---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-012805"
form_type: "8-K"
ticker: "SMID"
cik: "0000924719"
company_name: "SMITH MIDLAND CORP"
filed_at: "2023-10-11T23:59:59+00:00"
generated_at: "2026-06-10T01:56:39.883152+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Smith-Midland Q2 revenue up 11% to $14.7M but net loss of $782K due to panel rework and wire fraud

## Summary
- Revenue $14.7M (+11% YoY); product sales $10.7M (+58% YoY) driven by Soundwall and SlenderWall.
- Net loss of $782K ($0.15 loss per share) vs net income of $910K ($0.17 EPS) in Q2 2022.
- Gross margin fell to 12.2% from 24.4% due to $400K cost for remaking architectural panels and lower-margin product mix.
- Cybersecurity incident caused $342K wire fraud loss; $67K recovered from insurance; further recovery expected.
- Record backlog of $60.9M as of Aug 1, 2023, with preliminary Q3 2023 revenue growth exceeding 20% YoY.

## SEC filing metadata
- accession: 0001654954-23-012805
- form_type: 8-K
- ticker: SMID
- cik: 0000924719
- company_name: SMITH MIDLAND CORP
- filed_at: 2023-10-11T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/924719/000165495423012805/0001654954-23-012805-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/924719/000165495423012805/smid_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-012805
- JSON: https://secwatch.observer/filing/0001654954-23-012805.json
- Plain text: https://secwatch.observer/filing/0001654954-23-012805.txt

## Key facts
- Earnings Releases
  SMITH MIDLAND CORP reported the second quarter of 2023 results: revenue $14.7 million, net income loss per share of $0.15, EPS $0.15.
  - Period: the second quarter of 2023
  - Revenue: $14.7 million
  - Net income: loss per share of $0.15
  - EPS: $0.15
  - Result: reported results
  source text: Financial Officer 3 --- EX-99.1 (EX-99.1) --- smid_ex991.htm EXHIBIT 99.1 Smith-Midland Reports Second Quarter 2023 Financial Results Revenue Increased 11% from Prior Year to $14.7 Million; Record Backlog of $60.9 Million Announces Preliminary Third Quarter Year-over-Year Revenue Growth in Excess of 20% MIDLAND, VA – October 11, 2023 – Smith-Midland Corporation
  evidence_url: https://www.sec.gov/Archives/edgar/data/924719/000165495423012805/0001654954-23-012805-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.