Company: UHG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001830188-25-000012
Chunk: 98

Company: United Homes Group, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 7
Chunk 98
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The following table summarizes the Company’s cash flows for the periods indicated:

Year Ended December 31,20242023Net cash flows provided by operating activities$15,443,642 $28,224,880 Net cash flows used in investing activities(12,586,245)(24,300,985)Net cash flows (used in) provided by financing activities(33,979,799)40,508,741 

Operating Activities

Net cash provided by operating activities was $15.4 million for the year ended December 31, 2024, as compared to $28.2 million for the year ended December 31, 2023. The difference in cash flows year over year is $12.8 million. This change is primarily attributable to a decrease in cash provided by net income adjusted for non-cash transactions of $13.8 million, primarily attributable to higher Cost of sales as a result of increased incentives in the form of mortgage rate buydowns and closing costs compared to the prior year, and an increase in Selling, general and administrative expense.

Investing Activities

Net cash used in investing activities was $12.6 million for the year ended December 31, 2024, as compared to $24.3 million for the year ended December 31, 2023. The difference in cash flows year over year is $11.7 million. The change is primarily attributable to a decrease in cash used for payments on business acquisitions, net of cash acquired of $11.6 million, and a decrease in cash used in purchases of property and equipment of $0.1 million.

Financing Activities

Net cash used in financing activities was $34.0 million for the year ended December 31, 2024, as compared to net cash provided by financing activities of $40.5 million for the year ended December 31, 2023. The difference in cash flows year over year is $74.5 million. During the year ended December 31, 2024, cash flows used in financing activities was primarily due to net cash used of $2.9 million to redeem the Convertibles Notes and issue the Term Loan, net repayments of $28.3 million of homebuilding and land banking debt, and debt issuance costs of $2.8 million. In contrast, during the year ended December 31, 2023, cash flows provided by financing activities included cash received of $94.4 million as a result of the Business Combination, PIPE,