SMITH MIDLAND CORP
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 14, 2024
SMID$21.51-17.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
| ASSETS | September 30, 2024 | December 31,2023 |
|---|---|---|
| Current assets | ||
| Cash | $9,013 | $9,175 |
| Accounts receivable, net | ||
| Trade - billed (less allowances of approximately $1,077 and $806, respectively), including contract retentions | 17,822 | 17,209 |
| Trade - unbilled | 914 | 525 |
| Inventories, net | ||
| Raw materials | 2,244 | 2,329 |
| Finished goods | 3,998 | 2,821 |
| Refundable income taxes | 23 | — |
| Prepaid expenses | 979 | 1,266 |
| Total current assets | 34,993 | 33,325 |
| Property and equipment, net | 31,189 | 27,680 |
| Other assets | 444 | 343 |
| Total assets | $66,626 | $61,348 |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share and per share data)
(continued)
| LIABILITIES AND STOCKHOLDERS' EQUITY | September 30, 2024 | December 31,2023 |
|---|---|---|
| Current liabilities | ||
| Accounts payable - trade | $5,427 | $7,336 |
| Accrued expenses and other liabilities | 852 | 831 |
| Deferred revenue | 2,792 | 2,717 |
| Accrued compensation | 1,381 | 1,203 |
| Accrued income taxes | — | 473 |
| Operating lease liabilities | 13 | 43 |
| Current maturities of notes payable | 651 | 636 |
| Customer deposits | 1,492 | 2,779 |
| Total current liabilities | 12,608 | 16,018 |
| Deferred revenue | 7,401 | 4,424 |
| Operating lease liabilities | — | 2 |
| Notes payable - less current maturities | 4,630 | 5,092 |
| Deferred tax liability | 1,650 | 1,651 |
| Total liabilities | 26,289 | 27,187 |
| 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; 5,346,526 and 5,349,599 issued and 5,304,606 and 5,308,679 outstanding, respectively | 54 | 54 |
| Additional paid-in capital | 7,712 | 7,814 |
| Treasury stock, at cost, 40,920 shares | (102) | (102) |
| Retained earnings | 32,673 | 26,395 |
| Total stockholders' equity | 40,337 | 34,161 |
| Total liabilities and stockholders' equity | $66,626 | $61,348 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.