Core Points - Where Food Comes From, Inc. (WFCF) will release its 2024 full year financial results on February 20, 2025, before market opens and will hold a conference call at 10:00 a.m. Mountain Time [1] - The company is recognized as a trusted resource for independent, third-party verification of food production practices in North America [1][2] - WFCF supports over 17,500 entities including farmers, ranchers, vineyards, wineries, processors, retailers, distributors, trade associations, consumer brands, and restaurants through various value-added services [2] Company Overview - Where Food Comes From, Inc. utilizes proprietary technology and patented business processes to verify food claims, optimize production practices, and enhance food supply chains with analytics and data-driven insights [2] - The company's units include IMI Global, Validus Verification Services, SureHarvest, WFCF Organic, and Postelsia, which collectively provide a range of verification and optimization services [2] - WFCF's retail and restaurant labeling program connects consumers to the sources of their food purchases, fostering meaningful consumer engagement for clients [2]

17% YOY increase in Upcycled Certifications in 2024Number of Participating Companies Grows to 105, Including Del Monte, Kerry and Hershey-Backed Blue Stripes1.2 Million Tons of Diverted Food Waste in US in 2024 — Equivalent of 248 Million Bags of Groceries CASTLE ROCK, Colo., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Where Food Comes From, Inc. (WFCF) (Nasdaq: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today reported accelerating growth ...

Shares of Where Food Comes From, Inc. (WFCF) have declined 0.52% since the company reported its earnings for the third-quarter ended Sept. 2024. This compares to the S&P 500 index’s 0.03% decline over the same time frame. Over the past month, the stock has lost 2.5% versus the S&P 500’s 3.3% decline.Q3 Earnings & Revenue PerformanceThe company reported third-quarter 2024 diluted earnings per share of 9 cents, down 30.8% from 13 cents in the year-ago quarter.For the quarter ended Sept. 30, 2024, WFCF reporte ...

Revenue Performance - Verification and certification revenue increased by 9% to $15.2 million from $13.9 million[1] - Product sales decreased by 8% to $2.9 million from $3.1 million[1] - Total revenue rose by 4% to $19.1 million from $18.4 million[1] Net Income and Earnings - Net income fell by 16% to $1.2 million from $1.4 million, with diluted EPS of $0.21 compared to $0.24[1] - Net income for the three months ended September 30, 2024, was $492,000, a decrease of 31.9% compared to $723,000 for the same period in 2023[14] EBITDA - Adjusted EBITDA decreased by 15% to $2.1 million from $2.5 million[8] - Adjusted EBITDA for the nine months ended September 30, 2024, was $2,106,000, down 15.2% from $2,485,000 for the same period in 2023[14] Cash Flow and Operations - Cash generated from operations increased by 6% to $2.8 million from $2.6 million[8] - Cash and cash equivalents increased to $2,757,000 as of September 30, 2024, compared to $2,641,000 at December 31, 2023, showing a growth of 4.4%[18] Shareholder Actions - The company repurchased a total of 216,039 shares in 2024[9] Expenses - Selling, general and administrative expenses rose by 10% to $6.3 million from $5.7 million[7] - The company reported a depreciation and amortization expense of $156,000 for the three months ended September 30, 2024, compared to $153,000 for the same period in 2023[14] Assets and Liabilities - Total current assets increased to $7,389,000 as of September 30, 2024, compared to $6,213,000 at December 31, 2023, reflecting a growth of 18.9%[18] - Total liabilities rose to $7,492,000 as of September 30, 2024, up 37.0% from $5,467,000 at December 31, 2023[18] - Accounts payable increased significantly to $873,000 as of September 30, 2024, compared to $567,000 at December 31, 2023, an increase of 54.0%[18] Equity and Retained Earnings - Retained earnings increased to $10,900,000 as of September 30, 2024, compared to $9,741,000 at December 31, 2023, reflecting a growth of 11.9%[18] - Total equity decreased to $9,454,000 as of September 30, 2024, down from $10,819,000 at December 31, 2023, a decline of 12.6%[18] Future Outlook - The company anticipates growth in cattle enrollment due to new USDA electronic tag requirements[3] Deferred Revenue - Deferred revenue increased to $2,146,000 as of September 30, 2024, compared to $1,485,000 at December 31, 2023, an increase of 44.4%[18]

Financial Data and Key Metrics Changes - Total revenue in Q3 2024 increased slightly to $7.1 million from $7 million, with a 2% increase in verification and certification services to $5.5 million from $5.4 million year-over-year [4] - Gross profit in Q3 declined slightly to $2.8 million from $2.9 million, while SG&A expenses increased 13% year-over-year to $2.2 million from $1.9 million [4] - Net income in Q3 decreased 32% to $0.5 million or $0.09 per diluted share compared to $0.7 million or $0.13 per diluted share last year [4] - Adjusted EBITDA in Q3 was 29% lower at $0.8 million versus $1.2 million [4] Business Line Data and Key Metrics Changes - Verification and certification services revenue increased 9% to $15.2 million from $13.9 million year-over-year, while product revenue decreased 8% to $2.9 million from $3.1 million [5] - Professional services revenue declined to $0.3 million from $0.4 million year-over-year [4] Market Data and Key Metrics Changes - The company reported a solid balance sheet with no long-term debt and cash and cash equivalents increased 4% to $2.8 million from $2.6 million at the end of 2023 [5] - Cash generated from operations through nine months increased 6% to $2.8 million compared to $2.6 million in the same period last year [5] Company Strategy and Development Direction - The company is focusing on diversifying its services mix to compensate for the temporary slowdown in beef-related revenue due to persistent headwinds in the beef verification business [6] - Recent USDA regulations, including the animal disease traceability program, are expected to positively impact the company by increasing the addressable market for RFID tags and related services [8][9] - The strengthening organic enforcement rule is anticipated to enhance the company's organic business by increasing compliance requirements, which the company is well-positioned to address with its SOW Organic technology platform [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential growth phase in the beef business due to the transition to electronic RFID tags, estimating an additional 10 million cattle will be tagged over the next year [8] - The company is confident in its ability to remain at the forefront of the industry, leveraging its innovative solutions to benefit agricultural producers and consumers [10] Other Important Information - The company continued its share buyback program, repurchasing 66,620 shares at a cost of $734,000 in Q3 [4] - Through the first nine months of 2024, the company bought back a total of 216,039 shares, including 135,838 shares as part of the ongoing buyback program [5] Q&A Session Summary - No specific questions or answers were documented in the provided content, as the call concluded with a thank you from management and an invitation to the next quarterly call [11][12]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended September 30, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to _____________ Commission File No. 001-40314 WHERE FOOD COMES FROM, INC. (exact name of registrant as specified in its charter) | --- | |---------------------------- ...

Third Quarter Highlights – 2024 vs. 2023 Verification and certification revenue up 2% to $5.5 million from $5.4 millionProduct sales up 9% to $1.3 million from $1.2 millionTotal revenue up 1% to $7.1 million from $7.0 millionNet income down 32% to $492,000 from $723,000Diluted EPS of $0.09 vs. $0.13Adjusted EBITDA of $0.8 million vs. $1.2 millionCompany buys back 66,620 shares of stock in third quarter Nine Month Highlights – 2024 vs. 2023 Verification and certification revenue up 9% to $15.2 million from $ ...

CASTLE ROCK, Colo., Nov. 08, 2024 (GLOBE NEWSWIRE) -- Where Food Comes From, Inc. (WFCF) (Nasdaq: WFCF), the most trusted resource for independent, third-party verification of food production practices in North America, today announced it will release its 2024 third quarter financial results before the market opens on Tuesday November 12, 2024, and conduct a conference call the same day at 10:00 a.m. Mountain Time (12:00 p.m. Eastern). Dial-in numbers for the conference call: Domestic Toll Free: 1-877-407- ...

Exhibit 99.1 Where Food Comes From, Inc. Reports 2024 Second Quarter and Six-Month Financial Results Second Quarter Highlights – 2024 vs. 2023 Six Month Highlights – 2024 vs. 2023 ● Verification and certification revenue up 13% to $9.7 million from $8.6 million ● Product sales decline 19% to $1.6 million from $1.9 million ● Total revenue up 5% to $12.0 million from $11.4 million ● Net income increases 2% to $667,000 from $653,000 ● Diluted EPS of $0.12 vs. $0.11 ● Adjusted EBITDA essentially flat at $1.3 mi ...

Where Food Comes From, Inc. (NASDAQ:WFCF) Q2 2024 Earnings Call August 8, 2024 12:00 PM ET Company Participants Jay Pfeiffer - Investor Relations John Saunders - Chief Executive Officer Leann Saunders - President Dannette Henning - Chief Financial Officer Conference Call Participants Chris Brown - Oake Financial Operator Greetings, and welcome to the Where Food Comes From, Second Quarter Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introdu ...