Company: SDHC
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001982518-25-000007
Chunk: 20

Company: Smith Douglas Homes Corp.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 8
Chunk 20
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20241 — Class B common stock, $0.0001 par value – 100,000,000 shares authorized; 42,435,897 shares issued and outstanding as of December 31, 20244 — Additional paid-in capital58,208 — Retained earnings15,419 — Total stockholders’ equity attributable to Smith Douglas Homes Corp.73,632 — Non-controlling interests attributable to Smith Douglas Holdings LLC328,095 — Total equity401,727 208,903 Total liabilities and equity$475,901 $352,692 See accompanying notes to consolidated financial statements.88

Table of contentsSMITH DOUGLAS HOMES CORP.Consolidated Statements of IncomeYear ended December 31,20242023(In thousands)Home closing revenue$975,463 $764,631 Cost of home closings719,921 548,304 Home closing gross profit255,542 216,327 Selling, general and administrative costs136,382 92,442 Equity in income from unconsolidated entities(1,161)(934)Interest expense2,489 1,658 Other expense (income), net938 (19)Income before income taxes116,894 123,180 Provision for income taxes5,065 — Net income111,829 $123,180 Net income attributable to non-controlling interests and LLC members prior to IPO95,759 Net income attributable to Smith Douglas Homes Corp.$16,070 For the period fromJanuary 11, 2024 toDecember 31, 2024Earnings per share:Basic$1.82 Diluted$1.81 Weighted average shares of common stock outstanding:Basic8,846,174Diluted9,062,368See accompanying notes to consolidated financial statements.89

Table of contentsSMITH DOUGLAS HOMES CORP.Consolidated Statements of EquityFor the Years Ended December 31, 2024 and 2023(In thousands, except number of units)Smith Douglas Holdings LLC Members’ Equity (prior toReorganization Transactions) Note 1Smith Douglas Homes Corp. Stockholders’ EquityClass A UnitsClass C UnitsClass D UnitsClass ACommon StockClass BCommon StockNon-ControllingInterestsUnitsAmountUnitsAmountUnitsAmountSharesAmountSharesAmountAdditionalPaid-inCapitalRetainedEarningsStockholders’EquityAmountsTotal Equity