SMITH MIDLAND CORPSMIDEarnings & Financial Report
Smith Midland Corp is a specialized manufacturer of precast concrete products for infrastructure, commercial, residential and industrial construction uses. Its key product lines include highway safety barriers, acoustic sound walls, architectural precast panels, and stormwater management systems, serving primarily the North American market with durable, sustainable construction solutions.
SMID Q4 2025 Key Financial Metrics
Revenue
$23.1M
Gross Profit
$13.3M
Operating Profit
$8.7M
Net Profit
$2.1M
Gross Margin
57.5%
Operating Margin
37.8%
Net Margin
9.2%
YoY Growth
24.7%
EPS
$0.41
Financial Flow
SMITH MIDLAND CORP Q4 2025 Financial Summary
SMITH MIDLAND CORP reported revenue of $23.1M (up 24.7% YoY) for Q4 2025, with a net profit of $2.1M (up 52.5% YoY) (9.2% margin). Cost of goods sold was $9.8M, operating expenses totaled $4.5M.
Key Financial Metrics
| Total Revenue | $23.1M |
|---|---|
| Net Profit | $2.1M |
| Gross Margin | 57.5% |
| Operating Margin | 37.8% |
| Report Period | Q4 2025 |
Revenue Breakdown
SMITH MIDLAND CORP Q4 2025 revenue of $23.1M breaks down across 2 segments, led by Product Sales at $13.8M (59.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Product Sales | $13.8M | 59.8% |
| Service Revenue | $9.3M | 40.2% |
SMITH MIDLAND CORP Revenue by Segment — Quarterly Trend
SMITH MIDLAND CORP revenue by segment across the last 4 reported quarters, showing how each business line (such as Product Sales and Service Revenue) has evolved quarter over quarter.
| Segment | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 |
|---|---|---|---|---|
| Product Sales | $13.8M | $11.9M | — | $9.1M |
| Service Revenue | $9.3M | $9.5M | $12.8M | $13.6M |
SMITH MIDLAND CORP Annual Revenue by Year
SMITH MIDLAND CORP annual revenue history includes year-by-year totals (for example, 2025 revenue was $93.4M). Click any linked year to see what changed vs the prior annual report.
SMITH MIDLAND CORP Quarterly Revenue & Net Profit History
SMITH MIDLAND CORP results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 2025 | $23.1M | +24.7% | $2.1M | 9.2% |
| Q3 2025 | $21.5M | -9.0% | $2.9M | 13.4% |
| Q2 2025 | $26.2M | +33.3% | $4.2M | 15.9% |
| Q1 2025 | $22.7M | +35.5% | $3.3M | 14.7% |
| Q4 2024 | $18.5M | +13.1% | $1.4M | 7.5% |
| Q3 2024 | $23.6M | +50.7% | $3.1M | 13.4% |
| Q2 2024 | $19.6M | +33.6% | $2.0M | 10.1% |
| Q1 2024 | $16.8M | +30.5% | $1.1M | 6.8% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.8M | $19.6M | $23.6M | $18.5M | $22.7M | $26.2M | $21.5M | $23.1M |
| YoY Growth | 30.5% | 33.6% | 50.7% | 13.1% | 35.5% | 33.3% | -9.0% | 24.7% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $64.9M | $64.0M | $66.6M | $68.0M | $74.7M | $81176 | $85.4M | $87.7M |
| Liabilities | $29.5M | $26.9M | $26.3M | $26.3M | $29.6M | $31931 | $33.3M | $33.4M |
| Equity | $35.3M | $37.2M | $40.3M | $41.7M | $45.1M | $49.2M | $52.1M | $54.3M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|
| Operating CF | $-777000 | $2.7M | $3.9M | $-645000 | $2.2M | $11.7M |