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GlobeNewswire·

Where Food Comes From, Inc. Reports 2025 Financial Results

  • Where Food Comes From, Inc. reported full-year 2025 total revenue of $24.9M, a decrease from $25.7M in 2024.
  • Verification & certification revenue fell to $20.1M in 2025 from $20.6M in 2024, while product sales dropped to $3.6M from $3.8M.
  • Full-year net income for 2025 was $1.5M ($0.30 diluted EPS) compared to $2.1M ($0.40 diluted EPS) in 2024.
  • The company generated $1.6M in operating cash flow in 2025, down from $2.7M in 2024, with cash equivalents rising to $3.2M.
  • In Q4 2025, total revenue decreased to $6.0M from $6.7M in Q4 2024, resulting in a net loss of $0.2M ($0.04 diluted EPS) versus $1.0M net income.
  • CEO John Saunders attributed revenue declines to high beef prices & smaller herd sizes impacting legacy beef customers.
  • Non-beef certification demand in non-GMO, Gluten Free, Organic & Upcycled categories offset some beef-related revenue losses.
  • The company launched the RaiseWell® Certified standard for responsibly raised proteins & secured Whole Foods Market as its first adopter.
  • New collaborations include a partnership with Pangea, Prime Pursuits & Walmart to introduce CARE Certified sustainable leather to automotive brands.
  • The company repurchased 183,016 shares in 2025, bringing total buybacks since inception to 1,374,652 shares at a cost of ~$15.2M.
  • In Q4 2025, the company bought back 66,469 shares of common stock.
  • Gross profit declined to $9.5M for the full year 2025 from $10.6M in 2024, while SG&A expenses remained relatively flat at $8.3M.
  • The company expects the US cattle supply trend to stabilize later in 2026 & begin a rebound in 2027.