{"url_path":"/sec/slnd-wt/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-12","source_url":"https://www.sec.gov/Archives/edgar/data/1883814/0001104659-26-059468-index.html","accession_number":"0001104659-26-059468","cik":"0001883814","ticker":"SLND","issuer_name":"Southland Holdings, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1883814/0001104659-26-059468-index.html","primary_entity_key":"0001883814","primary_entity_name":"Southland Holdings, Inc."},"word_count":1662,"has_tables":true,"body_markdown":"Southland Holdings, 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of Contents](#TOC)\n\n​\n\n​\n\n**UNITED STATES**\n\n**SECURITIES AND EXCHANGE COMMISSION**\n\n**Washington, D.C. 20549**\n\n**FORM ****10-Q**\n\n(Mark One)\n\n**☒****QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES**\n\n**EXCHANGE ACT OF 1934**\n\nFor the quarterly period ended: **March 31, 2026**\n\n**☐****TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES**\n\n**EXCHANGE ACT OF 1934**\n\nFor the transition period from                      to                \n\nCommission File Number: 001-41090\n\n****\n\n**Southland Holdings, Inc.**\n\n(Exact name of registrant as specified in its charter)\n\n​\n\n​\n\n​\n\n​\n\n**Delaware**\n\n**  ​ ​ ​**\n\n**87-1783910**\n\n(State or other jurisdiction of\nincorporation or organization)\n\n​\n\n(IRS Employer\nIdentification No.)\n\n​\n\n**1100 Kubota Dr.**\n\n**Grapevine****,****TX********76051**\n\n(Address of principal executive offices) (Zip Code)\n\n**(****817****)****293-4263**\n\n(Registrant’s telephone number, including area code)\n\nSecurities Registered Pursuant to Section 12(b) of the Act:\n\n​\n\n​\n\n​\n\n​\n\n​\n\nTitle of Each Class\n\n  ​ ​ ​\n\nTrading Symbol\n\n  ​ ​ ​\n\nName of Each Exchange on Which Registered\n\nCommon Stock, par value $0.0001 per share\n\n​\n\nSLND\n\n​\n\nNYSE American LLC\n\nRedeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share\n\n​\n\nSLND WS\n\n​\n\nNYSE American LLC\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     ☒**  ****Yes****  **☐** No**\n\n​\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     ☒** **** ****Yes****  **☐** No**\n\n​\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\nLarge accelerated filer\n\n☐\n\n​\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\n​\n\nSmaller reporting company\n\n☒\n\n​\n\n​\n\n​\n\nEmerging growth company\n\n☒\n\n​\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐\n\n​\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐**  Yes  **☒** No**\n\n​\n\nAs of May 1, 2026, there were 54,218,882 shares of common stock, par value $0.0001 per share, issued and outstanding.\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\n**SOUTHLAND HOLDINGS, INC.**\n\nTABLE OF CONTENTS\n\n​\n\n​\n\n​\n\n​\n\n**P****age**\n\n[**PART I – Financial Information**](#PARTIFINANCIALINFO)\n\n​\n\n[ITEM 1. Financial Statements](#ITEM_1_FINANCIAL_STMT)\n\n1\n\n[ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ManagementDiscussionandAnalysisofFinanci)\n\n23\n\n[ITEM 3. Quantitative and Qualitative Disclosures About Market Risk](#Item3QuantitativeandQualitative_322975)\n\n32\n\n[ITEM 4. Controls and Procedures](#Item4ControlsandProcedures_306979)\n\n32\n\n​\n\n​\n\n[**PART II – Other Information**](#PARTIIOTHERINFORMATION_368088)****\n\n33\n\n[ITEM 1. Legal Proceedings](#Item1LegalProceedings_630334)\n\n33\n\n[ITEM 1A. Risk Factors](#Item1ARiskFactors_241194)\n\n33\n\n[ITEM 5. Other Information](#Item5OtherInformation)\n\n33\n\n[ITEM 6. Exhibits](#Item6Exhibits_816677)\n\n34\n\n[Signatures](#SIGNATURES_203452)\n\n35\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Table of Contents](#TOC)\n\nUnless otherwise stated in this Quarterly Report on Form 10-Q (this “Quarterly Report”), references to the “Company,” “our,” “us,” “we,” or “Southland” refer to Southland Holdings, Inc. and its subsidiaries.\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the “Securities Act”), as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are based on the reasonable beliefs and assumptions of our management. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “intends” or similar expressions. Forward-looking statements contained in this Quarterly Report include, but are not limited to, statements about our ability to:\n\n●\n\nAccess, collect and use personal data about consumers;\n\n●\n\nExecute our business strategy, including monetization of services provided and expansions in and into existing and new lines of business;\n\n●\n\nAnticipate the uncertainties inherent in the development of new business lines and business strategies;\n\n●\n\nRetain and hire necessary employees;\n\n●\n\nIncrease brand awareness;\n\n●\n\nAttract, train and retain effective officers, key employees or directors;\n\n●\n\nUpgrade and maintain information technology systems;\n\n●\n\nPotential disruptions, failures or security breaches of the information technology systems on which we rely to conduct our business;\n\n●\n\nAcquire, develop and protect intellectual property;\n\n●\n\nMeet future liquidity requirements, maintain adequate working capital, and comply with restrictive covenants related to long-term indebtedness;\n\n●\n\nMaintain adequate bonding capacity;\n\n●\n\nEffectively respond to general economic, socioeconomic and other business conditions;\n\n●\n\nMaintain the listing of our securities on the NYSE American LLC or another national securities exchange;\n\n●\n\nObtain additional capital, including use of debt and capital markets;\n\n●\n\nAchieve or enhance future operating and financial results;\n\n●\n\nAnticipate rapid technological changes;\n\n●\n\nComply with laws and regulations applicable to its business, including but not limited to laws and regulations related to data privacy and insurance operations;\n\n●\n\nStay abreast of modified or new laws and regulations applying to our business;\n\n●\n\nAnticipate the impact of, and respond to, new accounting standards;\n\n●\n\nAnticipate any change in interest rates which would change our cost of capital;\n\n●\n\nAnticipate the significance and timing of contractual obligations;\n\n●\n\nMaintain key strategic relationships with customers, partners and distributors;\n\n●\n\nRespond to uncertainties associated with product and service development and market acceptance;\n\n●\n\nAnticipate the ability of the renewable sector or any other current or potential sectors to develop to the size or at the rate it expects;\n\n●\n\nAnticipate the impact of various federal, state, and local government funding initiatives;\n\n●\n\nManage to finance operations on an economically viable basis;\n\n●\n\nAnticipate the impact of new U.S. federal income tax law, including the impact on deferred tax assets;\n\n●\n\nSuccessfully defend, pursue or collect claims and litigation; and\n\n●\n\nAnticipate and respond to changes in the domestic or international trade laws, including tariffs.\n\n​\n\nForward-looking statements are not guarantees of performance and speak only as of the date hereof. While we believe that these forward-looking statements are reasonable, there can be no assurance that we will achieve or realize these plans, intentions, or expectations. You should understand that the following important factors, in addition to those discussed under the heading “Item 1A. Risk Factors” and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2025 (the “Annual Report”), “Item 1A. Risk Factors” to Part II in this Quarterly Report and other reports or documents we file with the\n\ni\n\n[Table of Contents](#TOC)\n\nSecurities and Exchange Commission (“SEC”), could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements in this Quarterly Report:\n\n●\n\nLitigation, complaints, product liability claims and/or adverse publicity;\n\n●\n\nThe impact of changes in consumer spending patterns, consumer preferences, local, regional and national economic conditions, crime, weather, demographic trends and employee availability;\n\n●\n\nIncreases and decreases in utility and other energy costs, increased costs related to utility or governmental requirements; and\n\n●\n\nPrivacy and data protection laws, privacy or data breaches or the loss of data.\n\n​\n\nThese and other factors that could cause actual results to differ from those implied by the forward-looking statements in this Quarterly Report are more fully described under the heading “Item 1A. Risk Factors” in the Annual Report and elsewhere in this Quarterly Report. The risks described under the heading “Item 1A. Risk Factors” in the Annual Report are not exhaustive. Other sections of this Quarterly Report may describe additional factors that could adversely affect our business, financial condition or results of operations. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on the business, nor the extent to which any factor or combination of facts may cause actual results to differ materially from those contained in any forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.\n\nIn addition, statements of belief and similar statements reflect our reasonable beliefs and opinions on the relevant subject. These statements are based upon information available to us, as applicable, as of the date of this Quarterly Report, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and such statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain, involve risks and are subject to change based on various factors, including those discussed under the headings “Item 1A. Risk Factors” and “Item 2. Management Discussion and Analysis of Financial Condition and Results of Operations” in this Quarterly Report.\n\n​\n\n​\n\n​\n\nii\n\n[Table of Contents](#TOC)\n\nPART I – FINANCIAL INFORMATION"}