Financial Performance - Home closing revenue for the three months ended June 30, 2024, was $220.93 million, an increase of 21.7% compared to $181.52 million for the same period in 2023[19]. - Gross profit from home closings for the same period was $59.06 million, up from $52.70 million, reflecting a gross margin improvement[19]. - Net income for the three months ended June 30, 2024, was $24.73 million, compared to $30.74 million in the prior year, indicating a decrease of 19.5%[19]. - Adjusted net income attributable to Smith Douglas Homes Corp. for the six months ended June 30, 2024, was $6.62 million[19]. - Total revenue for the three months ended June 30, 2024, was $220.9 million, an increase from $181.5 million for the same period in 2023, representing a growth of 21.7%[67]. - Net income for the six months ended June 30, 2024, was $45,220,000, a decrease of 24% compared to $59,567,000 for the same period in 2023[26]. - The company reported a net income of $24.7 million for Q2 2024, down from $30.7 million in Q2 2023, and a net income of $45.2 million for the first six months of 2024, compared to $59.6 million in the same period of 2023[78]. - Adjusted net income for Q2 2024 was $19,399, down from $23,056 in Q2 2023, representing a 15.0% decrease[96]. - EBITDA for Q2 2024 was $25,866, compared to $30,741 in Q2 2023, indicating a decline of 15.9%[96]. Assets and Liabilities - Total assets increased to $429.25 million as of June 30, 2024, from $352.69 million at the end of 2023, representing a growth of 21.7%[18]. - Total liabilities decreased significantly to $84.70 million from $143.79 million, a reduction of 41%[18]. - As of June 30, 2024, total equity for Smith Douglas Homes Corp. stands at $344,559,000, reflecting a decrease of $11,819,000 from the previous period[22]. - The balance on the seller note payable decreased from $4.6 million as of December 31, 2023, to $3.9 million as of June 30, 2024[20]. - The company reported a net-debt-to-net book capitalization of (4.1)% as of June 30, 2024, compared to 21.1% as of December 31, 2023[99]. - The debt-to-book capitalization ratio improved to 1.1% as of June 30, 2024, from 26.6% as of December 31, 2023[99]. Cash Flow and Investments - Cash and cash equivalents as of June 30, 2024, were $17.30 million, down from $19.78 million[18]. - The balance of cash flows from operating activities for the six months ending June 30, 2023, shows a net increase of $30,694,000[24]. - Net cash used in operating activities was $(9,234,000) for the six months ended June 30, 2024, compared to $35,902,000 for the same period in 2023[26]. - The company experienced a net cash used in investing activities of approximately $3.2 million for the six months ended June 30, 2024, compared to $0.2 million in 2023, primarily due to purchases of property and equipment[108]. - Net cash provided by financing activities was approximately $9.9 million for the six months ended June 30, 2024, a substantial increase from the net cash used of $53.9 million in 2023, attributed to net proceeds from the IPO and Reorganization Transactions of $115.7 million[108]. Market and Growth Strategy - The company anticipates future growth despite potential risks, including tightening mortgage lending standards and fluctuations in the housing market[16]. - The company is focused on maintaining an adequate inventory of lots at reasonable prices to support its growth strategy[16]. - The company aims to expand operations within existing markets and into new markets to maximize profit and returns[70]. - The company’s business model focuses on entry-level and empty-nest homebuyers, providing a personalized home buying experience at affordable price points[70]. - The company’s lot acquisition strategy reduces upfront capital requirements and aligns home orders with home starts, mitigating operational and financial risks[70]. Inventory and Construction - As of June 30, 2024, total real estate inventory increased to $266.6 million from $213.1 million as of December 31, 2023, representing a 25% growth[42]. - Homes under construction, completed homes, and model homes rose to $228.7 million as of June 30, 2024, compared to $180.9 million at the end of 2023, indicating a 26% increase[42]. - The company controlled 15,842 lots at the end of Q2 2024, significantly up from 8,770 lots at the end of Q2 2023[80]. - The company had 587 owned unstarted lots in real estate inventory, representing only 3.7% of the total controlled lot supply as of June 30, 2024[70]. - The backlog of homes at the end of Q2 2024 was 1,173 units, an increase from 985 units at the end of Q2 2023[80]. Acquisitions and IPO - The company completed an IPO on January 16, 2024, raising approximately $172.8 million from the issuance of 8,846,154 shares of Class A common stock at $21.00 per share[31]. - The acquisition of Devon Street Homes significantly contributed to the increase in backlog homes and contract value as of June 30, 2024[91]. - The company plans to use a portion of the net proceeds from the IPO for potential acquisitions or investments, although no material agreements are currently in place[101]. Tax and Compliance - The Company recognized tax benefits under the Tax Receivable Agreement (TRA), which will provide for the payment of 85% of tax benefits realized related to tax basis adjustments[40]. - The company is required to make cash payments under the Tax Receivable Agreement equal to 85% of the tax benefits realized, which is expected to be significant and may impact overall cash flow[105]. - As of June 30, 2024, the Company was in compliance with all covenants related to the Amended Credit Facility[47]. Risks and Market Conditions - The company is exposed to market risk from changes in interest rates and inflation, which arise in the normal course of business[115]. - The company is open to seeking additional capital to enhance liquidity and acquire finished lot inventory in response to competitive market conditions[102].

Financial Data and Key Metrics Changes - Smith Douglas reported pre-tax income of $25.9 million, translating to $0.40 per diluted share for Q2 2024, with net income of $24.7 million [5][10] - Home closing revenue reached $220.9 million, with a gross margin of 26.7%, exceeding guidance due to solid demand and cost containment [5][10] - Adjusted net income for the quarter was $19.4 million, assuming a 25% effective tax rate [11] Business Line Data and Key Metrics Changes - The company closed 653 homes in Q2 2024, a 17% increase year-over-year, with net new home orders at 715, also a 17% increase [5][10] - The average sales price of closed homes was $338,000, with a backlog of 1,173 homes at an average selling price of $345,000 [10][12] Market Data and Key Metrics Changes - The company experienced favorable operating conditions, including low existing home inventory and healthy job growth [5][6] - The total controlled lots increased by 81% year-over-year, totaling over 15,800 lots [12] Company Strategy and Development Direction - The company focuses on operational efficiency and a disciplined culture to improve homebuilding processes [7] - A land lot strategy prioritizes minimizing land risk through option agreements, with 96% of unstarted controlled lots secured this way [8] - The company aims to grow homebuilding operations and expand its market presence, particularly outside Atlanta [9][50] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current operational state and the macro environment, anticipating continued demand for homeownership [9] - The outlook for Q3 2024 includes home closings between 725 and 775 homes, with an average sales price between $340,000 and $345,000 [13][14] - Risks to projections include maintaining sales pace and potential delays in permitting [14] Other Important Information - The company ended the quarter with approximately $17 million in cash and no borrowings under its credit facility, indicating a strong balance sheet [13] - A one-time charge of $1.2 million related to a purchase accounting adjustment was included in the net income for the quarter [11] Q&A Session Summary Question: Update on community count growth and thoughts for next year - Management expects to end the year with 76 to 80 communities, with some coming offline due to exceeding sales [16] Question: Demand trends over the last few months - Current demand trends are slightly below typical seasonality, with recent weeks showing good demand despite seasonal interruptions [18][19] Question: Margins for the Devon Street division compared to legacy business - Integration is progressing well, with margins in the mid-20s, consistent with legacy business expectations [22] Question: Drivers for the increase in gross margin outlook - The increase is due to better-than-expected sales margins, with land costs being the primary driver of margin erosion [24] Question: Backlog margins and assumptions for Q3 - Backlog margins are expected to be around 26%, with mix-related factors influencing Q3 performance [28] Question: Incentives being offered and competitive pressure - Incentives remain consistent, with most buyers opting for closing cost credits rather than buy downs [43][44] Question: Orders in the Houston division and seasonal trends - Seasonal trends impacted orders, with the first quarter performing better than expected [48] Question: Land position and opportunities - The company is actively pursuing land deals and expanding its footprint, particularly in Georgia [50][51]

Financial Performance - Revenue rose 22% to $220.9 million in Q2 2024[1] - Net income for Q2 2024 was $24.734 million, down from $30.741 million in Q2 2023, a decrease of 19.5%[14] - Adjusted net income for the three months ended June 30, 2024, was $19,399 thousand, down from $23,056 thousand for the same period in 2023[20] - For the six months ended June 30, 2024, adjusted net income was $35,455 thousand, compared to $44,675 thousand for the same period in 2023, showing a decline in profitability[20] - Income before income taxes for the three months ended June 30, 2024, was $25,866 thousand, compared to $30,741 thousand for the same period in 2023, reflecting a decrease in pre-tax earnings[20] Orders and Closings - Net new orders increased 17% to 715 compared to Q2 2023[1] - Home closings increased 17% to 653 year-over-year[1] - Home closings increased to 653 in Q2 2024 from 560 in Q2 2023, representing a growth of 16.6%[8] - Net new home orders reached 715 in Q2 2024, compared to 612 in Q2 2023, reflecting a 16.9% increase[8] - The backlog of homes at the end of Q2 2024 was 1,173, up from 985 in Q2 2023, indicating an increase of 19.1%[11] Backlog and Lot Control - Backlog homes increased 19% to 1,173, with a sales value of backlog homes rising 23% to $404.7 million[1] - The contract value of backlog homes rose to $404.750 million in Q2 2024, compared to $330.258 million in Q2 2023, a growth of 22.5%[11] - Total controlled lots increased 81% to 15,842[1] - Total controlled lots increased to 15,842 as of June 30, 2024, from 8,770 in 2023, representing an 80.3% increase[13] Financial Position - Cash at the end of the quarter was over $17 million, with zero borrowings under the credit facility[1] - The company reported a net-debt-to-net book capitalization of (4.1)%[1] - The total assets increased to $429.3 million from $352.7 million as of December 31, 2023[6] - As of June 30, 2024, total debt is $3,859 thousand, significantly down from $75,627 thousand on December 31, 2023, indicating a reduction in debt levels[18] - Stockholders' equity increased to $344,559 thousand as of June 30, 2024, compared to $208,903 thousand on December 31, 2023, reflecting strong equity growth[18] - The net-debt-to-net book capitalization improved to (4.1)% as of June 30, 2024, from 21.1% on December 31, 2023, indicating a stronger financial position[18] - The total capitalization as of June 30, 2024, was $348,418 thousand, up from $284,530 thousand on December 31, 2023, indicating growth in overall capital structure[18] - The company’s net debt position improved to (13,439) thousand as of June 30, 2024, compared to a net debt of $55,850 thousand on December 31, 2023, highlighting a significant reduction in net debt[18] - The debt-to-book capitalization ratio decreased to 1.1% as of June 30, 2024, from 26.6% on December 31, 2023, indicating a healthier balance sheet[18] Pricing and Market Conditions - The average selling price (ASP) of homes closed rose to $338,000 in Q2 2024, up from $324,000 in Q2 2023, marking a 4.3% increase[8] - The contract value of net new home orders was $243.842 million in Q2 2024, up from $206.130 million in Q2 2023, a growth of 18.3%[8] - The cancellation rate increased to 11.8% in Q2 2024 from 8.7% in Q2 2023[8] Tax and Regulatory Changes - The provision for income taxes for the three months ended June 30, 2024, was $1,132 thousand, while there was no provision for the same period in 2023, indicating a change in tax strategy[20]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________________ to ___________________ Commission File Number: 001-41917 Smith Douglas Homes Corp. (Exact Name of Registrant as Specified in its Charter) (S ...

Financial Data and Key Metrics Changes - The company generated pre-tax income of $21.4 million in Q1 2024, with diluted EPS of $0.33 [30] - Home sales revenue reached $189 million, reflecting a 13% increase in deliveries [30] - Gross margin for the quarter was reported at 26.1%, with SG&A expenses at 14.6% of revenue [59] Business Line Data and Key Metrics Changes - The average sales price for closed homes was $334,000, with new orders totaling 765 homes [30][39] - The backlog consisted of 1,110 homes with an average selling price of $343,000 and expected gross margin of approximately 26.5% [63][96] Market Data and Key Metrics Changes - The company noted strong traffic across all divisions, with a sales pace of 3.6 homes per community per month [30][67] - The cancellation rate remained low at 10.6%, indicating stable demand [30] Company Strategy and Development Direction - The company aims to expand its geographic footprint both organically and through strategic M&A, focusing on affordable segments of the market [35][37] - The integration of Devon Street Homes in Houston is progressing well, with positive feedback from the sales team [37][17] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism about the housing market, citing strong job creation and in-migration as positive demand drivers [35][38] - The company anticipates home closings for Q2 2024 to be between 600 and 625 homes, with an average sales price between $335,000 and $340,000 [65] Other Important Information - The company ended the quarter with approximately $33 million in cash and no borrowings under its $250 million revolving credit facility [43] - The effective tax rate for GAAP purposes was reported at 4.3% [40] Q&A Session Summary Question: Clarification on tax rate differences for GAAP and EPS - Management confirmed that the tax rate for GAAP purposes differs from that used for calculating EPS, and offered to discuss details offline [6][26] Question: Incentives post-quarter end - Management indicated that incentives have remained consistent with Q1, forecasting no significant changes due to expected prolonged higher rates [7] Question: Legacy Smith Douglas markets performance - Management noted that closings were flat, with some declines in specific markets due to timing and community openings, rather than demand issues [11][12] Question: Houston market implementation - Management reported successful implementation of sales processes in Houston, with positive reception from the team [16][17] Question: Backlog gross margin expectations - Management stated that the backlog gross margin is currently at 26.5%, with expectations for it to remain stable [24][96] Question: Changes in pricing and incentives - Management confirmed that pricing has remained stable, with some increases in certain areas, and no significant changes in incentives expected [74][75] Question: Lot costs and inflation - Management acknowledged increases in lot costs and inflation pressures, particularly for finished lots, but noted these would impact future guidance rather than current projections [93][94] Question: Devon Street margins relative to expectations - Management indicated that margins from the Devon Street acquisition are coming in better than anticipated, aided by favorable purchase accounting adjustments [95][96]

Exhibit 99.1 Smith Douglas Homes Reports First Quarter 2024 Results ATLANTA, May 14, 2024 (Business Wire) – Smith Douglas Homes Corp. (NYSE: SDHC) ("Smith Douglas" or the "Company") today announced first quarter results for the three months ended March 31, 2024. Q1 2024 Results as compared to Q1 2023: Greg Bennett, Vice Chairman and Chief Executive Officer, commented, "We are pleased by the results this quarter, our first as a public company, during which we completed our IPO in January and concurrently ame ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10‑K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41917 Smith Douglas Homes Corp. (Exact name of Registrant as specified in its Charter) Delaware (State or other jurisdiction of inco ...

Orders and Backlog - The company reported a net new orders increase of 22.8%, totaling 2,368 homes[7] - Backlog homes rose by 18.3% to 912, with a sales value of backlog homes increasing by 20.1% to $310.7 million[7] - The cancellation rate improved to 10.5% from 10.9% in the prior year, indicating better order retention[4][11] Home Closings and Revenue - Home closings increased by 4.4% to 2,297, while revenue grew by 1.2% to $764.6 million[7] - The average selling price (ASP) of homes closed decreased by 2.9% to $333, while the ASP of net new home orders fell by 3.2% to $335[11] Financial Performance - Net income decreased by 12.3% to $123.2 million, with a debt-to-book capitalization of 26.6%[7] - The company successfully raised over $125 million in its IPO and secured a $250 million unsecured credit facility[5] Growth Strategy - The company aims to double home closings over the next five years, reflecting a strong growth strategy[5] - The company had 69 active communities at year-end, up from 53 the previous year, representing a 30.2% increase[4][11] - Total controlled lots increased by 48.3% to 12,821, with homes under construction rising by 27.8% to 796[11]

Smith Douglas Homes Corp. (NYSE:SDHC) Q4 2023 Results Conference Call March 20, 2024 8:30 AM ET Company Participants Eddy Kleid - VP, Finance Greg Bennett - VC, CEO Russ Devendorf - EVP, CFO Tom Bradbury - Founder, Executive Chairman Conference Call Participants Andrew Azzi - JPMorgan Mike Dahl - RBC Capital Markets Jay McCanless - Wedbush Sam Reid - Wells Fargo Operator Good morning. My name is Dennis, and I will be your conference operator today. At this time, I would like to welcome everyone to the Smith ...

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on January 3, 2024 Registration No. 333-274379 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 3 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Smith Douglas Homes Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Delaware 1531 93-1969003 (I.R.S. Empl ...