---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-040409"
form_type: "8-K"
ticker: "WFCF"
cik: "0001360565"
company_name: "Where Food Comes From, Inc."
filed_at: "2023-11-13T23:59:59+00:00"
generated_at: "2026-06-08T04:43:13.726202+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-23-040409
- form_type: 8-K
- ticker: WFCF
- cik: 0001360565
- company_name: Where Food Comes From, Inc.
- filed_at: 2023-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1360565/000149315223040409/0001493152-23-040409-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1360565/000149315223040409/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-040409
- JSON: https://secwatch.observer/filing/0001493152-23-040409.json
- Plain text: https://secwatch.observer/filing/0001493152-23-040409.txt

## Key facts
- Earnings Releases
  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
  source text: Revenue in the third quarter ended September 30, 2023, declined 4% to $7.0 million from $7.3 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223040409/0001493152-23-040409-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223040409/0001493152-23-040409-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223040409/0001493152-23-040409-index.htm
- Earnings Releases
  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
  source text: 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 ●
  evidence_url: https://www.sec.gov/Archives/edgar/data/1360565/000149315223040409/0001493152-23-040409-index.htm

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