Company: SDHC
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001982518-25-000020
Chunk: 97

Company: Smith Douglas Homes Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 97
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 primarily due to an increase in home closing revenue and gross profit due to an increase 

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in homes closed of 4%, partially offset by a decrease in ASP of homes closed of 3% and an increase in selling, general, and administrative costs.

Backlog homes

The following table sets forth our backlog homes and contract value and ASP of backlog homes by reportable segment for the periods presented, along with their period-to-period change (dollar amounts in thousands):

As of March 31,20252024Period over period change BackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesBackloghomesContractvalue ofbackloghomesASP ofbackloghomesSoutheast486$169,967$350673$239,587$356(28)%(29)%(2)%Central305100,115328437141,568324(30)%(29)%1%Total791$270,082$3411,110$381,155$343(29)%(29)%(1)%

Controlled lots

The following table sets forth our total controlled lots, which includes both our owned and optioned lots, by reportable segment as of the periods set forth below:

As of March 31,20252024Period over period changeOwned(1)OptionedTotal ControlledOwned(1)OptionedTotal ControlledOwned(1) OptionedTotal ControlledSoutheast94812,98013,9287268,5939,31931%51%49%Central9355,5796,5148633,9354,7988%42%36%Total1,88318,55920,4421,58912,52814,11719%48%45%

(1)Includes homes under construction and owned lots.

Non-GAAP Financial Measures

In addition to our results determined in accordance with GAAP, we have provided information in this Quarterly Report on Form 10-Q relating to “adjusted home closing gross profit,” “adjusted home closing gross margin,” “adjusted net income,” “EBITDA”, “EBITDA margin”, “adjusted EBITDA”, “adjusted EBITDA margin”, and “net debt-to-net book capitalization.” We believe these non-GAAP financial measures are useful in evaluating our operating performance.

We report our financial results in accordance with GAAP. However, management believes that certain non-GAAP financial measures provide users of our financial information with additional useful information in evaluating our performance