Company: UHG
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001830188-25-000036
Chunk: 75

Company: United Homes Group, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 75
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Derecognition of derivative liability— — (113)— Change in fair value (17,976)(860)(90)14 Liability at March 31, 2025$10,237 $2,047 $72 $849 

Note 5 - InventoriesThe following table and descriptions summarize the Company’s inventory (in thousands):March 31, 2025December 31, 2024Pre-acquisition land costs$6,155 $4,737 Developed lots21,467 15,491 Homes under construction36,344 43,982 Finished homes74,483 75,060 Total inventory$138,449 $139,270 

13

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 March 31,20252024Capitalized interest at beginning of the period:$3,149 $3,026 Interest incurred3,429 5,170 Interest expensed:Included in cost of sales(1,501)(3,513)Directly to interest expense(2,461)(2,142)Capitalized interest at end of the period:$2,616 $2,541 

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): March 31, 2025Weighted average interest rateOutstanding balance Syndicated line of creditWells Fargo Bank7.60 %$14,407 Regions Bank7.60 %12,190 Flagstar Bank7.60 %11,083 United Bank7.60 %8,866 Third Coast Bank7.60 %6,650 Total Syndicated line of credit$53,196 Term loan, net11.61 %$67,230 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$50,196 Term loan,