---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-006080"
form_type: "8-K"
ticker: "WFCF"
cik: "0001360565"
company_name: "Where Food Comes From, Inc."
filed_at: "2023-02-27T23:59:59+00:00"
generated_at: "2026-06-18T23:21:00.033326+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# WFCF reports FY2022 revenue up 13% to $24.8M; net income $2.0M vs $3.0M (incl $1M PPP forgiveness)

## Summary
- Full year revenue $24.8M (+13% YoY); net income $2.0M ($0.33 diluted EPS) vs $3.0M ($0.48) in prior year which included $1.0M PPP loan forgiveness.
- Adjusted EBITDA $3.8M vs $3.7M; cash from operations $2.7M vs $3.0M.
- Software & consulting revenue up 40% to $2.9M driven by large Japanese government project.
- Company repurchased $3.5M of stock in 2022 (307,884 shares at avg $11.23); Q4 repurchases $1.2M.
- Q4 revenue $6.1M (+5% YoY); net income $490K vs $742K; adjusted EBITDA $1.0M vs $1.3M; gross profit down 6% on higher labor costs.

## SEC filing metadata
- accession: 0001493152-23-006080
- form_type: 8-K
- ticker: WFCF
- cik: 0001360565
- company_name: Where Food Comes From, Inc.
- filed_at: 2023-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1360565/000149315223006080/0001493152-23-006080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1360565/000149315223006080/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-006080
- JSON: https://secwatch.observer/filing/0001493152-23-006080.json
- Plain text: https://secwatch.observer/filing/0001493152-23-006080.txt

## Key facts
- Earnings Releases
  Where Food Comes From, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $6.1 million, net income $490,000, EPS $0.08 per diluted share.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $6.1 million
  - Net income: $490,000
  - EPS: $0.08 per diluted share
  - Result: reported results
  source text: Fourth Quarter Highlights – 2022 vs. 2021 ● Revenue increased to $6.1 million from $5.8 million ● Net income declined to $490,000 from $742,000 ● Diluted EPS of $0.08 vs. $0.12
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223006080/0001493152-23-006080-index.htm
- Earnings Releases
  Where Food Comes From, Inc. reported full year ended December 31, 2022 results: revenue $24.8 million, net income $2.0 million, EPS $0.33 per diluted share.
  - Period: full year ended December 31, 2022
  - Revenue: $24.8 million
  - Net income: $2.0 million
  - EPS: $0.33 per diluted share
  - Result: reported results
  source text: Full Year Highlights – 2022 vs. 2021 ● Revenue increased 13% to $24.8 million from $21.9 million ● Net income of $2.0 million vs. $3.0 million last year when Company booked $1.0 million in PPP loan forgiveness ● Diluted EPS of $0.33 vs. $0.48
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223006080/0001493152-23-006080-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.