Where Food Comes From Q3 revenue down 4% to $7.0M; net income down 8%; EPS flat at $0.13

Where Food Comes From, Inc.

2023-Q3 EPS reported $0.24 revenue$18,404,000

Core verification and certification revenue up 4% to $5.4M; product sales down 23% to $1.2M due to herd contraction.
Net income $723K ($0.13 diluted EPS) vs $785K ($0.13) YoY; adjusted EBITDA $1.2M vs $1.3M.
Company repurchased 60,537 shares for $855K in Q3; diluted share count reduced to 5,658K from 6,016K.
Nine-month total revenue $18.4M (-2%), net income $1.4M ($0.24 EPS), adjusted EBITDA $2.5M.
Acquired Smart Catch seafood sustainability program via Postelsia division; terms not disclosed.

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 Third quarter 2023 results: revenue $7.0 million, net income $723,000, EPS $0.13.

Period: Third quarter 2023
Revenue: $7.0 million
Net income: $723,000
EPS: $0.13
Result: reported results

Exact text from the filing

Revenue in the third quarter ended September 30, 2023, declined 4% to $7.0 million from $7.3 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Where Food Comes From, Inc. reported Third quarter 2023 results: revenue $7.0 million, net income $723,000, EPS $0.13.

Period: Third quarter 2023
Revenue: $7.0 million
Net income: $723,000
EPS: $0.13
Result: reported results

Exact text from the filing

2022 ● Verification and certification revenue up 4% to $5.4 million from $5.2 million ● Product sales decline 23% to $1.2 million from $1.6 million ● Total revenue down 4% to $7.0 million from $7.3 million ● Net income decreased 8% to $723,000 from $785,000 ● Diluted EPS flat at $0.13 ● Adjusted EBITDA of $1.2 million vs. $1.3 million ● Company buys back

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Where Food Comes From, Inc. reported Nine months ended September 30, 2023 results: revenue $18.4 million, net income $1.4 million, EPS $0.24.

Period: Nine months ended September 30, 2023
Revenue: $18.4 million
Net income: $1.4 million
EPS: $0.24
Result: reported results

Exact text from the filing

Total revenue through the first nine months of 2023 decreased 2% to $18.4 million from $18.8 million in the same period last year.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Where Food Comes From, Inc. reported Nine months ended September 30, 2023 results: revenue $18.4 million, net income $1.4 million, EPS $0.24.

Period: Nine months ended September 30, 2023
Revenue: $18.4 million
Net income: $1.4 million
EPS: $0.24
Result: reported results

Exact text from the filing

Verification and certification revenue up 8% to $13.9 million from $12.9 million ● Product sales decline 10% to $3.1 million from $3.5 million ● Total revenue decreased 2% to $18.4 million from $18.8 million; decline includes impact of one-time $0.9 million contract award in Q1 2022 ● Net income of $1.4 million vs. $1.5 million ● Diluted EPS of $0.24 vs. $0.25 ●

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Source: SEC EDGAR

accession 0001493152-23-040409

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