Company: SDHC
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001982518-25-000064
Chunk: 17

Company: Smith Douglas Homes Corp.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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Item 1.    Financial Statements.

SMITH DOUGLAS HOMES CORP.

Condensed Consolidated Balance Sheets

(In thousands except share and per share amounts)

 June 30, 2025December 31, 2024(Unaudited)Assets  Cash and cash equivalents$16,777 $22,363 Real estate inventory320,848 277,834 Deposits on real estate under option or contract132,372 103,026 Real estate not owned26,127 5,830 Property and equipment, net8,858 3,775 Goodwill25,726 25,726 Deferred tax asset, net10,643 10,906 Other assets28,868 26,441 Total assets$570,219 $475,901 Liabilities and Equity  Liabilities:  Accounts payable$15,823 $17,234 Customer deposits5,903 5,301 Notes payable74,088 3,060 Liabilities related to real estate not owned26,127 5,830 Accrued expenses and other liabilities23,045 32,348 Tax receivable agreement liability10,401 10,401 Total liabilities155,387 74,174 Commitments and contingencies (Note 9)Stockholders’ equity:  Preferred stock, $0.0001 par value – 10,000,000 shares authorized; none issued and outstanding as of June 30, 2025 and December 31, 2024— — Class A common stock, $0.0001 par value – 250,000,000 shares authorized; 9,015,173 and 8,846,154 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively1 1 Class B common stock, $0.0001 par value – 100,000,000 shares authorized; 42,435,897 shares issued and outstanding as of June 30, 2025 and December 31, 20244 4 Additional paid-in capital59,789 58,208 Retained earnings20,188 15,419 Total stockholders’ equity attributable to Smith Douglas Homes Corp.79,982 73,632 Non-controlling interests attributable to Smith Douglas Holdings LLC334,850 328,095 Total equity414,832 401