10-K · February 24, 2026
Dream Finders continues to emphasize an asset-light lot acquisition strategy while expanding its Financial Services vertical via acquisitions (Alliant Title in April 2025 and consolidation of Jet HomeLoans on July 1,…
Earnings analysis · 10-Q
DFH earnings analysis
Filed April 30, 2026 · Our reading of the company's report
The latest report
Dream Finders Homes reported Q1 2026 results showing a revenue of $887.8 million, up from $990 million in the previous quarter, marking a revenue surprise of 7.4%. However, EPS fell to $0.11, significantly missing…
Read full summary
Dream Finders Homes reported Q1 2026 results showing a revenue of $887.8 million, up from $990 million in the previous quarter, marking a revenue surprise of 7.4%. However, EPS fell to $0.11, significantly missing estimates and reflecting a decline from $0.54 in the prior year. The management indicated ongoing challenges in the housing market due to elevated mortgage rates and cautious consumer sentiment, affecting profit margins and sales performance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.11
- Gross margin
- 14.5%
- Segment
- Homebuilding: $836.7M, Financial Services: $51.2M
What stood out
-
Revenue Increases Quarter-over-Quarter
Revenue rose to $887.84 million from $990 million last quarter, exceeding estimates.
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EPS Decline
Reported diluted EPS was $0.11, down from $0.54 in Q1 2025.
-
Cash Position Improves
Cash and cash equivalents increased to $435.4 million from $297.5 million year-over-year.
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Cancellation Rate Improved
Cancellation rate improved to 7.5%, down from 11.7% a year ago.
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Active Communities Increased
Total active communities rose to 332, up from 258 a year prior.
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Financial Services Revenue Growth
Financial services revenues surged to $51.2 million, up from $19.8 million in Q1 2025.
What to watch
-
Profit Margins Under Pressure
Homebuilding gross margin fell to 14.5% from 19.2% year-over-year due to heightened land and financing costs.
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Backlog Decline
Total backlog units decreased by 425 homes to 2,377, representing a 15% drop from the previous year.
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Segment Revenue Declines
Homebuilding revenues fell in Southeast, Midwest and Mid-Atlantic segments by 11%, 22%, and 3% respectively.
Management's outlook
Management maintains guidance of approximately 9,250 home closings for 2026.
Earlier filings 4
10-Q · October 30, 2025
Revenue for the three months ended September 30, 2025 fell to $969,804 (per filing) and diluted EPS declined to $0.47, driven by lower homebuilding revenue partially offset by a growing Financial Services business and…
10-K · February 29, 2024
Dream Finders Homes positions itself as an asset-light homebuilder focused on entry-level through active adult single-family homes and integrated financial services, operating across four reportable segments (Southeast,…
10-Q · November 2, 2023
Dream Finders Homes reported Q3 revenue of $895.83M (up $110.16M or ~14.0% YoY) and diluted EPS of $0.75 (up $0.11 or ~17.2% YoY). Gross margin expanded to ~20.82% from ~18.74% a year ago and income before taxes rose to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.