Company: UHG
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001830188-25-000079
Chunk: 34

Company: United Homes Group, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 derivative liability— — — — 3 — 3 Recognition of derivative liability— — — — (212)— (212)Stock-based compensation expense— — — — 1,568 — 1,568 Net loss— — — — — (7,339)(7,339)Balance as of September 30, 202411,434,050 $1 36,973,876 $4 $7,527 $12,257 $19,789 

The accompanying unaudited Notes to the Condensed Consolidated Financial Statements are an integral part of these statements.

6

UNITED HOMES GROUP, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)

Nine Months Ended September 30, 20252024Cash flows from operating activities:Net (loss) income$(19,456)$46,239 Adjustments to reconcile net income to net cash flows from operating activities:Credit loss110 46 Investment earnings in joint venture(715)(1,076)Depreciation expense292 150 Loss on disposal of property and equipment43 20 Loss on extinguishment of debt— 104 Gain on lease modification— (197)Amortization of intangible assets305 289 Amortization of deferred financing costs1,132 1,062 Amortization of discount on Convertible Notes— 1,542 Amortization of discount on private investor debt— 60 Amortization of discount on term loan251 — Stock-based compensation expense5,304 4,918 Amortization of operating lease right-of-use assets913 1,009 Provision for deferred income taxes(71)(3,154)Change in fair value of contingent earnout liability1,129 (50,864)Change in fair value of warrant liabilities11,041 345 Change in fair value of equity incentive plan— (131)Change in fair value of contingent consideration2 (828)Distribution from joint venture1,000 — Net change in operating assets and liabilities:Accounts receivable(2,036)(1,298)Due from related party(1)88 Inventories(28,168)17,816 Lot deposits6,215 (9,677)Prepaid expenses and other assets(706)(