WFCF Q3 revenue up 11% to $7.3M; net income down 9% to $785K

Where Food Comes From, Inc.

2022-Q3 EPS reported $0.25 revenue$18,752,000

Q3 revenue $7.3M (+11% YoY); verification & certification $5.2M (+10%), product $1.6M (+15%).
Net income $785K ($0.13/sh) vs $867K ($0.14/sh) in Q3 2021; adjusted EBITDA $1.3M, down 13%.
Nine-month revenue $18.8M (+16%); net income $1.5M ($0.25) vs $2.2M ($0.36) inclusive of $1M PPP forgiveness.
Company repurchased 108,733 shares in Q3; 202,783 YTD; cash $6.0M, up 11% from year-end 2021.
CEO cites inflationary pressure on labor costs; expects ESG and aquaculture to contribute in coming years.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Where Food Comes From, Inc. reported financial results for third quarter ended September 30, 2022.

Period: third quarter ended September 30, 2022
Result: reported results

Exact text from the filing

Reference is made to the Where Food Comes From, Inc. (the “Company”) press release on November 14, 2022 and conference call transcript, attached hereto as Exhibits 99.1 and 99.2, respectively, and incorporated by reference herein (including, without limitation, the information set forth in the cautionary statement contained in the press release and conference call transcript), relating to the Company’s financial results for the third quarter period ended September 30, 2022.

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Source: SEC EDGAR

accession 0001493152-22-032700

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