Company: UHG
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001830188-25-000065
Chunk: 96

Company: United Homes Group, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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, general, and administrative expense on the Condensed Consolidated Statements of Operations for the three months ended June 30, 2025 and 2024, respectively, which includes operating lease expense of $0.2 million and $0.4 million for the three months ended June 30, 2025 and 2024, respectively, associated with related party leases. For the six months ended June 30, 2025 and 2024, the Company recognized an operating lease expense of $0.6 million and $0.8 million, which includes operating lease expense of $0.4 million and $0.7 million associated with related party leases. Variable lease expense included within operating lease expense was de minimis for the three and six months ended June 30, 2025 and 2024. The weighted-average discount rate for the operating leases was 9.19% and 9.37% during the six months ended June 30, 2025 and 2024, respectively. The weighted-average remaining lease term was 2.78 years and 3.92 years for the six months ended June 30, 2025 and 2024, respectively.The maturity of the contractual, undiscounted operating lease liabilities as of June 30, 2025 are as follows (in thousands):Lease payment2025$638 20261,000 2027696 2028522 2029 and thereafter— Total undiscounted operating lease liabilities$2,856 Interest on operating lease liabilities(334)Total present value of operating lease liabilities$2,522 The Company has certain leases which have initial lease terms of twelve months or less (“short-term leases”). The Company elected to exclude these leases from recognition, and these leases have not been included in the recognized operating ROU assets and operating lease liabilities. The Company recorded $0.1 million and less than $0.1 million of rent expense related to the short-term leases within Selling, general and administrative expense on the Condensed Consolidated Statements of Operations for the three months ended June 30, 2025 and 2024, respectively, and $0.2 million and $0.1 million for the six months ended June 30, 2025 and 2024, respectively. Short term lease expense associated with related party leases was de minimis for the three months ended June 30, 2025 and 2024.Surety bonds and letters of credit During the ordinary course of