Dream Homes & Development Corporation reported significant financial performance improvements for the third quarter and the first nine months of 2025, as detailed in its latest 10-Q filing. For the three months ended September 30, 2025, the company generated revenue of $3.01 million from construction contracts, a 37.7% increase from $2.18 million in the same period of 2024. For the nine-month period, revenue rose to $6.97 million, up 61.7% from $4.31 million year-over-year. The gross profit for the third quarter was $2.38 million, compared to $1.42 million in the prior year, while the nine-month gross profit increased to $3.62 million from $1.17 million.
The company also reported a net income of $302,250 for the third quarter of 2025, a decrease from $925,632 in the same quarter of 2024. However, for the nine months ended September 30, 2025, net income surged to $367,503, compared to $59,167 in the previous year. The increase in revenue and gross profit was attributed to higher construction activity and improved project management, despite a rise in operating expenses, which totaled $191,231 for the third quarter, up from $106,938 in 2024.
In terms of operational developments, Dream Homes & Development Corporation's total assets decreased to $9.17 million as of September 30, 2025, down from $11.52 million at the end of 2024. Current assets also fell significantly, primarily due to a reduction in inventories, which decreased from $7.37 million to $5.46 million. The company’s total liabilities decreased to $6.64 million from $8.64 million, reflecting a reduction in accounts payable and accrued expenses. The company’s stockholders’ equity attributable to Dream Homes decreased to $(246,715) from $2.39 million, largely due to distributions made to shareholders.
The company’s workforce has expanded, with the number of common shares outstanding increasing to 48,564,493 from 47,414,493. This increase is indicative of the company's strategic decisions to enhance its capital structure and support growth initiatives. The filing also noted that two customers accounted for 12% and 10% of accounts receivable as of September 30, 2025, compared to three customers comprising 50%, 23%, and 12% of accounts receivable at the end of 2024, indicating a shift in customer concentration.
Looking ahead, Dream Homes & Development Corporation expressed optimism about its growth trajectory, citing ongoing demand for residential construction and development projects. The company plans to continue focusing on expanding its market presence and enhancing operational efficiencies. Management indicated that they are evaluating potential acquisitions and partnerships to further strengthen their position in the market, while also managing costs and improving profitability.
About Dream Homes & Development Corp.
Dream Homes & Development Corporation is a regional real estate developer specializing in constructing single and multi-family homes, townhomes, and modular buildings. The company develops residential communities, improves land for sale, and offers Build to Lease and Improved Lots for Sale to national builders. Its core value lies in providing turn-key solutions, capitalizing on housing shortages, and serving markets in New Jersey’s Atlantic and Ocean counties.
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