$SMID
SMITH MIDLAND CORP Stock $smid

$smid Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000165495423006593 Filed on May 15, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q4
Revenue	$14.70M	$12.84M	$14.49M
YoY Change	10.9%	23.07%	44.62%
Cost Of Revenue	$12.91M	$10.68M	$11.98M
YoY Change	28.82%	21.5%	52.91%
Gross Profit	$1.786M	$2.166M	$2.508M
YoY Change	-44.71%	31.43%	14.89%
Gross Profit Margin	12.15%	16.87%	17.31%
Selling, General & Admin	$2.767M	$2.112M	$2.582M
YoY Change	29.66%	15.98%	9.31%
% of Gross Profit	154.93%	97.51%	102.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$590.0K	$594.0K	$754.0K
YoY Change	-15.35%	-15.5%	8.49%
% of Gross Profit	33.03%	27.42%	30.06%
Operating Expenses	$2.767M	$2.112M	$2.582M
YoY Change	29.66%	15.98%	9.31%
Operating Profit	-$981.0K	$54.00K	-$74.00K
YoY Change	-189.51%	-131.21%	-58.66%
Interest Expense	$64.00K	$64.00K	-$68.00K
YoY Change	-9.86%	33.33%	74.36%
% of Operating Profit		118.52%
Other Income/Expense, Net	$89.00K	$49.00K	$20.00K
YoY Change	-45.06%	145.0%	-35.48%
Pretax Income	-$892.0K	$103.0K	-$107.0K
YoY Change	-173.29%	-164.78%	-34.36%
Income Tax	-$110.0K	$23.00K	-$111.0K
% Of Pretax Income		22.33%
Net Earnings	-$782.0K	$80.00K	$4.000K
YoY Change	-185.93%	-167.23%	-83.33%
Net Earnings / Revenue	-5.32%	0.62%	0.03%
Basic Earnings Per Share	-$0.15	$0.02
Diluted Earnings Per Share	-$0.15	$0.02	$0.00
COMMON SHARES
Basic Shares Outstanding	5.256M shares	5.256M shares	5.231M shares
Diluted Shares Outstanding	5.256M shares	5.290M shares

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments	$4.730M	$3.936M	$6.726M
YoY Change	-61.93%	-73.44%	-50.15%
Cash & Equivalents	$4.727M	$3.936M	$6.726M
Short-Term Investments
Other Short-Term Assets	$1.210M	$776.0K	$706.0K
YoY Change	156.36%	75.17%	28.13%
Inventory	$4.750M	$4.991M	$3.818M
Prepaid Expenses	$1.212M	$776.0K	$706.0K
Receivables	$16.55M	$17.87M	$17.21M
Other Receivables	$570.0K	$476.0K	$477.0K
Total Short-Term Assets	$28.48M	$30.58M	$28.94M
YoY Change	-4.73%	-2.94%	4.28%
LONG-TERM ASSETS
Property, Plant & Equipment	$26.89M	$25.68M	$25.12M
YoY Change	17.38%	18.69%	14.59%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$360.0K	$243.0K	$249.0K
YoY Change	42.86%	-6.54%	-3.49%
Total Long-Term Assets	$27.24M	$25.92M	$25.37M
YoY Change	8.44%	3.42%	-0.79%
TOTAL ASSETS
Total Short-Term Assets	$28.48M	$30.58M	$28.94M
Total Long-Term Assets	$27.24M	$25.92M	$25.37M
Total Assets	$55.72M	$56.50M	$54.31M
YoY Change	1.28%	-0.13%	1.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$5.684M	$6.440M	$5.816M
YoY Change	52.3%	82.7%	180.83%
Accrued Expenses	$1.720M	$1.449M	$1.664M
YoY Change	68.63%	396.23%	153.27%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$630.0K	$636.0K	$618.0K
YoY Change	2.77%	4.78%	32.05%
Total Short-Term Liabilities	$13.01M	$13.19M	$11.22M
YoY Change	13.24%	-9.48%	-19.3%
LONG-TERM LIABILITIES
Long-Term Debt	$5.410M	$5.558M	$5.730M
YoY Change	-11.38%	-11.23%	53.87%
Other Long-Term Liabilities	$2.660M	$2.509M	$2.219M
YoY Change	-0.49%	24.02%	11.68%
Total Long-Term Liabilities	$8.070M	$8.067M	$7.949M
YoY Change	-8.07%	-2.62%	39.19%
TOTAL LIABILITIES
Total Short-Term Liabilities	$13.01M	$13.19M	$11.22M
Total Long-Term Liabilities	$8.070M	$8.067M	$7.949M
Total Liabilities	$23.26M	$23.34M	$21.26M
YoY Change	4.67%	-5.93%	-1.47%
SHAREHOLDERS EQUITY
Retained Earnings	$24.90M	$25.68M	$25.66M
YoY Change	-2.95%	3.78%	3.22%
Common Stock	$53.00K	$53.00K	$53.00K
YoY Change	0.0%	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)	$102.0K	$102.0K	$102.0K
YoY Change	0.0%	0.0%	0.0%
Treasury Stock Shares		40.92K shares	40.92K shares
Shareholders Equity	$32.46M	$33.16M	$33.06M
YoY Change
Total Liabilities & Shareholders Equity	$55.72M	$56.50M	$54.31M
YoY Change	1.28%	-0.13%	1.85%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q4
OPERATING ACTIVITIES
Net Income	-$782.0K	$80.00K	$4.000K
YoY Change	-185.93%	-167.23%	-83.33%
Depreciation, Depletion And Amortization	$590.0K	$594.0K	$754.0K
YoY Change	-15.35%	-15.5%	8.49%
Cash From Operating Activities	$2.640M	-$1.555M	-$3.001M
YoY Change	-276.94%	30.34%	-291.88%
INVESTING ACTIVITIES
Capital Expenditures	$1.810M	$1.164M	-$990.0K
YoY Change	-202.49%	493.88%	-76.18%
Acquisitions
YoY Change
Other Investing Activities	$120.0K	$82.00K	-$1.894M
YoY Change	-88.17%	110.26%	-249.49%
Cash From Investing Activities	-$1.700M	-$1.082M	-$904.0K
YoY Change	126.06%	589.17%	-68.72%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net		$153.0K
YoY Change		18.6%
Cash From Financing Activities	-160.0K	-$153.0K	-177.0K
YoY Change	7.38%	-105.72%	0.0%
NET CHANGE
Cash From Operating Activities	2.640M	-$1.555M	-3.001M
Cash From Investing Activities	-1.700M	-$1.082M	-904.0K
Cash From Financing Activities	-160.0K	-$153.0K	-177.0K
Net Change In Cash	780.0K	-$2.790M	-4.082M
YoY Change	-132.6%	-310.41%	171.59%
FREE CASH FLOW
Cash From Operating Activities	$2.640M	-$1.555M	-$3.001M
Capital Expenditures	$1.810M	$1.164M	-$990.0K
Free Cash Flow	$830.0K	-$2.719M	-$2.011M
YoY Change	202.92%	95.75%	-135.15%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000924719
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2022Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2022Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2022Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2022Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	8000000	shares
CY2022Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	40920	shares
CY2023Q1	smid	Number Of Installment NumberOfInstallment	2	integer
CY2023Q1	smid	Bank To Pruchase Equipment BankToPruchaseEquipment	5000	usd
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	1-13752
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	Smith-Midland Corporation
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	DE
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	54-1727060
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	5119 Catlett Road
CY2023Q1	dei	Entity Address Address Line2 EntityAddressAddressLine2	P.O. Box 300
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Midland
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	VA
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	22728
CY2023Q1	dei	City Area Code CityAreaCode	540
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	439-3266
CY2023Q1	dei	Security12b Title Security12bTitle	Common Stock, $0.01 par value per share
CY2023Q1	dei	Trading Symbol TradingSymbol	SMID
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	5256413	shares
CY2023Q1	us-gaap	Cash Cash	3936000	usd
CY2022Q4	us-gaap	Cash Cash	6726000	usd
CY2023Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	937000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	781000	usd
CY2022Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	16223000	usd
CY2022Q4	us-gaap	Unbilled Receivables Current UnbilledReceivablesCurrent	990000	usd
CY2022Q4	us-gaap	Inventory Raw Materials InventoryRawMaterials	1776000	usd
CY2022Q4	us-gaap	Inventory Finished Goods InventoryFinishedGoods	2042000	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	706000	usd
CY2023Q1	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	476000	usd
CY2022Q4	us-gaap	Income Taxes Receivable IncomeTaxesReceivable	477000	usd
CY2023Q1	us-gaap	Assets Current AssetsCurrent	30580000	usd
CY2022Q4	us-gaap	Assets Current AssetsCurrent	28940000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	25676000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	25124000	usd
CY2023Q1	us-gaap	Other Assets OtherAssets	243000	usd
CY2022Q4	us-gaap	Other Assets OtherAssets	249000	usd
CY2023Q1	us-gaap	Assets Assets	56499000	usd
CY2022Q4	us-gaap	Assets Assets	54313000	usd
CY2023Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	6440000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	5816000	usd
CY2023Q1	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	745000	usd
CY2022Q4	us-gaap	Accrued Liabilities And Other Liabilities AccruedLiabilitiesAndOtherLiabilities	799000	usd
CY2023Q1	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	2001000	usd
CY2022Q4	us-gaap	Deferred Revenue Current DeferredRevenueCurrent	2243000	usd
CY2023Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	640000	usd
CY2022Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	788000	usd
CY2023Q1	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	168000	usd
CY2022Q4	us-gaap	Accrued Income Taxes AccruedIncomeTaxes	146000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	64000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	77000	usd
CY2023Q1	us-gaap	Notes Payable Current NotesPayableCurrent	636000	usd
CY2022Q4	us-gaap	Notes Payable Current NotesPayableCurrent	618000	usd
CY2023Q1	us-gaap	Customer Deposits Current CustomerDepositsCurrent	2494000	usd
CY2022Q4	us-gaap	Customer Deposits Current CustomerDepositsCurrent	737000	usd
CY2023Q1	us-gaap	Liabilities Current LiabilitiesCurrent	13188000	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	11224000	usd
CY2023Q1	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	2475000	usd
CY2022Q4	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	2174000	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	34000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	45000	usd
CY2023Q1	us-gaap	Long Term Notes Payable LongTermNotesPayable	5558000	usd
CY2022Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	5730000	usd
CY2023Q1	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	2087000	usd
CY2022Q4	us-gaap	Deferred Income Tax Liabilities Net DeferredIncomeTaxLiabilitiesNet	2085000	usd
CY2023Q1	us-gaap	Liabilities Liabilities	23342000	usd
CY2022Q4	us-gaap	Liabilities Liabilities	21258000	usd
CY2023Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2023Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2023Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2022Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	usd
CY2023Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	8000000	shares
CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	5345189	shares
CY2022Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	5345189	shares
CY2023Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	5256413	shares
CY2022Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	5256413	shares
CY2023Q1	us-gaap	Common Stock Value CommonStockValue	53000	usd
CY2022Q4	us-gaap	Common Stock Value CommonStockValue	53000	usd
CY2023Q1	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	7525000	usd
CY2022Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	7440000	usd
CY2023Q1	us-gaap	Treasury Stock Shares TreasuryStockShares	40920	shares
CY2023Q1	us-gaap	Treasury Stock Value TreasuryStockValue	102000	usd
CY2022Q4	us-gaap	Treasury Stock Value TreasuryStockValue	102000	usd
CY2023Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	25681000	usd
CY2022Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	25664000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	33157000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	33055000	usd
CY2023Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	56499000	usd
CY2022Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	54313000	usd
CY2023Q1	smid	Product Sales ProductSales	8242000	usd
CY2022Q1	smid	Product Sales ProductSales	5851000	usd
CY2023Q1	smid	Barrier Rentals BarrierRentals	1120000	usd
CY2022Q1	smid	Barrier Rentals BarrierRentals	1485000	usd
CY2023Q1	smid	Royalty Income RoyaltyIncome	411000	usd
CY2022Q1	smid	Royalty Income RoyaltyIncome	427000	usd
CY2023Q1	smid	Shipping And Installation Revenue ShippingAndInstallationRevenue	3069000	usd
CY2022Q1	smid	Shipping And Installation Revenue ShippingAndInstallationRevenue	2672000	usd
CY2023Q1	us-gaap	Revenues Revenues	12842000	usd
CY2022Q1	us-gaap	Revenues Revenues	10435000	usd
CY2023Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	10676000	usd
CY2022Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	8787000	usd
CY2023Q1	us-gaap	Gross Profit GrossProfit	2166000	usd
CY2022Q1	us-gaap	Gross Profit GrossProfit	1648000	usd
CY2023Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1350000	usd
CY2022Q1	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	1159000	usd
CY2023Q1	us-gaap	Selling Expense SellingExpense	762000	usd
CY2022Q1	us-gaap	Selling Expense SellingExpense	662000	usd
CY2023Q1	us-gaap	Operating Expenses OperatingExpenses	2112000	usd
CY2022Q1	us-gaap	Operating Expenses OperatingExpenses	1821000	usd
CY2023Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	54000	usd
CY2022Q1	us-gaap	Operating Income Loss OperatingIncomeLoss	-173000	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	64000	usd
CY2022Q1	us-gaap	Interest Expense InterestExpense	48000	usd
CY2023Q1	us-gaap	Interest Income Other InterestIncomeOther	6000	usd
CY2022Q1	us-gaap	Interest Income Other InterestIncomeOther	3000	usd
CY2023Q1	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	82000	usd
CY2022Q1	us-gaap	Gains Losses On Sales Of Assets GainsLossesOnSalesOfAssets	39000	usd
CY2023Q1	us-gaap	Other Income OtherIncome	25000	usd
CY2022Q1	us-gaap	Other Income OtherIncome	20000	usd
CY2023Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	49000	usd
CY2022Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	14000	usd
CY2023Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	103000	usd
CY2022Q1	us-gaap	Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest	-159000	usd
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	23000	usd
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	-40000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	80000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-119000	usd
CY2023Q1	smid	Earnings Per Share Basics And Diluted EarningsPerShareBasicsAndDiluted	0.02
CY2022Q1	smid	Earnings Per Share Basics And Diluted EarningsPerShareBasicsAndDiluted	-0.02
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5256000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5230000	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5290000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5230000	shares
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	33055000	usd
CY2023Q1	smid	Restricted Stock Issued RestrictedStockIssued	0	usd
CY2023Q1	smid	Vesting Of Restricted Stock VestingOfRestrictedStock	85000	usd
CY2022Q1	smid	Adoption Of Asu AdoptionOfASU	-63000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	80000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	33157000	usd
CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	31157000	usd
CY2022Q1	smid	Restricted Stock Issued RestrictedStockIssued	0	usd
CY2022Q1	smid	Vesting Of Restricted Stock VestingOfRestrictedStock	126000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-119000	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	31757000	usd
CY2023Q1	us-gaap	Profit Loss ProfitLoss	-80000	usd
CY2022Q1	us-gaap	Profit Loss ProfitLoss	119000	usd
CY2023Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	594000	usd
CY2022Q1	us-gaap	Depreciation And Amortization DepreciationAndAmortization	703000	usd
CY2023Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	82000	usd
CY2022Q1	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	39000	usd
CY2023Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	92000	usd
CY2022Q1	us-gaap	Provision For Doubtful Accounts ProvisionForDoubtfulAccounts	30000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	85000	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	126000	usd
CY2023Q1	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	1000	usd
CY2022Q1	us-gaap	Deferred Income Taxes And Tax Credits DeferredIncomeTaxesAndTaxCredits	5000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1800000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	2064000	usd
CY2023Q1	us-gaap	Increase Decrease In Unbilled Receivables IncreaseDecreaseInUnbilledReceivables	1544000	usd
CY2022Q1	us-gaap	Increase Decrease In Unbilled Receivables IncreaseDecreaseInUnbilledReceivables	24000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	1173000	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	480000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	70000	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-90000	usd
CY2023Q1	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	-2000	usd
CY2022Q1	us-gaap	Increase Decrease In Income Taxes Receivable IncreaseDecreaseInIncomeTaxesReceivable	0	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	624000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable Trade IncreaseDecreaseInAccountsPayableTrade	1454000	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-54000	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Liabilities And Other Operating Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities	-365000	usd
CY2023Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	59000	usd
CY2022Q1	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	-11000	usd
CY2023Q1	us-gaap	Increase Decrease In Deferred Compensation IncreaseDecreaseInDeferredCompensation	-148000	usd
CY2022Q1	us-gaap	Increase Decrease In Deferred Compensation IncreaseDecreaseInDeferredCompensation	-129000	usd
CY2023Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	22000	usd
CY2022Q1	us-gaap	Increase Decrease In Accrued Income Taxes Payable IncreaseDecreaseInAccruedIncomeTaxesPayable	-43000	usd
CY2023Q1	smid	Increase Decrease In Deferred Lease Obligation IncreaseDecreaseInDeferredLeaseObligation	0	usd
CY2022Q1	smid	Increase Decrease In Deferred Lease Obligation IncreaseDecreaseInDeferredLeaseObligation	-314000	usd
CY2023Q1	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	1757000	usd
CY2022Q1	us-gaap	Increase Decrease In Customer Deposits IncreaseDecreaseInCustomerDeposits	-13000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1555000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-1193000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1164000	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	196000	usd
CY2023Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	82000	usd
CY2022Q1	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	39000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-1082000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-157000	usd
CY2023Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	0	usd
CY2022Q1	us-gaap	Proceeds From Issuance Of Long Term Debt ProceedsFromIssuanceOfLongTermDebt	2805000	usd
CY2023Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	153000	usd
CY2022Q1	us-gaap	Repayments Of Long Term Debt RepaymentsOfLongTermDebt	129000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-153000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	2676000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	-2790000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect	1326000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6726000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	13492000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	3936000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	14818000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	64000	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	48000	usd
CY2023Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	usd
CY2022Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	0	usd
CY2023Q1	us-gaap	Use Of Estimates UseOfEstimates	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2023Q1	smid	Cumulative Effect Of Adoption Of Asu201613 CumulativeEffectOfAdoptionOfAsu201613	63	usd
CY2023Q1	us-gaap	Premiums Percentage Assumed To Net PremiumsPercentageAssumedToNet	0.10	pure
CY2023Q1	us-gaap	Other Receivables OtherReceivables	921000	usd
CY2022Q4	us-gaap	Other Receivables OtherReceivables	932000	usd
CY2023Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	937000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	781000	usd
CY2023Q1	smid	Change In Allowance Beginning Balance ChangeInAllowanceBeginningBalance	781	usd
CY2023Q1	smid	Cumulative Effect Of Adoption CumulativeEffectOfAdoption	64	usd
CY2023Q1	us-gaap	Provision For Other Credit Losses ProvisionForOtherCreditLosses	92	usd
CY2023Q1	smid	Change In Allowance Ending Balance ChangeInAllowanceEndingBalance	937	usd
CY2023Q1	smid	Description Of Royalty Income DescriptionOfRoyaltyIncome	The agreements are typically for five-year terms and require royalty payments from 4% to 6% of total sales of licensed products, which are paid every month
CY2023Q1	smid	Revenue Revenue	12842000	usd
CY2022Q1	smid	Revenue Revenue	10435000	usd
CY2023Q1	smid	Increase Decrease In Revenue IncreaseDecreaseInRevenue	2407000	usd
CY2023Q1	smid	Percent Of Change In Revenue PercentOfChangeInRevenue	0.23	pure
CY2023Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:left;">Historically, various customers have comprised greater than 10% of revenue during a given quarter or year. These customers are typically not the same quarter to quarter or year to year. The Company views revenue details by jobs, and not by customers. In the event a customer were to go out of business during a project, it is likely that the owner of the project would assign a new contractor to the job, and the Company would complete its scope of work. Therefore, the Company believes that it does not have a short-term vulnerability of severe impact to operations. In cases where customers are less than 10% of revenue, the Company assesses if there is a near term severe impact. The Company has determined that no customer, if lost, would result in a near term severe impact to the Company’s operations.</p>
CY2023Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	80000	usd
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Basic NetIncomeLossAvailableToCommonStockholdersBasic	-119000	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5256000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	5230000	shares
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	0.02
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.02
CY2023Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	80000	usd
CY2022Q1	us-gaap	Net Income Loss Available To Common Stockholders Diluted NetIncomeLossAvailableToCommonStockholdersDiluted	-119000	usd
CY2023Q1	smid	Weighted Average Number Of Shares Outstanding WeightedAverageNumberOfSharesOutstanding	5256000	shares
CY2022Q1	smid	Weighted Average Number Of Shares Outstanding WeightedAverageNumberOfSharesOutstanding	5230000	shares
CY2023Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	34000	shares
CY2022Q1	us-gaap	Weighted Average Number Diluted Shares Outstanding Adjustment WeightedAverageNumberDilutedSharesOutstandingAdjustment	0	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5290000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	5230000	shares
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	0.02
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.02
CY2020Q1	smid	Refinancingof Existing Loans Note Ppayable RefinancingofExistingLoansNotePpayable	2701	usd
CY2020Q1	smid	Funds For Improvement FundsForImprovement	678	usd
CY2020Q1	us-gaap	Debt Instrument Interest Rate Stated Percentage DebtInstrumentInterestRateStatedPercentage	0.0399	pure
CY2020Q1	us-gaap	Debt Instrument Periodic Payment Principal DebtInstrumentPeriodicPaymentPrincipal	27	usd
CY2020Q1	us-gaap	Debt Instrument Maturity Date DebtInstrumentMaturityDate	2030-03-27
CY2023Q1	us-gaap	Notes Payable NotesPayable	1978	usd
CY2022Q1	us-gaap	Notes Payable To Bank NotesPayableToBank	2805	usd
CY2022Q1	smid	Note Payabe Interest Rate Percentage NotePayabeInterestRatePercentage	0.0409	pure
CY2023Q1	us-gaap	Debt Instrument Periodic Payment Principal DebtInstrumentPeriodicPaymentPrincipal	21	usd
CY2022Q1	us-gaap	Line Of Credit Facility Expiration Date1 LineOfCreditFacilityExpirationDate1	2037-02-10
CY2022Q1	us-gaap	Notes Payable NotesPayable	2632	usd
CY2023Q1	smid	Varying Loan Balance Amount VaryingLoanBalanceAmount	45	usd
CY2023Q1	smid	Tangible Assets Net Worth TangibleAssetsNetWorth	10000	usd
CY2023Q1	us-gaap	Line Of Credit LineOfCredit	5000	usd
CY2023Q1	us-gaap	Line Of Credit Facility Expiration Date1 LineOfCreditFacilityExpirationDate1	2023-10-01
CY2023Q1	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	5000	usd
CY2023Q1	smid	Payment To Equipment PaymentToEquipment	1500	usd
CY2023Q1	smid	Commitment For Purchase Of Equipment For Note Payable Description CommitmentForPurchaseOfEquipmentForNotePayableDescription	The commitment provides for the purchase of equipment for which a note payable will be executed with a term not to exceed five years with an interest rate at the Wall Street Journal prime rate plus 0.50% with a floor of 3.50% per annum
CY2023Q1	smid	Payments For Equipment PaymentsForEquipment	1500	usd
CY2023Q1	smid	Share Based Compensation1 ShareBasedCompensation1	85000	usd
CY2022Q1	smid	Share Based Compensation1 ShareBasedCompensation1	126000	usd
CY2023Q1	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	230000	usd
CY2022Q2	smid	Buy Back Agreement BuyBackAgreement	210000	usd
CY2022Q2	smid	Additional Linear Feet AdditionalLinearFeet	115000	usd
CY2022Q2	smid	Purchase Price PurchasePrice	5000	usd
CY2022Q2	smid	Deferred Buy Back Obligation DeferredBuyBackObligation	5000	usd
CY2022Q2	smid	Deferred Buy Back Lease Asset DeferredBuyBackLeaseAsset	210000	usd

Files In Submission

Name	View Source	Status
0001654954-23-006593-index-headers.html	Edgar Link	pending
0001654954-23-006593-index.html	Edgar Link	pending
0001654954-23-006593.txt	Edgar Link	pending
0001654954-23-006593-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
smid-20230331_cal.xml	Edgar Link	unprocessable
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
smid-20230331.xsd	Edgar Link	pending
smid_10q.htm	Edgar Link	pending
smid_ex311.htm	Edgar Link	pending
smid_ex312.htm	Edgar Link	pending
smid_ex321.htm	Edgar Link	pending
smid-20230331_def.xml	Edgar Link	unprocessable
smid-20230331_lab.xml	Edgar Link	unprocessable
smid-20230331_pre.xml	Edgar Link	unprocessable
smid_10q_htm.xml	Edgar Link	completed

Create your account

Find Stocks Worth Researching

Deeply Understand Businesses

Value Businesses Intelligently

$SMID
SMITH MIDLAND CORP Stock $smid

2023 Q2 Form 10-Q Financial Statement

#000165495423006593 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMID SMITH MIDLAND CORP Stock $smid

2023 Q2 Form 10-Q Financial Statement

#000165495423006593 Filed on May 15, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$SMID
SMITH MIDLAND CORP Stock $smid