v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 16,777 $ 22,363
Real estate inventory 320,848 277,834
Deposits on real estate under option or contract 132,372 103,026
Real estate not owned 26,127 5,830
Property and equipment, net 8,858 3,775
Goodwill 25,726 25,726
Deferred tax asset, net 10,643 10,906
Other assets 28,868 26,441
Total assets 570,219 475,901
Liabilities:    
Accounts payable 15,823 17,234
Customer deposits 5,903 5,301
Notes payable 74,088 3,060
Liabilities related to real estate not owned 26,127 5,830
Accrued expenses and other liabilities 23,045 32,348
Tax receivable agreement liability 10,401 10,401
Total liabilities 155,387 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 0 0
Additional paid-in capital 59,789 58,208
Retained earnings 20,188 15,419
Total stockholders’ equity attributable to Smith Douglas Homes Corp. 79,982 73,632
Non-controlling interests attributable to Smith Douglas Holdings LLC 334,850 328,095
Total equity 414,832 401,727
Total liabilities and equity 570,219 475,901
Class A Common Stock    
Stockholders’ equity:    
Common stock 1 1
Class B Common Stock    
Stockholders’ equity:    
Common stock $ 4 $ 4