SMITH MIDLAND CORP

For the period ended Mar 31, 2026. Filed Jun 10, 2026.

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.

Mar 31, 2026 · Filed Jun 10, 2026

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

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Contents

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

ASSETS	March 31, 2026	December 31,2025
Current assets
Cash	$13,218	$11,884
Accounts receivable, net
Trade - billed (less allowances of approximately $651 and $539, respectively), including contract retentions	28,052	27,228
Trade - unbilled	1,836	1,173
Inventories, net
Raw materials	1,741	1,710
Finished goods	5,476	5,218
Prepaid expenses	1,269	1,511
Refundable income taxes ex	23	23
Total current assets	51,615	48,747
Property and equipment, net	39,975	38,478
Other assets	605	504
Total assets	$92,195	$87,729

(unaudited)

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

(continued)

LIABILITIES AND STOCKHOLDERS' EQUITY	March 31, 2026	December 31,2025
Current liabilities
Accounts payable - trade	$8,266	$5,482
Accrued expenses and other liabilities	205	907
Deferred revenue	945	1,128
Accrued compensation	2,409	2,164
Accrued income taxes	2,024	1,602
Operating lease liabilities	21	20
Current maturities of notes payable	655	648
Customer deposits	2,051	2,381
Total current liabilities	16,576	14,332
Deferred revenue	14,810	13,763
Operating lease liabilities	65	70
Notes payable - less current maturities	3,626	3,799
Deferred tax liability	1,460	1,461
Total liabilities	36,537	33,425
Commitments and contingencies (Note 9)
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; 5,347,474 and 5,347,474 issued and 5,306,554 and 5,306,554 outstanding as of March 31, 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	47,915	46,576
Total stockholders' equity	55,658	54,304
Total liabilities and stockholders' equity	$92,195	$87,729

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.