NASDAQ: SMID
SMITH MIDLAND CORPCIK 0000924719 · Concrete Products, Except Block & Brick
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Smith Midland files routine investor presentation materials under Regulation FD
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SMID Q1 profit drops 60% on lost high-margin project; material weaknesses persist after year
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Smith Midland reports Q1 2026 financial results ending March 1
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Smith Midland receives Nasdaq delisting warning for late Q1 2026 filing
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Smith-Midland reports full-year 2025 financial results
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SMID revenue up 19% to $93.4M, net income +63% to $12.5M; material control weaknesses persist
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Latest financial statements
From 10-Q filed Jun 10, 2026 (period ending Mar 31, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 21.6 | 22.7 |
| Cost of revenue / cost of sales | 17.3 | 15.7 |
| Gross profit | 4.3 | 7.0 |
| Operating expenses: | ||
| Sales and marketing | 0.8 | 1.0 |
| General and administrative | 1.8 | 1.6 |
| Total operating expenses | 2.6 | 2.6 |
| Operating income | 1.7 | 4.4 |
| Interest expense | 0.05 | 0.06 |
| Other income/(expense), net | 0.03 | (0.04) |
| Income before income taxes | 1.8 | 4.3 |
| Income tax expense/(benefit) | 0.4 | 1.0 |
| Net income | 1.3 | 3.3 |
| Basic earnings per share | 0.25 | 0.63 |
| Diluted earnings per share | 0.25 | 0.62 |
Consolidated Balance Sheets (Unaudited)
| Description | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| Current assets: | ||
| Accounts receivable, net | 28.1 | 22.9 |
| Prepaid expenses and other current assets | 1.3 | 1.2 |
| Other current assets | 22.3 | 17.4 |
| Total current assets | 51.6 | 41.6 |
| Property, plant and equipment, net | 40.0 | 32.7 |
| TOTAL ASSETS | 92.2 | 74.7 |
| Current liabilities: | ||
| Accounts payable | 8.3 | 5.8 |
| Current portion of operating lease liabilities | 0.02 | 0.02 |
| Accrued liabilities | 0.2 | 0.4 |
| Income taxes payable | 2.6 | |
| Deferred revenue, current | 0.9 | 4.5 |
| Other current liabilities | 7.1 | 4.0 |
| Total current liabilities | 16.6 | 17.3 |
| Operating lease liabilities | 0.07 | 0.09 |
| Other long-term liabilities | 19.9 | 12.2 |
| Total liabilities | 36.5 | 29.6 |
| Shareholders' equity: | ||
| Common stock | 0.05 | 0.05 |
| Capital in excess of stated value | 7.8 | 7.7 |
| Retained earnings (deficit) | 47.9 | 37.4 |
| Treasury stock | 0.1 | 0.1 |
| Total shareholders' equity | 55.7 | 45.1 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 92.2 | 74.7 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | 3.1 | 2.2 |
| Investing Activities: | ||
| Net cash from investing activities | (1.6) | (0.6) |
| Financing Activities: | ||
| Net cash from financing activities | (0.2) | (0.2) |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗