Company: SDHC
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049591
Chunk: 135

Company: Smith Douglas Homes Corp.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 2
Chunk 135
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 closingrevenueHome closingsASP ofhomes closedSoutheast$446,1101,292$345$417,0151,186$3527%9%(2)%Central264,577836316270,962845321(2)%(1)%(2)%Total$710,6872,128$334$687,9772,031$3393%5%(1)%

Cost of home closings

Cost of home closings for the three months ended September 30, 2025, was $207.1 million, an increase of $2.9 million, or 1%, from $204.1 million for the three months ended September 30, 2024, which was primarily driven by a 5% increase in the average cost of home closings, partially offset by a 3% decrease in home closings. Cost of home closings for the nine months ended September 30, 2025, was $550.2 million, an increase of $44.5 million, or 9%, from $505.8 million for the nine months ended September 30, 2024, which was primarily driven by a 5% increase in home closings and a 4% increase in the average cost of home closings. 

Home closing gross profit

Home closing gross profit for the three months ended September 30, 2025 was $55.0 million, a decrease of $18.7 million, or 25%, from $73.7 million for the three months ended September 30, 2024. Home closing gross margin, expressed as a percentage and calculated as home closing gross profit divided by home closing revenue, was 21.0% in the three months ended September 30, 2025 compared to 26.5% in the same period in 2024. Home closing gross profit for the 

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nine months ended September 30, 2025 was $160.4 million, a decrease of $21.8 million, or 12%, from $182.2 million for the nine months ended September 30, 2024. Home closing gross margin, expressed as a percentage and calculated as home closing gross profit divided by home closing revenue, was 22.6% in the nine months ended September 30, 2025 compared to 26.5% in the same period in 2024. 

The decrease in home closing gross margin for each of the three and nine months ended September