SMITH MIDLAND CORP

For the period ended Sep 30, 2025. Filed Nov 14, 2025.

About this filing

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, 2025 · Filed Nov 14, 2025

SMID$21.51-17.8%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(in thousands, except per share data)

	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Revenue
Product sales	$11,911	$10,753	$34,459	$34,621
Barrier rentals	3,269	7,053	17,474	9,303
Royalty income	1,083	958	3,299	2,403
Shipping and installation revenue	5,188	4,818	15,103	13,650
Total revenue	21,451	23,582	70,335	59,977
Cost of sales	15,692	17,004	49,815	44,353
Gross profit	5,759	6,578	20,520	15,624
Operating expenses
General and administrative expenses	1,100	1,720	4,198	4,938
Selling expenses	805	1,010	2,563	2,655
Total operating expenses	1,905	2,730	6,761	7,593
Operating income	3,854	3,848	13,759	8,031
Other income (expense)
Interest expense	(44)	(56)	(161)	(175)
Interest income	72	22	85	36
Gain on sale of assets	—	16	—	19
Other income (expense), net	(11)	14	17	50
Total other income (expense)	17	(4)	(59)	(70)
Income before income tax expense	3,871	3,844	13,700	7,961
Income tax expense	994	694	3,325	1,683
Net income	$2,877	$3,150	$10,375	$6,278
Basic and diluted earnings per common share	$0.54	$0.59	$1.96	$1.18
Weighted average number of common shares outstanding:
Basic	5,305	5,304	5,305	5,283
Diluted	5,305	5,304	5,304	5,283

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.