Company: UHG
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001830188-25-000036
Chunk: 20

Company: United Homes Group, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 — — — — — Derecognition of derivative liability— — — — 113 — 113 Stock-based compensation expense— — — — 1,957 — 1,957 Net income— — — — — 18,180 18,180 Balance as of March 31, 202521,628,512 $2 36,973,876 $4 $55,990 $31,104 $87,100 

Common stockAdditional paid-in capitalAccumulated deficitTotal Stockholders' equityClass AClass BSharesAmountSharesAmountBalance as of December 31, 202311,382,282 $1 36,973,876 $4 $2,794 $(33,982)$(31,183)Exercise of employee stock options1,307 — — — 7 — 7 Stock-based compensation expense— — — — 1,510 — 1,510 Issuance of shares related to restricted stock units14,000 — — — — — — Net income— — — — — 24,938 24,938 Balance as of March 31, 202411,397,589 $1 36,973,876 $4 $4,311 $(9,044)$(4,728)

The accompanying unaudited Notes to the Condensed Consolidated Financial Statements are an integral part of these statements.

5

UNITED HOMES GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Three Months Ended March 31,20252024Cash flows from operating activities:Net income$18,180 $24,938 Adjustments to reconcile net income to net cash flows from operating activities:Credit loss(6)(21)Investment earnings in joint venture(222)(318)Depreciation expense40 51 Loss on disposal of property and equipment5 20 Amortization of intangible assets101 87 Amortization of deferred financing costs380 314 Amortization of discount on Convertible Notes— 488 Amortization of discount on private investor debt— 56 Amortization of discount on term loan80 — Stock-based compensation expense1