SMID — what changed in the latest 10-Q
A section-by-section comparison of SMID's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-14 vs the prior 10-Q · 2026-06-10
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +24 | −22 | ~28 | 20 |
| Controls & procedures | Text added/removed | 0 | 0 | ~5 | 12 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3), Risk factors, Other information
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-14
Overall, the Company’s financial top and bottom line performance was lower for the first six months of 2026 when compared to the first six months of 2025. The Company had net income for the three and six months ended June 30, 2026 of $1,381 and $2,720 compared to net income of $4,171 and $7,498 for …
Cost of sales as a percentage of revenue, not including royalties, increased to 80% for the three months ended June 30, 2026 compared to 74% for the three months ended June 30, 2025. Cost of sales as a percentage of revenue, not including royalties, increased to 82% for the six months ended June 30,…
Operating income was $1,985 for the three month period ended June 30, 2026, as compared to an operating income of $5,518 for the three month period ended June 30, 2025. Operating income was $3,713 for the six month period ended June 30, 2026, as compared to $9,905 for the six month period ended June…
Income tax expense for the three month period ended June 30, 2026 was $434, or an effective tax rate of 24%, as compared to an income tax expense of $1,311, or an effective tax rate of 24% for the three month period ended June 30, 2025. Income tax expense for the six month period ended June 30, 2026…
Barrier Sales - Barrier sales increased significantly for the three and six month periods ended June 30, 2026, compared to the same periods in 2025. The increase is based on higher market demand as the MASH barrier standard is adopted in the markets we serve, which is expected to result in the repla…
Text removed vs the prior filing · source: 10-Q · 2026-06-10
potential decreases in our contract backlog; in this respect, the Company’s backlog at May 11, 2026 was approximately $48.1 million as compared to $52.4 million at around the same time a year ago,
Overall, the Company’s financial performance for the first quarter of 2026 decreased compared to the first quarter of 2025. The Company reported net income of $1,339 for the three months ended March 31, 2026, compared to net income of $3,327 for the three months ended March 31, 2025. Total revenue d…
Cost of sales as a percentage of revenue, excluding royalties, increased to 83% for the three months ended March 31, 2026 compared to 72% for the three months ended March 31, 2025. The increase was primarily due to the significant reduction in special project barrier rental revenue during the quarte…
Operating income was $1,728 for the three month period ended March 31, 2026, as compared to $4,387 for the three month period ended March 31, 2025. Operating expenses for the first quarter of 2026 were $2,575 compared to $2,588 for the first quarter of 2025. The slight decrease was primarily attribu…
Income tax expense for the three month period ended March 31, 2026 was $422, or an effective tax rate of 24%, as compared to $1,020, or an effective tax rate of 24% for the three month period ended March 31, 2025.
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice