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
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months EndedSeptember 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $6,278 | $565 |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 1,996 | 1,795 |
| (Gain) loss on sale of property and equipment | (19) | (252) |
| Allowance for credit losses | 271 | (53) |
| Stock compensation | 40 | 261 |
| Settlement of restricted stock | (142) | — |
| Deferred taxes | (1) | — |
| (Increase) decrease in | ||
| Accounts receivable - billed | (884) | (630) |
| Accounts receivable - unbilled | (389) | (254) |
| Inventories | (1,092) | (390) |
| Prepaid expenses and other assets | 186 | (685) |
| Refundable income taxes | (23) | 1 |
| Increase (decrease) in | ||
| Accounts payable - trade | (1,909) | (340) |
| Accrued expenses and other liabilities | 21 | 383 |
| Deferred revenue | 3,052 | 1,288 |
| Accrued compensation | 178 | (14) |
| Accrued income taxes | (473) | 89 |
| Customer deposits | (1,287) | 1,699 |
| Net cash provided by (used in) operating activities | 5,803 | 3,463 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (5,543) | (4,131) |
| Proceeds from the sale of property and equipment | 25 | 252 |
| Net cash provided by (used in) investing activities | (5,518) | (3,879) |
| Cash flows from financing activities: | ||
| Repayments of long-term borrowings | (447) | (461) |
| Net cash provided by (used in) financing activities | (447) | (461) |
| Net increase (decrease) in cash | (162) | (877) |
| Cash | ||
| Beginning of period | 9,175 | 6,726 |
| End of period | $9,013 | $5,849 |
| Supplemental Cash Flow Information: | ||
| Cash payments for interest | $175 | $192 |
| Cash payments for income taxes | $1,558 | $6 |
| Non-Cash Investing Activities | ||
| Capital expenditures in accounts payable | $478 | $2,625 |
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