Company: SDHC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001982518-25-000064
Chunk: 100

Company: Smith Douglas Homes Corp.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 100
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 2025Period from January 11, 2024 to June 30, 2024 20252024Numerator:Net income attributable to Smith Douglas Homes Corp., Basic$2,365 $3,646 $5,048 $6,618 Add: Net income impact from assumed redemption of all LLC Interests to common stock— 21,088 — 39,762 Less: Income tax expense on net income attributable to NCI— (4,384)— (8,267)Add: Dilutive impact of unvested RSUs— — 6 — Net income attributable to Smith Douglas Homes Corp., after adjustment for assumed redemption, Diluted$2,365 $20,350 $5,054 $38,113  Denominator:Weighted average shares of common stock outstanding, Basic8,998,4708,846,1548,983,3288,846,154Dilutive effects of:LLC Interests that are exchangeable for common stock—42,435,897042,435,897Unvested RSUs0149,923177,594132,458Weighted average shares of common stock outstanding, Diluted8,998,47051,431,9749,160,92251,414,509 Basic earnings per share$0.26 $0.41 $0.56 $0.75 Diluted earnings per share$0.26 $0.40 $0.55 $0.74 For the period from January 11, 2024 to June 30, 2024, net income attributable to the non-controlling interests added back to net income in the fully dilutive computation has been adjusted for income taxes which would have been expensed had the income been recognized by Smith Douglas Homes Corp., a taxable entity. The weighted average common shares outstanding in the diluted computation per share assumes all outstanding LLC Interests are redeemed and the Company elects to issue Class A shares of common stock upon redemption rather than cash-settle. The dilutive impact of LLC Interests assumed to be redeemed in exchange for the issuance of Class A common stock was included in the computation of diluted earnings per share under the if-converted method. For the three and six months ended June 30, 2025, the dilutive impact of 42,435,897 LLC Interests that are exchangeable for Class A common stock is not