---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-017844"
form_type: "8-K"
ticker: "WFCF"
cik: "0001360565"
company_name: "Where Food Comes From, Inc."
filed_at: "2023-05-17T23:59:59+00:00"
generated_at: "2026-06-14T22:15:43.533697+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-017844
- form_type: 8-K
- ticker: WFCF
- cik: 0001360565
- company_name: Where Food Comes From, Inc.
- filed_at: 2023-05-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1360565/000149315223017844/0001493152-23-017844-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1360565/000149315223017844/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-017844
- JSON: https://secwatch.observer/filing/0001493152-23-017844.json
- Plain text: https://secwatch.observer/filing/0001493152-23-017844.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223017844/0001493152-23-017844-index.htm

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