secwatch.observer — SEC 8-K summary
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Issuer:     Where Food Comes From, Inc. (WFCF)
CIK:        0001360565
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0001493152-23-017844
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1360565/000149315223017844/0001493152-23-017844-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1360565/000149315223017844/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-017844

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