Company: SDHC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049591
Chunk: 139

Company: Smith Douglas Homes Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 139
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 September 30, 2025 compared to the same period in the prior year was primarily due to a $11.1 million decrease in home closing gross profit and a $8.6 million increase in selling, general and administrative costs.

Central: The $4.4 million and $14.6 million decreases in net income for the three and nine months ended September 30, 2025 compared to the same periods in the prior year was primarily due to decreases in home closing gross profit of $2.5 million and $10.7 million, respectively, and increases in selling, general, and administrative costs of $1.6 million and $2.8 million, respectively.

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Backlog homes

The following table sets forth our backlog homes and contract value and ASP of backlog homes by reportable segment for the periods presented, along with their period-to-period change (dollar amounts in thousands):

As of September 30,20252024Period over period change BackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesSoutheast430$151,463$352584$211,339$362(26)%(28)%(3)%Central330107,269325377120,696320(12)%(11)%2%Total760$258,732$340961$332,035$346(21)%(22)%(2)%

Controlled lots

The following table sets forth our total controlled lots, which includes both our owned and optioned lots, by reportable segment as of the periods set forth below:

As of September 30,20252024Period over period changeOwned(1)OptionedTotal ControlledOwned(1)OptionedTotal ControlledOwned(1) OptionedTotal ControlledSoutheast96115,03916,00090812,11813,0266%24%23%Central7787,5228,3008384,0144,852(7)%87%71%Total1,73922,56124,3001,74616,13217,878—%40%36%

(1)Includes homes under construction and owned lots.

Non-GAAP Financial Measures

In addition to our results determined in accordance with GAAP, we have provided information in this Quarterly Report on Form 10-Q relating to “adjusted home closing gross profit,” “adjusted home closing gross margin,” “adjusted net