Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and cash equivalents	$ 14,200	$ 12,741
Real estate inventory	331,216	298,637
Deposits on real estate under option or contract	139,288	138,763
Real estate not owned	24,251	28,051
Property and equipment, net	9,206	9,720
Goodwill	25,726	25,726
Deferred tax asset, net	9,612	9,666
Other assets	38,603	34,289
Total assets	592,102	557,593
Liabilities:
Accounts payable	26,943	1,938
Customer deposits	6,027	3,108
Notes payable	66,026	44,075
Liabilities related to real estate not owned	24,251	28,051
Accrued expenses and other liabilities	26,517	26,428
Tax receivable agreement liability	9,382	9,857
Total liabilities	159,146	113,457
Commitments and contingencies (Note 9)
Equity:
Preferred stock	0	0
Additional paid-in capital	62,122	60,610
Retained earnings	26,924	26,113
Treasury stock, at cost	(9,588)	0
Total stockholders’ equity attributable to Smith Douglas Homes Corp.	79,463	86,728
Non-controlling interests attributable to Smith Douglas Holdings LLC	353,493	357,408
Total equity	432,956	444,136
Total liabilities and equity	592,102	557,593
Class A Common Stock
Equity:
Common stock	1	1
Class B Common Stock
Equity:
Common stock	$ 4	$ 4