Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 40

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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 $2,000 and $0.1 million for the three months ended March 31, 2025 and 2024, respectively, which are included in selling, general and administrative costs in the accompanying unaudited condensed consolidated statements of income.The Company has related party receivables totaling approximately $0.1 million as of both March 31, 2025 and December 31, 2024 for various expenses paid by the Company on behalf of the related party, which are included in other assets in the accompanying unaudited condensed consolidated balance sheets.

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Note 14 ‑ Segment information:

The Company operates one principal homebuilding business that is organized, managed and reported by geographic division. Management of the eight geographic divisions report to the Company's chief operating decision maker (CODM), which consists of the Chief Executive Officer and Chief Financial Officer of the Company. The CODM is regularly provided operating results of individual operating segments. These operating results include key operating metrics which inform the CODM's decisions regarding the allocation of resources and the assessment of the Company's overall operational performance. These operating results are reviewed against actual and budgeted figures, with income before income taxes (segment profit) being the key operating metric used to measure segment profit or loss. The Company's operating segments are aggregated into two reportable segments: Southeast and Central. The Southeast segment consists of the Atlanta, Central Georgia, Charlotte, Greenville, and Raleigh divisions. The Central segment consists of the Alabama, Houston, and Nashville divisions. Each reportable segment follows the accounting policies described in Note 1. As the Central Georgia and Greenville divisions were formed in the second half of 2024, segment information disclosed for the three months ended March 31, 2024 does not include these divisions.The following tables summarize financial information by segment (in thousands):Three months ended March 31, 2025SoutheastCentralTotalHome closing revenue$138,218 $86,504 $224,722 Cost of home closings101,144 70,048 171,192 Home closing gross profit37,074 16,456 53,530 Less:(1)Selling, general, and administrative expenses(2)13,186 8,604 21,790 Other segment items(3)33 842 875 Segment profit23,855 7,010 30,865 Corporate selling, general, and administrative costs(4)11,209 Other corporate items(5)89 Income before income