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GlobeNewswire·

Where Food Comes From, Inc. Reports Second Quarter Financial Results

WFCF
  • Where Food Comes From, Inc. reported second quarter 2026 total revenue of $6,611,000, a 1% increase from $6,562,000 in the same period in 2025.
  • Verification & certification revenue rose to $5,389,000 while product sales declined to $937,000.
  • Gross profit increased 9% to $2,683,000, driven by cost efficiencies that improved gross margins to 40.6% from 37.5% year-over-year.
  • Operating income grew 21% to $665,000, up from $549,000 in the prior year quarter.
  • Net income for the quarter was $413,000 ($0.08 per diluted share), down from $562,000 ($0.11 per share), primarily due to a $240,000 non-cash negative swing in digital asset fair market value.
  • The company returned $809,000 to shareholders via the buyback of 65,012 shares during the second quarter.
  • Six-month 2026 total revenue reached $11,976,000, a slight increase from $11,835,000 in 2025.
  • Six-month operating income increased 39% to $963,000, supported by reduced SG&A expenses following a 2025 bonus deferral.
  • Six-month net income was $505,000 ($0.10 per share), compared to $593,000 ($0.11 per share), impacted by a $299,000 non-cash loss on digital assets.
  • Cash generated from operations for the first half was $1.5 million, down from $1.8 million in the comparable 2025 period.
  • Cash and cash equivalents increased 7% year-over-year to $3,417,000 as of June 30, 2026.
  • Total shares bought back in the first half of 2026 were 89,481, contributing to over $17.2 million in shareholder value returned over the past seven years.
  • The RaiseWell® Certified program enrolled more than 270,000 head of cattle, with adoption by Whole Foods Market for beef supply verification.
  • Professional services revenue for the six-month period decreased to $513,000 from $655,000 in 2025.