Smith Douglas Homes Corp.
For the period ended Sep 30, 2025. Filed Nov 5, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 5, 2025
SDHC$9.72-1.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets as of and audited)
Condensed Consolidated Balance Sheets
(In thousands except share and per share amounts)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| (Unaudited) | ||
| Assets | ||
| Cash and cash equivalents | $14,775 | $22,363 |
| Real estate inventory | 314,524 | 277,834 |
| Deposits on real estate under option or contract | 135,756 | 103,026 |
| Real estate not owned | 28,828 | 5,830 |
| Property and equipment, net | 9,507 | 3,775 |
| Goodwill | 25,726 | 25,726 |
| Deferred tax asset, net | 10,472 | 10,906 |
| Other assets | 31,971 | 26,441 |
| Total assets | $571,559 | $475,901 |
| Liabilities and Equity | ||
| Liabilities: | ||
| Accounts payable | $21,101 | $17,234 |
| Customer deposits | 5,156 | 5,301 |
| Notes payable | 53,637 | 3,060 |
| Liabilities related to real estate not owned | 28,828 | 5,830 |
| Accrued expenses and other liabilities | 25,992 | 32,348 |
| Tax receivable agreement liability | 10,401 | 10,401 |
| Total liabilities | 145,115 | 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 September 30, 2025 and December 31, 2024 | — | — |
| Class A common stock, $0.0001 par value – 250,000,000 shares authorized; 9,017,638 and 8,846,154 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 1 | 1 |
| Class B common stock, $0.0001 par value – 100,000,000 shares authorized; 42,435,897 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | 4 | 4 |
| Additional paid-in capital | 59,581 | 58,208 |
| Retained earnings | 22,593 | 15,419 |
| Total stockholders’ equity attributable to Smith Douglas Homes Corp. | 82,179 | 73,632 |
| Non-controlling interests attributable to Smith Douglas Holdings LLC | 344,265 | 328,095 |
| Total equity | 426,444 | 401,727 |
| Total liabilities and equity | $571,559 | $475,901 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.