SMITH MIDLAND CORP

For the period ended Jun 30, 2026. Filed Aug 14, 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.

Jun 30, 2026 · Filed Aug 14, 2026

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

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Contents

Condensed Consolidated Balance Sheets

S****mith-Midland Corporation

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

ASSETS	June 30, 2026	December 31,2025
Current assets
Cash	$10,663	$11,884
Accounts receivable, net
Trade - billed (less allowances of approximately $871 and $539, respectively), including contract retentions	22,785	27,228
Trade – unbilled	1,785	1,173
Inventories, net
Raw materials	1,979	1,710
Finished goods	6,555	5,218
Prepaid expenses	1,127	1,511
Income tax receivable	1,190	23
Total current assets	46,084	48,747
Property and equipment, net	40,008	38,478
Other assets	601	504
Total assets	$86,693	$87,729

Smith-Midland Corporation

Condensed Consolidated Balance Sheets

(in thousands, except share and per share data)

(continued)

LIABILITIES AND STOCKHOLDERS' EQUITY	June 30, 2026	December 31,2025
Current liabilities
Accounts payable - trade	$5,647	$5,482
Accrued expenses and other liabilities	1,044	907
Deferred revenue	1,505	1,128
Accrued compensation	1,715	2,164
Accrued income taxes	—	1,602
Operating lease liabilities	21	20
Current maturities of notes payable	661	648
Customer deposits	757	2,381
Total current liabilities	11,350	14,332
Deferred revenue	13,305	13,763
Operating lease liabilities	59	70
Notes payable - less current maturities	3,475	3,799
Deferred tax liability	1,465	1,461
Total liabilities	29,654	33,425
Commitments and contingencies (Note 5)
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; 5,347,882 and 5,347,474 issued and 5,306,962 and 5,306,554 outstanding as of June 30, 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	49,296	46,576
Total stockholders' equity	57,039	54,304
Total liabilities and stockholders' equity	$86,693	$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.