Smith-Midland Corporation
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.4M | $1.3M | — | $2.9M | $-3.3M | $3.3M | — | $3.2M |
| Depreciation & Amortization | $1.0M | $951.0K | $972.0K | $1.9M | $-669.7K | $671.0K | $668.0K | $2.0M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $0 | $15.0K | $55.0K | — | $-4.0K | $4.0K | $15.0K | — |
| Net Cash from Operating Activities | $-485.0K | $3.1M | $2.6M | $11.7M | $-2.2M | $2.2M | $-645.0K | $5.8M |
| Investing Activities | ||||||||
| Capital Expenditures | $1.9M | $1.6M | $4.0M | $5.4M | $-592.5K | $595.0K | $660.0K | $5.5M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-1.9M | $-1.6M | $-3.9M | $-5.4M | $592.5K | $-595.0K | $-632.0K | $-5.5M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-145.0K | $-166.0K | $-143.0K | $-503.7K | $163.7K | $-164.0K | $-188.0K | $-446.7K |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $-2.4M | $1.5M | $-1.4M | $6.3M | $-1.6M | $1.6M | $-1.3M | $261.6K |