secwatch.observer — SEC 8-K summary
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Issuer:     Where Food Comes From, Inc. (WFCF)
CIK:        0001360565
Form:       8-K
Filed at:   2022-05-13T23:59:59+00:00
Accession:  0001493152-22-013194
Event type: earnings
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q1 revenue up 39% to $6.2M; operating income up six-fold; adjusted EBITDA up 156%
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- Revenue $6.2M vs $4.4M YoY; verification & certification up 16% to $3.8M.
- Software/consulting revenue surged 201% to $1.4M driven by Japanese government seafood contract.
- Operating income $0.6M ($0.1M in Q1 2021); net income $0.5M ($0.08/share) excluding PPP loan forgiveness.
- Adjusted EBITDA $0.9M (+156%); cash from ops $1.1M; cash balance $6.1M, no debt.
- Repurchased 33,550 shares in Q1 2022 vs 80,775 shares in all of 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1360565/000149315222013194/0001493152-22-013194-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1360565/000149315222013194/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-013194

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer