NASDAQ: SMID
SMITH MIDLAND CORPCIK 0000924719 · SIC 3272 · Concrete Products, Except Block & Brick
Every 8-K is open in full. Other 10-Ks and 10-Qs show a 3-bullet preview. A free account reads 3 more full reports a month. Generating a report requires a verified account.
Sign up freeWant to see a complete report first? Today's free report (P 10-Q) is open in full — no account needed.
Summary not yet generated.
Summary not yet generated.
Partner
Trade SMID commission-free
Open an account, get a free stock.
Investing involves risk. Free stock terms apply.
Summary not yet generated.
Summary not yet generated.
Smith Midland files routine investor presentation materials under Regulation FD
2 material changes detected. Sign up free to read the summary.
SMID: revenue $21.6M, net income $1.3M. SMID Q1 profit drops 60% on lost high-margin project; material weaknesses persist after year
5 material changes detected. Sign up free to read the summary.
Smith Midland reports Q1 2026 financial results ending March 1
1 material change detected. Sign up free to read the summary.
Smith Midland receives Nasdaq delisting warning for late Q1 2026 filing
4 material changes detected. Sign up free to read the summary.
Smith-Midland reports full-year 2025 financial results
2 material changes detected. Sign up free to read the summary.
SMID revenue up 19% to $93.4M, net income +63% to $12.5M; material control weaknesses persist
5 material changes detected. Sign up free to read the summary.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Income (Unaudited)
(in thousands, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | ||||
| Product sales | 11,202 | 13,436 | 22,988 | 22,548 |
| Barrier rentals | 3,212 | 5,781 | 5,413 | 14,205 |
| Royalty income | 929 | 1,326 | 1,752 | 2,216 |
| Shipping and installation revenue | 8,020 | 5,643 | 14,782 | 9,915 |
| Total revenue | 23,363 | 26,186 | 44,935 | 48,884 |
| Cost of sales | 17,944 | 18,400 | 35,213 | 34,123 |
| Gross profit | 5,419 | 7,786 | 9,722 | 14,761 |
| Operating expenses | ||||
| General and administrative expenses | 2,483 | 1,514 | 4,236 | 3,098 |
| Selling expenses | 951 | 754 | 1,773 | 1,758 |
| Total operating expenses | 3,434 | 2,268 | 6,009 | 4,856 |
| Operating income | 1,985 | 5,518 | 3,713 | 9,905 |
| Other income (expense) | ||||
| Interest expense | (66) | (62) | (113) | (117) |
| Interest income | 51 | 6 | 116 | 13 |
| Other income (expense) | (155) | 20 | (140) | 28 |
| Total other income (expense) | (170) | (36) | (137) | (76) |
| Income before income tax expense | 1,815 | 5,482 | 3,576 | 9,829 |
| Income tax expense | 434 | 1,311 | 856 | 2,331 |
| Net income | 1,381 | 4,171 | 2,720 | 7,498 |
| Basic and diluted earnings per common share | 0.26 | 0.79 | 0.51 | 1.41 |
| Weighted average number of common shares outstanding: | ||||
| Basic | 5,307 | 5,305 | 5,307 | 5,305 |
| Diluted | 5,307 | 5,305 | 5,307 | 5,305 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Current assets | ||
| Cash | 10,663 | 11,884 |
| Accounts receivable, net | ||
| Trade billed (less allowances of approximately $871 and $539, respectively), including contract retentions | 22,785 | 27,228 |
| Trade unbilled | 1,785 | 1,173 |
| Inventories, net | ||
| Raw materials | 1,979 | 1,710 |
| Finished goods | 6,555 | 5,218 |
| Prepaid expenses | 1,127 | 1,511 |
| Income tax receivable | 1,190 | 23 |
| Total current assets | 46,084 | 48,747 |
| Property and equipment, net | 40,008 | 38,478 |
| Other assets | 601 | 504 |
| Total assets | 86,693 | 87,729 |
| Current liabilities | ||
| Accounts payable trade | 5,647 | 5,482 |
| Accrued expenses and other liabilities | 1,044 | 907 |
| Deferred revenue | 1,505 | 1,128 |
| Accrued compensation | 1,715 | 2,164 |
| Accrued income taxes | — | 1,602 |
| Operating lease liabilities | 21 | 20 |
| Current maturities of notes payable | 661 | 648 |
| Customer deposits | 757 | 2,381 |
| Total current liabilities | 11,350 | 14,332 |
| Deferred revenue | 13,305 | 13,763 |
| Operating lease liabilities | 59 | 70 |
| Notes payable less current maturities | 3,475 | 3,799 |
| Deferred tax liability | 1,465 | 1,461 |
| Total liabilities | 29,654 | 33,425 |
| Commitments and contingencies (Note 5) | ||
| Stockholders’ equity | ||
| Preferred stock, $0.01 par value; authorized 1,000,000 shares, none issued and outstanding | — | — |
| Common stock, $0.01 par value; authorized 8,000,000 shares; 5,347,882 and 5,347,474 issued and 5,306,962 and 5,306,554 outstanding as of June 30, 2026 and December 31, 2025, respectively | 54 | 54 |
| Additional paid-in capital | 7,791 | 7,776 |
| Treasury stock, at cost, 40,920 shares | (102) | (102) |
| Retained earnings | 49,296 | 46,576 |
| Total stockholders' equity | 57,039 | 54,304 |
| Total liabilities and stockholders' equity | 86,693 | 87,729 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 2,720 | 7,498 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 1,986 | 1,302 |
| (Gain) loss on sale of property and equipment | (1) | — |
| Allowance for credit losses | 332 | 198 |
| Stock compensation | 15 | 10 |
| Deferred taxes | 4 | (10) |
| (Increase) decrease in | ||
| Accounts receivable billed | 4,111 | (11,091) |
| Accounts receivable unbilled | (612) | 87 |
| Inventories | (1,606) | (508) |
| Prepaid expenses and other assets | 287 | (828) |
| Income tax receivable | (1,167) | |
| — | ||
| Increase (decrease) in | ||
| Accounts payable trade | 205 | 781 |
| Accrued expenses and other liabilities | 127 | 7 |
| Deferred revenue | (81) | 3,698 |
| Accrued compensation | (449) | 24 |
| Accrued income taxes | (1,602) | 134 |
| Customer deposits | (1,624) | 1,098 |
| Net cash provided by (used in) operating activities | 2,645 | 2,400 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (3,555) | (2,515) |
| Net cash provided by (used in) investing activities | (3,555) | (2,515) |
| Cash flows from financing activities: | ||
| Repayments of long-term borrowings | (311) | (332) |
| Net cash provided by (used in) financing activities | (311) | (332) |
| Net increase in cash | (1,221) | (447) |
| Cash | ||
| Beginning of period | 11,884 | 7,548 |
| End of period | 10,663 | 7,101 |
| Supplemental Cash Flow Information: | ||
| Cash payments for interest | 113 | 117 |
| Cash payments for income taxes | 3,621 | 2,175 |
| Non-Cash Investing Activities | ||
| Capital expenditures in accounts payable | 86 | 570 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share data); (in thousands, except share and per share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗