Company: UHG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001830188-25-000012
Chunk: 2

Company: United Homes Group, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 2
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353,824 Operating lease liabilities2,957,734 5,565,320 Derivative liabilities39,158,209 127,610,943 Term Loan, net67,150,116 — Convertible Notes payable— 68,038,780 Total Liabilities$198,511,018 $329,829,864 Commitments and contingencies (Note 13)Preferred Stock, $0.0001 par value; 40,000,000 shares authorized; none issued or outstanding. — — Class A common stock, $0.0001 par value; 350,000,000 shares authorized; 21,607,007 and 11,382,282 shares issued and outstanding on December 31, 2024, and 2023, respectively.2,160 1,138 Class B common stock, $0.0001 par value; 60,000,000 shares authorized; 36,973,876 shares issued and outstanding on December 31, 2024, and 2023, respectively.3,697 3,697 Additional paid-in capital53,937,139 2,794,493 Retained earnings (Accumulated deficit)12,923,876 (33,981,864)Total Stockholders' equity66,866,872 (31,182,536)Total Liabilities and Stockholders' equity$265,377,890 $298,647,328 

The accompanying Notes to the Consolidated Financial Statements are an integral part of these statements.

53

UNITED HOMES GROUP, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended December 31,20242023Revenue, net of sales discounts$463,714,017 $421,474,101 Cost of sales383,883,751 341,748,481 Gross profit79,830,266 79,725,620 Selling, general and administrative expense74,699,741 65,094,444 Net income from operations5,130,525 14,631,176 Other expense, net(12,482,940)(3,762,613)Equity in net earnings from investment in joint venture1,528,984 1,244,091 Loss on extinguishment of Convertible Notes(45,642,497)— Change in fair value of derivative liabilities88,652,980 115