Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 48

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 48
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755 $164 $837 

Note 5 - InventoriesThe following table and descriptions summarize the Company’s inventory (in thousands):September 30, 2025December 31, 2024Pre-acquisition land costs$9,412 $4,737 Developed lots29,688 15,491 Homes under construction57,934 43,982 Finished homes77,582 75,060 Total inventories$174,616 $139,270 The Company capitalizes into inventories interest costs incurred on homes under construction during the construction period until they are substantially complete. A summary of capitalized interest is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2025202420252024Capitalized interest at beginning of the period:$2,003 $2,776 $3,149 $3,026 Interest incurred3,632 5,677 10,463 16,319 Interest expensed:Included in cost of sales(1,159)(1,525)(4,292)(6,697)Directly to interest expense(2,206)(3,650)(7,050)(9,370)Capitalized interest at end of the period:$2,270 $3,278 $2,270 $3,278 

16

Note 6 - DebtThe following table and descriptions summarize the amounts outstanding under the Company’s syndicated line of credit and term loan (dollars presented in thousands): September 30, 2025Weighted average interest rateOutstanding Balance Syndicated line of creditWells Fargo Bank7.58 %$21,584 Regions Bank7.58 %18,264 Flagstar Bank7.58 %16,603 United Bank7.58 %13,283 Third Coast Bank7.58 %9,962 Total Syndicated line of credit$79,696 Term loan, net11.59 %$67,356 December 31, 2024Weighted average interest rateOutstanding BalanceSyndicated line of creditWells Fargo Bank8.41 %$13,595 Regions Bank8.41 %11,503 Flagstar Bank8.41 %10,458 United Bank8.41 %8,366 Third Coast Bank8.41 %6,274 Total Syndicated line of credit$