\nSmith Douglas Homes Corp. (NYSE: SDHC) (\u201cSmith Douglas\u201d or the \u201cCompany\u201d) today announced second quarter results for the three and six months ended June 30, 2026.<\/p>\n
Q2 2026 Results as compared to Q2 2025:<\/b><\/p>\n \n\u201cWe delivered another quarter of solid operational execution, generating strong year-over-year growth in both net new home orders and home closings despite a market that remains uncertain and constantly evolving,\u201d said Greg Bennett, Chief Executive Officer and Vice Chairman of Smith Douglas Homes. \u201cOur teams continued to help buyers find the right combination of affordability, personalization, and value, while maintaining our disciplined operations and industry-leading build times. We believe this performance reflects the strength of our operating model and positions us well for continued long-term growth.\u201d<\/p>\n \nMr. Bennett continued, \u201cWhile the housing market continues to face affordability challenges and macroeconomic uncertainty, we remain encouraged by underlying demand and the resilience of today’s homebuyer.\u201d<\/p>\n \nRuss Devendorf, Executive Vice President and Chief Financial Officer, added, \u201cOur second quarter results demonstrate that we can continue growing while remaining disciplined in how we operate the business. We expanded our community count, increased sales, and continued to execute our land-light land strategy without compromising our underwriting standards. As we scale across the Southeastern and Southern United States, we remain focused on generating attractive returns, preserving balance sheet flexibility, and creating long-term value for our shareholders.\u201d<\/p>\n Conference Call & Webcast Information<\/b><\/p>\n \nManagement will host a conference call to discuss the Company\u2019s results at 8:30 a.m. Eastern Time on August 6, 2026. Interested parties can dial in using the numbers below or access the call via a webcast link provided in the investor relations section of the company\u2019s website.<\/p>\n Dial-in Numbers: \nA replay of the call will be available on the Company\u2019s website shortly after the call concludes.<\/p>\n About Smith Douglas Homes<\/b><\/p>\n \nHeadquartered in Woodstock, Georgia, Smith Douglas Homes completed its initial public offering in January 2024. Since its inception, Smith Douglas has been entrusted by over 20,000 families to fulfill their new home dreams. Ranked a top 50 builder nationally for several years and with 2,908 closings in 2025, Smith Douglas currently holds the #33 position on the Builder Magazine Top 100 list. The Smith Douglas communities are primarily targeted to entry-level and empty-nest homebuyers looking to purchase a new home priced below the Federal Housing Administration loan limit in the metro areas of Atlanta, Birmingham, Central Georgia, Charlotte, Chattanooga, Dallas-Fort Worth, Greenville, Houston, Huntsville, Nashville, Raleigh, and the Alabama Gulf Coast. Smith Douglas offers its homebuyers a personalized, affordable buying experience at attractive prices, delivering exceptional value and quality.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding the Company\u2019s performance, growth, strategic plans and opportunities, financial position, ability to navigate the changing homebuilding landscape in the macroeconomic environment, and the timing of any of the foregoing. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the factors discussed under the caption \u201cRisk Factors\u201d in our Annual Report on Form 10-K for the year ended December 31, 2025, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission. These forward-looking statements are based on management\u2019s current estimates and expectations. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.<\/p>\n Smith Douglas Homes \n\u00a0<\/p>\n<\/td>\n Three months ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six months ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \nHome closing revenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n273,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n223,924<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n479,470<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n448,646<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCost of home closings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n225,105<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n171,985<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n391,098<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n343,177<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nHome closing gross profit<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n47,921<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n51,939<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n88,372<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n105,469<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative costs<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n41,914<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,702<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n77,826<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n67,701<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEquity in income from unconsolidated entities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(786<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(598<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,313<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(817<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nInterest expense<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n640<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n772<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,488<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,438<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther expense (income), net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,285<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(116<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,188<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n401<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIncome before income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,868<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,179<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,183<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,746<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProvision for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n744<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n353<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,601<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,768<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,435<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,830<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n35,145<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income attributable to non-controlling interests<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,522<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,070<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,019<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n30,097<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet income attributable to Smith Douglas Homes Corp.<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n246<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n2,365<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n811<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,048<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEarnings per share:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.26<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.09<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.56<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.03<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.26<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.09<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n0.55<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nWeighted average shares of common stock outstanding:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nBasic<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,380,647<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,998,470<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,698,043<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,983,328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDiluted<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,380,647<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,998,470<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,698,043<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,160,922<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Smith Douglas Homes \n\u00a0<\/p>\n<\/td>\n June 30, 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n December 31, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n(Unaudited)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Assets<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n14,200<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,741<\/p>\n<\/td>\n<\/tr>\n \nReal estate inventory<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n331,216<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n298,637<\/p>\n<\/td>\n<\/tr>\n \nDeposits on real estate under option or contract<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n139,288<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n138,763<\/p>\n<\/td>\n<\/tr>\n \nReal estate not owned<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,251<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,051<\/p>\n<\/td>\n<\/tr>\n \nProperty and equipment, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,206<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,720<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,726<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25,726<\/p>\n<\/td>\n<\/tr>\n \nDeferred tax asset, net<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,612<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,666<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n38,603<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,289<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n592,102<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n557,593<\/p>\n<\/td>\n<\/tr>\n Liabilities and Equity<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLiabilities:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts payable<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n26,943<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,938<\/p>\n<\/td>\n<\/tr>\n \nCustomer deposits<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,027<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,108<\/p>\n<\/td>\n<\/tr>\n \nNotes payable<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n66,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n44,075<\/p>\n<\/td>\n<\/tr>\n \nLiabilities related to real estate not owned<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,251<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,051<\/p>\n<\/td>\n<\/tr>\n \nAccrued expenses and other liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,517<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,428<\/p>\n<\/td>\n<\/tr>\n \nTax receivable agreement liability<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,382<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,857<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n159,146<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n113,457<\/p>\n<\/td>\n<\/tr>\n \nCommitments and contingencies<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nEquity:<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPreferred stock, $0.0001 par value \u2013 10,000,000 shares authorized; none issued and outstanding as of June 30, 2026 and December 31, 2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nClass A common stock, $0.0001 par value \u2013 250,000,000 shares authorized; 9,109,212 and 9,017,708 shares issued, 8,386,996 and 9,017,708 shares outstanding as of June 30, 2026 and December 31, 2025, respectively<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1<\/p>\n<\/td>\n<\/tr>\n \nClass B common stock, $0.0001 par value \u2013 100,000,000 shares authorized; 42,435,897 shares issued and outstanding as of June 30, 2026 and December 31, 2025<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n62,122<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n60,610<\/p>\n<\/td>\n<\/tr>\n \nRetained earnings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,924<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26,113<\/p>\n<\/td>\n<\/tr>\n \nTreasury stock, at cost<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(9,588<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n<\/tr>\n \nTotal stockholders\u2019 equity attributable to Smith Douglas Homes Corp.<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n79,463<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n86,728<\/p>\n<\/td>\n<\/tr>\n \nNon-controlling interests attributable to Smith Douglas Holdings LLC<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n353,493<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n357,408<\/p>\n<\/td>\n<\/tr>\n \nTotal equity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n432,956<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n444,136<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities and equity<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n592,102<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n557,593<\/p>\n<\/td>\n<\/tr>\n Smith Douglas Homes Six months ended June 30,<\/b><\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \nNet cash provided by (used in) operating activities<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n4,850<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(63,847<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet cash used in investing activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(1,152<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,225<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet cash (used in) provided by financing activities<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,239<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n62,486<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Net increase (decrease) in cash and cash equivalents<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 1,459<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n (5,586<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \nCash and cash equivalents, beginning of period<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,741<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,363<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Cash and cash equivalents, end of period<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 14,200<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 16,777<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Smith Douglas Homes \n\u00a0<\/p>\n<\/td>\n Three months ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six months ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n \nHome closings<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n839<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n669<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,463<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,340<\/p>\n<\/td>\n<\/tr>\n \nASP of homes closed<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n325<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n335<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n335<\/p>\n<\/td>\n<\/tr>\n \nNet new home orders<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n970<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n736<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,951<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,504<\/p>\n<\/td>\n<\/tr>\n \nContract value of net new home orders<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n311,612<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n247,421<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n635,305<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n506,139<\/p>\n<\/td>\n<\/tr>\n \nASP of net new home orders<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n321<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n336<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n326<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n337<\/p>\n<\/td>\n<\/tr>\n \nCancellation rate(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12.7%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11.0%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9.1%<\/p>\n<\/td>\n<\/tr>\n \nBacklog homes (period end)(2)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n858<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n858<\/p>\n<\/td>\n<\/tr>\n \nContract value of backlog homes (period end)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n292,881<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n292,881<\/p>\n<\/td>\n<\/tr>\n \nASP of backlog homes (period end)<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n341<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n341<\/p>\n<\/td>\n<\/tr>\n \nActive communities (period end)(3)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n92<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n92<\/p>\n<\/td>\n<\/tr>\n \nControlled lots (period end):<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nHomes under construction<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,208<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,091<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,208<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,091<\/p>\n<\/td>\n<\/tr>\n \nOwned lots<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n664<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n834<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n664<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n834<\/p>\n<\/td>\n<\/tr>\n \nOptioned lots<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,899<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,899<\/p>\n<\/td>\n<\/tr>\n \nTotal controlled lots<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,527<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,824<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,527<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,824<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nThe cancellation rate is the total number of cancellations during the period divided by the total gross new home orders during the period.<\/p>\n<\/td>\n<\/tr>\n \nBacklog homes (period end) is the number of homes in backlog from the previous period plus the number of net new home orders generated during the current period minus the number of homes closed during the current period.<\/p>\n<\/td>\n<\/tr>\n \nA community becomes active once the model is completed or the community has its first sale. A community becomes inactive when it has fewer than two homes remaining to sell.<\/p>\n<\/td>\n<\/tr>\n Smith Douglas Homes Home Closing Revenue<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n Three months ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period over period change<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closing<\/b><\/p>\n revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closings<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n homes closed<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closing<\/b><\/p>\n revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closings<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n homes closed<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closing<\/b><\/p>\n revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closings<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n homes closed<\/b><\/p>\n<\/td>\n<\/tr>\n \nSoutheast<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n168,995<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n509<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n332<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n141,267<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n407<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n347<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n20 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4)%<\/p>\n<\/td>\n<\/tr>\n \nCentral<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n104,031<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n330<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n315<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n82,657<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n262<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n315<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n26 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014 %<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n273,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n839<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n325<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n223,924<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n669<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n335<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n25 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3)%<\/p>\n<\/td>\n<\/tr>\n Six months ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period over period change<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closing<\/b><\/p>\n revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closings<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n homes closed<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closing<\/b><\/p>\n revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closings<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n homes closed<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closing<\/b><\/p>\n revenue<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Home closings<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n homes closed<\/b><\/p>\n<\/td>\n<\/tr>\n \nSoutheast<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n290,073<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n867<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n335<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n279,485<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n799<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n350<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4)%<\/p>\n<\/td>\n<\/tr>\n \nCentral<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n189,397<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n596<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n318<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n169,161<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n541<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n313<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2 %<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n479,470<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,463<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n328<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n448,646<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,340<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n335<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Backlog<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n As of June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period over period change<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Contract<\/b><\/p>\n value of<\/b><\/p>\n backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Contract<\/b><\/p>\n value of<\/b><\/p>\n backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Contract<\/b><\/p>\n value of<\/b><\/p>\n backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n ASP of<\/b><\/p>\n backlog<\/b><\/p>\n homes<\/b><\/p>\n<\/td>\n<\/tr>\n \nSoutheast<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n591<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n194,893<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n330<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n511<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n178,409<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n349<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5)%<\/p>\n<\/td>\n<\/tr>\n \nCentral<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n409<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n127,254<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n311<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n347<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n114,472<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n330<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6)%<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,000<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322,147<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n322<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n858<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n292,881<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n341<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10 %<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(6)%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Controlled Lots<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n As of June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period over period change<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Owned(1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Optioned<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Total Controlled<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Owned(1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Optioned<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Total Controlled<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Owned(1)<\/sup><\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Optioned<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Total Controlled<\/b><\/p>\n<\/td>\n<\/tr>\n \nSoutheast<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,023<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,007<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n15,030<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n986<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,005<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12%)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(12%)<\/p>\n<\/td>\n<\/tr>\n \nCentral<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n849<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,648<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8,497<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n939<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,894<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,833<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(10%)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11%<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n8%<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,872<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n21,655<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n23,527<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,925<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n22,899<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n24,824<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(3%)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5%)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(5%)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nIncludes homes under construction and owned lots.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Net Income<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Three months ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six months ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period over<\/b><\/p>\n period change<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Period over<\/b><\/p>\n period change<\/b><\/p>\n<\/td>\n<\/tr>\n \nSoutheast<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,574<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n21,991<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(11,417)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n23,054<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n45,846<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(22,792)<\/p>\n<\/td>\n<\/tr>\n \nCentral<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,866<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,345<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(479)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n11,301<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,355<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,054)<\/p>\n<\/td>\n<\/tr>\n \nSegment total<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n16,440<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n28,336<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11,896)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n34,355<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n59,201<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24,846)<\/p>\n<\/td>\n<\/tr>\n \nOther(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(14,672)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(11,901)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(2,771)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(28,525)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(24,056)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(4,469)<\/p>\n<\/td>\n<\/tr>\n \nTotal<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n1,768<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n16,435<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(14,667)<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n5,830<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n35,145<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(29,315)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nOther primarily includes homebuilding operations in non-reportable segments, corporate overhead costs, such as payroll and benefits, business insurance, information technology, office costs, outside professional services and travel costs, and certain other amounts that are not allocated to the reportable segments.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Non-GAAP Financial Measures<\/b><\/p>\n \nIn addition to our results determined in accordance with generally accepted accounting principles in the U.S. (\u201cGAAP\u201d), this press release includes net debt-to-net book capitalization and adjusted net income.<\/p>\n Net debt-to-net book capitalization<\/i><\/b><\/p>\n \nNet debt-to-net book capitalization is a supplemental measure of our leverage that is not required by, or presented in accordance with, GAAP and should not be considered as an alternative to debt-to-book capitalization or any other measure derived in accordance with GAAP. We caution investors that amounts presented in accordance with our definition of net debt-to-net book capitalization may not be comparable to similar measures disclosed by our competitors because not all companies and analysts calculate this non-GAAP financial measure in the same manner. We present this non-GAAP financial measure because we consider it to be an important supplemental measure of our leverage and believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in our industry.<\/p>\n \nWe define net debt-to-net book capitalization as:<\/p>\n \nThis non-GAAP financial measure has limitations as an analytical tool in that it subtracts cash and cash equivalents and therefore may imply that the Company has less debt than the most comparable measure determined in accordance with GAAP. Because of this limitation, this non-GAAP financial measure should be considered along with other financial measures presented in accordance with GAAP. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. We have reconciled this non-GAAP financial measure with the most directly comparable GAAP financial measure in the following table:<\/p>\n As of<\/b><\/p>\n (in thousands, except percentages)<\/b><\/p>\n<\/td>\n June 30, \n\u00a0<\/p>\n<\/td>\n December 31, \nNotes payable<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n66,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n44,075<\/p>\n<\/td>\n<\/tr>\n \nEquity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n432,956<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n444,136<\/p>\n<\/td>\n<\/tr>\n \nTotal capitalization<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n498,982<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n488,211<\/p>\n<\/td>\n<\/tr>\n Debt-to-book capitalization<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 13.2%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 9.0%<\/b><\/p>\n<\/td>\n<\/tr>\n \nNotes payable<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n66,026<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n44,075<\/p>\n<\/td>\n<\/tr>\n \nLess: cash and cash equivalents<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n14,200<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,741<\/p>\n<\/td>\n<\/tr>\n \nNet debt<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n51,826<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n31,334<\/p>\n<\/td>\n<\/tr>\n \nEquity<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n432,956<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n444,136<\/p>\n<\/td>\n<\/tr>\n \nTotal net capitalization<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n484,782<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n475,470<\/p>\n<\/td>\n<\/tr>\n Net debt-to-net book capitalization<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 10.7%<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 6.6%<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n Adjusted net income<\/i><\/b><\/p>\n \nAdjusted net income is not a measure of net income or net income margin as determined by GAAP. Adjusted net income is a supplemental non-GAAP financial measure used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders, and rating agencies. We define adjusted net income as net income adjusted for the tax impact using an applicable federal and state blended tax rate (assuming 100% public ownership to adjust for the impact of taxes on earnings attributable to Smith Douglas Holdings LLC as if Smith Douglas Holdings LLC was a subchapter C corporation in the periods presented).<\/p>\n \nManagement believes adjusted net income is useful because it allows management to more effectively evaluate our operating performance and comparability to industry peers who record income tax expense on their income before tax as opposed to the income of Smith Douglas Holdings LLC not being taxed at the entity level and, therefore, not reflecting a charge against earnings for income tax expense. Adjusted net income should not be considered as an alternative to, or more meaningful than, net income or any other measure as determined in accordance with GAAP. Our computation of adjusted net income may not be comparable to adjusted net income of other companies. We present adjusted net income because we believe it provides useful information regarding our comparability to peers.<\/p>\n \nThe following table presents a reconciliation of adjusted net income to the GAAP financial measure of net income for each of the periods indicated (in thousands):<\/p>\n \n\u00a0<\/p>\n<\/td>\n Three months ended June 30,<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n Six months ended June 30,<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n<\/tr>\n Net income<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,768<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 16,435<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 5,830<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 35,145<\/b><\/p>\n<\/td>\n<\/tr>\n \nProvision for income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n100<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n744<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n353<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,601<\/p>\n<\/td>\n<\/tr>\n \nIncome before income taxes<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,868<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n17,179<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,183<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n36,746<\/p>\n<\/td>\n<\/tr>\n \nTax-effected adjustments(1)<\/sup><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n502<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n4,278<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,662<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n9,150<\/p>\n<\/td>\n<\/tr>\n Adjusted net income<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 1,366<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 12,901<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 4,521<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 27,596<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nFor the three and six months ended June 30, 2026 and 2025, our tax expenses assume a 26.9% and 24.9% federal and state blended tax rate, respectively, (assuming 100% public ownership to adjust for the impact of taxes on earnings attributable to Smith Douglas Holdings LLC as if Smith Douglas Holdings LLC was a subchapter C corporation in the periods presented).<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260805457682\/en\/<\/a><\/span><\/p>\n Investor Relations KEYWORDS:<\/b> Georgia United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Construction & Property Residential Building & Real Estate<\/p>\n\n
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<\/b>Local: (+1) 585-542-9983
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Toll Free: (+1) 833-461-5787
\n
Conference ID: 284 191 644<\/p>\n\n
\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n
\n
Condensed Consolidated Statements of Income
\n
(Unaudited, in thousands, except share and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n
\n
<\/b>Condensed Consolidated Balance Sheets
\n
<\/b>(In thousands, except share and per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n
\n
<\/b>Summary Cash Flow Information
\n
<\/b>(Unaudited, dollars in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n
\n
<\/b>Selected Other Operating Data
\n
<\/b>(Unaudited, dollars in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n (1)<\/td>\n \n \n \n (2)<\/td>\n \n \n \n (3)<\/td>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n
\n
<\/b>Selected Financial Information by Segment
\n
<\/b>(Unaudited, dollars in thousands)<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n (1)<\/td>\n \n \n \n
\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n (1)<\/td>\n \n \n \n
\n
\n \n \n \n
\n<\/b>
2026<\/b><\/p>\n<\/td>\n\n \n
\n<\/b>
2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n (1)<\/td>\n \n \n <\/p>\n
\n<\/b>
Joe Thomas, SVP of Accounting & Finance
\n
investors@smithdouglas.com<\/a><\/p>\n
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<\/td>\n<\/tr>\n