Company: SDHC
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001982518-25-000007
Chunk: 29

Company: Smith Douglas Homes Corp.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 8
Chunk 29
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ed incentive compensation expense3,020 2,262 Share-based payment expense4,361 — Amortization of debt issuance costs942 679 Equity in earnings from unconsolidated entities(1,161)(934)Distributions of income from unconsolidated entities1,088 941 Non-cash lease expense630 489 Provision for deferred income taxes353 — Other24 48 Changes in assets and liabilities:Real estate inventory(53,745)(33,685)Deposits on real estate under option or contract(45,930)(16,641)Other assets(6,659)(4,560)Accounts payable(84)5,526 Customer deposits(1,867)(2,452)Accrued expenses and other liabilities4,506 323 Net cash provided by operating activities19,132 76,257 Cash flows from investing activities:Purchases of property and equipment(3,887)(1,308)Investments in unconsolidated entities(855)— Distributions of capital from unconsolidated entities— 320 Acquisition of Devon Street— (75,865)Other36 21 Net cash used in investing activities(4,706)(76,832)Cash flows from financing activities:Issuance of Class A common stock in IPO, net of underwriting discount172,765 — Issuance of Class B common stock4 — Payment of offering costs(5,137)— Redemption of Class C and D units(2,600)— Purchase of LLC interests from Continuing Equity Owners(47,573)— Borrowings under revolving credit facility87,000 150,000 Repayments under revolving credit facility(158,000)(94,373)Payments on notes payable(1,574)(7)Payments on notes payable - related party(938)(365)Proceeds from sales of real estate not owned4,890 23,917 Payments related to repurchases of real estate not owned(15,875)(9,548)Distributions(39,951)(78,788)91

Table of contentsSMITH DOUGLAS HOLDINGS LLC AND SUBSIDIARIESConsolidated Statements of Cash Flows - ContinuedPayment of debt issuance costs(1,851)(85)Payment of contingent consideration related to acquisition(3,000)— Net cash used in financing activities(11,840)(9,249)Net increase