Quarterly report [Sections 13 or 15(d)]

Consolidated Statements of Cash Flows - (Unaudited)

v3.25.1
Consolidated Statements of Cash Flows - (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net (loss) income $ (7,089) $ 734
Adjustments to reconcile net (loss) income to net cash from operating activities:    
Depreciation and amortization 2,148 1,320
Real estate inventories impairment 1,500 0
Stock-based compensation 770 678
Abandoned project costs 25 256
Deferred taxes (2,808) (183)
Changes in operating assets and liabilities:    
Cash held in escrow (11,642) 30,631
Real estate inventories 12,685 (50,929)
Due from affiliates (134) (114)
Other assets 6,171 (20,298)
Accounts payable 618 10,738
Accrued expenses and other liabilities (12,326) (6,068)
Due to affiliates 6 0
Net cash used in operating activities (10,076) (33,235)
Cash flows from investing activities:    
Purchases of property and equipment (1,890) (1,907)
Net cash used in investing activities (1,890) (1,907)
Cash flows from financing activities:    
Borrowings from notes, other debts payable, and other liabilities 201,800 117,654
Repayments of notes, other debts payable, and other liabilities (205,452) (65,000)
Cash paid for shares withheld for taxes (519) (675)
Proceeds from exercise of stock options 95 736
Repurchases of common stock 0 (6,452)
Distributions to noncontrolling interests (47) (6,793)
Deferred offering costs paid (20) (2,324)
Debt issuance and modification costs paid (473) (67)
Net cash (used in) provided by financing activities (4,616) 37,079
Net (decrease) increase in cash and cash equivalents (16,582) 1,937
Cash and cash equivalents at beginning of period 53,322 119,555
Cash and cash equivalents at end of period $ 36,740 $ 121,492