3 (22), 10-Q (21), SC 13G (19), DEFA14A (14)1
    All 50 form types

    SC 13D/A (14), DEF 14A (9), 10-K (7), 144 (7), 4/A (7), EFFECT (6), 424B4 (5), 8-K/A (5), CORRESP (5), SCHEDULE 13G/A (5), UPLOAD (5), 10-K/A (4), POS AM (3), PRE 14A (3), S-1/A (3), SC TO-T/A (3), SCHEDULE 13D/A (3), SCHEDULE 13G (3), 25-NSE (2), 3/A (2), ARS (2), PRER14A (2), S-1 (2), SC 14D9 (2), SC TO-C (2), 15-12G (1), 8-A12B (1), CERT (1), DEFR14A (1), DFAN14A (1), DRS (1), DRS/A (1), DRSLTR (1), NT 10-Q (1), PREM14A (1), S-3 (1), S-8 (1), S-8 POS (1), SC 13D (1), SC 14D9/A (1), SC TO-T (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2025
    Quarterly report (10-Q) May 13, 2025
    Proxy statement (DEF 14A) Apr 24, 2024
    Latest 8-K (8-K) Jun 25, 2025

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.0001 per shareLSEANasdaq
Warrants exercisable for Common StockLSEAWNasdaq

From the cover page of the 10-K filed Feb 27, 2025 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks Landsea Homes Corp names in Item 1A of its 10-K filed Feb 27, 2025: 50 risks under these headings, as written.4

  • Business and Market Risks
  • Legal, Regulatory, and Compliance Risks
  • Financial and Liquidity Risks
  • Risks Related to the Ownership of Our Securities
  • Our industry is cyclical and adverse changes in general and local economic conditions could reduce the demand for homes and, as a result, could have a material adverse effect on us.
  • If we are not able to develop communities successfully and in a timely manner, our revenues, financial condition and results of operations may be adversely impacted.
  • The long-term sustainability and growth in our number of homes delivered depends in part upon our ability to acquire lots that are either developed or have the approvals necessary for us to develop them.
  • Elevated inflation or interest rates, or future increases in inflation or interest rates, could adversely affect our business and financial results.
  • The homebuilding industry is highly competitive and, if our competitors are more successful or offer better value to customers, it may materially and adversely affect our business and financial condition.
  • Our geographic concentration could materially and adversely affect us if the homebuilding industry in our current markets should experience a decline.
  • We may not be successful in completing or integrating acquisitions, expanding into new markets or implementing our growth strategies.
  • Increases in our cancellation rate may adversely impact our revenue and homebuilding margins.
The other 42 risks
  • Tightening of mortgage lending standards and mortgage financing requirements and elevated interest rates have adversely affected and could continue to affect the availability of mortgage loans for potential purchasers of our homes, and increases in property and other local taxes could prevent customers from purchasing homes, which could adversely affect our business or financial results.
  • Any limitation on, or reduction or elimination of, tax benefits associated with homeownership would have an adverse effect upon the demand for homes, which could be material to our business.
  • Third-party lenders may not complete mortgage loan originations for our homebuyers in a timely manner or at all, which can lead to cancellations and a lesser backlog of orders, or significant delays in our closing homes sales and recognizing revenues from those homes.
  • Difficulties with appraisal valuations in relation to the proposed sales price of our homes could force us to reduce the price of our homes for sale.
  • Adverse weather and geological conditions may increase costs, cause project delays and reduce consumer demand for housing, all of which could materially and adversely affect us.
  • Our business and results of operations are dependent on the availability, skill, and performance of subcontractors.
  • We rely on third-party suppliers and long supply chains, and if we fail to identify and develop relationships with a sufficient number of qualified suppliers, or if there is a significant interruption in our supply chains, our ability to timely and efficiently access raw materials that meet our standards for quality could be adversely affected.
  • Fluctuating materials prices may adversely impact our results of operations.
  • Poor relations with the residents of our communities could negatively impact sales, which could cause our revenue or results of operations to decline.
  • Our ability to be successful will depend upon the efforts of our key personnel. The loss of key personnel could negatively impact the operations and profitability of our business and our financial condition could suffer as a result.
  • Widespread illnesses or other significant public health crises have had, and may again have, a material adverse effect on our business, financial condition, and results of operations.
  • An adverse outcome in litigation to which we are or become a party could materially and adversely affect us.
  • We are subject to warranty and liability claims arising in the ordinary course of business that can be significant.
  • We may suffer uninsured losses or suffer material losses in excess of insurance limits.
  • New and existing laws and regulations or other governmental actions may increase our expenses, limit the number of homes that we can build or delay completion of our projects.
  • An information systems interruption or breach in security of our systems could adversely affect us.
  • We are subject to environmental laws and regulations, which may increase our costs, result in liabilities, limit the areas in which we can build homes and delay completion of our projects.
  • A major health and safety incident relating to our business could be costly in terms of potential liabilities and reputational damage.
  • We could be adversely affected by efforts to impose joint employer liability for labor law violations committed by subcontractors.
  • Our activities and disclosures related to sustainability expose us to numerous risks.
  • Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our financial condition and results of operations.
  • Changes in accounting rules, assumptions or judgments could materially and adversely affect us, including recent statements from the SEC regarding SPAC-related companies.
  • The CFIUS may modify, delay or prevent our future acquisition or investment activities, and U.S. state or federal laws or regulations may make it more difficult for us to operate in the United States.
  • We are the managing member in certain joint venture limited liability companies, and therefore may be liable for joint venture obligations.
  • Because homes are relatively illiquid, our ability to promptly sell one or more properties for reasonable prices in response to changing economic, financial and investment conditions may be limited and we may be forced to hold non-income producing properties for extended periods of time.
  • We may not be able to access sufficient capital on favorable terms, or at all, which could result in an inability to acquire lots, increase home construction costs or delay home construction entirely.
  • If the market value of our developed lot and home inventory decreases, our results of operations could be adversely affected by impairments of inventory.
  • We may be required to take write-downs or write-offs, restructuring and impairment or other charges that could have a significant negative effect on our financial condition, results of operations and our stock price, which could cause you to lose some or all of your investment.
  • We have outstanding indebtedness and may incur additional debt in the future.
  • A breach of the covenants under any of the agreements governing our indebtedness could result in an event of default.
  • The agreements governing our debt impose operating and financial restrictions, which may prevent us from capitalizing on business opportunities and taking some corporate actions.
  • We may be unable to obtain suitable performance, payment and completion surety bonds and letters of credit, which could limit our future growth or impair our results of operations.
  • Our quarterly operating results fluctuate due to the seasonal nature of our business.
  • Because Landsea Green holds a significant percentage of our common stock and is party to a stockholder’s agreement with us, it may influence the outcome of major corporate decisions, and the interests of Landsea Green and its affiliates, including certain of our directors, may conflict with the interests of our other stockholders.
  • A significant portion of our total outstanding shares may be sold into the market in the near future, which could depress the market price of our common stock.
  • We are a “smaller reporting company” and, as a result of the reduced disclosure and governance requirements applicable to smaller reporting companies, our common stock may be less attractive to investors.
  • The exercise of our public warrants may result in dilution to our stockholders.
  • We may redeem unexpired warrants prior to their exercise at a time that is disadvantageous to a warrant holder, thereby making the warrants worthless.
  • Nasdaq may delist our securities from trading on its exchange, which could limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions.
  • Anti-takeover provisions contained in our Second Amended and Restated Certificate of Incorporation and Second Amended and Restated Bylaws, as well as provisions of Delaware law, could impair a takeover attempt, which could limit the price investors might be willing to pay in the future for our common stock.
  • Our Second Amended and Restated Certificate of Incorporation provides that the Court of Chancery of the State of Delaware is the sole and exclusive forum for certain stockholder litigation matters, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, employees or stockholders.
  • We do not intend to pay dividends on our common stock for the foreseeable future.

Legal proceedings

See Part II, Item 8, Note 9 – Commitments and Contingencies - Legal.

The opening of Item 3, Legal Proceedings.4

Sources

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