WFCF
Where Food Comes From, Inc.11.93
-0.90-7.01%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
No Q&A; remarks unprobed.
No Q&A surfaced, leaving management's prepared remarks on $24.9 million revenue and $1.5 million net income unchallenged by analysts. Beef headwinds from herd shrinkage and a key plant closure persist, offset by non-beef growth, with executives returning bonuses for a Q1 comp expense cut. Initiatives like RaiseWell Certified with Whole Foods and U.S. CattleTrace got no probing. Analysts stayed silent. Optimism holds for cattle cycle recovery and buybacks; watch diversification durability.
Key Stats
Market Cap
61.66MP/E (TTM)
22.94Basic EPS (TTM)
0.52Dividend Yield
0%Recent Filings
8-K
2025 revenue dips to $24.9M
Where Food Comes From reported 2025 revenue down 3% to $24.9M from $25.7M, with net income falling to $1.5M or $0.30/share versus $2.1M or $0.40/share, hit by beef verification declines amid record prices and low herd sizes. Non-beef certifications like Organic and CARE grew, offsetting losses; Q4 swung to a $0.2M net loss. Repurchased 183k shares. New RaiseWell standard won Whole Foods endorsement.
10-K
FY2025 results
Where Food Comes From posted FY2025 revenue of $24.9M, off 3.3% y/y, with verification and certification at 80.8% of total dipping 2.2% amid cattle cycle contraction and tight supply; Q4 verification plunged 6.5% y/y as record cattle prices eroded verification incentives for packers. Gross margins slipped to 38.8% from 41.9%, squeezed by tag cost inflation and fixed labor over lower volumes, yet operating income held at $1.2M. Q4 buybacks tallied 66K shares for $813K. Cash swelled to $3.2M on $1.6M operating cash flow. Tight cattle supplies threaten quarterly audit volume.
8-K
Q3 revenue flat, profits soar
Where Food Comes From reported Q3 revenue dipping to $7.0M from $7.1M amid tariffs and herd reductions hitting beef verification, yet verification services edged up to $5.6M on pork, dairy, and egg growth. Net income doubled to $1.1M ($0.22/share) thanks to a $946K gain from selling its Progressive Beef stake. Cash hit $4.8M; repurchased 60,721 shares. Resilient margins shine.
10-Q
Q3 FY2025 results
Where Food Comes From posted Q3 revenues of $7.0M, off 1.3% y/y yet holding steady amid cattle cycle contraction, with verification services up 1.2% y/y to $5.6M on new bundling while products dipped 9.6%. Operating income slipped to $575K from $608K, gross margin tightened to 39.7% from 40.1% on higher service costs, but net income leaped to $1.1M or $0.22/share (confirmed vs 5,297K diluted shares) thanks to $946K gain on Progressive Beef exit for $1.8M cash plus stock surrender. Cash swelled to $4.8M, OCF $2.3M YTD; no debt after letting LOC lapse. Repurchased $718K shares. Cattle cycle contraction lingers.
8-K
Q2 revenue up 3%, stake sale boosts cash
Where Food Comes From reported Q2 2025 revenue of $6.6M, up 3% from $6.4M last year, driven by stronger verification services in CARE Certified and UpCycled programs plus 18% higher hardware sales, offsetting beef verification headwinds from smaller herds. Net income rose 15% to $562,000 or $0.11 per share, aided by a $172,000 digital assets gain, while gross margins dipped from elevated labor and hardware costs. On July 22, the company sold its 10% stake in Progressive Beef for $1.8M cash and 12,585 returned shares, booking an $800,000 gain and bolstering its $3.2M cash position for growth and buybacks—55,826 shares repurchased year-to-date. Retail expansions to over 110 stores by year-end signal rising consumer demand for verified sustainable beef.
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