For the quarter ending 2026-03-31, SDHC had $15,245K increase in cash & cash equivalents over the period. -$202K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 4,062 | 17,049 | 51,360 | - |
| Depreciation | 857 | 783 | 700 | 1,066 |
| Accrued incentive compensation expense | 124 | 240 | 234 | 384 |
| Share-based payment expense | 1,166 | 1,034 | 1,054 | 1,581 |
| Abandonment of lot option contracts | 0 | 4 | 1,580 | 716 |
| Impairment of real estate inventory | 972 | 1,958 | 0 | 642 |
| Amortization of debt issuance costs | 243 | 244 | 244 | 456 |
| Equity in earnings from unconsolidated entities | 527 | 643 | 1,457 | - |
| Distributions of income from unconsolidated entities | 643 | 567 | 634 | 747 |
| Non-cash lease expense | 133 | 136 | 134 | 388 |
| Change in value of tra liability | - | -544 | - | - |
| Provision for deferred income taxes | 30 | 806 | 171 | 263 |
| Other | 0 | 16 | -1 | -10 |
| Real estate inventory | 21,996 | -14,731 | -2,991 | 63,953 |
| Deposits on real estate under option or contract | 3,168 | 3,007 | 4,332 | 30,062 |
| Other assets | 3,971 | 2,595 | 3,475 | -677 |
| Accounts payable | 21,326 | -19,163 | 5,278 | -1,411 |
| Customer deposits | 1,959 | -2,048 | -747 | 602 |
| Accrued expenses and other liabilities | -1,515 | 196 | 2,713 | -10,261 |
| Net cash provided by (used in) operating activities | 338 | 9,757 | 22,753 | -63,847 |
| Purchases of property and equipment | 540 | 1,012 | 1,356 | 3,156 |
| Investments in unconsolidated entities | - | 49 | - | - |
| Investments in unconsolidated entities | 25 | 14 | 0 | 1,086 |
| Other | 0 | 0 | -8 | -17 |
| Net cash used in investing activities | -565 | -1,061 | -1,348 | -4,225 |
| Issuance of class a common stock in ipo, net of underwriting discount | - | 0 | 0 | 0 |
| Issuance of class b common stock | - | 0 | 0 | 0 |
| Payment of offering costs | - | 0 | 0 | 0 |
| Redemption of class c and d units | - | 0 | 0 | 0 |
| Purchase of llc interests from continuing equity owners | - | 0 | 0 | 0 |
| Borrowings under revolving credit facility | 76,000 | 41,000 | 15,000 | 149,000 |
| Repayments under revolving credit facility | 51,000 | 50,000 | 34,900 | 80,100 |
| Payments on notes payable | 445 | 437 | 428 | 832 |
| Payments on notes payable - related party | 128 | 125 | 123 | 40 |
| Proceeds from sales of real estate not owned | 11,108 | 6,664 | 9,568 | 27,115 |
| Payments related to repurchases of real estate not owned | 6,171 | 7,441 | 6,867 | 6,818 |
| Distributions | 7,072 | 386 | 4,395 | 23,621 |
| Payments of debt issuance costs | 0 | 0 | 0 | 2,218 |
| Payments of shares withheld for taxes | 644 | 5 | 1,262 | - |
| Tra payments | 475 | - | - | - |
| Payment of contingent consideration related to acquisition | - | 0 | - | - |
| Share repurchases | 5,701 | - | - | - |
| Net cash provided by financing activities | 15,472 | -10,730 | -23,407 | 62,486 |
| Net (decrease) increase in cash and cash equivalents | - | -2,034 | - | - |
| Net increase (decrease) in cash and cash equivalents | 15,245 | -2,034 | -2,002 | -5,586 |
| Cash and cash equivalents, beginning of period | 12,741 | 14,775 | 22,363 | - |
| Cash and cash equivalents, end of period | 27,986 | 12,741 | 14,775 | - |
Smith Douglas Homes Corp. (SDHC)
Smith Douglas Homes Corp. (SDHC)