Dream Finders Homes Inc
For the period ended Sep 30, 2024. Filed Oct 31, 2024.
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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, 2024 · Filed Oct 31, 2024
DFH$11.87-7.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net and comprehensive income | $210,090 | $202,993 |
| Adjustments to reconcile net and comprehensive income to net cash (used in)/provided by operating activities | ||
| Depreciation and amortization | 6,948 | 7,983 |
| Gain on sale of property and equipment | (120) | (44) |
| Amortization of lease right-of-use assets | 5,270 | 5,438 |
| Stock-based compensation | 13,660 | 10,286 |
| Deferred tax expense (benefit) | 10,643 | (5,248) |
| Return on investments, net of income from unconsolidated entities | (3,396) | 11 |
| Contingent consideration revaluation | 13,793 | 32,608 |
| Payments of contingent consideration | (29,259) | (12,331) |
| Changes in operating assets and liabilities, net of effects of acquisition | ||
| Accounts receivable | 1,291 | 10,175 |
| Inventories | (494,240) | (95,623) |
| Lot deposits | (119,077) | 35,978 |
| Other assets | (8,094) | 8,587 |
| Mortgage loans held for sale | (62,880) | — |
| Accounts payable and accrued expenses | (51,352) | (58,683) |
| Customer deposits | (51,179) | 17,890 |
| Lease liabilities | (5,201) | (5,258) |
| Net cash (used in)/provided by operating activities | (563,103) | 154,762 |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (21,444) | (3,906) |
| Proceeds from disposal of property and equipment | 88 | 201 |
| Investments in unconsolidated entities | (2,351) | (300) |
| Return of investments from unconsolidated entities | 573 | — |
| Payments for acquisitions, net of cash acquired | (174,403) | — |
| Net cash used in investing activities | (197,537) | (4,005) |
| Cash flows from financing activities | ||
| Proceeds from senior unsecured notes | — | 300,000 |
| Proceeds from construction lines of credit | 666,176 | 5,410,000 |
| Repayments on construction lines of credit | (205,352) | (5,820,736) |
| Proceeds from mortgage warehouse facilities | 544,784 | — |
| Repayments on mortgage warehouse facilities | (483,761) | — |
| Payments of debt issuance costs | (7,344) | (11,358) |
| Redemption of Series B preferred units | — | (11,077) |
| Payments of preferred stock dividends | (10,125) | (9,863) |
| Payments for common stock withheld for taxes | (12,464) | (322) |
| Repurchases of common stock | (6,670) | — |
| Distributions to noncontrolling interests | (12,380) | (6,638) |
| Payments of contingent consideration | (27,832) | (32,592) |
| Net cash provided by/(used in) financing activities | 445,032 | (182,586) |
| Net decrease in cash, cash equivalents and restricted cash | (315,608) | (31,829) |
| Cash, cash equivalents and restricted cash at beginning of period | 548,456 | 395,130 |
| Cash, cash equivalents and restricted cash at end of period | $232,848 | $363,301 |
The accompanying notes are an integral part of these condensed consolidated financial statements
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued)
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Reconciliation of cash, cash equivalents and restricted cash | ||
| Cash and cash equivalents | $204,906 | $330,129 |
| Restricted cash | 27,942 | 33,172 |
| Total cash, cash equivalents and restricted cash | $232,848 | $363,301 |
| Supplemental disclosures of cash payments: | ||
| Cash paid for income taxes, net of refunds | $113,419 | $79,299 |
| Supplemental disclosures of noncash activities: | ||
| Noncash investing activities | ||
| Noncontrolling interest issued in business combination | $21,451 | $— |
| Accrued cash consideration for business combination | 26,126 | — |
| Total noncash investing activities | $47,577 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.