WFCF Q1 revenue falls to $5.3M; net income drops to $0.1M from $0.5M YoY

Where Food Comes From, Inc.

2023-Q1 EPS reported $0.02 revenue$5,267,000

Q1 revenue of $5.3M vs $6.2M last year; software consulting revenue declined $0.9M.
Net income $0.1M ($0.02/share) vs $0.5M ($0.08/share); adjusted EBITDA $0.4M vs $0.9M.
Gross margin fell to 42.1% from 46.3% due to weather, higher costs.
Repurchased 89,450 shares for $1.2M in Q1; cash $3.4M, no long-term debt.
Management cites severe weather, lower cattle headcounts, and inflation as headwinds.

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 0.95

Where Food Comes From, Inc. reported first quarter ended March 31, 2023 results: revenue $5.3 million, net income $0.1 million, EPS $0.02 per basic and diluted share.

Period: first quarter ended March 31, 2023
Revenue: $5.3 million
Net income: $0.1 million
EPS: $0.02 per basic and diluted share
Result: reported results

Exact text from the filing

Where Food Comes From, Inc. Reports 2023 First Quarter Financial Results ● Revenue of $5.3 million in Q1 compared to $6.2 million a year ago

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Source: SEC EDGAR

accession 0001493152-23-017844

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