Company: SDHC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001982518-25-000064
Chunk: 21

Company: Smith Douglas Homes Corp.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 858 — 858 — 858 Tax distributions—— —— —— —— —— — (297)(297)(11,522)(11,819)Equity-based compensation—— —— —— —— —— 1,929 — 1,929 — 1,929 Net income subsequent to Reorganization Transactions and IPO—— —— —— —— —— — 6,618 6,618 39,762 46,380 Balance June 30, 2024—$— —$— —$— 8,846,154$1 42,435,897$4 $55,776 $6,321 $62,102 $282,457 344,559 

See accompanying notes to unaudited condensed consolidated financial statements. 

12

SMITH DOUGLAS HOMES CORP.

Condensed Consolidated Statements of Cash Flows

(Unaudited, in thousands)

 Six months ended June 30, 20252024Cash flows from operating activities:  Net income$35,145 $45,220 Adjustments to reconcile net income to net cash used in operating activities:  Depreciation1,066 709 Accrued incentive compensation expense384 1,292 Share-based payment expense1,581 1,929 Abandonment of lot option contracts716 — Impairment of real estate inventory642 — Amortization of debt issuance costs456 512 Equity in earnings from unconsolidated entities(817)(404)Distributions of income from unconsolidated entities747 441 Non-cash lease expense388 278 Provision for deferred income taxes263 325 Other(10)36 Changes in assets and liabilities:  Real estate inventory(63,953)(50,269)Deposits on real estate under option or contract(30,062)(9,157)Other assets677 (4,619)Accounts payable(1,411)4,140 Customer deposits602 2,375 Accrued expenses and other liabilities(10,261)(2,042)Net cash used in operating activities(63,847)(9,234)   Cash flows from investing activities:  Purchases of property and equipment(3,156)(2,573)Investments in unconsolidated entities(1,086