Quarterly ResultMay 14, 2026, 09:01 AM
Where Food Comes From Q1 Revenue $5.4M, Net Income $92K; Buys Back Shares
AI Summary
Where Food Comes From, Inc. announced its first quarter 2026 financial results, reporting a total revenue increase to $5.4 million from $5.3 million year-over-year. The company returned to profitability with net income rising to $92,000, or $0.02 per diluted share, up from $31,000, or $0.01 per diluted share in the prior year. CEO John Saunders expressed satisfaction with the revenue growth and return to profitability, highlighting new customer additions for beef-related services and the expansion of the RaiseWell™ Certified program. Additionally, the company repurchased 24,469 shares of its common stock for $293,000 during the quarter.
Key Highlights
- Total revenue increased to $5.4 million from $5.3 million year-over-year.
- Net income rose to $92,000 ($0.02 EPS) from $31,000 ($0.01 EPS) year-over-year.
- Verification and certification revenue grew to $4.4 million from $4.2 million.
- Product sales increased to $713,000 from $702,000.
- Company bought back 24,469 shares for $293,000 in Q1.
- Gross margins were 39%, down from 42% year-over-year.
- Selling, general and administrative expenses decreased 15% to $1.7 million.