Company: UHG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001830188-25-000012
Chunk: 1

Company: United Homes Group, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 1
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 the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Forvis Mazars, LLP

We have served as the Company’s auditor since 2021.

Tysons, VA

March 14, 2025

52

UNITED HOMES GROUP, INC.

CONSOLIDATED BALANCE SHEETS

December 31, 2024December 31, 2023ASSETSCash and cash equivalents$22,628,933 $56,671,471 Restricted cash2,920,136 — Accounts receivable, net4,121,964 1,661,206 Inventories139,270,286 182,809,702 Real estate inventory not owned8,444,854 — Due from related party, net187,688 88,000 Related party note receivable531,789 610,189 Income tax receivable2,078,823 — Lot deposits48,152,609 33,015,812 Investment in joint venture691,449 1,430,177 Property and equipment, net759,336 1,073,961 Operating right-of-use assets2,778,559 5,411,192 Deferred tax asset, net15,248,494 2,405,417 Prepaid expenses and other assets8,283,294 7,763,565 Goodwill9,279,676 5,706,636 Total Assets$265,377,890 $298,647,328 LIABILITIES AND STOCKHOLDERS' EQUITYAccounts payable$17,804,125 $38,680,764 Homebuilding debt and other affiliate debt50,196,208 80,451,429 Liabilities from real estate inventory not owned6,584,102 — Income tax payable— 1,128,804 Other accrued expenses and liabilities14,660,524 8,