Company: SDHC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049591
Chunk: 106

Company: Smith Douglas Homes Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 106
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 home closings, and ASP of homes closed for the periods presented, in each of our reportable segments (dollar amounts in thousands):

Three months endedSeptember 30,20252024Period over period changeHome closingrevenueHome closingsASP ofhomes closedHome closingrevenueHome closingsASP ofhomes closedHome closingrevenueHome closings ASP ofhomes closed Southeast$166,625493$338$189,128534$354(12)%(8)%(5)%Central95,41629532388,7072783198%6%1%Total$262,041788$333$277,835812$342(6)%(3)%(3)%

Nine months endedSeptember 30,20252024Period over period changeHome closingrevenueHome closingsASP ofhomes closedHome closingrevenueHome closingsASP ofhomes closedHome closingrevenueHome closingsASP ofhomes closedSoutheast$446,1101,292$345$417,0151,186$3527%9%(2)%Central264,577836316270,962845321(2)%(1)%(2)%Total$710,6872,128$334$687,9772,031$3393%5%(1)%

Cost of home closings

Cost of home closings for the three months ended September 30, 2025, was $207.1 million, an increase of $2.9 million, or 1%, from $204.1 million for the three months ended September 30, 2024, which was primarily driven by a 5% increase in the average cost of home closings, partially offset by a 3% decrease in home closings. Cost of home closings for the nine months ended September 30, 2025, was $550.2 million, an increase of $44.5 million, or 9%, from $505.8 million for the nine months ended September 30, 2024, which was primarily driven by a 5% increase in home closings and a 4% increase in the average cost of home closings. 

Home closing gross profit

Home closing gross profit for the three months ended September 30, 2025 was $55.0 million, a decrease of $18.7 million, or 25%, from $73.7 million for the three months ended September 30, 2024. Home closing gross margin, expressed as a percentage and